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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Bombay HC Panel: 400K Residents in Risky Buildings

MUMBAI: A committee appointed by the Bombay High Court has described it as a “miracle” that thousands of residents are still living in structurally unsafe buildings. The report raises serious concerns about the deteriorating condition of Mumbai’s ageing cessed structures, citing significant delays in redevelopment and a critical shortage of rehabilitation housing. The committee estimates that around 400,000 tenants occupy 12,552 cessed buildings in Mumbai, many of which are in poor condition and awaiting redevelopment. Prolonged legal disputes and insufficient transit accommodation have forced residents to remain in these unsafe environments. The risks were starkly highlighted when committee members narrowly…

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CBI Charges AVJ Developers, Bank Officials in Homebuyers’ Scam

NEW DELHI: The CBI has filed a chargesheet against AVJ Developers (India) Pvt Ltd, based in Greater Noida, along with bank officials and others for allegedly defrauding financial institutions and homebuyers, officials announced on Wednesday. In the chargesheet submitted to a special CBI court, the agency has named AVJ Developers, its sister company Kesar Builders Pvt Ltd, their directors, officials from Bank of India, UCO Bank, and ICICI Bank, as well as proxy homebuyers as co-defendants. The case revolves around the “large-scale cheating of homebuyers” by builders and public servants, resulting in significant losses to both financial institutions and unsuspecting…

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Bombay HC: Late NOC requests for construction near defense sites invalid

MUMBAI: The Bombay High Court has ruled that a no objection certificate (NOC) for construction near defense installations cannot be insisted upon after the fact. The court ordered relevant authorities to issue an occupancy certificate for two residential buildings near INS Trata. The bench, comprising Justices G S Kulkarni and Aarti Sathe, noted in a ruling on May 5 that requirements for an NOC from defense authorities should be applied in a fair and reasonable manner as per legal standards. The court mentioned that if claims regarding security concerns from the defense were valid, proactive measures should have been taken…

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Gujarat: Popular Builders Owner Denied Bail in Forgery Case

AHMEDABAD: A sessions court denied bail to 67-year-old Dashrath Patel, owner of Popular Builders, concerning a 2022 land fraud case. Currently imprisoned at Sabarmati Central Jail, Patel is accused of conspiring to forge land records for a sale deed from 1983 in Godhavi village. Patel’s legal representative contended that the issue is primarily civil and pointed out that the FIR was lodged almost 39 years after the alleged event without sufficient justification. He also mentioned that all evidence is documentary, with no forged documents featuring Patel’s signature or handwriting. His age, health conditions, cooperation with investigators, and the fact that…

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ITAT Grants Capital Gains Tax Exemption for In-Law Property

MUMBAI: In a landmark decision regarding capital gains tax exemptions, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has ruled that buying a residential property from close relatives should not be categorized as a sham transaction solely due to the tax advantages it may offer. The tribunal granted a ₹41.5 crore exemption under Section 54F to an individual who purchased a flat from her in-laws, overturning the tax department’s assertion that the transaction was merely a facade. Section 54F permits individuals to exempt long-term capital gains from the sale of any asset, other than a residential house, provided…

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Noida: Ajnara India fined ₹1.7L for flat handover delay

NOIDA: The District Consumer Disputes Redressal Commission (DCDRC) has ordered M/s Ajnara India Ltd, a Noida-based real estate developer, to compensate a customer with Rs 1.71 lakh plus 6% interest within 30 days, after they failed to deliver a flat booked in 2018 or refund the booking amount. The developer is also required to pay Rs 4,000 as a penalty for litigation costs and causing mental distress. The order, issued by Commission president Anil Kumar Pundir and member Anju Sharma on Saturday, stipulates that the interest on the outstanding amount will be calculated from the filing date of the complaint…

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NCLT OKs ₹730 Crore Revamp Plan for Rajesh Hotels

MUMBAI: The National Company Law Tribunal (NCLT) has approved Rajesh Business & Leisure Hotels’ resolution plan for the acquisition of a consortium involving Rare Asset Reconstruction Company (Rare ARC) and Check-Inn Hotels, a subsidiary of Shree Naman Group. The company reported liabilities exceeding ₹1,345 crore, while the consortium proposed a revival plan worth ₹730 crore. Prior to the tribunal’s endorsement, the plan received unanimous support from the creditors’ committee. In April 2022, the company entered the Corporate Insolvency Resolution Process after ICICI Bank filed a petition over a ₹311 crore default. The approved plan includes an upfront payment of approximately…

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Bombay HC directs Maharashtra to refund ₹3 lakh stamp duty

MUMBAI: The Bombay High Court has ordered the state government to refund Rs 3 lakh in stamp duty to a homebuyer who accidentally paid the amount under an incorrect stamp duty category. The petitioner, represented by advocate Charanjeet Singh Chandrapal, had purchased electronic stamps in March 2018 for registering a flat purchase agreement. However, due to an error, he selected the wrong option instead of “Non-Judicial Stamps.” When he sought a refund, his application was denied by the Collector of Stamps in Borivli, citing a delay of two months and eight days beyond the six-month statutory limit. Both the Collector…

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2,000 Notices Issued for Stilt Area Violations in Gurugram

CHANDIGARH: On Monday, the Haryana government informed the Punjab and Haryana High Court that authorities in Gurugram had issued nearly 2,000 notices to property owners for illegally enclosing stilt areas in violation of municipal regulations. Additionally, around 500 restoration orders have been issued, directing violators to remove unauthorized constructions. This information was presented before a division bench led by Chief Justice Sheel Nagu and Justice Sanjiv Berry during the continued hearing of a case where the court previously prohibited the Haryana government from enforcing the disputed ‘stilt plus four floor policy’ for residential plots in Gurugram, as stated in a…

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NCLAT Abolishes Insolvency for Embassy Development

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has overturned an NCLT decision allowing insolvency proceedings against Embassy Development, a real estate firm. In December 2025, the Delhi bench of the National Company Law Tribunal (NCLT) ordered the initiation of insolvency against Embassy Development following a petition by Canara Bank. The bank claimed that Embassy Development owed ₹200 crore as a corporate guarantor for a loan given to Indiabulls Realtech (now Simar Thermal Power). This NCLT decision was appealed by Rajesh Kaimal, a member of the suspended board of Embassy Development. The NCLAT ruled that the default claimed by…