The money is to be recovered from the builders who built the illegal structures, the court said, according to LiveLaw.
A committee may be set to evaluate the compensation amount and decide on the remainder of the compensation to be paid to the flat owners who will be affected by the demolition.
A bench comprising justices Arun Mishra and S Ravindra Bhat directed freezing of assets of builders and promoters who were involved in the construction of the buildings, PTI reported.
“Our primary concern is illegal construction in coastal zone and disasters. We also want compensation to be given to flat owners. They should also have shelter,” Justice Arun Mishra said, Bar&Bench quoted.
The court said the demolition process should conclude within 120 days as submitted by the Kerala government, Bar&Bench reported.
Senior Counsel Harish Salve, who was representing the Kerala governmen,t told the court a third party agency would be hired for the demolition process.