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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Supreme Court: Homebuyers Can Seek Relief for Possession Delays

NEW DELHI: Homebuyers can raise complaints regarding deficiencies in services even after taking possession of a flat, as per a ruling by the Supreme Court. The court affirmed that homebuyers have the right to approach consumer forums for compensation related to delayed possession, irrespective of having already received the flat. The Supreme Court overturned a decision by the National Consumer Disputes Redressal Commission (NCDRC), which had stated that a homebuyer loses consumer status upon receiving possession and therefore cannot claim compensation for delays. The court clarified that any arbitration clause in the agreement will not prevent homebuyers from seeking resolutions…

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NGT Urges Action on ‘Illegal’ Groundwater Extraction in Noida

NEW DELHI: The National Green Tribunal (NGT) has instructed the Uttar Pradesh Ground Water Department to investigate a complaint about alleged illegal groundwater extraction in Noida and Greater Noida, and to take necessary measures. A bench, chaired by NGT Chairperson Justice Prakash Shrivastava and expert member Afroz Ahmad, reviewed a petition from environmental advocate Vikrant Tongad. The petition asserted that private builders, industries, and individuals are unlawfully extracting groundwater in Noida and Greater Noida, primarily in Sectors 145 and 153 of Noida and Sectors 94 and 150 in the Tech Zone of Greater Noida. Advocate Akash Vashishtha, representing the applicant,…

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Patna Civic Body Sees Tax Surge After ARV Revision

PATNA: The Patna Municipal Corporation (PMC) has increased the Annual Rental Value (ARV) for properties by 15%—the first adjustment in nearly 30 years. This change, effective from June 24, 2026, aims to enhance civic revenues to improve infrastructure, including roads, drainage, sanitation, and street lighting. Additionally, PMC is offering a 5% discount for lump-sum property tax payments made by June 30 for the fiscal year 2026–27. Average daily receipts have surged from approximately ₹50 lakh to nearly ₹70 lakh. On Thursday alone, the civic body collected over ₹68 lakh from 1,480 properties by 3:33 PM—a significant increase following the implementation…

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Dharwad: Panel chides developers, grants relief to senior citizen

DHARWAD: The District Consumer Disputes Redressal Commission, Dharwad, has provided relief to a senior citizen who was denied registration of a residential plot even after making a significant payment. Mallamma Doddagoudar, a resident of Haliyal Naka in Dharwad, had booked Plot No. 19 in the Golden City layout in Sutagatti village for Rs 6.2 lakh, having already paid Rs 4.1 lakh, with the remainder due at registration. According to her complaint, the developers registered plots for other buyers but failed to do so for Mallamma. Despite her repeated offers to pay the remaining balance, they neither accepted her payment nor…

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Maharashtra probes ₹20,000 crore stamp duty scam

MUMBAI: Revenue Minister Chandrashekhar Bawankule has initiated an investigation into a significant stamp duty scam in the state, potentially valued between Rs 10,000 crore to Rs 20,000 crore. During a session in the state assembly on Thursday, he mentioned that the government has received reports of severe discrepancies in adjudication proceedings, where stamp duties were allegedly inflated and later reduced through misuse of quasi-judicial powers. The investigation will cover stamp duty adjudications across the state from April 1, 2021, to March 31, 2026. Bawankule stated, “Preliminary findings indicate possible irregularities amounting to between Rs 10,000 crore and Rs 20,000 crore.”…

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Mumbai Developer Arrested for ₹1.8 Crore Property Fraud

MUMBAI: A developer and an associate have been booked for allegedly swindling two investors out of ₹1.8 crore under the guise of allotting shops in a redevelopment project in Bandra, Mumbai, police reported on Thursday. An FIR has been registered against Saurabh Bhuta, a director of Meeti Developer, and his associate Harsha Bhuta, following a complaint by Sandip Singh Chandok, a 55-year-old automobile businessman, as confirmed by an official from Khar police station. According to police, Chandok invested ₹1.3 crore in the redevelopment project of New Kamalkunj Co-operative Housing Society in Bandra (West), while another investor, Manoj Kumar Anand, contributed…

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Lucknow: LDA Closes 71 Centres, Alerts 83 Builders on Fire Safety

LUCKNOW: Following the tragic fire at the Aliganj commercial complex that resulted in 15 fatalities on Monday, the Lucknow Development Authority (LDA) has sealed 71 businesses and issued notices to 83 commercial building owners across the city for violations of building and fire safety regulations. This action marks the first day of an extensive safety drive. Preliminary investigations revealed significant shortcomings in fire safety protocols and emergency evacuation plans at the Aliganj complex affected by the blaze. Under the directives of Chief Minister Yogi Adityanath, enforcement teams, along with representatives from the fire department and Lucknow police, undertook inspections across…

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NCLT Approves Mantra Properties’ Plan for Worli Project

The National Company Law Tribunal (NCLT) in Mumbai has approved Mantra Properties & Developers’ resolution plan for a stalled residential project located in Worli, Mumbai. This decision marks a significant step towards reviving a development projected to yield approximately ₹2,000 crore. The tribunal endorsed the resolution plan submitted by Mantra Properties for the insolvent Siddhi Raj Housing Projects Pvt Ltd, concluding a corporate insolvency resolution process that began in May 2023 due to a contractor’s petition. The committee of creditors (CoC) supported the plan with a 92.97% voting share. The NCLT, in its order dated June 19, affirmed that the…

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Telangana HC Delays Hearing; Hakimpet Auction Stalled

Telangana High Court HYDERABAD: The Telangana High Court has postponed the hearing on a series of petitions contesting the e-auction of an 8.24-acre land parcel in Hakimpet, Banjara Hills, effectively pausing the auction process. The auction was initially set for June 19, but was delayed to July 2 due to claims of ownership raised by certain parties in the High Court. During the hearing, Justice NV Shravan Kumar ordered the appointment of two advocate commissioners, one representing the petitioners and the other for the state government. “They are to inspect the lands and submit a report to the court,” stated…

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ED Raids in Ghaziabad Over Housing Society Fraud

ED raids in Ghaziabad, Delhi in alleged housing society fraud case NEW DELHI: The Enforcement Directorate (ED) conducted searches at various locations in Ghaziabad and Delhi on Thursday as part of its investigation into an alleged housing society fraud involving a real estate developer and cooperative society officials. The search operation, led by ED’s Lucknow zonal office, falls under Section 17 of the Prevention of Money Laundering Act (PMLA) in connection with a case against Sandeep Singh, promoter of Shrasth Propbuild Pvt Ltd, and the office-bearers of Seva Suraksha Sahkari Awas Samiti. Officials familiar with the proceedings stated that the…