Nahalchand Laloochand P.Ltd vs Panchali Co-Op.Hng.Sty.Ltd

The Supreme Court upheld the High Court's dismissal of the promoter's appeal regarding the sale of stilt parking spaces, affirming that under the Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963 (MOFA) and the Development Control Regulations for Greater Bombay, 1991 (DCR), the rights of flat purchasers cannot be altered by private agreements. The Court emphasized that parking spaces do not constitute a 'building' and that any agreements contrary to the model form prescribed by the State Government are not binding. The ruling reinforced the mandatory nature of compliance with DCR in property transactions.