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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ED Files Chargesheet Against Gurugram Realty Firm for PMAY Fraud

NEW DELHI: The Enforcement Directorate is anticipated to file a chargesheet soon against a Gurugram-based real estate firm and its promoters in a multi-crore money laundering inquiry linked to alleged discrepancies in the Pradhan Mantri Awas Yojna (PMAY) and fraud against homebuyers, official sources revealed on Sunday. Swaraj Singh Yadav, the Managing Director and “key person” of Ocean Seven Buildtech Pvt. Ltd. (OSBPL), was arrested by the federal agency on November 13 and is currently in judicial custody. The ED has accused Yadav of “fraudulently diverting” and laundering Rs 222 crore of homebuyers’ funds received under PMAY by canceling and…

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Himachal Assembly Sends Land Reforms Bill to Select Committee

DHARAMSHALA | SHIMLA: On Friday, the Himachal Pradesh Assembly referred the state’s Tenancy and Land Reforms (Amendment) Bill, 2025 to the Select Committee following discussions. The Bill was meant for discussion and passing on the final day of the Winter Session. BJP member Randhir Sharma proposed referring the Bill to a Select Committee. Chief Minister Sukhvinder Singh Sukhu supported the proposal, leading Speaker Kuldeep Singh Pathania to announce that the Bill would indeed be forwarded to the Select Committee, which will include members from both the ruling and opposition parties. This Select Committee will review the Bill and present its…

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Maharashtra Grants Legal Status to Digital Land Records

Representative AI image NAGPUR: On Thursday, the Maharashtra government officially recognized digitally signed 7/12, 8-A, and property card extracts, signifying a significant transformation in the state’s land administration. Revenue Minister Chandrashekhar Bawankule has instructed district collectors to treat these digital land records as legally binding for all governmental bodies, courts, banks, and registration offices, thereby eliminating a process that has long been hindered by bureaucracy, delays, and dependence on manual signatures. Effective immediately, citizens can download certified copies of their land documents online via the Mahabhumi portal for ₹15. These extracts are embedded with a digital signature, a scannable QR…

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SC: Surging Real Estate Disputes in Delhi, Mumbai Affect Builders

NEW DELHI: The Supreme Court expressed its concerns on Friday regarding the increasing number of homebuyer cases in Delhi-NCR and the re-development projects in Mumbai, noting its adverse impact on the reputation of real estate developers. A bench consisting of Justices J.B. Pardiwala and P.B. Varale was addressing a dispute related to the re-development of a Mumbai housing society. They remarked that the scale of real-estate disputes is alarming in both Delhi-NCR and Mumbai. “This real estate issue is quite serious in these areas. In Delhi-NCR, countless homebuyers are impacted by housing projects, while Mumbai faces challenges with re-development initiatives.…

Latest StoriesRegulatory

Mormugao Seals Two Banks Over Rent Defaults

VASCO: On Thursday, the Mormugao Municipal Council (MMC) sealed the branches of a public sector bank and a private bank due to unpaid rent. “The private bank branch in town and the public sector bank branch at Mangor Hill were sealed for failing to meet their rent obligations,” stated MMC chairperson Girish Borkar to TOI. The private bank owed Rs 6 lakh, while the PSU bank had an outstanding amount of Rs 3 lakh. This recovery effort was led by MMC chief officer Siddhivinayak Naik, in collaboration with municipal engineers and inspectors. “MMC is committed to taking strict measures against…

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NKDA Sends Notices to 37 New Town Buildings in Kolkata

Representative image KOLKATA: The New Town Kolkata Development Authority (NKDA) has issued stop operation notices to the owners of 37 residential buildings in New Town for illegally operating hotels and guest houses without the required permissions. According to the list of buildings receiving these notices, 19 are situated in various blocks of New Town Action Area I, while 18 are in Action Area II. Officials reported that these residential premises were functioning as guest houses, hotels, and banquet halls without the necessary approvals from relevant authorities. “These operations violate a notification from the state urban development department issued in 2015,…

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Nashik Collects ₹196 Crore in Property Tax This Fiscal Year

NASHIK: The civic body has reported an 8% increase in property tax collections for the first eight months of the financial year 2025-26, totaling Rs 196 crore from April 1 to December 4, compared to Rs 181 crore during the same timeframe last year (2024-25). According to officials from the Nashik Municipal Corporation (NMC), the Cidco division led the collections with Rs 42.8 crore, followed by Panchavati at Rs 39.3 crore, Nashik East at Rs 33 crore, and Nashik West at Rs 30.7 crore. The remainder of the collections originated from Nashik Road and Satpur divisions. NMC set a property…

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Haryana collects under 1% of ₹45 crore in environment fees

GURUGRAM: The Haryana government has levied over Rs 45 crore in environmental compensation (EC) on more than 400 industrial and commercial entities over the past three years. However, less than 1% of these penalties have been collected. Currently, Rs 44.87 crore remains unpaid, with only around Rs 42 lakh collected in response to penalties for various violations, encompassing illegal mining, dust emissions, unauthorized construction, and untreated wastewater discharge. The overdue EC stems from infractions reported from 2021 to 2024. Despite the limited recovery, many violators have either ceased operations, switched ownership, relocated, or contested the penalties, effectively hindering enforcement efforts.…

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Mumbai Realty Firm and Directors Charged with ₹31 Crore Fraud

MUMBAI: A case has been filed against a real estate company and its two directors for allegedly defrauding 19 individuals of ₹31 crore by promising exorbitant returns on an investment in a redevelopment project, as reported on Thursday by officials. The Economic Offences Wing (EOW) of the Mumbai police is currently investigating the matter. A 71-year-old resident of Andheri East recently approached the authorities, accusing M/s Ranbeer Real Estate Developers LLP and its two directors of deceiving him and 18 other investors. The complainant stated to the police that the accused had guaranteed an annual return of 18% on the…

Latest StoriesRegulatory

Court Orders Seizure of ₹128 Crore in Uttar Pradesh’s 1st FEOA Case

Representative Image LUCKNOW: On Thursday, a special court ordered the confiscation of assets valued at approximately Rs 128 crore in connection with the fugitive economic offender proceedings initiated by the Enforcement Directorate (ED) against the Shine City Group based in Uttar Pradesh, along with its fugitive promoter, Rashid Naseem, accused of deceiving investors. Officials noted that this decision was made under the Fugitive Economic Offenders Act (FEOA) of 2018, marking the first case of asset confiscation via this mechanism in Uttar Pradesh. The ED will confiscate movable and immovable assets worth Rs 127.98 crore, which had been previously attached under…