The Bombay High Court has restored earlier regulatory orders concerning Prestige Estates Projects’ Turf View development in Mahalaxmi, Mumbai, bringing clarity to the project’s regulatory status after a prolonged dispute before the Maharashtra Real Estate Appellate Tribunal (MahaREAT).
In a regulatory filing dated October 1, 2026, Prestige Estates said the High Court, through its September 29 order, set aside the MahaREAT order related to the project. The court’s decision effectively reinstates two earlier regulatory orders concerning Turf View.
The first was an order dated September 2, 2022, which had directed the de-registration of the Turf View project. The second was an October 29, 2021 order or note approving a change in the project’s promoter.
According to the company, the High Court’s intervention means that both of these earlier orders now stand restored, returning the project to the regulatory position that existed under those decisions.
The dispute had reached the High Court following proceedings before MahaREAT, with the matter involving the project’s registration status and change of promoter. Turf View is located in Mahalaxmi, one of Mumbai’s established premium residential and commercial areas.
Prestige Estates said the legal development has also resulted in a settlement among the parties involved. “Following the High Court’s order, all concerned parties have settled their respective disputes and claims relating to the matter,” the company said in its regulatory disclosure.
The resolution removes a key legal uncertainty surrounding the project and provides greater clarity over the regulatory orders governing its status.
The development also had an immediate impact on investor sentiment. Shares of Prestige Estates Projects gained after the announcement, reaching an intraday high of Rs 1,500.90 per share, representing an increase of 1.28%.
The High Court’s order is significant for the company as it settles the regulatory dispute surrounding Turf View while restoring the earlier decisions on project de-registration and the change of promoter. With the concerned parties having settled their respective claims, the latest development marks the conclusion of the dispute outlined in the company’s regulatory filing.
Source: NDTV Profit
