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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ED Seizes ₹270 Crore in Assets from Ex-Lodha Director Rajendra

NEW DELHI: The Enforcement Directorate (ED) announced on Monday the attachment of land parcels and other immovable assets exceeding Rs 270 crore as part of its money laundering probe against Rajendra Lodha, former director of Lodha Developers, a realty firm based in Maharashtra. A provisional order was issued on March 26 under the Prevention of Money Laundering Act (PMLA), which values the properties at Rs 271.48 crore, according to the ED’s statement. The attached assets include lands situated in the Panvel and Shahapur talukas of Maharashtra. Lodha was arrested by the ED in February and is currently in judicial custody.…

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Mumbai Directors Arrested for ₹10 Crore NRI Fraud

MUMBAI: The Economic Offences Wing (EOW) has arrested two directors of a construction firm accused of defrauding an NRI of ₹10.5 crore. Vishal Shah and Sukhpreet Kalsi, partners at Ajanta Airawat Infrastructure LLP, have been remanded to judicial custody by a magistrate’s court. Rahul Gupta, the complainant, stated that he invested ₹1.5 crore in 2012 through his company into the accused’s firm, which acquired land in Bhandup for a similar amount. After retiring from the partnership in February 2016, Gupta claims he lent ₹6 crore to the company, which has yet to be repaid. A settlement agreement was made in…

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Lucknow extends civic office hours for tax deposits until March 31

LUCKNOW: The Lucknow Municipal Corporation has extended the operating hours of its zonal offices to facilitate the collection of commercial and house taxes before the financial year concludes. Officials announced that all zonal offices will be open from 10 AM to 6 PM on Sundays. On March 30 and 31, they will operate from 10 AM to 11 PM, with a special effort to recover pending house tax dues on these days. The civic body encourages taxpayers to settle their dues before March 31 to avoid incurring interest charges. Payments made after the deadline will attract a 12% interest fee…

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Bombay HC: Banks Can’t Claim Priority on PMLA-Attached Properties

NAGPUR: The Nagpur bench of the Bombay High Court has delivered a landmark ruling affecting financial institutions and the Enforcement Directorate (ED). The court determined that banks’ recovery laws cannot supersede the Prevention of Money Laundering Act (PMLA), highlighting the government’s priority action against ‘proceeds of crime’. A division bench consisting of Justices Mukulika Jawalkar and Nandesh Deshpande annulled an order from the appellate tribunal that permitted banks, including HDFC Bank and Punjab National Bank, to enforce secured interests over properties seized by the ED in a money laundering case involving alleged misconduct in coal block allocation. The court declared…

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Bombay HC Report on MHADA 79A: 13K Unsafe Mumbai Buildings at Risk

MUMBAI: In a crucial update that may shape the future of redevelopment across the city, a committee established by the Bombay High Court has delivered its findings on March 5, 2026, examining contentious notices issued under Section 79A of the MHADA Act. The court is poised to hear this matter and decide if the halted redevelopment of numerous unsafe buildings can continue, impacting over 13,000 ageing structures and countless residents living in hazardous conditions. This comes just ahead of the looming monsoon season. The heart of the issue lies with Section 79A, a legal provision enacted in 2020 to expedite…

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Hyderabad Civic Body Locks 100+ Properties for Tax Dues

HYDERABAD: As the financial year nears its conclusion, the Greater Hyderabad Municipal Corporation (GHMC) is intensifying its actions against long-time property tax defaulters. To date, over 100 significant commercial properties have been sealed, with the GHMC aiming to recover hundreds of crores in unpaid taxes. The GHMC reports that over 30,000 commercial entities—spanning luxury hotels, retail chains, and small shops—have neglected to settle their tax dues. The civic body is now concentrating on the most egregious offenders, sealing their premises to facilitate payment. This crackdown follows numerous ignored notices issued over the years. Notable cases include the Katriya Hotel in…

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Redeveloped Flat Exempt from ‘Other Income’ Tax: ITAT

MUMBAI: The Income Tax Appellate Tribunal (ITAT) in Mumbai has favored a taxpayer who received a flat valued at ₹11.7 crore as part of a redevelopment project in exchange for surrendering his tenancy rights. ITAT determined that the surrender of tenancy rights constituted the transfer of a capital asset, qualifying taxpayer V Asher for an exemption under Section 54F of the Income Tax Act. The tribunal also stated that the flat’s value should not be taxed as ‘Income from other sources.’ During the review of Asher’s 2019-20 tax return, the I-T officer questioned the legitimacy of the tenancy arrangement. Consequently,…

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Ludhiana Yet to Recover Dues from 100,000 Property Taxpayers

LUDHIANA: As the deadline approaches for property tax payments this fiscal year, the Ludhiana Municipal Corporation (MC) is still awaiting tax contributions from approximately 100,000 taxpayers. To date, they have collected over ₹147 crore against a target of ₹160 crore, but the pressure remains high as the internal target stands at ₹180 crore. In previous years, tax collection efforts have exceeded expectations, and officials are hopeful of reaching at least the budgeted target this year. Significant targets have already been set for the next fiscal year. MC Superintendent Vivek Verma expressed optimism, stating that taxpayer dues will be collected with…

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Telangana HC Denies Stay on Bhoodan Land Demolitions

HYDERABAD: The Telangana High Court, on Wednesday, denied a request for interim relief or a stay on the large-scale demolition and rehabilitation efforts at Bhoodan lands in Velugumatla village, Khammam district. The court noted that intervening now might negatively impact many eligible beneficiaries in need. Justice B. Vijaysen Reddy issued this ruling while considering petitions from families displaced during the demolition drive conducted on February 24. The court instructed the state government to submit a detailed counter-affidavit and set the next hearing for April 15. During the proceedings, the government pleader for revenue presented written instructions detailing the status of…

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Bengaluru property tax receipts at ₹4,047 crore, 40% below target

BENGALURU: Property tax collection in the city has once again fallen short this financial year, highlighting ongoing compliance issues even as enforcement efforts are ramped up. With only days remaining in the 2025-26 fiscal year, the collections have reached Rs 4,047.7 crore against a target of Rs 6,700 crore, resulting in a shortfall of over Rs 2,652 crore and an overall realization of approximately 60%. The target includes outstanding amounts from previous years. As of March 20, Rs 4,047.7 crore has been collected, comprising Rs 3,286 crore in property taxes for this fiscal year, along with Rs 761.7 crore in…