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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Lucknow Civic Body Acts to Collect House Tax Dues

LUCKNOW: The Lucknow Municipal Corporation (LMC) launched a comprehensive initiative on Wednesday to recover outstanding house tax, resulting in the sealing and attachment of numerous residential and commercial properties across multiple zones. Municipal commissioner Gaurav Kumar directed this tax recovery effort with the aim of enhancing revenue. Officials confirmed that enforcement actions against tax defaulters will persist. LMC teams sealed several properties in zone-1 due to unpaid dues. A building on Naval Kishore Road was sealed for an outstanding house tax of ₹17.94 lakh. Following this action, the owner promptly paid ₹4 lakh to the corporation. Additionally, two properties on…

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Telangana HC Dismisses Union Bank’s Property Auction Appeal

HYDERABAD: The Telangana High Court has dismissed an appeal from Union Bank of India regarding the cancellation of an auction for a property owned by a city-based company undergoing liquidation. The court found that the bank had not adhered to proper legal procedures. A division bench, featuring Justices K. Lakshman and V. Ramakrishna Reddy, stated that while banks can recover funds through auctions, they must do so transparently and involve the official liquidator to ensure the property achieves the best possible sale price. The ruling came during the bank’s appeal against a March 2025 decision, in which a single judge…

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HC Upholds Land Acquisition for Banashankari VI Stage

BENGALURU: The High Court has upheld the Bangalore Development Authority’s (BDA) acquisition of land for extending Banashankari VI Stage, connecting the existing layout via Kanakapura Road. A division bench, comprising Justice DK Singh and Justice Tara Vitasta Ganju, rejected the appeals filed by K Gangamma and others against a single bench ruling that dismissed their petitions challenging the acquisition of 75 guntas in Gubbalala village. The land was initially notified on November 17, 2002, with the final notification released on September 9, 2003. The appellants argued they were unfairly treated compared to owners of 657 acres and 15 guntas who…

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Court Rules No GST on MIDC Plot Transfers to Third Parties

NAGPUR: The Nagpur bench of the Bombay High Court has ruled that transferring plots allotted by the Maharashtra Industries Development Corporation (MIDC) to third parties does not incur goods and services tax (GST). This decision aligns with a previous ruling from the Gujarat High Court concerning the transfer of land from the Gujarat Industries Development Corporation (GIDC) to a third party. The Gujarat court referenced a June 2017 notification that set a zero rate for a one-time charge on long-term leases (exceeding 30 years) by state government industrial development corporations to businesses. The court noted that if the original allottee…

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ED Files Final Report on Ex-MD of Jaypee Infratech’s Fraud

NEW DELHI: On Monday, the Enforcement Directorate (ED) submitted its prosecution complaint, akin to a chargesheet, against former Jaypee Infratech MD, Manoj Gaur. Gaur was arrested on November 13 of the previous year due to a case involving a ₹14,599 crore fraud with homebuyers. He is currently in judicial custody. The complaint was filed with Principal District and Sessions Judge Anju Bajaj Chandna. Meanwhile, a sessions court has scheduled Gaur’s bail plea for a hearing on January 17. The ED has alleged that funds raised from thousands of homebuyers for the completion of residential projects were misused for non-construction purposes,…

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Gurugram’s tax drive raises ₹30 crore in just 45 days

GURUGRAM: As the end of the financial year approaches, the MCG has ramped up its efforts to recover property taxes, collecting Rs 30 crore in the last six weeks, which represents about 10% of the total property tax revenue goal for the current fiscal year. In this initiative, the civic authority sealed off 55 properties due to non-payment and issued 410 notices to defaulters, as reported by taxation officials. The MCG aimed to collect Rs 275 crore in property tax for the financial year and has already surpassed this target, amassing Rs 295 crore. Officials indicated that the focus is…

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ED Seizes Land Worth ₹585 Crore in Haryana, UP

NEW DELHI: The Enforcement Directorate (ED) announced on Saturday the attachment of hundreds of acres of land in Haryana and Uttar Pradesh valued at over Rs 580 crore as part of a money laundering investigation against ADEL Landmarks Ltd., previously known as Era Landmarks Ltd. The firm has been accused of defrauding many homebuyers. The investigation targets the company’s promoters, Hem Singh Bharana and Sumit Bharana, according to the ED’s statement. An order issued on Friday under the Prevention of Money Laundering Act (PMLA) provisionally attached 340 acres of land in Gurugram, Faridabad, Palwal, Bahadurgarh in Haryana, and Meerut and…

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Ghaziabad Body Raises ₹194 Crore from Property Sales

GHAZIABAD: In its first auction of the year, the GDA generated Rs 194 crore from property sales. In Madhuban Bapudham (MBD), Pocket A, three land parcels of 2,382 sqm each were sold at Rs 66,500/sqm, Rs 67,100/sqm, and Rs 67,300/sqm, surpassing the base price of Rs 52,500/sqm. This collectively brought in Rs 47 crore for the GDA. Additionally, another land parcel of 8,875 sqm in MBD, reserved at Rs 52,500/sqm, was auctioned for Rs 53,200/sqm, contributing another Rs 47 crore. An 8,355 sqm land parcel sold for Rs 53,000/sqm against the same base price, adding Rs 44 crore to the…

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ED Chargesheets Ocean Seven Buildtech’s Promoter in PMAY Fraud

NEW DELHI: The Enforcement Directorate (ED) has filed a chargesheet against a promoter of a Gurugram-based real estate firm and several others as part of a money laundering probe related to an alleged fraud involving homebuyers under the Pradhan Mantri Awas Yojana (PMAY). This prosecution complaint was submitted to a special Prevention of Money Laundering Act (PMLA) court at Patiala House. The chargesheet involves several sections of the anti-money laundering law, identifying Swaraj Singh Yadav, the promoter of Ocean Seven Buildtech Pvt Ltd (OSBPL), along with associated entities as accused, according to the agency’s statement. This week, the ED attached…

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Prayagraj to Notify 40,000 House Tax Defaulters

Representative AI image PRAYAGRAJ: The Prayagraj Municipal Corporation (PMC) has identified 40,000 properties in the city whose owners have not paid property tax for the last three years. Notices will be issued to these owners, and action will be taken against those who do not comply. Such actions may include property attachment and water supply disconnection. This initiative is intended to enhance tax recovery and ensure compliance throughout the city. After receiving the notice, property owners will have 15 days to settle their outstanding payments. If the tax remains unpaid within this time frame, the PMC will pursue attachment proceedings.…