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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Ranchi Civic Body Achieves ₹108 Crore in Tax Collection

RANCHI: In a significant milestone, the Ranchi Municipal Corporation (RMC) has reported a collection of Rs 108 crore in taxes for the current financial year, with property tax generating Rs 100 crore, making it the largest source of revenue. Officials noted that this development marks a notable change, as property tax has not been the primary revenue source in earlier years. RMC’s Deputy Municipal Commissioner, Gautam Prasad Sahu, stated, “We have surpassed Rs 100 crore in property tax alone, while the total collection is around Rs 108 crore. We anticipate collecting over a crore on the final day.” Additional income…

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Belagavi Revises Property Tax Rates Effective April 1

BELAGAVI: The Belagavi City Corporation (BCC) has updated property tax rates effective April 1, aiming to generate an additional Rs 2-3 crore in annual revenue. The tax rate for residential properties will rise by 3%, while commercial and industrial properties, along with all types of real estate plots, will see an increase of 4%. Owners can benefit from a 5% discount if the total tax is paid by the end of April. According to BCC sources, there are currently over 1.5 lakh properties, including residential and commercial. Historically, these properties generated about Rs 75 to 80 crore annually in taxes,…

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CAG Queries Telangana’s Land Allotment to Amazon in Pharma City

HYDERABAD: The Comptroller and Auditor General (CAG), in a report presented to the assembly on Monday, raised concerns over the allocation of 48 acres to Amazon Data Services India Private Ltd within the limits of the Hyderabad Pharma City (HPC). The report noted that the land was initially intended for a dedicated pharmaceutical manufacturing cluster under the National Investment and Manufacturing Zone (NIMZ) guidelines. The audit scrutinized land allocations and project execution, highlighting significant irregularities. According to the NIMZ guidelines, land in such zones must be exclusively used for purposes specified in the master plan. The CAG stated that allocating…

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New Town Kolkata Issues Notices to 65+ Buildings

Representative AI image KOLKATA: In response to complaints about significant irregularities in the use of residential buildings for commercial activities without proper authorization, the New Town Kolkata Development Authority (NKDA) has issued stop-operation notices to 69 buildings following inspections in New Town last year. The authority is conducting a block-wise evaluation of nearly 1,000 buildings that were flagged for potentially violating the allowed 40% commercial use within residential structures. According to officials, around 1,200 buildings were identified as part of investigations into suspected violations that emerged from surveys conducted in late 2024. “Initial visits led to a reduction in the…

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NCLAT Limits Vatika’s Insolvency Order to Gurugram Project

NEW DELHI: The NCLAT has provided partial relief to NCR-based real estate firm Vatika by limiting the ongoing insolvency proceedings to a specific project, “Project Aspirations,” located in Gurgaon. The National Company Law Appellate Tribunal (NCLAT) modified the earlier order from the National Company Law Tribunal (NCLT), clarifying that “CIRP cannot encompass all other projects” of Vatika. On February 3, following a plea from IDBI Trusteeship Services, the NCLT initiated the Corporate Insolvency Resolution Process (CIRP) against Vatika and appointed an Interim Resolution Professional (IRP) while enforcing a moratorium. This decision was subsequently challenged by Surender Singh, a director of…

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ED Seizes ₹270 Crore in Assets from Ex-Lodha Director Rajendra

NEW DELHI: The Enforcement Directorate (ED) announced on Monday the attachment of land parcels and other immovable assets exceeding Rs 270 crore as part of its money laundering probe against Rajendra Lodha, former director of Lodha Developers, a realty firm based in Maharashtra. A provisional order was issued on March 26 under the Prevention of Money Laundering Act (PMLA), which values the properties at Rs 271.48 crore, according to the ED’s statement. The attached assets include lands situated in the Panvel and Shahapur talukas of Maharashtra. Lodha was arrested by the ED in February and is currently in judicial custody.…

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Mumbai Directors Arrested for ₹10 Crore NRI Fraud

MUMBAI: The Economic Offences Wing (EOW) has arrested two directors of a construction firm accused of defrauding an NRI of ₹10.5 crore. Vishal Shah and Sukhpreet Kalsi, partners at Ajanta Airawat Infrastructure LLP, have been remanded to judicial custody by a magistrate’s court. Rahul Gupta, the complainant, stated that he invested ₹1.5 crore in 2012 through his company into the accused’s firm, which acquired land in Bhandup for a similar amount. After retiring from the partnership in February 2016, Gupta claims he lent ₹6 crore to the company, which has yet to be repaid. A settlement agreement was made in…

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Lucknow extends civic office hours for tax deposits until March 31

LUCKNOW: The Lucknow Municipal Corporation has extended the operating hours of its zonal offices to facilitate the collection of commercial and house taxes before the financial year concludes. Officials announced that all zonal offices will be open from 10 AM to 6 PM on Sundays. On March 30 and 31, they will operate from 10 AM to 11 PM, with a special effort to recover pending house tax dues on these days. The civic body encourages taxpayers to settle their dues before March 31 to avoid incurring interest charges. Payments made after the deadline will attract a 12% interest fee…

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Bombay HC: Banks Can’t Claim Priority on PMLA-Attached Properties

NAGPUR: The Nagpur bench of the Bombay High Court has delivered a landmark ruling affecting financial institutions and the Enforcement Directorate (ED). The court determined that banks’ recovery laws cannot supersede the Prevention of Money Laundering Act (PMLA), highlighting the government’s priority action against ‘proceeds of crime’. A division bench consisting of Justices Mukulika Jawalkar and Nandesh Deshpande annulled an order from the appellate tribunal that permitted banks, including HDFC Bank and Punjab National Bank, to enforce secured interests over properties seized by the ED in a money laundering case involving alleged misconduct in coal block allocation. The court declared…

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Bombay HC Report on MHADA 79A: 13K Unsafe Mumbai Buildings at Risk

MUMBAI: In a crucial update that may shape the future of redevelopment across the city, a committee established by the Bombay High Court has delivered its findings on March 5, 2026, examining contentious notices issued under Section 79A of the MHADA Act. The court is poised to hear this matter and decide if the halted redevelopment of numerous unsafe buildings can continue, impacting over 13,000 ageing structures and countless residents living in hazardous conditions. This comes just ahead of the looming monsoon season. The heart of the issue lies with Section 79A, a legal provision enacted in 2020 to expedite…