Category: Regulatory

Keep up with important regulatory news affecting real estate, including government policies, tax reforms, compliance requirements, and RERA updates. Understand how these regulations impact developers, investors, and buyers.

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Magistrate Court to Hear ₹140 Crore Guruashish Fraud Case

MUMBAI: A special court has transferred the Rs 140 crore cheating and conspiracy case involving Guruashish Construction and its directors to the magistrate’s court. This decision comes after the CBI was unable to provide evidence implicating any public servants. Special judge B.Y. Phad stated, “Since no public servants are included as accused in the chargesheet, this special court lacks the necessary jurisdiction to proceed with the matter or acknowledge the IPC offences against private individuals independently, as none of them fall under the Prevention of Corruption Act.” The investigation into Guruashish Construction, along with Rakeshkumar Wadhwan, Sarang Wadhawan, and Housing…

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Delhi: MCD Seals Keshavpuram Properties Over ₹1.33 Crore Tax Dues

NEW DELHI: On Wednesday, the Municipal Corporation of Delhi sealed two commercial properties in the Keshavpuram zone due to alleged non-payment of property tax dues exceeding ₹1.33 crore, according to an official statement. This action is part of the civic body’s ongoing initiative against property tax defaulters. The properties, situated in Paschim Vihar and the GT Karnal Industrial Area, reportedly had substantial outstanding property tax dues. Despite multiple opportunities provided by the MCD to settle the dues, the property owners did not comply, leading to the initiation of coercive action under the Delhi Municipal Corporation Act. Officials encouraged the property…

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Maharashtra Forms SIT to Investigate Land Issues in Sambhajinagar

CHHATRAPATI SAMBHAJINAGAR: The state government has established a Special Investigation Team (SIT) to conduct a thorough and unbiased inquiry into various significant land-related complaints in the Chhatrapati Sambhajinagar district. Led by the divisional commissioner of Chhatrapati Sambhajinagar, the SIT will scrutinize major land transactions that are surrounded by serious allegations. During the recent state budget session, concerns regarding alleged land misappropriation in gut number 30 at Brijwadi, near Chhatrapati Sambhajinagar, were raised. In response, Revenue Minister Chandrashekhar Bawankule assured that an SIT would be formed to investigate various land complaints in the district. An official release on Wednesday stated, “The…

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Uttarakhand HC Halts HRDA’s Plotting on Agricultural Land

DEHRADUN: On Wednesday, the Uttarakhand High Court instructed the Haridwar-Roorkee Development Authority (HRDA) to revoke its permission for plotting and group housing on agricultural and orchard land within a week. A division bench comprising Chief Justice Manoj Kumar Gupta and Justice Subhash Upadhyay was hearing a public interest litigation (PIL) alleging that the development authority was flouting previous High Court and Supreme Court rulings. They warned that non-compliance could lead to contempt proceedings. The PIL, filed in 2023 by Haridwar resident Atul Kumar Chauhan, referenced a High Court order from June 19, 2018, which prohibited such developments on agricultural and…

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Cheating Case Filed Against 150+ Landowners in Nashik

NASHIK: The Sarkarwada police have registered a cheating case involving over 150 landowners and developers. They are accused of neglecting the mandatory 20% reservation for economically weaker section (EWS) housing in residential projects exceeding 4,000sqm. The complaint was filed on March 7 by an officer from the land records department, stemming from an inquiry initiated by a committee led by the additional district collector. This investigation aimed to confirm whether developers were complying with government regulations requiring that 20% of land in projects larger than 4,000sqm be set aside for EWS housing, as stated in state housing policies from 2013…

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Mumbai Court Grants Anticipatory Bail to Mazgaon Developer

MUMBAI: A Session Court has granted anticipatory bail to developer Munaf Vadgama and four of his relatives accused in a case of cheating and criminal breach of trust related to a redevelopment dispute in Mazgaon. Additional Session Judge Avinash P. Kulkarni permitted anticipatory bail, stating that if Sajida Munaf Vadgama, Aslam Ismail Merchant, Munaf Kadar Vadgama, and Tausif Hanif Shaikh are arrested, they should be released on bail concerning the case registered at Sir J. J. Marg Police Station. The case, lodged under Sections 406 and 420 of the Indian Penal Code, stems from a complaint by Julie Coelho. She…

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SC Urges CBI Probe into Builders-Banks Nexus, Homebuyers’ Woes

NEW DELHI: On Wednesday, the Supreme Court criticized the CBI regarding its investigation into the alleged “unholy nexus” between banks and developers that has reportedly led to homebuyers in Delhi-NCR and other regions being defrauded. The court emphasized that any delays in the probe would only exacerbate the suffering of affected flat buyers. A bench comprising Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi took issue with the CBI’s claim that several cases of fraud under the subvention scheme should be handed over to state agencies for further investigation. The bench rejected this proposal and instructed…

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ED Seizes ₹313.12 Crore in Ansal Group Money Laundering Case

NEW DELHI: On Wednesday, the Enforcement Directorate (ED) announced the attachment of immovable properties valued at ₹313.12 crore as part of its ongoing probe into Ansal Properties and Infrastructure Ltd (APIL) and its promoters. This action stems from allegations of financial misappropriation and fraudulent diversion of funds collected from homebuyers. These properties include residential land parcels totaling 9.08 hectares, situated in Agra, Uttar Pradesh, and are registered under the names of companies affiliated with APIL. The ED’s Lucknow zonal office executed the attachment under the Prevention of Money Laundering Act (PMLA), 2002. The investigation was prompted by 278 FIRs lodged…

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BMC Targets 6,922 Properties for ₹6,000 Crore Tax Dues

Certainly! Here’s a rewritten version of the content with a focus on clarity and conciseness: MUMBAI: The BMC has initiated action against 6,922 properties due to property tax dues totaling ₹6,089 crore. Additionally, 483 properties belonging to defaulters have been seized, with plans to auction off 210 properties. Following the start of seizure actions, 2,888 property owners have paid over ₹784 crore in taxes. As of Tuesday, ₹6,024 crore has been collected, representing 82.1% of the total property tax owed. Seizure actions were executed against six units in the Hallmark commercial building located in Government Colony, Bandra. Three unit holders…

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Builder Defrauded of Crores by Forged Land Docs; Staffer Arrested

GURUGRAM: A real estate company based in Sohna has reportedly lost crores of rupees due to a fraudulent scheme involving forged documents that altered a land development agreement. This also included the cancellation of a registered General Power of Attorney (GPA). As of Monday, police have detained one more individual from the company, raising the total number of arrests to five. The scam was discovered after representatives from Yashdeep Builders lodged a complaint regarding their collaboration with a landowner in 2018 for developing a specific piece of land. For this project, the company invested heavily and secured a GPA in…