JUDGMENT

VIBHU BAKHRU, J

1. The petitioner is a company engaged in the business of developing real estate. On 14.02.2008, the Slum Rehabilitation Authority (hereafter ‘SRA’) had issued a public notice inviting expression of interest from land owners/developers interested in undertaking a scheme as per the Development Control Regulation of Great Mumbai, 1991. This was, inter alia, to create additional housing stock for rehabilitation of slum developers that had encroached upon Sanjay Gandhi National Park and another project affected persons.

2. The petitioner had submitted a proposal pursuant to the aforesaid advertisement. The said proposal was accepted and, on 17.03.2009, a Letter of Intent was issued to the petitioner by the SRA for construction of 9927 number of tenements including Balwadi, Welfare Center and Society Offices. The said development was in five parts/plots - Plot I measuring approximately 11,600 sq. meters; Plot II measuring 10,000 sq. meters; Plot III measuring 23,405.65 sq. meters; Plot IV measuring 25,510.83 sq. meters; and Plot V measuring 29,916.52 sq. meters. An educational complex and a hospital were to be constructed on Plot I and Plot II respectively. The Sl