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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No capital gains tax if flat’s sale price matches cost: ITAT

MUMBAI: The Income Tax Appellate Tribunal (ITAT) has determined that capital gains tax cannot be applied when the sale price of a property matches its purchase price, despite initial disagreements from the I-T officer due to documentation issues. In a recent decision, the Mumbai bench of the tribunal supported the appeal from taxpayer Kamini V, reversing a Rs 42.5 lakh addition made by the tax department under ‘short-term capital gains’ for the fiscal year 2015-16. The case involved a jointly owned residential property bought for Rs 85 lakh and sold two years later for the same amount. The I-T officer…

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NCLAT Confirms Project-Specific Insolvency for Realty Firms

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has affirmed that insolvency proceedings initiated by homebuyers against construction firms must be restricted to the specific project where the default occurred, rather than extending to other projects of the corporate debtor. The tribunal underscored that jeopardizing unrelated projects does not serve the interests of homebuyers or stakeholders involved in those projects. “The law is clear that when financial creditors or homebuyers from a single project file a Section 7 application due to default by the corporate debtor, the Corporate Insolvency Resolution Process (CIRP) must be limited to that project,” the…

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Ghaziabad Reduces Property Tax Rates by Up to 40%

GHAZIABAD: On Saturday, the Ghaziabad Municipal Corporation (GMC) approved a 35-40% reduction in property tax rates, resolving a year-long impasse after the UP government introduced revised tax slabs. The GMC’s executive committee approved the resolution, which will lower the maximum tax from ₹4 to ₹3.40 per square foot, effective from April 15. This rollback follows months of protests from residents and political tensions, especially as the upcoming assembly elections loom. The state government’s formal directive provided the necessary intervention to resolve the deadlock between elected officials and the civic body regarding the earlier tax hike. Under the new structure, property…

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ED Seizes ₹6 Crore in Homebuyers’ Fraud Case Against Earth Infrastructures

NEW DELHI: The Enforcement Directorate (ED) has confiscated ₹6.3 crore in cash and jewellery valued at ₹7.5 crore during investigations into a Delhi-based real estate company accused of defrauding homebuyers, which is currently facing insolvency proceedings, as reported on Saturday. The operation, conducted under the Prevention of Money Laundering Act (PMLA), began on Friday, targeting 10 locations associated with former directors, promoters, and related entities of Earth Infrastructures Ltd. (EIL) in Delhi and Gurugram. The company has been undergoing a corporate insolvency resolution process (CIRP) since June 2018, according to official records. The ED’s investigation was prompted by five FIRs…

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Delhi HC permits demolition in Shalimar Bagh area

NEW DELHI: The Delhi High Court has permitted authorities to initiate a demolition drive in Shalimar Bagh for public road expansion, granting residents until May 30 to vacate the area. A bench comprising Justices Prathiba M Singh and Madhu Jain reviewed a petition from Saroj, a Shalimar Bagh local, representing around 98 residents living on government-acquired land in Haiderpur village. The Delhi government was represented by Additional Solicitor General Chetan Sharma, Legal Aid Counsel Dheeraj Kumar Singh, and Standing Counsel Sanjay Kumar Pathak. In an order dated April 6, the court remarked: “The advancement of infrastructural projects, especially those concerning…

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Mangaluru civic body collects ₹149.6 crore in property tax FY26

MANGALURU: Mangaluru City Corporation (MCC) has achieved its highest property tax collection to date, amounting to Rs 149.6 crore under the Self-Assessment Scheme (SAS) for the financial year 2025-26, according to commissioner Ravichandra Naik. In a statement to the press, Naik mentioned that the estimated demand for the fiscal year was Rs 112 crore, with previous collections of Rs 137 crore in 2024-25 and Rs 117 crore in 2023-24. The city, divided into 60 wards, encompasses a total of 2,22,256 properties, comprising 1,75,724 residential units, 44,074 commercial properties, 1,175 industrial properties, and 1,283 non-residential properties. Naik noted that the rise…

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SC Directs Municipal Bodies to Survey Commercial Misuse in Homes

JAIPUR: The Supreme Court has mandated that municipal bodies in all state and Union Territory capitals conduct a survey of residential areas used for commercial activities, submitting affidavits detailing violations by May 15, 2026. This places the Jaipur Municipal Corporation (JMC) under a tight deadline. The directive was issued during a hearing regarding unauthorized commercial use in a Chennai colony, with Justices Ahsanuddin Amanullah and R. Mahadevan expanding its nationwide application. “Authorities must conduct a thorough investigation to identify areas designated for residential use that are being misappropriated for commercial purposes. A comprehensive report outlining these cases must be presented…

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SC orders Nowhera to surrender in a week, ties bail to deeds

File Photo HYDERABAD: On Wednesday, the Supreme Court directed Nowhera Shaik, the chief of Heera Group, to surrender to the appropriate jail authorities within a week. The court warned that non-compliance would lead to the issuance of a non-bailable warrant. Furthermore, the possibility of future bail considerations will be contingent upon her cooperation in executing pending sale deeds. This directive stems from the court’s findings that Nowhera has failed to cooperate in executing 16 sale deeds for auction purchasers, despite the Enforcement Directorate (ED) having already received the full payment. The court described the situation as a large-scale fraud, involving…

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ED Investigates Financial Ties of Kolkata’s Merlin Group

KOLKATA | NEW DELHI: The Enforcement Directorate (ED) announced on Thursday that it is probing potential financial connections between a Kolkata real estate firm and several politicians and government officials in West Bengal as part of a money laundering investigation. Following raids at seven locations tied to the Merlin Group (Merlin Projects Limited) and its founders Sushil Mohta and Saket Mohta, investigators seized certain “incriminating” digital devices and documents. The company has stated it is fully cooperating with the investigation and maintains that all of its transactions are transparent. “Merlin Group is aware of the ongoing inquiry by the Enforcement…

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Bombay HC Upholds Altamount Road Redevelopment, Dismisses PIL

MUMBAI: The Bombay High Court confirmed the permissions for a 16-story redevelopment of a tenanted cessed structure from 1940 on Altamount Road, dismissing a public interest litigation (PIL) filed in 2013 challenging it. The PIL, submitted by the Altamount Road Area Citizens Committee, alleged that the permissions were granted illegally and arbitrarily, establishing a “wrong and dangerous precedent.” The state contended that the permissions were lawful, an assertion with which the High Court concurred, stating that the PIL appeared to target the builder rather than address genuine public concerns. Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad stated in their…