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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BMC Urges MMRDA & MHADA to Resolve ₹2,287 Crore Tax Dues

MUMBAI: The BMC has reached out to two major state agencies—the Mumbai Metropolitan Region Development Authority (MMRDA) and the Maharashtra Housing and Area Development Authority (Mhada)—regarding pending property tax dues exceeding Rs 2,287 crore, urging immediate payment. In correspondence dated March 16, just prior to the financial year-end, the BMC emphasized that property tax is its main source of revenue, essential for urban services and infrastructure development across Mumbai. According to BMC records from January 31, MMRDA owes Rs 1,685.6 crore across 128 properties, which includes Rs 946.2 crore in unpaid taxes and Rs 739.4 crore in penalties. Mhada, on…

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Telangana High Court Halts Acquisition of Jubilee Hills Properties

HYDERABAD: The Telangana High Court has recently stayed the acquisition and dispossession proceedings concerning four properties, totaling 5,186.14 square yards, owned by private individuals on Road No. 45, Jubilee Hills. The Greater Hyderabad Municipal Corporation (GHMC) had issued notices to the property owners under Section 21 of the GHMC Act, initiating the acquisition process for a proposed 120-ft road extending from Road No. 45 T-Junction to Durgam Cheruvu. Justice NV Shravan Kumar, in an order dated March 17, stated: “A stay is in effect for all further proceedings regarding the issuance of notice under Section 21 of the Act, particularly…

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Pune: PMC Acts on 4,000 Bounced Cheque Cases for Property Tax

PUNE: The Property Tax Department of Pune Municipal Corporation (PMC) has issued a warning to property owners regarding strict legal consequences for dishonoured tax payment cheques, as the number of such cases has been rising. Civic officials reported that over 4,200 cheque bounce instances have been recorded this financial year. Following persistent follow-ups, about 3,600 owners have settled their payments. Now, the civic body plans to take legal action against the remaining 600 defaulters under the Negotiable Instruments Act, 1881, which governs cheque dishonour offences. Ravi Pawar, head of the PMC’s Property Tax Department, stated that despite numerous reminders, some…

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Goa Commission Tells Dimension Builders to Create Flat Owners’ Society

PANAJI: The North Goa District Consumer Dispute Redressal Commission has directed a builder to establish a society or association of flat owners within three months for managing the property. Should the builder fail to meet this deadline, flat owners may independently create the society. This ruling followed a complaint from A M Ashwinkumar, a Carambolim resident who purchased two single-bedroom flats on the first floor of Dimension Residency from Dimension Builders in 2010 for his elderly parents. Ashwinkumar reported that upon moving in during June 2012, he discovered issues with the bathroom tiles, which were not properly fitted or aligned.…

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Bombay HC Overturns DRT Stay on Bank-Auctioned Flat Sale

MUMBAI: The Bombay High Court recently overturned a Debt Recovery Tribunal (DRT) order that halted further post-sale actions regarding a bank’s auction of a flat in South Mumbai. The Court noted a “disturbing trend” where borrowers and “chronic defaulters” often act passively while banks pursue recovery. These defaulters typically invoke “collusive proceedings” under insolvency laws only when it’s time for auction purchasers to take physical possession of the property. In a ruling dated March 18, Justices Manish Pitale and Shreeram Shirsat expressed concern over the misuse of the Insolvency and Bankruptcy Code (IBC). They pointed out that borrowers often claim…

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350+ government offices owe Nagpur civic body ₹145 crore in tax

NAGPUR: While the civic authority is contemplating a 10% increase in property tax to enhance revenue, the Nagpur Municipal Corporation faces significant challenges in collecting dues from central and state government departments, which collectively owe over Rs145 crore in unpaid property tax. Out of the revised target of Rs325 crore for the current fiscal year, the municipality has thus far collected Rs215 crore, leaving approximately Rs110 crore outstanding. Despite enforcing strict penalties and initiating attachment actions against individual taxpayers, several government offices have continued to delay payments for years. This poor recovery has necessitated additional resources for the civic body…

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NCLT Approves Withdrawal of Insolvency for ATS Knightsbridge

NEW DELHI: The National Company Law Tribunal (NCLT) has sanctioned the withdrawal of insolvency proceedings against ATS Knightsbridge, a residential project in Noida, following an agreement with lenders under Section 12A of the Insolvency and Bankruptcy Code (IBC). The insolvency process, initiated by ASK Trusteeship Services under section 7 of the IBC in 2023, was formally dismissed by the NCLT’s New Delhi bench on March 13, 2026. Consequently, the Corporate Insolvency Resolution Process (CIRP), which began in April 2024, has been officially concluded. The project, developed by ATS Heights, is in the advanced stages of construction, with all five towers…

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Vedanta Challenges NCLT Approval of Adani’s Jaiprakash Bid

NEW DELHI: The Vedanta Group, a major business conglomerate, has approached the National Company Law Appellate Tribunal (NCLAT), disputing the approval given by the NCLT to the Adani Group’s bid for acquiring Jaiprakash Associates Ltd for ₹14,535 crore. Led by Anil Agarwal, Vedanta was also contending for the acquisition of Jaiprakash Associates Ltd (JAL) via an insolvency procedure. However, in November last year, lenders approved Adani Enterprises Ltd’s resolution plan. On March 17, the Allahabad bench of the National Company Law Tribunal (NCLT) officially sanctioned Adani Enterprises Ltd’s ₹14,535 crore bid for JAL during the insolvency proceedings. JAL announced in…

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Nashik: 439 Issued Notices for Plot Sub-Division Issues

Representative AI image NASHIK: The Nashik office of the assistant collector and sub-divisional officer (SDO) has issued revision notices to 439 individuals connected to 49 disputed land transactions, invoking Section 257 of the Maharashtra Land Revenue Code (MLRC), 1966. This action follows a revision application from the Nashik tehsildar, which has asked landholders to provide valid documentation for the alleged sub-division of their plots. These notices, dated March 18 and signed by naib tehsildar Jitendra Dhanrale, pertain to properties across various areas including Adgaon, Deolali, Wadner Dumala, Panchak, Mhasrul, Nandur Dasak, Gangapur, and Chincholi. According to additional tahsildar Amol Nikam,…

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Goa PCB issues notice to Vasco housing project for sewage discharge

Representative AI image PANAJI: The Goa State Pollution Control Board has issued a notice to Prabhu Violetta Phase I, a residential complex in Vasco, demanding an explanation within seven days as to why it should not face a penalty of ₹44,50,000 and ₹12,50,000 for discharging untreated sewage into the open environment. The complex has also been called to clarify why it has yet to secure valid operational consent under the Water (Prevention and Control of Pollution) Act of 1974. The Board has mandated an immediate halt to the sewage discharge, citing test results that reveal excessive levels for biochemical oxygen…