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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Pune Developers Violating Water Affidavits Face Legal Action

Representative image PUNE: Divisional Commissioner Chandrakant Pulkundwar has ordered the Pune Municipal Corporation (PMC), the Pimpri Chinchwad Municipal Corporation (PCMC), and the Pune Metropolitan Region Development Authority (PMRDA) to initiate criminal proceedings against developers who do not fulfill their commitments regarding water affidavits submitted during building permit applications. This directive was given in a meeting that included representatives from about 250 housing societies across Pune, Pimpri Chinchwad, and PMRDA regions, where serious concerns about water scarcity were raised. Pulkundwar instructed local bodies to publish all water affidavits from developers on their websites within a week, ensuring these documents are available…

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Panvel civic body collects ₹167 crore in property tax amnesty

NAVI MUMBAI: The Panvel City Municipal Corporation has recovered ₹167 crore in property tax from 60,082 property owners. With just one day remaining in the amnesty scheme (ending Aug 15), 37,519 owners have taken advantage of a 90% fine exemption, amounting to a total relief of ₹64.8 crore. A protest against the property tax was organized on Wednesday. The amnesty scheme, effective from July 18 to September 20, was divided into four tiers: – 75% rebate for payments made between August 16 and August 31, – 50% discount from September 1 to September 10, – 25% waiver from September 11…

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Punjab Cabinet Approves Denotification of Land Pooling Policy

CHANDIGARH: The Punjab Cabinet approved the denotification of the land pooling policy that the AAP government had recently retracted. This decision was made during a council of ministers meeting led by Chief Minister Bhagwant Mann. The Cabinet announced the retraction of the housing and urban development department’s notification regarding the Land Pooling Policy 2025, originally issued on June 4, along with its subsequent amendments, according to a spokesperson from the chief minister’s office. In light of pressure from farmer organizations and opposition parties, the Punjab government officially withdrew the land pooling policy on August 11, despite initially branding it as…

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NCLAT Approves Insolvency Proceedings for Supertech Realtors

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has authorized the start of insolvency proceedings against Supertech Realtors, the developer behind the Supernova project, which consists of residential apartments, offices, retail spaces, and a luxury hotel. The Insolvency and Bankruptcy Appellate Tribunal upheld a previous order from the Delhi bench of the National Company Law Tribunal (NCLT) that, on June 12, 2024, initiated the Corporate Insolvency Resolution Process (CIRP) in response to a petition from the Bank of Maharashtra, citing defaults. A two-member NCLAT panel noted that the revised settlement proposal from Ram Kishore Arora, the promoter, had not…

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Karnataka: Online Registration for Allotted Land and Mortgages Approved

Representative image BENGALURU: On Wednesday, the assembly approved the Registration (Karnataka Amendment) Bill, 2025, enabling online registration of government-allotted land parcels with the sub-registrar’s digitized signature, eliminating the need for human involvement. The legislation also facilitates online registration for mortgage properties tied to bank loans and their release upon repayment. However, for transactions between private parties, the current requirement for the seller and buyer to be present before a sub-registrar remains unchanged. Revenue Minister Krishna Byre Gowda, who introduced the bill, highlighted that the goal is to streamline the registration process electronically for secure properties, including those allocated by agencies…

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ED Arrests Ex-Vasai-Virar Chief in Money Laundering Case

MUMBAI: On Wednesday, the Enforcement Directorate (ED) arrested former Vasai-Virar Municipal Commissioner Anil Pawar along with three others, including two builders, in a money laundering case concerning illegal buildings, officials reported. Pawar’s involvement was revealed in connection with the construction of 41 illegal buildings in Vasai-Virar, located on the outskirts of Mumbai, which were later demolished by the local authorities, according to an official. The buildings were erected in the Achole area of Vasai on land designated for a dumping ground and a sewage treatment plant. In addition to Pawar, the arrests included a town planner and two builders, identified…

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SC urges UP to transform Noida into a metropolitan council

NEW DELHI: Nearly 50 years after the New Okhla Industrial Development Authority (Noida) was established, the Supreme Court urged the Uttar Pradesh government to contemplate the establishment of a metropolitan council aimed at enhancing citizen-centric governance. This directive stemmed from the findings of a Supreme Court-appointed Special Investigation Team (SIT), which presented a critical report about Noida Authority, identifying that decision-making is overly centralized among a limited number of officials. A bench composed of Justices Surya Kant and Joymalya Bagchi endorsed the SIT’s recommendations, stating: “To promote transparency and fairness in the daily operations of Noida, we instruct the UP…

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CBI Court Denies Clean Chit for Chintal Group CEO

CHANDIGARH: On Wednesday, the special CBI court in Panchkula denied a clean chit to D. Vasudevan, CEO of Chintal Group, and rejected his request to dismiss the charges against him. In his application, Vasudevan’s defense argued that the project was outsourced and executed by various agencies contracted by Chintal Group, thus absolving him of accountability. However, the judge, Rajiv Goyal, ruled that this argument—that Vasudevan’s responsibilities were confined to the administration and management of M/s Chintels India Private Limited—was not persuasive at this stage. Vasudevan maintained that his role as CEO involved overall project management, rather than daily oversight of…

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GNIDA’s Plots to Unqualified Realtors Threaten Buyer Safety: CAG

NOIDA: An audit conducted by the Comptroller & Auditor General (CAG) has uncovered significant irregularities and policy violations by the Greater Noida Industrial Development Authority (GNIDA) in the allotment of group housing and builder plots from 2005-06 to 2017-18. The audit report, released on Wednesday—coinciding with the Supreme Court’s directive to the UP government to consider transforming the Noida Authority into a metropolitan council for improved fairness and transparency—highlights lapses over the years that have contributed to the ongoing real estate crisis in Noida’s twin city. Thousands of flats are considerably delayed, while registries are held up due to skyrocketing…