Mridula Bhatkar, J.

The petitioners are the builders and developers of the property bearing CTS No.618, Paranjpe Scheme Road, Vile Parle (East) Mumbai-400 057. The respondents on 27.1.1966 issued notice under Section 488 of Bombay Municipal Corporation Act, 1888 to the petitioners for possession of the portion of the land admeasuring about 75.46 sq. yards out of CTS No.618, for the purpose of the construction of a road. The said portion of the land was acquired on 1.2.1966. As per the policy of the BMC, whenever a set back land is acquired by the Corporation, then the owner of the plot is entitled either to the compensation or to exercise option of availing the FSI under Rule 10(2) of the Development Control Regulations of BMC. The petitioners have grievance that neither the compensation nor the FSI in lieu of the compensation was given to them after acquisition of set back land by the Corporation for the purpose of constructing road.

2. Learned Counsel Mr.Mehta appearing for the petitioners submitted that the petitioners had approached the Corporation for the FSI but no decision is taken by the Corporation till today. He relied on two Circulars, dated 8.7.1987 (Exh.A) an