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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ED Seizes ₹944 Crore in Properties Linked to Housing Fraud

NEW DELHI: The Enforcement Directorate (ED) has seized immovable assets valued at approximately Rs 944 crore under the Prevention of Money Laundering Act. This action is tied to allegations of failure to deliver housing units to more than 1,500 homebuyers in Haryana and Rajasthan, officials reported on Monday. The affected projects are situated in Palwal, Faridabad, Rewari, and Bhiwadi, where buyers allegedly did not receive possession even after making payments, the agency stated. In a recent announcement, the ED indicated it “has provisionally attached immovable properties worth about Rs 944 crore, owned by Piyush Colonisers Limited, former promoters of the…

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SC allows Adani’s JAL acquisition, urges NCLAT to act fast

NEW DELHI: The Supreme Court on Monday decided against halting the Adani group’s ₹14,535 crore acquisition bid for the financially troubled Jaiprakash Associates Limited (JAL), while ensuring that the firm’s monitoring committee can’t make any significant policy decisions without the approval of the National Company Law Appellate Tribunal (NCLAT). A bench led by Chief Justice Surya Kant and Justice Joymalya Bagchi instructed mining giant Vedanta Ltd, which opposes the resolution plan, alongside Adani Enterprises Ltd, to present their arguments and counterclaims before the NCLAT, which is set to commence final hearings on the matter on April 10. The Supreme Court…

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Goa Forum Dismisses Compensation Complaint for Service Deficiency

PANAJI: The North Goa District Consumer Dispute Redressal Commission dismissed a complaint from a Bardez resident against a Carambolim-based proprietor, who failed to deliver promised plots after accepting payment. According to the complaint, on August 30, 2019, Nivisha Pawaskar entered a memorandum of understanding with Carambolim proprietor Dhaku Madkaikar to buy two plots of 300 sqm each for a total of Rs 10.8 lakh at Buimpal, Sattari. When Madkaikar did not deliver the plots, Pawaskar sent him a legal notice. In response to the notice, Madkaikar returned Rs 2 lakh and Rs 50,000 months later, but did not return the…

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BMC Voices Concerns on Dangerous Buildings in Mumbai

MUMBAI: The BMC has raised significant concerns regarding procedural lapses in the management of dangerous (C-1 category) buildings, cautioning ward-level officials about the potential disciplinary and legal repercussions for failing to follow established regulations. In a comprehensive circular dated April 2, additional municipal commissioner (city) Dr. Ashwini Joshi highlighted that ward offices are not complying with the standard operating procedures (SOPs) set forth by previous municipal directives and Bombay High Court rulings pertaining to decrepit structures. The SOP, initially established through a 2016 circular in response to a High Court petition, mandates that all actions taken against unauthorized constructions and…

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Punjab Extends Taxpayer One-Time Settlement to May 31

CHANDIGARH: The Punjab government announced on Saturday a two-month extension for the One Time Settlement (OTS) scheme aimed at recovering outstanding dues, now extended to May 31, 2026, from the original March 31, 2026 deadline, according to finance minister Harpal Singh Cheema. Cheema mentioned that the taxation department has received 9,151 applications so far, resulting in a total revenue collection of ₹134.21 crore. The state government has already granted waivers amounting to ₹446.17 crore. “This extension offers a final chance for eligible taxpayers to settle their dues and achieve financial relief. The taxation department has also identified 8,000 properties belonging…

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Belagavi Property Tax Growth Stalls Despite Building Boom

BELAGAVI: Despite the rapid expansion of Belagavi city, the collection of property taxes has not kept up, raising concerns about the financial management of the city corporation. As of March 31, there are 165,958 properties across 58 wards in the city, with an estimated addition of 10,000 to 15,000 new properties each year. However, this growth has not resulted in a corresponding increase in civic revenue. In the fiscal year 2025-26, the city corporation collected ₹70.8 crore in property tax, a slight increase from ₹69.5 crore in 2024-25, falling significantly short of the ₹89 crore target. Officials have indicated that…

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SC Denies Bail to Bhasin Infotech Promoter in Fraud Case

NEW DELHI: Six years after being granted bail in a case involving cheating homebuyers, the Supreme Court on Thursday revoked its previous order. The court directed Satinder Singh Bhasin, the promoter of Bhasin Infotech and Infrastructure Private Limited, to surrender and return to custody, noting that he had breached bail conditions and misappropriated Rs 75 crore from homebuyers while on bail. A bench comprising Justices Sanjay Karol and N K Singh granted Bhasin one week to surrender, stating that he must serve at least one year in jail. The court indicated that he could apply for regular bail again after…

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NCLAT: Insolvency Process for Raheja Shilas Project to Continue

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has rejected Raheja Developers’ request to terminate the insolvency resolution process concerning its Raheja Shilas project in Gurugram, citing unresolved issues with flat buyers. The tribunal stated that an application under Section 12A of the Insolvency and Bankruptcy Code (IBC) for withdrawal from the Corporate Insolvency Resolution Process (CIRP) can only be filed once the disputes between flat buyers and the firm are fully settled. Flat buyers remain eligible to file an application under Section 12A. “Respondent Nos. 1 to 43 (flat buyers) have opposed the closure of the CIRP, which…

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One Lakh Ghaziabad Property Owners Still Haven’t Paid Tax

GHAZIABAD: The Ghaziabad Municipal Corporation reported a collection of ₹305 crore in property tax for the fiscal year 2025-26, falling short by ₹35 crore compared to the previous year. This discrepancy has left over 100,000 residents unclear about their tax liabilities due to a dispute regarding a rate increase. A revised tax structure was implemented on April 1 of the previous year, intending to synchronize property tax rates with the district magistrate’s circle rate. As a result, the maximum property tax increased to ₹4 per square foot, up from ₹2.4, while the minimum slightly decreased from ₹1.6 to ₹1.3 per…

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HC Upholds Haryana’s ‘Stilt-Plus-Four’ Policy in Homes

CHANDIGARH: In a significant development for the real estate sector in Haryana, the Punjab and Haryana High Court issued an interim order on Thursday, halting the state government’s “stilt-plus-4 policy.” This policy permitted the construction of four-storey homes in various residential sectors and colonies. This interim measure will remain until the court reaches a final ruling on several petitions that oppose the policy. “Due to prolonged arguments attributed to the counsels of both parties, the court finds it appropriate to refrain from commenting on the validity of the notification dated July 2, 2024, issued by the additional chief secretary of…