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 Searches Punjab Properties in Real Estate Fraud Case

CHANDIGARH: On Tuesday, the Enforcement Directorate initiated searches at multiple sites in Punjab and Chandigarh linked to a real estate company and its promoters, as part of a money laundering investigation related to alleged fraud involving the Greater Mohali Area Development Authority (GMADA), according to officials. Locations associated with Chandigarh Royale City Promoters Pvt. Ltd. (CRCPL), Royale Estate Group (located in Zirakpur, Mohali), and other individuals such as Praveen Kansal alias Rocky, Neeraj Kansal, Daljit Singh, Anurag Midha, Liaqat Ali, and Sumit Bansal were targeted during these searches. This action was taken under the Prevention of Money Laundering Act (PMLA).…

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SC: Aravalli expert committee should consult domain specialists, stakeholders

Sure! Here’s a rephrased version of the provided content: NEW DELHI: The Supreme Court announced on Monday that the expert committee responsible for defining the Aravalli hills and ranges should engage with domain experts and various stakeholders, ensuring the public’s voice is included. The bench, consisting of Chief Justice Surya Kant, Justices Joymalya Bagchi, and Vipul M Pancholi, remarked that the committee’s composition should be limited to avoid becoming unmanageable. “We cannot have a committee with 30 members, as it would be unmanageable. A size of 5-7 members is preferable, along with consultations with experts. We will include this in…

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ITAT: Spouse’s Name on Property Papers Insufficient for Tax Sale Proceeds

MUMBAI: The Income Tax Appellate Tribunal (ITAT) in Mumbai has ruled that if a spouse’s name is included on a property for convenience or security, the income-tax department cannot automatically attribute the entire sale proceeds to that individual without assessing who actually funded and owned the property. This decision comes as a relief to a Mumbai taxpayer who faced a ₹62.5 lakh increase to her income. The tribunal instructed the I-T officer to validate her claim that she was merely a nominal co-owner, with the flat being entirely purchased and sold by her husband using his funds and that these…

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SRA Targets 219 Rehab Buildings in Mumbai Lacking OC

Representative AI image MUMBAI: The state government has initiated an amnesty scheme aimed at regularizing buildings lacking an Occupancy Certificate (OC). In response, the Slum Rehabilitation Authority (SRA) has issued notices to over 200 buildings citywide that have not obtained an OC but have been allocated to eligible slum dwellers. According to SRA data, there are 219 SRA rehabilitation unit buildings without an OC across the city’s 24 administrative wards. Consequently, the slum dwellers residing in these buildings are denied corpus funds for maintenance, and developers often pressure them to occupy the units before an OC is acquired to avoid…

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Bengaluru Civic Bodies See Revenue Drop from Khata Scheme

BENGALURU: A significant reduction in fees for converting B-khata properties to A-khata is poised to affect Bengaluru’s civic finances, with five city corporations projected to lose about ₹1,015 crore in revenue this year. As part of the “Nanna Khata Nanna Hakku” initiative launched by the Greater Bengaluru Authority on May 15, property owners now have 100 days to regularize B-khata properties by paying just 2% of the guidance value, down from 5%. Officials noted this adjustment will allow citizens to save substantial amounts; however, it will severely impact revenue streams that have already been included in the 2026-27 civic budgets.…

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ED apprehends Punjab real estate tycoon in land scam

CHANDIGARH: The Enforcement Directorate (ED) has arrested Ajay Sehgal, a real estate businessman, in connection with a money laundering case involving alleged fake consent letters used to acquire Change of Land Use (CLU) from the Punjab government, officials reported on Saturday. Officials stated that Sehgal, who also serves as Secretary of the Indian Cooperative House Building Society (ICHBS), was apprehended on Friday by the Jalandhar office of the ED under the Prevention of Money Laundering Act (PMLA). Earlier this month, the ED conducted raids at Sehgal’s properties linked to the Suntec City project developed by ICHBS. This investigation originated from…

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ED Seeks Witness Protection in Gurugram Homebuyer Fraud Case

NEW DELHI: The Enforcement Directorate (ED) has reached out to police forces in three states, requesting them to ensure the safety of homebuyers and witnesses who have reported receiving threats from Swaraj Singh Yadav, the arrested promoter of Gurugram’s Ocean Seven Buildtech Pvt Ltd. In November 2025, the ED arrested Yadav in connection with a money laundering case tied to claims that he duped buyers of affordable housing projects through unjust cancellations and re-allotments. During a bail hearing on May 18, Yadav’s victims informed the designated court in Delhi about experiencing “threats,” “intimidation,” and “coercive tactics” aimed at discouraging them…

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IBBI Unveils Guidelines to Faster Appoint Insolvency Pros

NEW DELHI: The Insolvency and Bankruptcy Board of India (IBBI) has released new guidelines for the empanelment of insolvency professionals, facilitating faster appointments in corporate insolvency and bankruptcy cases. These guidelines detail the procedure for creating a panel of insolvency professionals (IPs) to serve as Interim Resolution Professionals (IRPs), liquidators, resolution professionals (RPs), and bankruptcy trustees (BTs). In a circular issued on Monday, it was stated that applicants for empanelment must not be under suspension or debarment, nor engaged in any pending disciplinary actions. They must also declare if they have faced any criminal convictions in the last three years.…

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PMAY Scam: Lokayukta Uncovers ₹29 Crore Fake Billing in Belagavi

BELAGAVI: The Karnataka Lokayukta conducted raids on Tuesday after initiating a case against officials from the Karnataka Slum Development Board and a private contractor. This investigation pertains to alleged significant irregularities and fraudulent billing related to the Pradhan Mantri Awas Yojana (Urban) 2022 in Ramdurg, Belagavi district. Lokayukta teams executed simultaneous raids at several locations, including Slum Board offices in Hindalga (Belagavi), Shambulingappa’s residence in Hubballi, and the NPCC office in Bengaluru. The residences of individuals such as Girimallappa Jogur, Kiran Hosakoti, and Rindanagouda Shekargouda Patil in Vijayapura and Bagalkot districts were also searched. Key documents were seized, and further…

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Hyderabad: EOW probes Saket Engineers for villa fraud

HYDERABAD: The Cyberabad Economic Offences Wing (EOW) has initiated legal action against Saket Engineers, a real estate company that developed villas and flats near Kompally, following allegations of fraudulent practices involving mortgaging occupied properties as ‘unsold inventory’ to secure a 30 crore loan. The case, registered on May 12, stems from a complaint by A Rohit Reddy, a resident of Gowdavalli in Medchal-Malkajgiri district. Rohit claims that the company’s directors unlawfully mortgaged his villa number 94. He asserts that the land for the real estate project originally belonged to his family, and they entered a development agreement with Saket Engineers…