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 to Hear Plea on Flats Under Subvention Scheme

NEW DELHI: The Supreme Court has agreed to hear a plea urging the Centre to establish a scheme ensuring that if flats under a subvention plan are not delivered to homebuyers, both the lender and builder will share the loss of the loan amount disbursed. Under the subvention scheme, banks directly transfer sanctioned amounts to builders, who are then responsible for covering the EMIs until the flats are delivered. However, when builders default on the EMIs according to the tripartite agreement, banks seek payment directly from homebuyers. A bench consisting of Chief Justice Surya Kant and Justice V Mohana has…

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Jaipur Courts Handle Multiple FIR-Related Applications Against Builder

JAIPUR: Several applications related to criminal cases against real estate businessman Gyan Chandra Agarwal are currently before the courts in Jaipur, highlighting ongoing investigations into various land and property issues. Records indicate that Pink City Infrastructure Private Ltd. has filed multiple applications through its representatives concerning several FIRs lodged from 2019 to 2023. These applications address matters related to alleged cheating, forgery, criminal conspiracy, and breach of trust. The complainant company has requested judicial oversight regarding the status and progress of the investigations by law enforcement. Notably, despite numerous cases, Agarwal remains at large and has not been arrested. Additionally,…

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Bombay HC Denies Deemed Conveyance for Housing Society

MUMBAI: The Bombay High Court has annulled an order granting deemed conveyance to a housing society in Andheri West, stating that the competent authority under the Maharashtra Ownership of Flats Act lacked the power to entertain a second application on a finalized issue. Justice Farhan Dubash remarked that the deputy registrar of cooperative societies effectively exercised review powers that are neither recognized under the Maharashtra Ownership of Flats Act (MOFA) nor granted to it. He stated, “The second application was not only premature but also barred by principles akin to res judicata and the doctrine of finality of proceedings.” Justice…

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Delhi: NDMC Extends 10% Property Tax Rebate by June 30

NEW DELHI: The New Delhi Municipal Council (NDMC) announced on Saturday a 10% rebate on property tax for the fiscal year 2026-27. This rebate is available to taxpayers who settle their dues by June 30. The civic body encourages property owners in its jurisdiction to take advantage of this rebate by making timely payments through its online portal or through other approved payment methods. The rebate initiative has been a consistent part of the NDMC’s property tax collection strategy in recent years, aimed at promoting early payments and enhancing revenue collection. A similar 10% rebate was also offered last year…

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Chennai Civic Body Aims to Recover Loans from Property Defaulters

CHENNAI: The Greater Chennai Corporation (GCC) has recently addressed a letter to the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) regarding the low property tax collection, which stood at only 80% in the last financial year. The GCC is seeking directions that would require banks and financial institutions to include pending property tax dues when recovering loans from borrowers. To further enhance recovery rates, the GCC has also requested CERSAI to connect property tax defaults with CIBIL ratings and advise banks to deduct the owed amounts directly. GCC Commissioner G S Sameeran highlighted that there…

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Telangana HC Issues Warnings on Illegal Constructions, Fines Ahead

HYDERABAD: The Telangana High Court has taken a firm stand against illegal constructions, warning that petitioners who attempt to protect unauthorized parts of their buildings from demolition may incur substantial fines. Justice NV Shravan Kumar delivered a strong message, highlighting the concerning trend of builders disregarding approved plans and seeking judicial protection afterward. “You (the petitioner) should construct according to the plan. You believe you can act however you wish, and later we will see if someone identifies it as unauthorized. This mindset must change. We might consider ignorance as a factor, but those who choose to do it intentionally?”…

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NGT Acts on Plea Against Demolition Waste Center in Gurugram

GURUGRAM: The National Green Tribunal (NGT) has issued notices to the Municipal Corporation of Gurugram (MCG) and others regarding a proposed construction and demolition (C&D) waste collection center in Sector 106. The NGT’s notices, which also addressed the Department of Town and Country Planning (DTCP) and the Haryana State Pollution Control Board (HSPCB), were prompted by a petition from the Dwarka Expressway Gurugram Development Association (DXP-GDA). They challenged the facility’s location in Babupur, arguing that it is being developed without sufficient infrastructure to control dust. The case was heard on May 29, with updates published on Thursday by a bench…

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Bengaluru’s five corporations collect ₹2,949.56 crore in tax

BENGALURU: The East City Corporation has been recognized as the top performer in property tax collection, while the North City Corporation is at the bottom of the rankings. As of June 9, the Greater Bengaluru Authority (GBA) reported that its five city corporations collectively gathered ₹2,949.56 crore in property tax and additional revenues, which is 44.02% of their annual goal of ₹6,700 crore for the 2026-27 fiscal year. The East City Corporation led the way with collections amounting to ₹792.51 crore, achieving 47.35% of its target of ₹1,673.46 crore. The West City Corporation made a significant recovery from being the…

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Sambhajinagar to Create Cell for Recovering Property Tax Dues

CHHATRAPATI SAMBHAJINAGAR: The Chhatrapati Sambhajinagar Municipal Corporation (CSMC) is establishing a dedicated cell to recover outstanding property taxes from 493 government entities, totaling approximately Rs 30 crore. During a review meeting on Monday evening, Municipal Commissioner Amod Yedge announced that the new cell will facilitate swift recovery actions through rigorous follow-ups with defaulting establishments. While the full list of defaulters has not been released, officials indicated that it could be disclosed if payments are not made. Yedge evaluated tax assessments, progress in recovery campaigns, and other pending dues during the meeting. He cautioned officials from Zones 9 and 4 for…

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ED Probes Jalandhar Businessman’s Properties Further

JALANDHAR: The Enforcement Directorate (ED) continued its search on Wednesday at the offices and home of Amit Bajaj, a local contractor linked to municipal projects and known to have ties with the Aam Aadmi Party (AAP). Bajaj is reportedly involved in various projects for the Jalandhar municipal corporation and other government initiatives. The searches are part of an ongoing money laundering investigation related to Hampton Sky Realty Ltd, a firm allegedly associated with former Punjab minister Sanjeev Arora and his family, with Arora having been arrested by the ED last month. According to ED sources, operations were conducted at six…