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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Telangana’s property tax collections reach ₹100 crore in a day

HYDERABAD: A rigorous enforcement initiative, combined with the current one-time settlement (OTS) scheme, has led to a remarkable increase in property tax collections across three municipal corporations in the core urban area of Telangana, with revenues exceeding Rs 100 crore in a single day. Prior to last week, daily collections ranged from Rs 3 crore to Rs 5 crore. However, in recent days, there has been a substantial surge, with collections reaching Rs 20 crore on Sunday, Rs 50 crore on Monday, and over Rs 100 crore on Tuesday, bringing total collections to around Rs 2,500 crore. Officials attribute this…

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Bombay HC: Nagpur Builder to Pay ₹41 Lakh for Demolition

NAGPUR: The Nagpur bench of the Bombay High Court has ordered builder N Kumar to pay ₹41.37 lakh within two weeks for the demolition of illegal structures at Poonam Chambers and Poonam Tower. A division bench, led by Justices Anil Pansare and Nivedita Mehta, issued this directive following detailed cost estimates presented by the civic authority. The estimated costs include ₹31.4 lakh for demolishing unauthorized constructions at Poonam Chambers in the cantonment and ₹9.97 lakh for Poonam Tower, located near Vidhan Bhavan. In response to petitions filed by Kumar and his firm contesting demolition notices issued by the Nagpur Municipal…

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Delhi extends property tax amnesty deadline to April 30

NEW DELHI: The Municipal Corporation of Delhi has extended the deadline for the Property Tax Amnesty Scheme 2025-26 to April 30, as announced by the Delhi Mayor on Tuesday. Mayor Raja Iqbal Singh stated that the extension was granted due to the positive response from the public, allowing more taxpayers to resolve their outstanding dues under the Sumpattikar Niptaan Yojana (SUNIYO) scheme. He encouraged property owners and occupiers to take advantage of this “golden opportunity” to settle their liabilities without incurring interest or penalties. The mayor confirmed that the scheme will not be extended beyond April 30. Under SUNIYO, taxpayers…

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Buyer Can Withdraw Deposit Pending Builder’s Appeal: Bombay HC

Here’s a rewritten version of the content you provided: MUMBAI: The High Court observed that a builder and a buyer cannot be treated equally as the buyer is typically in a vulnerable position. Consequently, it allowed a flat purchaser to withdraw a sum deposited with the builder, amidst an appeal regarding a project that has been delayed for over a decade. On Monday, the High Court ruled that the provisions of RERA do not prevent the appellate tribunal from exercising its discretion in exceptional cases to release amounts deposited by the builder during the appeal process. The Court clarified that…

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IBBI Suspends Insolvency Pro for 2 Years in Supertech Case

NEW DELHI: The Insolvency and Bankruptcy Board of India (IBBI) has suspended an insolvency professional’s registration for two years due to serious lapses in managing the insolvency proceedings of Supertech Ltd and Nobility Estates. In an order dated March 30, the IBBI’s disciplinary committee found that Hitesh Goel neglected his responsibilities as defined under the Insolvency and Bankruptcy Code (IBC) and relevant regulations while handling the corporate insolvency resolution process for both companies. Supertech Ltd was initiated into insolvency in March 2022, with Goel first acting as the interim resolution professional (IRP) and later confirmed as the resolution professional. The…

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Ranchi Civic Body Achieves ₹108 Crore in Tax Collection

RANCHI: In a significant milestone, the Ranchi Municipal Corporation (RMC) has reported a collection of Rs 108 crore in taxes for the current financial year, with property tax generating Rs 100 crore, making it the largest source of revenue. Officials noted that this development marks a notable change, as property tax has not been the primary revenue source in earlier years. RMC’s Deputy Municipal Commissioner, Gautam Prasad Sahu, stated, “We have surpassed Rs 100 crore in property tax alone, while the total collection is around Rs 108 crore. We anticipate collecting over a crore on the final day.” Additional income…

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Belagavi Revises Property Tax Rates Effective April 1

BELAGAVI: The Belagavi City Corporation (BCC) has updated property tax rates effective April 1, aiming to generate an additional Rs 2-3 crore in annual revenue. The tax rate for residential properties will rise by 3%, while commercial and industrial properties, along with all types of real estate plots, will see an increase of 4%. Owners can benefit from a 5% discount if the total tax is paid by the end of April. According to BCC sources, there are currently over 1.5 lakh properties, including residential and commercial. Historically, these properties generated about Rs 75 to 80 crore annually in taxes,…

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CAG Queries Telangana’s Land Allotment to Amazon in Pharma City

HYDERABAD: The Comptroller and Auditor General (CAG), in a report presented to the assembly on Monday, raised concerns over the allocation of 48 acres to Amazon Data Services India Private Ltd within the limits of the Hyderabad Pharma City (HPC). The report noted that the land was initially intended for a dedicated pharmaceutical manufacturing cluster under the National Investment and Manufacturing Zone (NIMZ) guidelines. The audit scrutinized land allocations and project execution, highlighting significant irregularities. According to the NIMZ guidelines, land in such zones must be exclusively used for purposes specified in the master plan. The CAG stated that allocating…

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New Town Kolkata Issues Notices to 65+ Buildings

Representative AI image KOLKATA: In response to complaints about significant irregularities in the use of residential buildings for commercial activities without proper authorization, the New Town Kolkata Development Authority (NKDA) has issued stop-operation notices to 69 buildings following inspections in New Town last year. The authority is conducting a block-wise evaluation of nearly 1,000 buildings that were flagged for potentially violating the allowed 40% commercial use within residential structures. According to officials, around 1,200 buildings were identified as part of investigations into suspected violations that emerged from surveys conducted in late 2024. “Initial visits led to a reduction in the…

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NCLAT Limits Vatika’s Insolvency Order to Gurugram Project

NEW DELHI: The NCLAT has provided partial relief to NCR-based real estate firm Vatika by limiting the ongoing insolvency proceedings to a specific project, “Project Aspirations,” located in Gurgaon. The National Company Law Appellate Tribunal (NCLAT) modified the earlier order from the National Company Law Tribunal (NCLT), clarifying that “CIRP cannot encompass all other projects” of Vatika. On February 3, following a plea from IDBI Trusteeship Services, the NCLT initiated the Corporate Insolvency Resolution Process (CIRP) against Vatika and appointed an Interim Resolution Professional (IRP) while enforcing a moratorium. This decision was subsequently challenged by Surender Singh, a director of…