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 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…

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U.P. Minister Takes Action Against Errant Noida Builders

LUCKNOW: Nand Gopal Gupta Nandi, the state’s industrial development minister, urged officials on Tuesday to take stringent measures against builders who default on their obligations and expedite the resolution of issues between builders and buyers in Noida. He also raised concerns regarding alleged irregularities in project allocations and civic contracts. During a review of various projects under the Noida Industrial Development Authority, Nandi emphasized the need to resolve stalled housing projects and pending flat registrations promptly. Officials informed him that 57 projects were now governed by the policy framework established by the Amitabh Kant Committee, with 36 builders having deposited…

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Rajkot collects ₹152 crore in advance taxes in 40 days

RAJKOT: The Rajkot Municipal Corporation (RMC) has successfully collected Rs 153 crore in advance property and water taxes for the financial year 2026-27 within just 40 days. As of May 18, 2.43 lakh taxpayers have settled their dues since the tax collection initiative started on April 7. The RMC’s total tax collection for the last financial year was Rs 448 crore. Digital payments have taken the lead in tax collection, with 1.86 lakh citizens choosing to pay online, bringing in Rs 111.21 crore. In contrast, 57,731 taxpayers opted for traditional payment methods, contributing Rs 42 crore through cheques and cash.…

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Mohali Officials Hand Over Records in ₹150 Crore CLU Fraud Probe

MOHALI: On Monday, two senior officials from the Greater Mohali Area Development Authority (GMADA) attended a session with the Enforcement Directorate (ED) in Jalandhar as part of a Rs 150 crore money laundering investigation linked to significant real estate projects in Mohali. GMADA’s Chief Administrator, Sandeep Kumar, revealed that he did not attend the meeting personally, but that two representatives—including the District Town Planner (DTP) and a superintendent—were sent to provide all necessary documentation pertaining to the case. The officials presented a comprehensive set of records requested under the Prevention of Money Laundering Act (PMLA). The ED is probing the…

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Mumbai Builder Arrested for Illegally Selling SRA Flats

MUMBAI: The Economic Offences Wing (EOW) of the city police has apprehended builder Sohail Abdullah Dukka for unlawfully selling flats within a slum redevelopment initiative in Jogeshwari. The case emerged from a complaint by Mohammad Momin, who accused Dukka of misappropriating substantial funds while being a partner in Unique Developers, the company tasked with the “One Jogeshwari” Slum Rehabilitation Authority (SRA) project at Behram Baug, Jogeshwari West. Dukka is currently in custody for another case registered at the MIDC police station. He faces allegations of selling approximately 10 flats independently in the project between 2023 and December 2025 at rates…

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ED Summons GMADA Head in ₹150 Crore Money Laundering Case

MOHALI: The Enforcement Directorate’s (ED) Jalandhar zonal office has summoned the chief administrator of the Greater Mohali Area Development Authority (GMADA) to appear on Monday regarding a Rs 150 crore money laundering investigation. The investigation centers on alleged irregularities in the change of land use (CLU) approvals for two key real estate projects: Suntec City and Altus Space Builders Private Limited. The ED’s notice requires the chief administrator, or a representative with at least gazetted rank, to provide records and evidence at the Jalandhar office. These proceedings, conducted under Section 50 of the PMLA, are judicial in nature. Officials have…