@ Vimal :
Your effort is appreciated but the concept which you are referring to is completely different than what is under consideration. Let me explain it to you through an example as to what exactly is under consideration : Here in Gujarat, to promote industrialisation, State Government has enacted a special machienary called "Gujarat Industrial Development Corporation" (GIDC). GIDC acquires huge chunk of land and developes it as per the requirement of a particular industry for which the land is acquired. Upon Development it starts allotting the plots to the interested Industries on long term lease basis. The Industry "A" who has availed the plot, puts up shed or factory building on the said plot. The ownership of land remains with GIDC however the ownership of the factory building remains with the Industrial house and when it is required to be tranfered, they both jointly tranfers their rights in favour of intending purchaser.
@ Saket : I believe my understanding towards the subject is proper.
On this lines, supreme court rullings/judgments/ case laws are requested by saket. Subject is interesting, do mark them to me as well :)