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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Andheri East Leads FY26 Property Tax in Mumbai; Lower Parel Follows

MUMBAI: The K-East ward, covering Andheri East, has become the top contributor to property tax in Mumbai for the 2025-26 fiscal year, with the BMC recording its highest-ever collection of ₹7,610.9 crore. According to civic data, the K-East ward topped the collections with ₹719.2 crore, followed by G-South (Lower Parel and nearby areas) at ₹670.6 crore, K-West (Andheri West) at ₹622.2 crore, H-East (Kalina and Bandra East) at ₹577.8 crore, and H-West (Bandra West) at ₹536.6 crore. The western suburbs alone contributed ₹3,721.3 crore, while the island city and eastern suburbs accounted for ₹2,102.6 crore and ₹1,457.4 crore, respectively. The…

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Delhi’s Property Tax Collection Exceeds ₹3,100 Crore in FY26

NEW DELHI: The Municipal Corporation of Delhi (MCD) has reported a 46% increase in property tax collection for the fiscal year 2025-26, attributing this rise to enhanced compliance, enforcement initiatives, and the property amnesty scheme. According to a statement from the civic body released on Wednesday, property tax collections rose by 46.12% to Rs 3,116.62 crore in FY26, compared to Rs 2,132.89 crore in the previous year. The number of taxpayers has grown by 19.36%, reaching 1,352,562 in 2025-26, up from 1,133,161 the prior year, the statement noted. The majority of the revenue came from the property tax amnesty scheme,…

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Parliament amends IBC to speed up resolution and cut backlog

NEW DELHI: On Wednesday, Parliament passed amendments to the Insolvency and Bankruptcy Code (IBC), aimed at expediting resolutions, decreasing case backlog, and enhancing the financial ecosystem. The Rajya Sabha approved the Insolvency and Bankruptcy Code (Amendment) Bill, 2026, through a voice vote, having received Lok Sabha approval on March 30. During a brief discussion in the Rajya Sabha, Finance Minister Nirmala Sitharaman remarked that the IBC has positively impacted the health of the Indian banking sector and facilitated asset recovery. Sitharaman, also the Minister of Corporate Affairs, stated that the government accepted all 11 recommendations proposed by a Lok Sabha…

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Gurugram collects ₹350 crore in property tax for FY26

GURUGRAM: The Municipal Corporation of Gurugram (MCG) collected over ₹350 crore in property tax and approximately ₹56 crore in water bills during the fiscal year 2025-26. Officials noted that MCG offices experienced increased visitor traffic from early Tuesday as residents rushed to settle overdue property taxes and water bills before the financial year concluded. To facilitate this, citizen assistance centers at municipal offices remained open, even on a holiday, and tax branch officials were available to assist throughout the day. Separate counters were also set up for senior citizens, making it easier for elderly residents to manage their payments. Mayor…

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CAG: Madhapur IT Firms Misappropriated ₹100 Crore in Property Tax

HYDERABAD: The Industrial Area Local Authority (IALA) in Madhapur has reportedly caused a loss of over ₹100 crore to the government by under-assessing property taxes, according to the Comptroller and Auditor General (CAG). The Greater Hyderabad Municipal Corporation (GHMC) mandates that IALA levy property tax according to specific classifications and monthly rental values (MRV). In Madhapur, the MRV for industrial properties was set at ₹4 per square foot for ground and first floors, and ₹3.50 per square foot for upper floors. Meanwhile, office buildings had an MRV of ₹6 per square foot for the ground and first floors, with ₹5.50…

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Telangana’s property tax collections reach ₹100 crore in a day

HYDERABAD: A rigorous enforcement initiative, combined with the current one-time settlement (OTS) scheme, has led to a remarkable increase in property tax collections across three municipal corporations in the core urban area of Telangana, with revenues exceeding Rs 100 crore in a single day. Prior to last week, daily collections ranged from Rs 3 crore to Rs 5 crore. However, in recent days, there has been a substantial surge, with collections reaching Rs 20 crore on Sunday, Rs 50 crore on Monday, and over Rs 100 crore on Tuesday, bringing total collections to around Rs 2,500 crore. Officials attribute this…

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Bombay HC: Nagpur Builder to Pay ₹41 Lakh for Demolition

NAGPUR: The Nagpur bench of the Bombay High Court has ordered builder N Kumar to pay ₹41.37 lakh within two weeks for the demolition of illegal structures at Poonam Chambers and Poonam Tower. A division bench, led by Justices Anil Pansare and Nivedita Mehta, issued this directive following detailed cost estimates presented by the civic authority. The estimated costs include ₹31.4 lakh for demolishing unauthorized constructions at Poonam Chambers in the cantonment and ₹9.97 lakh for Poonam Tower, located near Vidhan Bhavan. In response to petitions filed by Kumar and his firm contesting demolition notices issued by the Nagpur Municipal…

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Delhi extends property tax amnesty deadline to April 30

NEW DELHI: The Municipal Corporation of Delhi has extended the deadline for the Property Tax Amnesty Scheme 2025-26 to April 30, as announced by the Delhi Mayor on Tuesday. Mayor Raja Iqbal Singh stated that the extension was granted due to the positive response from the public, allowing more taxpayers to resolve their outstanding dues under the Sumpattikar Niptaan Yojana (SUNIYO) scheme. He encouraged property owners and occupiers to take advantage of this “golden opportunity” to settle their liabilities without incurring interest or penalties. The mayor confirmed that the scheme will not be extended beyond April 30. Under SUNIYO, taxpayers…

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Buyer Can Withdraw Deposit Pending Builder’s Appeal: Bombay HC

Here’s a rewritten version of the content you provided: MUMBAI: The High Court observed that a builder and a buyer cannot be treated equally as the buyer is typically in a vulnerable position. Consequently, it allowed a flat purchaser to withdraw a sum deposited with the builder, amidst an appeal regarding a project that has been delayed for over a decade. On Monday, the High Court ruled that the provisions of RERA do not prevent the appellate tribunal from exercising its discretion in exceptional cases to release amounts deposited by the builder during the appeal process. The Court clarified that…

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IBBI Suspends Insolvency Pro for 2 Years in Supertech Case

NEW DELHI: The Insolvency and Bankruptcy Board of India (IBBI) has suspended an insolvency professional’s registration for two years due to serious lapses in managing the insolvency proceedings of Supertech Ltd and Nobility Estates. In an order dated March 30, the IBBI’s disciplinary committee found that Hitesh Goel neglected his responsibilities as defined under the Insolvency and Bankruptcy Code (IBC) and relevant regulations while handling the corporate insolvency resolution process for both companies. Supertech Ltd was initiated into insolvency in March 2022, with Goel first acting as the interim resolution professional (IRP) and later confirmed as the resolution professional. The…