The Bombay High Court has set a crucial precedent for Mumbai's real estate market, clarifying the role of landowners under the Maharashtra Ownership Flats Act (MOFA). This ruling overturned an interim order that halted development on a significant Borivali plot, safeguarding reserved FSI rights and streamlining future project executions.

Kanakia Group has approached the NCLT to demerge its real estate arms, aiming to boost investor interest and improve capital access through operational restructuring.