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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IT Department Investigates Agra Sub-Registrar Office for Irregularities

AGRA: A five-member team from the income tax department conducted a review of property registration records at the sub-registrar office-II in Sadar tehsil, Agra, on Tuesday morning, according to officials. Sources indicated that the sub-registrar’s office had not been disclosing property registration deeds (sale deeds). Following a thorough examination, actions will be initiated against taxpayers who may have concealed information regarding property transactions. “Transactions exceeding Rs 10 lakh without PAN, and those above Rs 30 lakh, must be reported. Instances of negligence, including underreporting and flawed statements of financial transaction (SFT), have been identified. Land deeds valued at Rs 1,000…

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Pune: PMC to Earn ₹200 Crore Yearly from Building Permits

PUNE: The Pune Municipal Corporation (PMC) anticipates generating around Rs 200 crore annually through building permissions in newly merged areas, following the transfer of authority from the Pune Metropolitan Region Development Authority (PMRDA) to the civic administration. PMC officials mentioned that this revenue boost would alleviate the pressure on civic finances and support infrastructure development in these areas, expediting the implementation of the development plan (DP) approved by the state government in October 2017 for the newly incorporated zones. “The population of the nine villages is estimated to be around 6 lakh, with projections of reaching 8 lakh by 2035.…

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Chandigarh HC Raps HSVP for Current Plot Rates, Grants Oustees Relief

CHANDIGARH: The Punjab and Haryana High Court has granted a significant relief to land oustees. It has overturned the Haryana Shehri Vikas Pradhikaran’s (HSVP) decision to charge current market rates for residential plots, stating that charges should reflect the rates valid at the time applications were submitted. The court emphasized that beneficiaries should not face penalties for delays caused by authorities. The court concluded that when delays in allotment were entirely due to the authorities, oustees had the right to plots at the rates applicable during the application period, rather than the increased current rates. The division bench, led by…

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SC Ruling on Supertech Supernova Offers Hope to Buyers

NEW DELHI: The Supreme Court’s recent order to appoint a new developer for the Supertech Supernova project in Noida, which is currently undergoing insolvency proceedings, has sparked renewed hope for countless homebuyers awaiting progress on stalled housing projects. As the construction of several projects has come to a halt during the insolvency process, the Supreme Court has stepped in to protect homebuyers’ interests by appointing a three-member committee to select another builder for the Supernova project, putting all entities under the Insolvency and Bankruptcy Code aside. The committee is tasked with appointing a new developer by evaluating proposals based on…

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FIR Filed Against Ocean Seven Buildtech Directors Over Fund Misuse

Sure! Here’s a rewritten version of the content: GURUGRAM: An FIR has been filed against the directors and officers of Ocean Seven Buildtech Pvt Ltd after homebuyers of a delayed project in the area accused the builder of deception, breach of trust, forgery, and conspiracy. Buyers further allege intimidation by the builder. The FIR—lodged at Bajghera police station under sections 420, 406, 409, and 120-B of the IPC—names Swaraj Singh Yadav, Sunita Swaraj Yadav, and Arun Yadav as the accused in connection with the Expressway Towers affordable housing project in Sector 109. The case was initiated following a complaint by…

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Consumer Panel Orders Green Space Infraheights to Pay 12% Late Fee

LUDHIANA: The district consumer disputes redressal commission has imposed a penalty on an infrastructure builder for failing to deliver the possession of a flat to the buyer. The commission has mandated Green Space Infraheights Private Limited, based in Panchkula, Haryana, to refund ₹12.42 lakh—the amount paid by the complainants—along with interest at 12% per annum from the dates of deposit until actual payment, within 30 days of receiving the order. Additionally, the company is required to pay ₹20,000 as composite costs to the complainants, Monica and her son Ishaan Shingari, who reside in Ludhiana’s Kichlu Nagar. According to the complaint,…

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Bombay HC Forms Panel to Settle Khar Danda Koliwada Land Dispute

MUMBAI: The Bombay High Court has established a three-member committee to address a land dispute at Danda Koliwada, Khar West, where a slum rehabilitation scheme is in progress. Part of this land is utilized by the Koli community for drying fish and nets. Justices Girish Kulkarni and Aarti Sathe instructed the additional principal secretary of the urban development department, along with the suburban collector and the CEO of the Slum Rehabilitation Authority, “to resolve the issue after hearing both parties and considering a fresh demarcation of the land, taking into account the traditional rights of the petitioners.” The judges emphasized…

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South Mumbai Tycoon Alleges Scam in ‘Aafiyah Heights’; FIR Filed

MUMBAI: Byculla police have filed an FIR against two directors of Aafiyah Realtors for allegedly defrauding 60-year-old businessman Mausam Ali Armar of ₹5 crore in connection with a high-rise project in South Mumbai. The accused, Munaf Wadgama and his wife Sajida, reportedly cannot be located, according to police reports. The complaint was lodged by Armar, who is the director of Galaxy Multi Channel Network Pvt Ltd. According to the FIR, Armar met the Wadgamas in 2013 through mutual contacts. The couple allegedly claimed ownership of Aafiyah Realtors and offered nine flats for sale in a proposed 47-storey building named “Aafiyah…

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Govt Bodies Owe BMC Over ₹3,000 Crore in Property Taxes: RTI

MUMBAI: Government departments and public agencies owe the BMC over ₹3,000 crore in property tax, with the civic body managing to recover only ₹243 crore in the last five years, according to data disclosed by the BMC under the Right to Information (RTI) Act. The information was revealed in response to an RTI inquiry from civic activist and advocate Godfrey Pimenta, who sought to understand why “honest taxpayers should bear the burden” while government entities fail to fulfill their property tax obligations. The BMC’s reply dated December 12, 2025, indicates that as of October 31, 2025, the property tax arrears…

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Mysuru Local Bodies See Spike in Property Tax Collections

MYSURU: Urban local bodies in Mysuru district, including the Mysuru City Corporation (MCC), have seen a significant rise in property tax collection this financial year. This achievement is mainly due to the introduction of digital payment methods, as well as incentives like a 5% rebate for early payments and proactive door-to-door collection drives. Officials noted that these initiatives have motivated property owners to comply on time, likely leading to substantial collections by the end of this month. In a conversation with TOI, MCC’s deputy commissioner (Revenue), Somashekhar G S, mentioned that regular property tax review meetings every two weeks and…