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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Indore Mayor-in-Council Rejects Property Tax Re-zoning Plan

INDORE: The Mayor-in-Council (MiC) declined a proposal on Thursday to adjust property tax rate zones for over 50 localities, including 29 recently integrated villages. This revision would have moved developing areas from lower tax brackets (Zone 5) to higher ones (Zones 1 and 2). The MiC, led by Mayor Pushyamitra Bhargav, approved a standard licensing fee for each cinema screen displaying commercial advertisements without prior authorization from the IMC. The council also authorized the tender invitation for the construction of 8,100 housing units under the Pradhan Mantri Awas Yojana 2.0. The council granted in-principal approval to regularize the corporation’s regulated…

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Karnataka HC: Premium FAR Scheme Isn’t Akrama-Sakrama Rebranded

BENGALURU: The High Court has upheld the state’s Premium Floor Area Ratio (FAR) scheme, asserting that it should not be equated with the controversial Akrama-Sakrama scheme, which is aimed at regularizing unauthorized constructions. In its judgment, delivered on June 15, the division bench, comprising Chief Justice Vibhu Bakhru and Justice CM Poonacha, dismissed a public interest litigation and a related writ appeal, emphasizing that the Premium FAR scheme fundamentally differs from Akrama-Sakrama. The Premium FAR scheme modifies development regulations uniformly rather than legalizing illegal structures. The court noted that the Akrama-Sakrama scheme allows for regularizing unauthorized constructions through payment, while…

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Mumbai court denies bail to businessman in ₹1,000 crore fraud

MUMBAI: A Mumbai court has rejected the anticipatory bail plea of businessman Sudhir Valia, who is implicated in a Rs 1,000-crore financial fraud involving Yes Bank. The court ruled that the charges are serious and that Valia’s custodial interrogation is necessary. Rana Kapoor, co-founder of Yes Bank, is also among those accused in the case. Additional Sessions Judge Anil D. Salunkhe stated, “The seriousness of the alleged economic fraud involving the applicant (Valia) in collusion with Yes Bank officials necessitates custodial interrogation.” The Economic Offences Wing (EOW) of the Mumbai Police has registered a new FIR targeting Kapoor, Valia, director…

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Patna civic body collects over ₹31 crore in property tax

PATNA: The Patna Municipal Corporation (PMC) has collected over ₹31 crore in property tax from April 1 to June 16 this financial year, exceeding the ₹30 crore collected during the same period last year, even with a decline in the number of taxpayers. According to official PMC data, 94,553 property owners paid their tax by June 16 this year, down from 98,338 in the previous fiscal year. Officials credit the increase in revenue to a revised assessment structure informed by road categories and property locations, as well as improved compliance. Online payments continue to lead tax collection efforts, with 57,541…

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Delhi Civic Revenue Soars 17% to ₹14,549 Crore in 2025-26

NEW DELHI: The Municipal Corporation of Delhi (MCD) achieved its highest annual revenue of Rs 14,549.06 crore for the financial year 2025-26, marking a 17.27% increase from the previous year, as reported by officials on Tuesday. According to MCD standing committee chairperson Satya Sharma, total revenue soared from Rs 12,406.75 crore in 2024-25 to Rs 14,549.06 crore in 2025-26, representing an increase of Rs 2,142.31 crore. “MCD’s own revenue rose from Rs 9,400.20 crore to Rs 11,239.24 crore during this period, indicating a growth of 19.56%. Additionally, revenue and grants from the Delhi government climbed from Rs 2,983.87 crore to…

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Pune Builder Charged with Cheating Flat Buyers of ₹50 Crore

Representative AI image PUNE: The Wagholi police have initiated a cheating case against a local builder and his associates after over 150 homebuyers complained of being defrauded of nearly Rs50 crore. This action follows the builder’s failure to deliver flats in a housing project located in Kesnand, Wagholi, despite receiving significant payments from buyers. The investigation began with a complaint from a 49-year-old buyer who reported paying Rs31.77 lakh in 2018 for a 2-BHK flat and a commercial space. This amount included personal savings and bank loans transferred directly to the builder’s account. According to the signed agreement, the builder…

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ED Raids 17 Locations in Corporate Insolvency Case

MUMBAI: On Tuesday, the Enforcement Directorate (ED) conducted searches in Maharashtra and Delhi as part of an investigation into potential money laundering linked to alleged irregularities in a corporate insolvency resolution process, officials reported. Seventeen locations connected to Suraksha Asset Reconstruction Company Ltd (SARCL), Suraksha Realty Ltd, Khyati Realtors Pvt Ltd, their promoters, directors, employees, and a former YES Bank employee were searched in Mumbai, Khandala (Maharashtra), and Delhi. The companies were not immediately available for comment regarding the ED’s actions. The investigation centers on the purported fraudulent issuance of a loan by YES Bank to Mackstar Marketing Pvt Ltd,…

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Delhi HC: Can’t demolish homes of residents not relocated yet

NEW DELHI: On Monday, the Delhi High Court ordered that authorities cannot demolish the homes of residents in Race Course slum clusters who have not agreed to alternative housing until July 1. “If they have not voluntarily vacated, you cannot touch them until July 1,” stated Justices Tejas Karia and Madhu Jain during the hearing of an appeal from residents of Bhai Ram Camp, DID Camp, and Masjid Camp. They challenged a previous ruling that denied intervention in their eviction from the area, adjacent to the prime minister’s official residence. The appeal came to the vacation bench following an urgent…

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ED Seizes ₹503 Crore Assets from Raheja Developers

NEW DELHI: The Enforcement Directorate (ED) announced on Monday that it has attached fresh assets valued at approximately Rs 503 crore as part of an ongoing money-laundering investigation into alleged fraud involving homebuyers by Raheja Developers and its promoter Navin M Raheja. The agency issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA). The attachment includes immovable properties worth an estimated Rs 503.48 crore, belonging to Raheja Developers Ltd. as well as properties owned by Navin M Raheja and his family members, as stated by an official announcement. This probe originated from multiple FIRs filed by…

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15+ Property Owners Cited for Tenant Verification Issues in Samba

JAMMU: On Monday, the Jammu and Kashmir Police registered 19 FIRs against property owners in Samba district for failing to provide tenant details, officials confirmed. The FIRs were filed at the Samba and Bari Brahmana police stations as part of a special verification initiative aimed at improving security and ensuring compliance with tenant verification regulations. The drive focused on individuals renting properties and domestic workers. Thirteen cases were recorded at Bari Brahmana and six at Samba police station, as per a spokesperson’s statement. The District Magistrate of Samba has mandated police verification for all tenants. However, many property owners did…