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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NCLT Permits Withdrawal of Insolvency for Nobility Estates

NEW DELHI: The National Company Law Tribunal (NCLT) has permitted the withdrawal of the corporate insolvency resolution process (CIRP) against Nobility Estates, the developer of ATS Group’s residential project Le Grandiose in Noida, following an agreement reached between lenders and the previous management. The order was issued by the NCLT Principal Bench, led by Acting President Bachu Venkat Balaram Das and Member (Technical) Ravindra Chaturvedi on May 5, 2026. The application was submitted by resolution professional Hitesh Goel under Section 12A of the Insolvency and Bankruptcy Code (IBC) along with related regulations. Insolvency proceedings against Nobility Estates commenced on November…

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CBI Files 7th Chargesheet in Builder-Banker Scam vs. Sequel Buildcon

NEW DELHI: The CBI has filed its seventh chargesheet in the case against Sequel Buildcon Private Limited for alleged fraud against homebuyers, claiming that the company misused funds from PNB Housing Finance for the Noida project ‘The Belvedere,’ officials reported on Monday. The investigation is part of a larger inquiry into 50 cases assigned to the CBI by the Supreme Court, with allegations that the company failed to provide possession of residential units and did not refund deposits made by homebuyers. Approximately 23 individuals initiated the legal action that led to the Supreme Court transferring the case to the CBI.…

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Gurugram Builder Arrested for Defrauding Client of ₹15 Crore

GURUGRAM: The Gurugram Police have apprehended a 50-year-old real estate firm owner, Mahesh Mugam, for allegedly defrauding individuals of crores by promising land agreements, officials reported on Sunday. Mugam resides in Sector 75, Noida. As per police reports, a complaint was filed on January 20 by an individual who claimed that Neon Infra Construction Solutions Company and its affiliates presented documents indicating the sale of approximately 11.33 acres of land located in Ghughera village, Palwal district, Haryana. The accused executed a land sale agreement on August 1, 2024, and accepted around Rs 17 crore for the entire transaction and associated…

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Punjab Minister Sanjeev Arora in 7-Day ED Custody

File photo GURUGRAM: A special PMLA court in Gurugram has remanded Punjab Industries Minister Sanjeev Arora to Enforcement Directorate (ED) custody for one week in connection with an alleged Rs 100-crore GST fraud-related money laundering case. The court noted that the allegations are “very serious” and the ED needs to investigate further. The lawyer representing Arora, a senior member of the Aam Aadmi Party (AAP) in Punjab, claimed that a “false and frivolous” case was fabricated against him, asserting that “no prima facie evidence” was gathered prior to his arrest. Arora, aged 62, was taken into custody by the ED…

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Bombay HC Rejects Tenants’ Request to Add Builder in Petition

MUMBAI: The Bombay High Court has rejected a request from 52 tenants of a demolished building in Ghatkopar (W) to include a new developer in their redevelopment petition, imposing a cost of Rs 5 lakh on them. In their ruling on Wednesday, Justices Ajey Gadkari and Kamal Khata observed, “It prima facie appears that the current application is moved and financed by the proposed respondent (developer) to establish an unenforceable right against the landlords and original developer.” In February 2024, the tenants had urged the HC to speed up the redevelopment of Kamla Bhuvan, a dilapidated structure on LBS Marg,…

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Hyderabad: Two Firms Accused of Duping 40 Investors of ₹39 Crore

HYDERABAD: The Economic Offences Wing (EOW) of Cyberabad police has initiated a cheating case against the directors and partners of two private firms. The individuals are accused of defrauding over 40 investors of more than Rs 39 crore in a proposed villa project in Pocharam, Patancheru mandal. The complaint was filed by O Venkata Koteswara Rao, a 49-year-old IT employee from Miyapur. He alleges that R Srikanth Reddy, director of RSR Greenway Infra, along with his wife and co-director Rajeswari, and partners of Suryodaya company, Swamy Reddy and Reddy Sharadha, deceived him and 41 other investors. According to Rao, in…

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Kerala’s Luxury Tax on Big Homes Yields ₹157 Crore in 5 Years

IDUKKI: The luxury tax on residential buildings has generated ₹157.62 crore for the state over the past five years, with the highest revenue recorded in the 2025-26 financial year (FY). According to data obtained through the Right to Information Act, the state collected ₹67.66 crore in FY2025-26 alone, with Ernakulam and Thiruvananthapuram reported as the highest contributors. The luxury tax revenue for the preceding years was ₹58.46 crore in FY2024-25, ₹7.39 crore in FY2023-24, ₹11.18 crore in FY2022-23, and ₹12.91 crore in FY2021-22. Land revenue department officials attribute the increase in FY2025-26 to a growing number of larger homes and…

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ED Files Case Against TDI Infrastructure and Directors

CHANDIGARH: The Directorate of Enforcement (ED) has filed a prosecution complaint against TDI Infrastructure Ltd. and its directors — Ravinder Taneja, Kamal Taneja, and D N Taneja — under the Prevention of Money Laundering Act (PMLA), 2002, officials confirmed on Saturday. This action follows the chargesheet filed by the Gurugram unit of the ED before the special PMLA court at Patiala House, New Delhi, which has issued notices to all accused parties. As per ED, the investigation was triggered by several FIRs and charge sheets from Delhi Police. The agency accuses TDI Infrastructure and its promoters of cheating numerous homebuyers…

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Hubballi-Dharwad extends 5% property tax rebate to May-end

HUBBALLI: The Hubballi-Dharwad Municipal Corporation (HDMC) has extended the 5% property tax rebate through the end of May due to lower-than-expected collections following a delayed start to the payment initiative. The collection process, which was set to kick off on April 1, began instead on April 7. Initially, the rebate was available for taxpayers who paid their dues for the fiscal year 2026-27 by April 30. However, as collections remained disappointing, the rebate period has now been prolonged until May 31. HDMC has established a property tax collection target of Rs 235 crore for 2026-27, with just Rs 90 crore…

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Patna offers ₹40 lakh rebate for early property tax payers

PATNA: The Patna Municipal Corporation (PMC) has granted approximately Rs 40 lakh in tax relief to 35,948 property owners who took advantage of the early-payment incentive scheme from April 1 to May 7, 2026. According to the Bihar Municipal Property Tax Rules, 2013, the civic authority is offering a 5% discount on the principal tax amount for lump-sum payments made in the first quarter of the 2026-27 fiscal year. This rebate will be available until June 30. During the initial five weeks of this scheme, the corporation collected nearly Rs 11 crore in property tax. Data from PMC reveals that…