KOCHI: The Supreme Court’s verdict to demolish five residential apartments under the Maradu Municipality in Kochi for violating the Coastal Regulation Zone Rules has sent panic waves among the residents who have invested crores of rupees to purchase a waterfront high-rise.
Over 400 families face a meltdown on their investments following the apex court verdict to demolish the building.
The flats - Holiday Heritage, Holy Faith, Jane Housing, Kayaloram Apartment and Alfa Ventures - have to be demolished within a period of one month, and a report should be submitted to the Supreme Court, as per the order.
“Really, it is a sad news for us. The apartment is our blood, sweat and hard work. We all have purchased the flats based on the permit given by the local bodies. If the permit is not valid the order should be reviewed again,” said Jayakumar, a flat owner of Holy Faith Apartments, who was also the first purchaser in 2012.
“Most of the apartment owners are NRIs settled abroad. This is an asset that they have invested from their earnings. We have already received plenty of calls from these owners as they are all in panic mode to know the details of the Supreme Court’s order,” said a flat owner of Alfa Ventures who wishes not to be named.
“We all purchased the apartment based on the government documents. It is sad to notice these are not valid at this point. How can a government issued order be invalid? We don’t have any knowledge about its legal credibility. We are not aware of the case and not a party in the proceedings pending before the Supreme Court. Hence, we will file an application seeking to get implead in the case,” said Antony C Ettukettil, Joint Secretary, Holy Faith Apartment Owners Association when asked about the Supreme Court verdict.
According to the local body officials, over 500 such buildings are located along the coastal area. The order should also affect their existence.
“Not just this five apartments are located on the CRZ premises. Several buildings are also situated adjacent to it and these are all facing legal battles. In reality, this verdict has cast a dark shadow over the residents and the builders,” said K J Antony, Kochi Corporation Opposition leader.
The verdict also made builders upset. Many of them are worried that the investors would back out from some big projects due to the Supreme Court’s verdict.
“Really, this is sending a panic message to the residents, builders and the investors. It is clearly sending a message that no investment is safe in Kerala. This order has questioned the credibility of the clearance being issued by the government agencies. How can we invest crores based on the documents issued by the government? We are really worried about the Supreme Court’s verdict,” said S N Raghu Chandran Nair, former National President, Credai.
One government arm vs another arm
It’s one arm of the government versus another arm in the Maradu apartment case. It was the Maradu panchayat, in 2006, which gave permission for the construction of five waterfront apartments at Kundannoor. Now, another arm of the government, Kerala Coastal Zone Management Authority, has objected to the permission given by the panchayat. The panchayat became a municipality in 2010.
“As far as we understand, it’s a fight between two government bodies,” said a builder. “If an order by a government body with the powers to issue such an order cannot be trusted, then what can we rely on?” he asks. J Paul Raj, president, Alfa Ventures (P) Ltd, whose 73-flats high-rise will be among the five apartment complex which will have to be demolished within one month, said “injustice” has been delivered through the apex court order. “We will look at all options including filing a review petition,” he said.
