1. The land which is subject matter of the writ petition was given on lease for a period of 40 years by the Srinagar Development Authority (SDA) vide Order No. 43-GR (UD) of 1990 dated 5th March, 1990 to Reserve Bank of India. The subject matter of the writ petition (for short “land”) was given on lease for raising construction of residential colony and for construction of offices of the Central Government. Vide Order No. SDA/VC/336 of 2011 dated 17th February, 2011 the land was resumed by the SDA and an amount of Rs. 2,90,38,154.75 deposited as premium amount was ordered to be returned back to the Reserve Bank of India.

2. Master plan has been prepared in terms of Sections 7 and 9 of Jammu and Kashmir Development Act, 1970 (for short “Act”) and it is not in dispute that the Master Plan has been approved by the competent authority viz. Government and has been also notified in accordance with the mandate contained in the Act. The layout of the ‘land’ shows that it has been reserved for residential purposes.

3. In order to accomplish the purposes for which the ‘land’ has been reserved in the Master Plan, the SDA issued notification for auctioning of the same on 18th July, 2011. It is t

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