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 Seizes ₹12 Crore Assets of Sahiti Infratec in ₹842 Crore Scam

HYDERABAD: The Enforcement Directorate’s Hyderabad zonal office has seized movable and immovable assets valued at ₹12.6 crore belonging to Sahiti Infratec Ventures India Private Limited (SIVIPL), its ex-director Sandu Purnachandra Rao, his family, and related entities under the Prevention of Money Laundering Act. This action was prompted by various FIRs filed by the Telangana police against SIVIPL and its promoters, following complaints from investors who claim they were defrauded of ₹842 crore. The investors were promised residential properties that were never delivered. The ED uncovered that SIVIPL raised substantial amounts without the necessary approvals from the Real Estate Regulatory Authority…

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NCLAT Accepts Late Buyers’ Claims in Today Homes Insolvency

NOIDA: In a significant decision for homebuyers, the National Company Law Appellate Tribunal (NCLAT) has ruled that legitimate allottees, whose payments are recorded in a builder’s accounts, cannot be denied their entitlements solely due to late claim submissions during an ongoing insolvency process. The appellate tribunal, led by Justice Ashok Bhushan, issued the order on October 17, overturning a previous ruling from the National Company Law Tribunal (NCLT) principal bench, which had dismissed the claims of 20 homebuyers as “time-barred” concerning the insolvency proceedings of Today Homes Noida, the developer behind the Ridge Residency project in Sector 135. Justice Bhushan’s…

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Delhi HC Challenges DDA’s Retroactive GST on Property Conversion

NEW DELHI: A resident of Delhi has challenged the standard operating procedure (SOP) of the Delhi Development Authority (DDA) in the high court. This SOP retroactively imposes goods and service tax (GST) on the conversion of leasehold properties into freehold. This move from the DDA could affect property owners who converted their properties to freehold after the Central Goods and Services Tax (CGST) Act came into effect in 2017. The high court is set to hear the case on Friday. The petitioner, Mala Sahni Seth, has also included the Ministry of Finance, the Central Board of Indirect Taxes and Customs,…

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Chennai: ₹2,000 Cr Housing Scam in Pallikaranai Ramsar Site

CHENNAI: The anti-corruption NGO Arappor Iyakkam has accused various state government departments of unlawfully granting clearance for a ₹2,000-crore housing project allegedly located within the ecologically sensitive Pallikaranai Ramsar wetland area in Perumbakkam. In a complaint to the Chief Minister, Chief Secretary, and DVAC, the NGO highlighted that the State Environment Impact Assessment Authority (SEIAA) and CMDA provided environmental clearance and construction approval for specific survey numbers—453, 495/2c, 496, 497, and 498—which fall within the marshland boundaries. Arappor claims to have submitted a 213-page supporting document as evidence. According to the Ramsar site map and influence outlines provided by CMDA,…

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Telangana HC Warns Lawyers & Builders on Illegal Constructions

HYDERABAD: The Telangana High Court has raised concerns regarding the increasing trend of illegal construction and unauthorized collections, urging advocates to rethink their involvement in such cases, as this could undermine the state’s future. Justice B Vijaysen Reddy pointed out the potential long-lasting effects, warning that coming generations might hold the current officials responsible for these issues. He advised municipal authorities and lawyers representing builders involved in illegal activities to stay alert. The caution was issued during the hearing of a petition by farmer B Sanjeev Kumar, who claimed that government authorities had failed to act against illegal construction carried…

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Bombay HC Stops Flat Split, Backs Society’s Appeal

MUMBAI: The Bombay High Court has firmly opposed the conversion of a single housing unit into two apartments. On October 10, the court upheld a suburban society’s request to deny permission for structural modifications that would divide a flat into separate units. The interim order issued will remain effective until further directives are provided, ensuring the protection of the society’s rights until a final decision is made. The court noted that the society appears to have a compelling case for interim relief. Notices have been issued to the two residents of the flat, with the next hearing scheduled for November…

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Bombay HC: Courts Can’t Make Banks Change Loan Terms or OTS

Here’s a rewritten version of the content you provided: NAGPUR: The Nagpur bench of the Bombay High Court has ruled that banks cannot be compelled to alter loan agreement terms or extend benefits of a One-Time Settlement (OTS) scheme to borrowers or guarantors. A division bench comprising Justices Anil Kilor and Rajnish Vyas stated, “Issuing a writ of mandamus under Article 226 of the Constitution would not serve justice by directing the bank to consider OTS benefits for the borrower or guarantor. We cannot order the bank to amend the terms of the agreement.” The ruling was made last Friday…

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FIR Against Ocean Seven Buildtech for ₹217 Crore Housing Scam

GURUGRAM: The Economic Offences Wing (EOW) of Delhi Police has initiated an FIR against Ocean Seven Buildtech Pvt. Ltd. (OSB) and its Managing Director Swaraj Singh Yadav for allegedly deceiving homebuyers and misappropriating funds from the Expressway Towers project in the region. Launched in December 2016 under the Pradhan Mantri Awas Yojana (Urban), the project has yet to be completed, despite receiving over ₹217 crore, which amounts to over 95% of the buyer payments. The project, which includes 1,089 flats (1BHK and 2BHK) situated across 7.5 acres, had promised possession by 2022. The FIR, lodged on October 15, resulted from…

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Two Pune Officials Suspended for Ignoring Illegal Builds

PUNE: The Pune Municipal Corporation (PMC) has suspended two officials from the TDR department for allegedly allowing the construction of two unauthorized floors at a property in Baner. Municipal Commissioner Naval Kishore Ram took disciplinary action against junior engineer Shubhangi Tarukmare and deputy engineer Sandeep Misal under section 56(2)(F) of the Maharashtra Municipal Corporations Act, pending a departmental inquiry. As per the order, the construction of the sixth and seventh floors was proposed through the additional use of TDR, exceeding the approved plan. However, construction on the sixth floor has already been completed, and work on the seventh floor is…

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Karnataka HC Reverses Decision on Firm’s Building Plan

Sure! Here’s a rewritten version of the content: BENGALURU: A division bench of the Karnataka High Court, led by Chief Justice Vibhu Bakhru, has annulled a previous ruling mandating the Greater Bengaluru Authority to endorse a revised building plan from Sangam Enterprises, providing significant relief to the civic body. Sangam Enterprises aimed to utilize a Transferable Development Rights (TDR) certificate issued on April 18, 2015, to augment the height of their 5,630 sqm property, encompassing two adjacent plots on Dhanvantari Road and Subedar Chatram Road in the Majestic area of Bengaluru. The proposed changes sought to elevate the building height…