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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NBCC to Seek Supreme Court RERA Exemption for 11 Supertech Projects

NEW DELHI: State-owned NBCC is preparing to approach the Supreme Court for an exemption from RERA registration, as 11 out of the 16 Supertech projects it is required to manage will need additional funding, according to sources familiar with the situation. The Supreme Court recently upheld an NCLAT ruling requiring NBCC to complete 16 housing projects managed by the financially troubled Supertech Limited. However, upon review, NBCC identified that funds would need to be reallocated to finish these projects, which is not permitted under RERA regulations. “The NCLT lacks the authority to grant RERA exemptions, which are crucial for delivering…

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Bombay HC Orders Developer to Withdraw Anticipatory Bail Plea

MUMBAI: The Bombay High Court has admonished a developer for approaching it while his anticipatory bail application was still under consideration at the Dindoshi Sessions Court, emphasizing that he should seek relief from the appropriate forum first. The court instructed the accused to promptly withdraw his anticipatory bail petition from the High Court and to pursue options available in the Sessions Court. Justice N.R. Borkar was hearing the bail plea from Housecon developer Mansukh Shah, who, along with his son Akash Shah, has been charged by the Economic Offences Wing (EOW). They allegedly induced a businessman to invest ₹5.15 crore…

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HC Orders Reinspection of Stormwater Drains near Apartments

BENGALURU: The high court has instructed the Bruhat Bengaluru Mahanagara Palike (BBMP), now known as the GBA, to reassess lands in Gubbalala village, Bengaluru South taluk, where two apartment complexes are located. This comes after a government-commissioned expert committee reported encroachments into stormwater drains. In his ruling, Justice R Nataraj stated that if the petitioners suggest an alternative drain alignment, the GBA must review it to ensure the unobstructed flow of water into Subramanyapura Lake, while also considering the interests of adjacent landowners. The judge added that should the petitioners fail to submit an alignment proposal within 15 days from…

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Mangaluru Launches Campaign to Enhance Property Tax Collection

Representative AI image MANGALURU: The Mangaluru City Corporation (MCC) has initiated a campaign aimed at enhancing property tax collection to boost revenue. A campaign vehicle was launched recently to facilitate drives for collecting overdue payments. MCC Commissioner Ravichandra Naik announced that the Self-Assessment Scheme (SAS) property tax will experience a 3% increase in accordance with government regulations. He urged residents to pay their property taxes punctually each year. The MCC raises property tax annually by 3% based on the market value set for 2023-24. For the fiscal year 2025-26, as directed by the administrator and Deputy Commissioner Darshan HV, this…

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Navi Mumbai collects ₹650 crore in property tax; 62% paid online

Representative AI image NAVI MUMBAI: The Navi Mumbai Municipal Corporation (NMMC) has collected ₹650 crore in property taxes so far this financial year, with a marked increase in digital payments. The tax was paid by 182,894 out of 360,000 property owners, with 62% opting for digital methods, totaling ₹383 crore, while the remaining 38% paid ₹267 crore offline. NMMC facilitated payments via UPI, QR codes, debit/credit cards, net banking, NEFT/RTGS, and IMPS. In its effort to achieve a target of ₹1,000 crore by March 31, NMMC has issued notices and seized properties from several defaulters. While some taxpayers reported issues…

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Morbi Ceramics Face ₹122 Crore Fine After NGTC Ruling

Here’s a rewritten version of the content: AHMEDABAD: The National Green Tribunal (West Zone) has dismissed appeals from 337 ceramic units in the Morbi and Wankaner region concerning the payment of ₹122.05 crore for environmental damage compensation (EDC) related to the use of banned coal gasifiers. The Gujarat Pollution Control Board (GPCB) had prohibited the use of coal gasifiers following Supreme Court scrutiny. Ceramic units were allowed to operate under the condition that they switch to PNG. A committee report in 2024 assessed environmental damage at ₹122.05 crore, proposing an equitable distribution of the amount among the affected industries. In…

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FIR Against 6 Directors in ₹5 Crore Gurugram Real Estate Fraud

GURUGRAM: An FIR has been filed against six directors of two real estate companies for fraud and criminal conspiracy. According to police, a resident of Sector 54 alleged that she was swindled out of ₹5 crore regarding a commercial project in Sector 57. The case has been registered under IPC sections 120B (criminal conspiracy) and 420 (cheating) at Sector 56 police station. The accused include Sanjay Gupta, Deepak Gupta, and Akshat Gupta, directors of Ameya Commercial Projects, as well as Anjali Gupta, Ekta Gupta, and Varuni Gupta, directors of Anek Estates and Ventures. Complainant Mridula Kumari claimed she was misled…

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HC Affirms Ghaziabad Property Tax Hike as Lawful

GHAZIABAD: The Allahabad High Court has declined to interfere with the Ghaziabad Municipal Corporation’s (GMC) decision to increase property tax. This ruling comes as a setback for residents, whose tax bills have surged by three to four times due to the revision. On Wednesday, a bench consisting of Chief Justice Arun Bhansali and Justice Kshitij Shailendra rejected a petition from three former GMC councillors, affirming that the corporation’s approach to setting minimum monthly rent rates (MMRR) and adjusting property tax accordingly was legally justified. The court stated, “We find no error in the determination of ‘MMRR’ nor any illegality in…

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ED Seizes Anil Ambani’s ‘Abode’ Valued at ₹3,716 Crore

File photo NEW DELHI: The Enforcement Directorate (ED) announced on Wednesday the attachment of Anil Ambani’s Mumbai residence, ‘Abode’, valued at ₹3,716 crore, under the anti-money laundering law. This action precedes Ambani’s anticipated second round of questioning by the agency on Thursday in connection with the alleged bank loan fraud involving Reliance Communications (RCOM). The lavish residence, standing at 66 meters with 17 floors, is situated in Mumbai’s Pali Hill area. The ED has issued a provisional order for the asset attachment under the Prevention of Money Laundering Act (PMLA), citing connections to alleged fraud related to RCOM. The agency…

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CAG Highlights Issues in PMAY-Gramin Bihar Implementation

PATNA: The Comptroller and Auditor General (CAG) of India has raised concerns about irregularities in the implementation of the PMAY-G scheme in Bihar. Allegations include the sanctioning of pucca houses to minors and geo-tagging of houses located in Delhi and Jharkhand. The findings were presented in the state Assembly on Thursday. According to the report, “During the audit of sampled districts, instances were found where houses were sanctioned to ineligible beneficiaries. The PMAY-G does not allow the registration of houses to minors unless specific conditions are met. In September 2017, the central government clarified that if both beneficiaries (husband and…