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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Nashik Builder Arrested for EWS Quota Violations in 49 Projects

NASHIK: The Sarkarwada police have arrested a developer in connection with a cheating case involving 197 landlords, builders, and developers. They are accused of circumventing the mandatory 20% reservation for the Economically Weaker Section (EWS) in residential projects that exceed 4,000 sq m. The developer, associated with a project in Nashik city, was summoned for questioning on Monday and subsequently taken into custody. The court has remanded him to police detention until March 20. Senior officials from the Sarkarwada police station indicated they received a list of 197 individuals from the Nashik Municipal Corporation (NMC) and the tehsil office, connected…

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CCS Files Case Against Builders for Pre-Launch Fraud

HYDERABAD: The Central Crime Station (CCS) has filed a case against the directors of Bharathi Builders, accused of swindling a local businessman and his brother out of ₹87 lakh with a fraudulent pre-launch investment scheme related to a gated community project in Bhanoor, Sangareddy district. K. Krishna Sumanth, 46, from Banjara Hills, reported that directors D. Nagaraju and M. Siva Rama Krishna convinced him and his brother, Krishna Kanth, to invest in their proposed project in August 2021. “They claimed to have secured 6.39 acres across various survey numbers in Bhanoor, assuring us that our investment would double within 36…

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ED Recovers ₹650 Crore for 2,300 SRS Realty Home Buyers

NEW DELHI: The Enforcement Directorate has returned immovable assets valued at ₹650 crore to over 2,300 home buyers as part of its ongoing investigation into money laundering involving the Faridabad-based SRS Group, according to officials. They noted that a specific provision in the Prevention of Money Laundering Act (PMLA) in Gurugram enabled the federal agency to undertake this action under anti-money laundering regulations. The ED’s Gurugram zonal office has effectively restored assets worth approximately ₹650 crore to 2,312 legitimate home buyers who were reportedly cheated in SRS projects, officials confirmed. It is alleged that the promoters and executives of SRS…

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Hubballi-Dharwad aims to collect ₹333 crore in FY27 taxes

HUBBALLI: The Hubballi-Dharwad Municipal Corporation (HDMC) unveiled a surplus budget of ₹7.7 crore for the financial year 2026-27 in Hubballi on Monday. The budget estimates a revenue of approximately ₹1,603.2 crore against an expenditure of ₹1,594.4 crore, positioning it higher than other corporations in the state, except those in Bengaluru. Meenakshi Vantamuri, chairperson of the taxation, finance, and appeal standing committee, presented the budget to applause from BJP members. However, opposition Congress members expressed skepticism regarding the data within the budget document. The budget aims to generate ₹897 crore from the corporation’s own resources and anticipates receiving ₹706 crore in…

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Lucknow to Impose 12% Interest on House Tax Defaulters

Here’s a rewritten version of the content: LUCKNOW: The Lucknow Municipal Corporation (LMC) has announced that a 12% interest fee will be imposed on house tax defaulters who do not pay by March 31. Additionally, strict measures will be enforced against those who postpone payment. The municipal body initiated an awareness campaign in Zone-3 of the city on Sunday, aiming to inform residents about the deadline to help them avoid penalties. A rally featuring e-rickshaws and sanitation vehicles was conducted across six wards: Lala Lala Lajpat Rai, Mahanagar, Vivekanandpuri, Daliganj, and Nirala Nagar. To assist taxpayers, LMC has declared that…

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1.6 Lakh Notices Sent to Telangana Property Tax Defaulters

Representative AI image HYDERABAD: Civic authorities in the Core Urban Region (CURE) are stepping up efforts to collect overdue property taxes as the fiscal year 2025–26 approaches its end, sending numerous notices to defaulters. In the past 15 days, the Greater Hyderabad Municipal Corporation (GHMC), the Cyberabad Municipal Corporation (CMC), and the Malkajgiri Municipal Corporation (MMC) have issued approximately 164,000 demand notices to property owners who have not settled their dues. Out of nearly 2.88 million property tax assessments in the city, around 40% remain unpaid for the current financial year. Additionally, the total outstanding amount is alarming. While the…

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Bombay HC Rejects Koli Societies’ Slum Redevelopment Challenge

MUMBAI: The Bombay High Court has dismissed a petition filed by two societies representing the Koli community from Danda Koliwada, a fishing village in Khar West. The petition challenged a court-appointed committee’s determination that slum redevelopment would not negatively impact their activities. Justices Makarand Karnik and Shriram Modak remarked that the societies’ challenge to the committee’s findings and requested reliefs involved intricate fact-finding and the need to evaluate evidence. They noted, “Hence the dispute raised by the petitioners can only be resolved before the competent civil court, and it is not possible for us to examine such disputes under writ…

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Allahabad HC: Ensure Lifts, Ramps for Disabled in Complexes

PRAYAGRAJ: The Allahabad High Court has instructed Uttar Pradesh authorities to ensure that residential complexes equip themselves with accessible parking and amenities such as lifts, pavements, and gyms for individuals with disabilities. “Accessibility is a fundamental right for persons with disabilities, enabling access to facilities that are standard in a building,” stated the high court. The court was addressing a writ petition brought by M/S Scc Builders Private Limited, a construction firm, in response to an order related to the Rights of Persons with Disabilities Act, 2016, concerning the parking space allocated to a resident at SCC Sapphire, a housing…

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ED Raids Mantri Developers’ Offices and Homes in Bengaluru

BENGALURU: The Enforcement Directorate (ED) conducted search operations on Monday at the residential and office premises of Mantri Developers Private Limited and its directors in Bengaluru, relating to a money laundering investigation, officials reported. The searches are being executed under Section 17 of the Prevention of Money Laundering Act (PMLA). The operation began around 8 AM, led by a team from the ED’s Delhi office, as part of an ongoing probe into alleged financial irregularities tied to the company. According to officials, multiple ED teams simultaneously searched various residential and office locations associated with the real estate firm and its…

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Patna civic body collects ₹1 crore in special tax drive

Representative AI image PATNA: The Patna Municipal Corporation (PMC) successfully collected around Rs 1 crore in property tax within just two days through a targeted recovery initiative. A six-member flying squad visited various wards to collect outstanding dues from property owners with arrears exceeding Rs 50,000. Municipal Commissioner Yaspal Meena convened a review meeting on Friday with revenue and executive officers to streamline further collection efforts. Officials warned that property owners who do not settle their dues by the deadline risk having their bank accounts frozen and their properties attached. The corporation has already issued notices to major defaulters, prohibiting…