JUDGMENT :

M.S. Ramachandra Rao, C.J.

In this batch of cases, the issue which arises for consideration is:

“whether the H.P. Housing and Urban Development Authority (in short “the Authority”) is entitled to claim from the respondents in LPAs / Writ Petitioners in respect of plots/houses which were allotted to them in 1989 under the 5th Partially Self Financing Scheme and 6th Self financing Scheme certain additional amounts towards notional interest which it would have earned had it invested the payments received from such allottees in FDRs earning interest /opportunity cost or not?”.

Background facts

2) The said Authority is a statutory Authority created under the Himachal Pradesh Housing & Urban Development Authority Act, 2004, and its predecessors, were the Himachal Pradesh Housing Board, constituted under the H.P. Housing Board Act, 1972, constituted on 09.11.2000, and prior thereto, the Himachal Pradesh Nagar Vikas Pradhikaran, and before it, the Shimla Development Authority, constituted by the State of Himachal Pradesh under Section 42-A of the H.P. Town & Country Planning Act, 1977.In 1989, the Shimla Development Authority announced the 5th Partially Self Financing Scheme and 6th