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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Bombay HC: Flat Buyers Get Monthly Interest Under RERA Delay

MUMBAI: On Monday, the Bombay High Court ruled that under the Real Estate (Regulation and Development) Act (Rera), buyers have an unequivocal right to receive interest monthly for possession delays. Justice Madhav Jamdar stated that the law aims to protect buyers from delays and ensure timely construction. Developers cannot postpone possession indefinitely while evading the consequences mandated by Rera. Therefore, buyers who remain invested in a project despite delays are entitled to interest for each month of delay until they receive possession. Ten buyers sought compensation due to a delay in a Mulund project booked between 2005 and 2007. An…

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Two Builders Arrested in Delhi Collapse that Killed Six

NEW DELHI: On May 30, the Delhi Police arrested a builder and a contractor over the collapse of a multi-storey building in Saidulajab, which resulted in six fatalities and eight injuries, officials announced on Tuesday. The suspects, identified as Avinash Gupta and Manish Khatri, were allegedly linked to the building’s construction and were taken into custody in various locations around the city. Investigators are currently questioning them regarding the construction process, permissions obtained, and their roles in the unauthorized addition of extra floors. Previously, the police had apprehended Karamveer, the building’s owner. During questioning, he indicated that construction on the…

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ED Seizes ₹100 Crore in Jaypee Properties, Alleges Gaur Laundering

NEW DELHI: The Enforcement Directorate (ED) has attached assets worth Rs 100 crore belonging to two real estate firms associated with Jaypee Infratech Ltd (JIL). The agency has accused JIL and its promoters of laundering part of the Rs 33,000 crore collected from homebuyers for the construction of flats in Jaypee Wish Town, which spans 1,162 acres in Noida along the Noida Expressway. “The investigation revealed that out of Rs 32,825 crore collected by Jayprakash Associates Ltd (JAL) and JIL from homebuyers, substantial amounts were misappropriated for non-construction purposes and transferred to related companies, such as JC World Hospitality Pvt…

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ED Raids Punjab, UP in Sanjeev Arora Case

JALANDHAR: The Enforcement Directorate launched new searches on Tuesday as part of a money laundering investigation involving Punjab Minister Sanjeev Arora and others in connection with a suspected ₹100 crore GST fraud linked to mobile phone sales. Authorities revealed that approximately six locations in Jalandhar, Ludhiana (Punjab), Bareilly, and Noida (Uttar Pradesh) are being examined. The searches target both residences and business offices associated with the individuals and entities under scrutiny, including Hampton Sky Realty Ltd., a company linked to Arora. Arora, 62, was arrested by the central agency last month after extensive searches at his official residence in Chandigarh,…

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SC Orders Settlement Execution in Ardee Family Dispute

NEW DELHI: The Supreme Court has instructed the execution of a settlement concerning the family of the late real estate developer Ashok Varma, associated with the Ardee Group and its family assets. A bench led by Justices J K Maheshwari and Atul S Chandurkar acknowledged the mediator’s report and ordered the parties to implement the settlement. The case involves Shefali Varma and Shibani Varma Kapur, the daughters of Ashok Varma, and their dispute over the family’s real estate assets and business endeavors. The court had assigned former Justice Kurian Joseph as a mediator to facilitate an amicable resolution. The bench…

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CBI Charges Ninex Developers and Director in Builder-Bank Case

NEW DELHI: The Central Bureau of Investigation (CBI) has charged real estate company Ninex Developers Ltd and its director for alleged fraud in a housing project based in Gurugram, according to official reports released on Monday. This marks the CBI’s 11th report related to builder-banker collusion, where numerous homeowners have been misled by false assurances. According to the charge sheet, the director of Ninex Developers purportedly deceived homebuyers and investors with misleading claims, profiting at their expense. The Supreme Court, on April 29, 2025, directed the CBI to initiate several preliminary inquiries into builders in the National Capital Region (NCR),…

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SC-appointed amicus requests MCD action on illegal constructions

NEW DELHI: An amicus curiae appointed by the court has approached the Supreme Court with requests for directions, including an affidavit from the Municipal Corporation of Delhi (MCD) detailing the survey and actions taken against illegal constructions in the capital. This plea comes in the wake of the collapse of a purportedly illegal five-storey building in Saidulajab, which resulted in six fatalities and at least 14 injuries on May 30. On March 25, a bench featuring Justices Ahsanuddin Amanullah and R Mahadevan expressed serious concern regarding the widespread violations of building regulations and the municipal authorities’ failure to curb unauthorized…

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EOW Arrests Director in ₹100-Crore Real Estate Scam; 5 Still Missing

LUCKNOW: The Uttar Pradesh Police’s Economic Offences Wing (EOW) has apprehended Mahipal Singh, a director involved in a suspected multi-crore real estate scam linked to Karmabhoomi Real Estate Company Limited. The company is accused of defrauding numerous investors across various districts. Five other directors and associates are still at large, according to police officials. Singh, aged 50 and hailing from Chhatikara in Mathura, was arrested on June 6 during a state-wide crackdown on economic offenders ordered by senior EOW officials. He had been evading arrest in relation to Investigation No. 44/2023, which originated from Case Crime No. 03/2023 filed at…

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Delhi HC Adds JK Paper as Defendant in Prithviraj Bungalow Case

Delhi High Court NEW DELHI: The Delhi High Court has added JK Paper Ltd as a defendant in the ongoing legal matter regarding a 3,731-square-yard bungalow located on Prithviraj Road in Lutyens’ Delhi, which the company purchased in December 2021 for Rs 250 crore. Punit Beriwala, the managing director of Vipul Ltd, contested the sale of this land, asserting that he had already made an advance payment for it. Beriwala’s attorney, Lokesh Bhola from Legal Icons, stated that his client made a significant payment towards the property in 2004 to previous owners Bhai Manjit Singh, Maheep Singh, and Bhai Vikramjit…

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Karnataka HC Supports Land Acquisition for Banashankari VI Stage

BENGALURU: In a significant development for the Bangalore Development Authority (BDA) and site allottees, the Karnataka High Court has upheld the acquisition of specific land parcels in Hemmigepura and Ganakallu villages located in Kengeri hobli for the Banashankari VI Stage project. A division bench consisting of Justices DK Singh and S Rachaiah delivered the ruling, overturning a previous decision made by a single bench on January 27, 2025. The court emphasized that once land is acquired by the state government free from all encumbrances, there is no basis for challenging the acquisition. It deemed the petition as a significant misuse…