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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CBI Raids Eight States in Builders-Financial Institutions Case

NEW DELHI: On Tuesday, the CBI executed searches at 77 locations across eight states linked to a builders-financial institutions nexus case, officials reported. The searches included areas in Delhi, Chennai, Puducherry, and Bengaluru, among others. This case was assigned to the CBI by the Supreme Court, which on April 29, 2025, instructed the agency to initiate seven preliminary inquiries against builders in the NCR, notably Supertech Limited. Later that year, the court ordered the registration of 22 cases involving homebuyers in the National Capital Region (NCR) who were misled through the subvention scheme. On September 23 of last year, the…

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NCLAT Delays Hearing on Vedanta’s Adani Bid Challenge

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has postponed its hearing regarding Vedanta Group’s challenges against the selection of Adani Enterprises’ bid for the financially troubled Jaiprakash Associates Ltd (JAL) until April 16. The case will be reviewed on Thursday, following a change in the bench composition due to one member’s unavailability. The tribunal was expected to conclude arguments from Vedanta’s legal team, after which lenders and the resolution professional would present their cases. However, the NCLAT decided to defer proceedings after discussions with the involved parties. Last Friday, Vedanta raised concerns about the evaluation criteria used by…

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ED raids Gurugram’s 32nd Avenue over ₹500 crore scam

NEW DELHI: On Monday, the Enforcement Directorate executed raids targeting a real estate group based in Gurugram as part of an investigation into an alleged ₹500 crore fraud involving investors, officials reported. Authorities searched seven locations associated with the entity known as 32nd Avenue, which operates in Delhi-NCR and Goa. The company or its promoter has not yet responded to requests for comment. According to ED officials, the case arises from multiple FIRs filed by Haryana Police, prompted by complaints from investors who claim to have been defrauded by the group. The promoter-directors of the group are currently either evading…

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SIT to Investigate MHADA Quota Irregularities in Nashik

MUMBAI: Maharashtra Minister Chandrashekhar Bawankule announced on Monday that a special investigation team (SIT) will be formed to investigate alleged irregularities in the implementation of the MHADA quota in Nashik, warning that those who deny the less fortunate their rightful homes will face consequences. This decision follows reports of misconduct concerning the allocation of the 20% MHADA quota designated for economically weaker sections (EWS) and low-income groups (LIG) in Nashik. Under the direction of Chief Minister Devendra Fadnavis, the SIT will be overseen by the Nashik divisional commissioner and will include senior state officials. Bawankule stated, “Those who obstruct the…

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No capital gains tax if flat’s sale price matches cost: ITAT

MUMBAI: The Income Tax Appellate Tribunal (ITAT) has determined that capital gains tax cannot be applied when the sale price of a property matches its purchase price, despite initial disagreements from the I-T officer due to documentation issues. In a recent decision, the Mumbai bench of the tribunal supported the appeal from taxpayer Kamini V, reversing a Rs 42.5 lakh addition made by the tax department under ‘short-term capital gains’ for the fiscal year 2015-16. The case involved a jointly owned residential property bought for Rs 85 lakh and sold two years later for the same amount. The I-T officer…

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NCLAT Confirms Project-Specific Insolvency for Realty Firms

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has affirmed that insolvency proceedings initiated by homebuyers against construction firms must be restricted to the specific project where the default occurred, rather than extending to other projects of the corporate debtor. The tribunal underscored that jeopardizing unrelated projects does not serve the interests of homebuyers or stakeholders involved in those projects. “The law is clear that when financial creditors or homebuyers from a single project file a Section 7 application due to default by the corporate debtor, the Corporate Insolvency Resolution Process (CIRP) must be limited to that project,” the…

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Ghaziabad Reduces Property Tax Rates by Up to 40%

GHAZIABAD: On Saturday, the Ghaziabad Municipal Corporation (GMC) approved a 35-40% reduction in property tax rates, resolving a year-long impasse after the UP government introduced revised tax slabs. The GMC’s executive committee approved the resolution, which will lower the maximum tax from ₹4 to ₹3.40 per square foot, effective from April 15. This rollback follows months of protests from residents and political tensions, especially as the upcoming assembly elections loom. The state government’s formal directive provided the necessary intervention to resolve the deadlock between elected officials and the civic body regarding the earlier tax hike. Under the new structure, property…

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ED Seizes ₹6 Crore in Homebuyers’ Fraud Case Against Earth Infrastructures

NEW DELHI: The Enforcement Directorate (ED) has confiscated ₹6.3 crore in cash and jewellery valued at ₹7.5 crore during investigations into a Delhi-based real estate company accused of defrauding homebuyers, which is currently facing insolvency proceedings, as reported on Saturday. The operation, conducted under the Prevention of Money Laundering Act (PMLA), began on Friday, targeting 10 locations associated with former directors, promoters, and related entities of Earth Infrastructures Ltd. (EIL) in Delhi and Gurugram. The company has been undergoing a corporate insolvency resolution process (CIRP) since June 2018, according to official records. The ED’s investigation was prompted by five FIRs…

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Delhi HC permits demolition in Shalimar Bagh area

NEW DELHI: The Delhi High Court has permitted authorities to initiate a demolition drive in Shalimar Bagh for public road expansion, granting residents until May 30 to vacate the area. A bench comprising Justices Prathiba M Singh and Madhu Jain reviewed a petition from Saroj, a Shalimar Bagh local, representing around 98 residents living on government-acquired land in Haiderpur village. The Delhi government was represented by Additional Solicitor General Chetan Sharma, Legal Aid Counsel Dheeraj Kumar Singh, and Standing Counsel Sanjay Kumar Pathak. In an order dated April 6, the court remarked: “The advancement of infrastructural projects, especially those concerning…

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Mangaluru civic body collects ₹149.6 crore in property tax FY26

MANGALURU: Mangaluru City Corporation (MCC) has achieved its highest property tax collection to date, amounting to Rs 149.6 crore under the Self-Assessment Scheme (SAS) for the financial year 2025-26, according to commissioner Ravichandra Naik. In a statement to the press, Naik mentioned that the estimated demand for the fiscal year was Rs 112 crore, with previous collections of Rs 137 crore in 2024-25 and Rs 117 crore in 2023-24. The city, divided into 60 wards, encompasses a total of 2,22,256 properties, comprising 1,75,724 residential units, 44,074 commercial properties, 1,175 industrial properties, and 1,283 non-residential properties. Naik noted that the rise…