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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ED Charges Five with Laundering ₹36.66 Crore from Sand Mining

PATNA: The Enforcement Directorate (ED) has lodged a prosecution complaint in the Special PMLA Court in Patna against Arun Yadav, Kiran Devi, Rajesh Kumar Ranjan, and Dipu Kumar, as well as their company, Kiran Durga Contractors Pvt Ltd, for money laundering. This case centers around substantial illegal funds generated primarily through unauthorized sand mining in Bihar, alongside corruption and related criminal activities. The investigation commenced following multiple FIRs filed by Bihar Police and the Special Vigilance Unit alleging various offenses, including cheating, extortion, illegal sand mining, and possession of assets disproportionate to their lawful income. During the inquiry, the ED…

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Nashik Civic Body Gathers ₹272 Crore in Property Tax FY26

NASHIK: The Nashik Municipal Corporation (NMC) has achieved a record property tax collection of Rs 272 crore in the financial year 2025-26, marking the highest amount in its 43-year history. Officials anticipate an additional Rs 10-15 crore to be collected in the remaining 21 days of the fiscal year. The target set for property tax collection was Rs 270 crore. Officials cited a significant boost from the 15-day amnesty scheme for tax defaulters, conducted from February 23 to March 9, which generated Rs 46 crore in outstanding dues. “During this period, over 13,000 defaulters cleared arrears totaling Rs 45 crore…

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Maharashtra: New Stamp Duty Penalty Starts January 1

PUNE: The increased penalty of ₹1 lakh for executing property documents without adequate stamp duty will be effective from January 1, 2026. An official from the Inspector General of Registration (IGR) office confirmed this on Monday, stating, “The amendment was notified on December 31, 2025, and will be enforced starting January 1, 2026. Any case registered concerning a shortfall in stamp duty post this date will be subjected to the revised penalty.” During the Maharashtra Budget presentation for 2026-27 on March 6, Chief Minister Devendra Fadnavis emphasized this change, proposing an increase in the penalty from the existing ₹5,000 to…

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High-Priced Homes Out of Reach for Middle Class: Punjab HC

CHANDIGARH: The Punjab and Haryana High Court has raised grave concerns regarding the skyrocketing costs of residential plots and flats auctioned by government development agencies in the Tricity—Chandigarh, Panchkula, and Mohali—asserting these prices have made home ownership unattainable for middle-class and salaried professionals. The court has instructed the governments of Haryana, Punjab, and UT Chandigarh to develop a proposal aimed at addressing affordable housing, suggesting alternatives like lottery systems for all societal segments, including the salaried and middle class. “It seems that state authorities have begun prioritizing profit, abandoning the common citizen. The auction prices for residential properties are exorbitant,”…

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Cops File Second Chargesheet Against Radius Estates’ Promoter

MUMBAI: Authorities have filed a chargesheet against Sanjay Chhabria, the promoter of Radius Estates and Developers Pvt Ltd, for allegedly defrauding Yes Bank of ₹30.39 crore by misappropriating funds designated for a redevelopment initiative. In 2018, Chhabria secured a ₹50-crore overdraft for the Mhada redevelopment project “X BKC.” However, ₹30.39 crore of that amount was improperly redirected to related enterprises, such as Radius Enterprises and Sea Fuss Realty, rather than being utilized for the project’s intended purpose. According to the approval letter from April 2018, these funds were meant to address the project’s working capital needs and cash-flow discrepancies. Investigators…

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Mumbai Police nab Kolhapur developer in ₹55 crore scam

MUMBAI: The Economic Offences Wing of the city police has arrested a developer from Kolhapur for allegedly colluding with others to mortgage and sell flats in a redevelopment project in Versova, Andheri. This was done without the consent of the society members, using forged documents, resulting in a loss of Rs 55 crores. The arrested individual, Amrut Uttam Mahendrakar (34) from Ichalkaranji, is accused of aiding in the creation of forged documents and facilitating the illegal sale and mortgage of flats. He is the second suspect arrested in this case, following the capture of Amarjit Shukla, owner of Mid City…

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Bengaluru issues final warning to 1,010 property tax defaulters

BENGALURU: The Greater Bengaluru Authority (GBA) has issued a final warning to property owners who are overdue on their property taxes, with a total of Rs 33.9 crore pending from 1,010 property owners across the five city corporations. Special Commissioner (Revenue) Munish Moudgil stated that Rs 14.3 crore is owed by 510 significant defaulters, while Rs 19.6 crore is awaiting resolution in 500 property tax reassessment cases. “Zonal joint commissioners have been directed to accelerate the recovery from major defaulters and those in reassessment. The list of the top 50 defaulters and reassessment cases for each municipal corporation is now…

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Lucknow Civic Body Seals Seven Establishments for Tax Dues

LUCKNOW: On Monday, the Lucknow Municipal Corporation (LMC) sealed seven establishments across zones 2 and 4 as part of a drive to recover outstanding property and house tax from major defaulters. In zone 4, three government-sector buildings were sealed due to significant tax arrears. Zonal officer Shilpa Kumari stated that these institutions had received multiple notices to clear their dues, but payments were not forthcoming. The sealing process was initiated in accordance with municipal regulations. According to records, these three establishments collectively owe more than Rs 1.5 crore in property taxes. Officials confirmed that the enforcement team carried out the…

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Calcutta HC Cancels Builder’s Bail, Rejects ‘Sinful’ Protection

KOLKATA: The Calcutta High Court has revoked the bail granted to a builder involved in a cheating case by a lower court, stating that the liberty of an accused cannot be safeguarded by an order “born in sin”. Justice Uday Kumar noted that a bail order that is unsigned or partially initialed, lacks a rationale addressing the victim’s specific objections, and disregards witness intimidation history, constitutes a perverse ruling that the high court must annul. “This case showcases a troubling scenario where the liberty of the accused overshadowed the victim’s safety through an order that fails the fundamental requirements of…

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Karnataka HC: Cooperative Model Unsuitable for Apartment Management

BENGALURU: The high court has declared that a cooperative society is not a suitable method for managing residential apartments and their communal areas on behalf of owners. This ruling led to the cancellation of the registration for the Sobha HRC Pristine Apartment Owners Cooperative Society in Jakkur. Justice MG Uma issued the order while accepting a petition from Msrs Sobha Limited, nullifying the registration that had been granted by the assistant registrar of cooperative societies in the Bengaluru Urban district on September 6, 2023. Additionally, the court overturned a decision made on February 7, 2024, by the deputy registrar of…