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 Land Worth ₹585 Crore in Haryana, UP

NEW DELHI: The Enforcement Directorate (ED) announced on Saturday the attachment of hundreds of acres of land in Haryana and Uttar Pradesh valued at over Rs 580 crore as part of a money laundering investigation against ADEL Landmarks Ltd., previously known as Era Landmarks Ltd. The firm has been accused of defrauding many homebuyers. The investigation targets the company’s promoters, Hem Singh Bharana and Sumit Bharana, according to the ED’s statement. An order issued on Friday under the Prevention of Money Laundering Act (PMLA) provisionally attached 340 acres of land in Gurugram, Faridabad, Palwal, Bahadurgarh in Haryana, and Meerut and…

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Ghaziabad Body Raises ₹194 Crore from Property Sales

GHAZIABAD: In its first auction of the year, the GDA generated Rs 194 crore from property sales. In Madhuban Bapudham (MBD), Pocket A, three land parcels of 2,382 sqm each were sold at Rs 66,500/sqm, Rs 67,100/sqm, and Rs 67,300/sqm, surpassing the base price of Rs 52,500/sqm. This collectively brought in Rs 47 crore for the GDA. Additionally, another land parcel of 8,875 sqm in MBD, reserved at Rs 52,500/sqm, was auctioned for Rs 53,200/sqm, contributing another Rs 47 crore. An 8,355 sqm land parcel sold for Rs 53,000/sqm against the same base price, adding Rs 44 crore to the…

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ED Chargesheets Ocean Seven Buildtech’s Promoter in PMAY Fraud

NEW DELHI: The Enforcement Directorate (ED) has filed a chargesheet against a promoter of a Gurugram-based real estate firm and several others as part of a money laundering probe related to an alleged fraud involving homebuyers under the Pradhan Mantri Awas Yojana (PMAY). This prosecution complaint was submitted to a special Prevention of Money Laundering Act (PMLA) court at Patiala House. The chargesheet involves several sections of the anti-money laundering law, identifying Swaraj Singh Yadav, the promoter of Ocean Seven Buildtech Pvt Ltd (OSBPL), along with associated entities as accused, according to the agency’s statement. This week, the ED attached…

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Prayagraj to Notify 40,000 House Tax Defaulters

Representative AI image PRAYAGRAJ: The Prayagraj Municipal Corporation (PMC) has identified 40,000 properties in the city whose owners have not paid property tax for the last three years. Notices will be issued to these owners, and action will be taken against those who do not comply. Such actions may include property attachment and water supply disconnection. This initiative is intended to enhance tax recovery and ensure compliance throughout the city. After receiving the notice, property owners will have 15 days to settle their outstanding payments. If the tax remains unpaid within this time frame, the PMC will pursue attachment proceedings.…

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HC Questions LDA & LMC’s Plans for Sahara Land

LUCKNOW: On Thursday, the Lucknow bench of the Allahabad High Court inquired about the actions proposed by the Lucknow Development Authority (LDA) and the municipal corporation regarding the land reclaimed from Sahara India Commercial Corporation Limited in Gomtinagar. The court emphasized that this inquiry was made without any prejudice to Sahara, as their petition contesting the land reclamation is currently under review. The next hearing is scheduled for January 19. The bench, comprising Justices Rajan Roy and AK Chaudhary, issued the order in response to a Public Interest Litigation (PIL) filed in 2008 by Gomtinagar Jan Kalyan Mahasamiti. During the…

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NGT grants Greater Noida a month to report on illegal constructions

NOIDA: After being requested by the National Green Tribunal (NGT) five months ago to provide an action taken report on illegal constructions in Greater Noida, the Greater Noida Development Authority has not complied. The tribunal has now set a one-month deadline for the Authority to file an affidavit, with the next hearing scheduled for April 8. A former municipal corporator, Rajendra Tyagi, filed a petition in 2021 concerning illegal constructions in Noida and Greater Noida, highlighting that unauthorized residential colonies and commercial establishments were extracting groundwater illegally and discharging sewage openly. Tyagi’s attorney, advocate Akash Vashishta, noted that a July…

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NDMC unveils surplus budget for 2026-27; no property tax increase

NEW DELHI: The New Delhi Municipal Council (NDMC) announced a surplus budget for the 2026-27 fiscal year on Wednesday, projecting a net surplus of Rs 143.05 crore. During the budget announcement, the council outlined its intent to install 2,000 CCTVs throughout Lutyens Delhi, while confirming that property tax rates will remain unchanged. Presenting the budget at a special council meeting, NDMC Chairman Keshav Chandra stated that for 2026-27, the council anticipates total receipts of Rs 5,953.07 crore and total expenditure of Rs 5,810.02 crore, continuing its tradition of surplus budgeting. Chandra also highlighted plans for adding over 2,000 CCTV cameras…

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Gujarat’s Stamp Duty and Registration Fees Up 7% in 9M FY25

GANDHINAGAR | AHMEDABAD: The revenue generated by the Gujarat government from stamp duty and registration fees saw a notable 7% rise during the April-December 2025 period, increasing from ₹12,821 crore in 2024 to ₹13,699 crore in the initial nine months of the current financial year. Official sources indicate that income from these sources, driven by property registrations, is anticipated to exceed the budgetary target of ₹19,800 crore for the financial year 2025-26. “The increase in revenue is attributed to a rise in property transaction values. We expect total revenue for the financial year to surpass the budget estimate,” sources mentioned.…

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Ahmedabad collects ₹24 crore from property tax rebate scheme

AHMEDABAD: A property tax rebate scheme initiated by the Ahmedabad Municipal Corporation (AMC) from January 1 to March 31 has garnered a positive response. Within the first week, 24,887 taxpayers have paid property taxes totaling over Rs 24 crore. Collections have been significant across all seven zones. This initiative offers a 100% interest waiver for both residential and commercial properties under the previous tax formula from January to March. For residential properties using the new tax formula, interest waivers are set at 85% in January, 80% in February, and 75% in March, reducing by 5% each month to encourage early…

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NCLAT Backs Lucknow Body in Ansal Insolvency Case

LUCKNOW: In a significant decision for the Lucknow Development Authority (LDA), the National Company Law Appellate Tribunal (NCLAT) has ruled that no actions regarding the insolvency proceedings of Ansal Properties and Infrastructure Ltd can proceed without hearing from the Authority. This case involves alleged breaches of the High-Tech Township policy by the Ansal Group, including the non-delivery of plots, flats, villas, and commercial units booked by thousands of homebuyers in Lucknow since 2009. The NCLAT had previously accepted the insolvency petition, declared the real estate firm as bankrupt, and appointed an interim resolution professional, raising concerns about the interests of…