October 25, 2025: The Bombay High Court has cleared the way for the long-delayed redevelopment of the dilapidated Parekh Market complex in Ghatkopar (East), ordering 15 holdout occupants, including the project’s former developer, to vacate the premises by November 10, 2025.
Justice Sandeep Marne granted interim relief to Ambit Life Style Homes LLP, the developer appointed by the Parekh Market Premises Co-operative Housing Society, in a suit seeking enforcement of a 2022 redevelopment agreement. Out of 88 occupants, 70 have already vacated, and three of the five buildings have been demolished after civic authorities declared them dangerous. However, the redevelopment was stalled as the former developer, Kanaiyalal Madhavji Thakkar, and his firm refused to vacate 12 premises under their control.
Ambit Homes stated that it had paid Rs 1.4 crore in hardship compensation, continues to pay Rs 27 lakh per month to displaced residents, and has spent over Rs 10 crore on preliminary works, having secured all necessary approvals, including an SRA Intimation of Approval (IOA) in August 2025.
Thakkar’s claim of retaining rights to exploit the remaining FSI was rejected by the court, which noted that his earlier counterclaim had been dismissed up to the Supreme Court. “With the dismissal of the Special Leave Petition, the decree has attained finality,” Justice Marne observed.
Calling it a “classic redevelopment dispute,” the court said, “The main obstructor is the old developer, who hopes to further exploit the land’s potential while residents wait for new homes.”
The court ruled that the balance of convenience favoured the society and new developer, authorising the Court Receiver to take possession with police assistance if the defendants fail to vacate.
Source: The Free Press Journal
