JUDGMENT

Prafulla C. Pant, J.

1. This appeal is directed against order dated 17.7.2007 whereby the High Court of Judicature at Bombay has discussed the Writ Petition No. 2266 of 2004, seeking direction either to release the Appellant's land situated in Village Sheel, District Raigad in terms of Section 49 read with Section127 of Maharashtra Regional and Town Planning Act, 1966 (hereinafter referred to as "MRTP Act"), from reservation and allow the Appellant to develop the property for residential use, or, in alternative, to declare the Appellant's land stood acquired for the purposes of Agricultural Produce Market Committee (for short "APMC") and Truck Terminal (for which it was reserved).

2. In brief, factual matrix of the case is that the Appellant Hasmukhrai Vanmalidas Mehta owns land in Survey No. 16, Hissa No. 3 and Survey No. 18, Hissa No. 4, situated in Village Sheel, Taluka Khopoli, District Raigad in the State of Maharashtra. On 14.02.1990, he applied to the Planning Authority seeking permission to carry out development of land with necessary documents as required Under Section 44 of MRTP Act. The Appellant was granted permission and issued commencement certificate dated 03.0