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.

Latest StoriesRegulatory

SC Approves M3M Group’s Request to Substitute Attached Property

Supreme Court NEW DELHI: The Supreme Court has granted M3M Group’s request to substitute a property initially attached by the Enforcement Directorate under the Prevention of Money Laundering Act, 2002. A bench consisting of Justices P S Narasimha and R Mahadevan ruled that the property substitution is contingent upon nine conditions recommended by the ED. The bench stated, “We have heard Dr. Abhishek Manu Singhvi, senior counsel for the petitioner, and have considered the matter thoroughly. The petitioners, M/s. M3M India Pvt. Ltd. and M/s. M3M India Infrastructure Pvt. Ltd., have submitted an affidavit agreeing to the stipulations. While we…

Latest StoriesRegulatory

NGT Notifies Delhi Jal Board for Illegal Borewells

NEW DELHI: The National Green Tribunal (NGT) has issued a notice to the Delhi Jal Board (DJB) following allegations that private builders have illegally installed borewells and are extracting groundwater without authorization. Arun Kumar Tomar, the petitioning individual, asserted that he had brought this issue to the attention of the DJB chairman on January 20, but no subsequent actions were taken. Tomar accused 19 private builders of digging illegal borewells throughout Delhi. The NGT bench, headed by Justice Prakash Shrivastava, acknowledged that the claims necessitate verification through a site inspection by the DJB. The bench also emphasized that the appropriate…

Latest StoriesRegulatory

Four Gurgaon Builders Fined for Illegal Groundwater Use

GURUGRAM: The Haryana Water Resources Authority (HWRA) has imposed a fine of ₹5 crore on four real estate developers in Gurugram for unauthorized groundwater extraction, following a directive from the National Green Tribunal (NGT). According to an inquiry report by HWRA chairperson Keshni Anand Arora submitted to the NGT, borewells and sump wells at multiple project sites in sectors 102, 103, and 37D have been sealed. The case originates from a petition filed with the NGT in 2023 regarding groundwater violations in the region. A joint committee’s report confirming these violations was submitted in November 2023. “We have imposed a…