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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SC mandates fresh SIT to investigate Noida officials and builders’ collusion

NEW DELHI: The Supreme Court has instructed the establishment of a new Special Investigation Team (SIT) by the Uttar Pradesh Police to probe allegations of collusion between NOIDA Authority officials and builders regarding inflated land acquisition compensation claims paid to farmers. A bench consisting of Justices Surya Kant and Joymalya Bagchi has ordered the formation of a new SIT comprising three IPS officers to replace the previous team. The Supreme Court has also prohibited project development in Noida without an Environmental Impact Assessment (EIA) and prior court approval of the report by the green bench. The court mandated that the…

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ED Raids Rohtas Projects in ₹248-Crore Fraud Case

NEW DELHI | LUCKNOW: On Wednesday, the Enforcement Directorate initiated searches at various locations linked to a real estate group based in Uttar Pradesh as part of a money laundering investigation. The agency is looking into allegations that the group scammed investors out of Rs 248 crore, according to official sources. As part of this investigation, searches are being conducted at eight sites in Lucknow and two in Delhi, targeting Rohtas Projects Ltd. The operation falls under the Prevention of Money Laundering Act (PMLA), the sources confirmed. The investigation follows 87 FIRs filed since 2021 by buyers of homes and…

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SEBI Bans DHFL’s Wadhawans and Four Others from Markets

NEW DELHI: The securities regulator, Sebi, has imposed a ban on Dewan Housing Finance Ltd’s former CMD, Kapil Wadhawan, ex-director Dheeraj Wadhawan, and four others from participating in securities markets for up to five years due to financial misconduct, including fund diversion and falsifying records. The additional individuals sanctioned by Sebi are Rakesh Wadhawan (non-executive chairman), Sarang Wadhawan (former non-executive director), Harshil Mehta (joint managing director & CEO), and Santosh Sharma (former CFO). Sebi has also levied fines totaling Rs 120 crore on the six individuals involved. Kapil Wadhawan and Dheeraj Wadhawan have each received a five-year ban, while Rakesh…

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Karnataka Targets Illegal Layouts, Officials May Face Action

Representative image created by AI BENGALURU: The Karnataka Revenue Department has initiated a substantial campaign against illegal land developments, targeting unauthorized layouts established through the misuse of land laws. Revenue Minister Krishna Byre Gowda has instructed officials to identify and take strict action against officers involved in these violations. Across the state, valuable agricultural lands are being unlawfully converted into residential plots without the necessary approvals mandated by Section 95 of the Land Revenue Act. Developers are misusing “11E maps,” intended for legitimate partitioning, to subdivide land into smaller parcels, sometimes less than one gunta, and market them as part…

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Consumer Forum Urges Ghaziabad Body to Register Flat from 36 Years Ago

GHAZIABAD: The District Consumer Disputes Redressal Commission (DCDRC) has instructed the Ghaziabad Development Authority (GDA) to formally register a residential property booked 36 years ago. Kunti Yadav booked a four-bedroom deluxe apartment in Kaushambi Phase III on October 27, 1989. However, GDA withheld the registration, citing pending payments. Despite this, Yadav took possession of the flat in Govardhan Apartment in 1994 and has been residing there since. On July 29, DCDRC President Praveen Kumar Jain and members Shailja Sachan and RP Singh ruled that GDA must dismiss all demand notices and register the property in the owner’s name within 45…

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Goa CAG: Welfare Gaps for Construction Workers, Safety Laxity

Representative image PANAJI: A performance audit conducted by the Comptroller and Auditor General (CAG) of India has revealed significant shortcomings in the implementation of welfare measures for building and other construction (BOC) workers in Goa. Key issues identified include the non-registration of migrant laborers, inadequate data sharing among agencies, and insufficient inspections to ensure workplace safety. The audit specifically looked into the operations of the Goa Building and Other Construction Workers Welfare Board, in accordance with the Supreme Court’s directives from July 2018. These directives mandated that states implement a model scheme for BOC workers and strengthen enforcement efforts. The…

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Karnataka HC: RERA-validated co-ops can manage apartments

By Sanjana CS BENGALURU: A significant ruling from the High Court on June 30 has brought much-needed relief to flat owners. The single bench’s decision supports a registered cooperative society of allottees who have faced challenges for over 11 years. Justice Suraj Govindaraj presided over a case highlighting disputes among apartment owners, agreement holders, and builders concerning the completion and maintenance of an apartment complex. It was revealed that builders had manipulated an unauthorized association for illicit activities, contesting a Real Estate Regulatory Authority (RERA) order. The High Court dismantled this facade and reaffirmed the RERA order, thereby reinstating authority…

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Nashik Exempts Telecom Firms from Realty Tax on Towers

Image for representation only. NASHIK: The Nashik Municipal Corporation (NMC) will exempt telecom companies from property tax on mobile towers starting January 2025. However, these companies must settle their outstanding dues by December 2024. This decision aligns with the guidelines issued by the state government’s urban development department. According to Section 14 (3) of the Telecommunication Act, 2023, telecommunication networks on any property will not be classified as part of that property, exempting them from property tax or duties. The central government recently expressed concern about local authorities not implementing this Act. In response, the state government’s urban development department…

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40 Revenue Officials Served Show-Cause Notices for Sand Mining

AI-generated Representative Image COIMBATORE: Pavankumar G Giriyappanavar, the Coimbatore district collector, has issued show-cause notices to 40 current and former revenue department officials for their inability to halt illegal sand mining in Perur taluk from 2019 to 2025. The district collector informed TOI that officials have been requested to submit written explanations. Further actions will be determined based on their responses. Sources reveal that the notices target four tahsildars, 22 village administrative officers (VAOs), as well as some deputy tahsildars and revenue inspectors. These notices were issued under Section 17(a) of the Tamil Nadu Civil Service (Discipline and Appeal) Rules,…

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Income Tax Dept. Spots Reporting Gaps in Property Sales

NAGPUR: The income tax department is seeing an increasing number of tax evasion petitions (TEPs) concerning undisclosed property transactions. Officials say that underreporting by land registrar offices may be contributing to defaulters hiding these deals. TEPs, which are formal complaints from the public about tax evasion, have drawn attention to the failure to disclose significant property sales in tax returns. Reports indicate that around 20% of these petitions relate to such issues. Investigations have substantiated several allegations, resulting in the imposition of capital gains tax. In some instances, transactions were carried out entirely in cash. Land registrars, governed by the…