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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Nagpur Civic Body Targets ₹749 Crore Property Tax for FY27

NAGPUR: The Nagpur Municipal Corporation (NMC) has set a property tax collection target of ₹749.82 crore for 2026-27. However, a significant discrepancy in its figures has emerged — ₹1,392 crore in arrears has been excluded from the recovery plan. Data obtained by TOI reveals that the total property tax arrears amount to ₹1,919 crore, but the NMC has only incorporated ₹526.85 crore — just 27% of the entire backlog — in this year’s recovery target. The exclusion of ₹1,392 crore greatly reduces the scope of the initiative. Senior officials have stated that arrears from government properties, mobile towers, and ongoing…

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SC Delays Order for Mining Lease Holders in Aravalli Row

Representative image NEW DELHI: On Friday, the Supreme Court announced that it will not issue any orders favoring mining lease holders at this time, citing “quite disturbing” feedback regarding mining activities in the Aravalli hills and ranges. The apex court highlighted specific ecological concerns and, as of February, requested the environment ministry and relevant stakeholders to propose experts for a panel aimed at defining the Aravalli hills and ranges. The bench, comprising Chief Justice Surya Kant and Justice Joymalya Bagchi, stated, “We will not hear this matter in a piecemeal manner. We will not allow any activity until we are…

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SC Panel: All Supertech Realtors’ Deals Require Approval

NEW DELHI: An empowered committee appointed by the Supreme Court has announced that prior permission is necessary for any real estate transactions involving Supertech Realtors at Noida. Earlier this month, the empowered committee issued a public notice underlining restrictions on the sale or transfer of units within the Supertech Realtors Pvt Ltd (SRPL) project. Supertech Realtors is developing ‘Supernova,’ a mixed-use real estate project in Sector 94, Noida, which includes residential, commercial, office spaces, studio apartments, service apartments, and shopping centers. Approximately 2,800 property buyers are currently affected by this project. In the notice, the panel, established in December last…

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ITAT Rules: Registered Sale Deed is Sacred

CHENNAI: A registered sale deed carries a strong presumption of authenticity and validity. The Income Tax Appellate Tribunal (ITAT) in Chennai highlighted that registration is a significant act that confers a high level of trust to the document. The tribunal, consisting of judicial member Aby T Varkey and accountant member S R Raghunatha, made this remark while overturning an order from an assessing officer who dismissed a sale deed as proof for the purchase of a flat, which also impacted the long-term capital gains exemption from the sale of a property and subsequent reinvestment in another residential property. This case…

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Lucknow to Introduce OTS Scheme for Tax Dues

LUCKNOW: Approximately 250,000 homeowners in the city will soon experience relief from long-standing house tax and water tax obligations. The Lucknow Municipal Corporation (LMC) is set to launch a one-time settlement (OTS) scheme addressing overdue payments owed to the civic body and its Jalkal department. The upcoming OTS initiative is modeled after previous successful programs by the Lucknow Development Authority and UP Awas Vikas Parishad. According to official records, the accumulated house tax debts owed to the LMC have reached around ₹700 crore, which includes nearly ₹100 crore in interest. The Jalkal department also reports approximately ₹110 crore in overdue…

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NCLT Accepts Insolvency Plea for Supreme Housing & Hospitality

MUMBAI: The National Company Law Tribunal (NCLT) has accepted Canara Bank’s insolvency petition against Supreme Housing and Hospitality Private Limited, a Mumbai-based real estate firm, over outstanding dues exceeding ₹567 crore. This move follows several unsuccessful attempts at a one-time settlement and extended litigation. The Mumbai bench of the tribunal commenced the corporate insolvency resolution process (CIRP) against Supreme Housing on May 13 under Section 7 of the Insolvency and Bankruptcy Code (IBC). Canara Bank indicated a default amounting to ₹567.43 crore as of October 31, 2025, which includes a principal amount of ₹175.83 crore and interest dues of ₹391.60…

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Hyderabad Builder in Trouble for Mortgaging Villa Without Consent

HYDERABAD: A villa owner in a gated community near Kompally has filed a police report claiming her property was unlawfully mortgaged by the builder in October 2025, falsely presenting it as unsold. The Medchal police have opened a case against the real estate developer and the private firm that allegedly provided a loan based on this mortgage. The complainant, Anitha Vittal, who is a senior corporate executive, alleged that numerous other properties developed by the builder, including a venture for senior citizens, were also mortgaged without consent in the same deed to secure loans in 2025. Anitha discovered the fraud…

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Haryana: I-T Searches Tehsil Office, Finds ₹45,000 Crore Discrepancies

GURUGRAM: On Tuesday, the income tax department conducted surprise verification and survey operations at sub-registrar offices in Gurugram and Mohali. This action was prompted by reports of significant lapses in the reporting of high-value real estate transactions. The operations commenced early in the day at the tehsil office located in the mini secretariat, where officials have uncovered discrepancies in property transactions amounting to Rs 45,000 crore at the Gurugram tehsil. This initiative is part of a nationwide data-validation effort aimed at evaluating the accuracy and quality of information provided by designated reporting entities. According to the law, sub-registrar offices are…

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Punjab Minister Sanjeev Arora Challenges ED Arrest in HC

CHANDIGARH: Punjab Cabinet Minister Sanjeev Arora has approached the Punjab and Haryana High Court, contesting his arrest by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA), deeming it “illegal and unconstitutional.” This plea was presented to a bench consisting of Chief Justice Sheel Nagu and Justice Sanjiv Berry, which heard arguments from Arora’s attorney, Puneet Bali, before adjourning the matter to May 14. The ED arrested Arora on May 9 as part of an investigation into an alleged ₹100-crore GST fraud money laundering case linked to him. At 62 years old, Arora was detained under PMLA…

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CBI Charges Logix City Developers, Bank Officials in Fraud Case

NEW DELHI: The Central Bureau of Investigation (CBI) has submitted a chargesheet against a real estate company, along with its directors and officials from two private banks, for allegedly conspiring to defraud homebuyers and financial institutions in relation to a housing project in Noida, officials announced on Tuesday. The agency stated that charges have been filed against “Logix City Developers Pvt. Ltd. and its Directors, Bank Officers from ICICI Bank and HDFC Bank” for their purported roles in a criminal conspiracy that resulted in wrongful loss to financial institutions and homebuyers. The CBI alleges that the developers misled buyers and…