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 Revokes DHFL Promoter’s Bail, Orders Surrender in 2 Weeks

NEW DELHI: The Supreme Court on Tuesday revoked the bail previously granted to former DHFL promoter Dheeraj Wadhawan in connection with a substantial bank loan scam. A bench comprising Justices Sanjay Kumar and Satish Chandra Sharma issued the order after reviewing a medical board’s report and instructed Wadhawan to surrender within two weeks. The Delhi High Court had granted him bail on September 9, 2024, citing medical reasons, stating that Wadhawan fit the definition of a “sick person”. This ruling followed an appeal by the CBI against the high court’s decision. Additional Solicitor General S V Raju, representing the agency,…

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Karnataka HC: BDA Must Prove Title in Sadashivanagar Case

BENGALURU: The Karnataka High Court has resolved two writ appeals concerning a protracted land use and ownership dispute over a one-acre plot adjacent to the Sadashivanagar Club. The court ruled that the land use designation in the Bengaluru Master Plan has expired due to non-utilization. A division bench consisting of Justice SG Pandit and Justice TM Nadaf stated that any further actions on the application filed by members of the former Mysuru royal family would hinge on the outcome of a pending civil suit before the Bengaluru city civil judge. The appeals were put forth by the Bangalore Development Authority…

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Delhi HC Rejects Bail for DHFL Promoter in ₹34,926 Crore Fraud

NEW DELHI: The Delhi High Court denied bail to DHFL promoter Kapil Wadhawan in a Rs 34,926 crore bank fraud case, citing his “unreproachable” conduct in custody. Justice Ravinder Dudeja stated that such economic crimes affect not just individual victims but the entire financial system. The CBI alleges that Wadhawan was the principal architect of a significant financial fraud, diverting and misappropriating approximately Rs 34,926 crore from a consortium of 17 banks. The judge noted, “The applicant’s conduct during custody has not been beyond reproach. Allegations of manipulating valuable assets and transactions during judicial custody are serious and imply continued…

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Nagpur Tax Defaulters: Just 106 of 460,000 Properties Targeted

NAGPUR: The Nagpur Municipal Corporation (NMC) has commenced property auction proceedings against only 106 defaulters, which represents a negligible 0.002% of the 460,000 property owners who failed to pay their taxes during the 2024-25 fiscal year. Despite property tax arrears amounting to an alarming ₹938.7 crore, excluding penal interest, the NMC’s enforcement actions appear insufficient. Although the civic body has begun auctioning properties to recoup long-overdue payments, the scale of these actions is too minimal to significantly reduce the arrears or deter further tax non-compliance. According to data, the NMC issued 13,224 recovery warrants aimed at collecting ₹126.35 crore. Of…

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HC urges govt to stop illegal construction in Bhopal’s Arera Colony

Representative image created by AI BHOPAL: The rampant commercialization of the upscale residential area of Arera Colony has drawn the attention of the Madhya Pradesh High Court. The petitioners are asking for the court’s intervention to halt extensive illegal constructions including shops, showrooms, hotels, restaurants, office complexes, and other commercial enterprises in sections E-1 to E-5 of Arera Colony. This area has retained its residential designation since 1968, when it was leased to individuals for housing. The original land use remains unchanged, yet the area’s commercial encroachments are evident. Following an initial hearing, a division bench of the MP High…

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NCLT Excludes Phoenix ARC from Hotel Horizon Creditors’ Committee

The National Company Law Tribunal (NCLT) has partially accepted the request made by the suspended promoters of Hotel Horizon, ruling that the claim from asset reconstruction firm Phoenix ARC is invalid due to being barred by the statute of limitations. Hotel Horizon’s primary asset is a valuable 1.85-acre plot located in Juhu, Mumbai, with a view of the Arabian Sea. Last month, a consortium comprising Oberoi Realty, Shree Naman Developers, and JM Financial Properties received the committee of creditors’ (CoC) approval to acquire the company through the corporate insolvency resolution process (CIRP). The CoC has approved a resolution plan that…

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HC Upholds YEIDA’s Decision to Cancel Greenbay Land Allotment

NOIDA: The Allahabad High Court’s Lucknow bench has issued an injunction against the Yamuna Expressway Industrial Development Authority (YEIDA) from canceling Greenbay Infrastructure’s land allotment for its 100-acre township project in Sector 22D. YEIDA is prohibited from proceeding with the cancellation until the state government addresses the company’s two revision applications seeking relief under the “zero period” policy, which concerns non-possession of 30-35% of the land. The “zero period” policy allows developers some relief from interest and penalties on unpaid land dues for projects that have been stalled. This interim order, issued on July 30, came just one day before…

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FIRs Launched to Combat Illegal Sand Mining in Maharashtra

PUNE: The state government has instructed district collectors and police commissioners to register FIRs and take strict criminal action against individuals engaged in unauthorized excavation, transport, and use of sand or other minor minerals. On July 17, the revenue and forest departments issued a circular that empowers officials to prosecute offenders under various laws, including the Maharashtra Land Revenue Code of 1966, the Bharatiya Nyaya Sanhita (BNS) of 2023, the Environment Protection Act of 1986, the Mines and Minerals (Development and Regulation) Act of 1957, and the Prevention of Damage to Public Property Act. The circular also states that any…

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FIR Filed Against Ansals, Officials in Farmhouse Land Fraud

Representative image created by AI GURUGRAM: After a decade of a complaint regarding extensive land manipulation, the Anti-Corruption Bureau (ACB) initiated an FIR on Friday against Ansal Housing, its partner firms, a former patwari, and officials from the revenue department for constructing illegal farmhouses in the Sohna Aravalis. These officials have been charged with altering the classification of land from ‘gair mumkin pahad’ (protected uncultivable hills per the Punjab Land Preservation Act) to ‘farmhouse’, ‘roads’, and ‘houses’ in revenue records dating back to 1995. This alteration allowed the development of farmhouses on protected Aravali land, breaching the Aravali Notification of…

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Secunderabad Cantonment to Cut Water Supply for Defaulters

HYDERABAD: The Water Supply Department of the Secunderabad Cantonment Board (SCB) is set to disconnect water supply to residents with outstanding dues across eight wards in an effort to collect long-standing payments. Officials report that approximately ₹6 crore is owed to the board by defaulters. Madhukar Naik, the SCB’s Chief Executive Officer, stated, “We have exercised patience in hopes that residents would eventually pay, but due to our financial constraints, we have adopted a firmer approach. Our monthly expenditure for water procurement from the Hyderabad Metropolitan Water Supply and Sewerage Board exceeds ₹35 lakh.” SCB records indicate that out of…