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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Bombay HC Upholds Deemed Conveyance for Commercial Society

MUMBAI: On Wednesday, the Bombay High Court upheld a deemed conveyance awarded by a deputy registrar to a commercial cooperative society in Andheri East. The court ruled that a law established for public interest cannot be superseded by a contract between a builder and flat purchasers that allows the builder to retain development rights over the land. Krishna Developers challenged the deemed conveyance granted to Corporate Centre Premises Co-operative Society Ltd., which represents the unit owners of three buildings registered in 2007. The builder’s lawyer argued for executing the conveyance while reserving specific rights under the agreements with flat purchasers.…

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SC: RERA Fails to Act Against Defaulting Builders

NEW DELHI: The Supreme Court stated on Thursday that it is time for all states to reevaluate the formation of the Real Estate Regulatory Authority (RERA), which it claims is merely facilitating builders in default. A panel comprising Chief Justice Surya Kant and Justice Joymalya Bagchi expressed that the individuals RERA was intended to assist are “completely depressed, disgusted, and disappointed,” suggesting they would not oppose the institution’s dissolution. The remarks emerged as the bench allowed the Himachal Pradesh government to relocate the RERA office to its preferred location. The court issued a notice regarding a petition filed by the…

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Rajasthan HC: Eviction Decree Applies to All Joint Tenants

JAIPUR: On February 7 (with the order uploaded on February 9), the Rajasthan High Court ruled that an eviction decree granted against one joint tenant can be enforced against all individuals claiming under that tenancy, even if they were not specifically included as parties to the case. The court considered a tenancy established on February 15, 1949, with a monthly rent of Rs 5. Following the death of the original tenant, family members continued to occupy the premises but reportedly failed to pay rent or vacate the property. On January 16, 2016, the Rent Tribunal ordered eviction in favor of…

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Nashik issues notices to 450 property tax defaulters

NASHIK: The Nashik Municipal Corporation (NMC) has issued notices to 450 defaulters, each with property tax dues exceeding Rs 1 lakh, instructing them to pay within 15 days. This decision came after a directive from the municipal commissioner, Manisha Khatri, which aimed to identify major defaulters in each division and enhance recovery efforts. For the current financial year (2025-26), the civic body targets a property tax collection of Rs 270 crore. However, as of February 10, the collection stands at only Rs 215 crore, indicating a shortfall of Rs 55 crore with just over a month and a half left…

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Golden Glow Estates in Haryana: Licenses Lapse, Dues Surge

GURUGRAM: The Haryana Department of Town and Country Planning (DTCP) has taken action against a group housing project due to issues with its development licence. The enforcement action pertains to a project located in Badshahpur, Sector 68, after the development licence expired eight years ago and was not renewed. The project currently has outstanding external development charges (EDC) and related dues exceeding Rs 51.8 crore. The DTCP has issued a show-cause notice to Golden Glow Estates, the project’s official licence holder, instructing the district town planner (enforcement) to commence proceedings under Section 10 of the Haryana Development and Regulation of…

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Maharashtra cabinet approves land policy for ‘Third Mumbai’ development

Representative AI image MUMBAI: On Tuesday, the Maharashtra cabinet sanctioned a new land acquisition and allotment policy for the proposed “Third Mumbai” project, located within the impact area of the Mumbai Trans Harbour Link (MTHL), also referred to as Atal Setu. This policy aims to enhance planned urban development and spur investment in the Mumbai Metropolitan Region (MMR). The policy will govern development initiatives led by the New Town Development Authority in the Atal Bihari Vajpayee Shivdi-Nhava Sheva Atal Setu’s influence area and the Mumbai Metropolitan Region Development Authority (MMRDA). The decision is anticipated to provide a structured framework for…

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Accused in Shine City Fraud Case Arrested in Lucknow

LUCKNOW: On Monday, the Economic Offences Wing (EOW) arrested a key suspect in the multi-crore Shine City Infra Project Private Limited fraud case. The suspect, Nekpal Singh, also known as Nikki, was detained by the EOW team in the Krishna Nagar area of Lucknow. According to the EOW, Shine City Infra Project Private Limited allegedly defrauded investors across multiple districts in Uttar Pradesh by promoting low-cost residential plots and other attractive offers. The firm collected significant sums from the public without delivering the promised plots or refunding the investments. After the alleged scheme came to light, the company’s directors and…

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Mumbai civic body issues attachment notices for tax defaults

MUMBAI: The BMC has issued notices for property attachment to some of the largest property tax defaulters in Mumbai. These warnings indicate that assets may be seized and auctioned if outstanding payments are not made immediately. Notably, Raghuvanshi Mills Limited from G South ward is among the top defaulters, with arrears exceeding Rs 140 crore. Other significant defaulters include Rajhans Associates, Ashapadara Developers, Sumer Buildcorp Pvt. Ltd., DBS Realty, SD Corporation, and Galaxy Corporation, each with dues in the tens of crores, according to the civic agency. As stated by the BMC, notices have been served under Section 203 of…

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NCLT Approves Hotel Horizon Resolution, NCLAT Halts Equity Creation

Here’s a rewritten version of the provided content: The National Company Law Tribunal has sanctioned Hotel Horizon’s acquisition by a consortium consisting of Oberoi Realty, Shree Naman Developers, and JM Financial Properties and Holdings. The company has acknowledged liabilities amounting to ₹1,293 crore, while the successful bidder’s proposal entails a payment of ₹919 crore, leading to approximately 74% recovery for creditors of the financially strained firm. Prior to the tribunal’s sanction, the resolution plan had received unanimous approval from the company’s secured creditors. Hotel Horizon’s main asset is a coveted 1.85-acre land parcel located in Mumbai’s upscale Juhu area, with…

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NGT Alerts MCD Over ‘Unauthorized’ Yamuna Floodplain Construction

NEW DELHI: The National Green Tribunal (NGT) has requested responses from the Municipal Corporation of Delhi (MCD), Delhi Development Authority (DDA), and others regarding a petition that claims unauthorized construction on the floodplain of the Yamuna River. The tribunal was addressing a letter petition from a Wazirabad village resident, who alleges that a multi-storeyed building is being constructed in the Majnu ka Tila area on the floodplain. A bench led by NGT Chairperson Justice Prakash Shrivastava and expert member A Senthil Vel stated in an order dated February 5 that the petition raises “significant issues” concerning adherence to environmental regulations.…