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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Telangana HC Censures Badangpet Civic Body for Illegal Builds

Telangana HC HYDERABAD: The Telangana High Court has instructed the Badangpet Municipal Corporation, situated on the outskirts of Hyderabad, to take decisive and immediate measures against illegal constructions on encroached lands under its jurisdiction. The order, issued on September 24 by Justice B. Vijaysen Reddy, came in response to a petition from the American Township Plot Owners Welfare Association, a residents’ welfare association from Balapur, Badangpet. The association alleged that a real estate firm and an individual were encroaching on land designated for a public road and had commenced construction. Despite several complaints, the RWA claimed the municipal corporation had…

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ED Seizes Ozone Urbana Assets Valued at ₹423 Crore in Karnataka

NEW DELHI: The Enforcement Directorate (ED) has attached unsold flats and land valued at over Rs 423 crore belonging to the promoters of a Karnataka-based real estate firm due to allegations of duping homebuyers. This action was taken on Saturday. The measures target Bengaluru-based Ozone Urbana Infra Developers and its primary promoter, S Vadudevan. A provisional order under the Prevention of Money Laundering Act (PMLA) has been issued to attach 92 flats in the Avenue project and 13 flats in the Aqua 2 project, as well as 4.5 acres of commercial land and personal properties belonging to Vasudevan, as stated…

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Nagpur Civic Body Auctions Properties to Recover Tax Dues

NAGPUR: In a significant move against property tax defaulters, the Nagpur Municipal Corporation (NMC) initiated property auctions and asset seizures in the Lakadganj and Laxmi Nagar zones to recover unpaid dues. In Lakadganj Zone (Ward 08), a public auction on Friday featured 19 properties in Mauja Pardi and Mauja Nagpur. During the event, five property owners settled their dues with a total of Rs10.45 lakh, while another five properties valued at Rs1.66 crore were successfully auctioned. Nine properties are still pending, and owners have until October 10, 2025, to make payments; otherwise, the NMC will auction them under the Maharashtra…

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Trichy Civic Body Increases Water, UGD Fees by Property Size

TRICHY: The Trichy corporation has updated its drinking water charges and underground drainage (UGD) user fees for households, now introducing costs based on the built-up area of residential properties. Monthly fees have risen by Rs20 to Rs40 per connection, causing concerns among residents who worry this might lead to increased monthly rents. Previously, the standard rate for drinking water was Rs180 per month per connection. With new byelaws approved by the Trichy corporation council, starting April 1, households can expect to pay between Rs180 and Rs360 monthly per connection (for up to 16 KL of water), depending on property size.…

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Income Tax Dept. Imposes ₹23 Crore Fine on Adani’s ACC

NEW DELHI: The Income Tax (I-T) department has issued two penalties to ACC Ltd, totaling Rs 23.07 crore, which the Adani Group company plans to challenge in appellate authorities. The I-T department has imposed a fine of Rs 14.22 crore for allegedly providing inaccurate income details for the Assessment Year 2015-16. Additionally, a penalty of Rs 8.85 crore has been levied for under-reporting income for the Assessment Year 2018-19. “The company will contest both orders by appealing to the Commissioner of Income Tax (Appeals) within the designated timelines and will concurrently seek a stay on the penalties,” ACC stated in…

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Thane Bribery Case: Third Accused Surrenders to ACB

THANE: An individual involved in the Thane Municipal Corporation bribery case surrendered to the Maharashtra Anti Corruption Bureau on Friday. Following this, a local court has placed him in police custody until October 6, according to an official. The accused has been identified as Sushant Surve. During a raid at the civic headquarters on October 1, Deputy Municipal Commissioner Shankar Patole and a private individual named Omkar Gaikar were arrested by the Anti-Corruption Bureau (ACB). A real estate developer, Abhijit Kadam, who has development rights for a plot in Vishnu Nagar, Naupada, reported to the Mumbai ACB that Patole allegedly…

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Mumbai: Developer Must Refund Homebuyers for Canceled Flats

MUMBAI: A recent case underscores the challenges homebuyers face with stalled real estate projects. The Maharashtra State Consumer Disputes Redressal Commission (SCDRC) in Mumbai has ordered a developer and its directors to refund over ₹45 lakh plus ₹15 lakh in interest to a couple who had their flat allocation canceled in a Wadala housing project they opted for back in 2014. Sharmistha Ray and Manabendra Nath Ray, residents of Wadala, had initially sought 18% annual interest on their payment but agreed to 9% before the commission, which was the initial rate offered by the developer. The commission found Vijaykamal Properties…

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Mohali Civic Body Eyes New Taxes to Alleviate Financial Crisis

MOHALI: The financially struggling Mohali Municipal Corporation (MC) is considering new taxes and adjustments to existing ones in order to sustain civic projects. Currently, the MC has just Rs 15 crore available, while it has projects worth Rs 40 crore poised for allotment. MC commissioner Parminderpal Singh Sandhu disclosed this challenging situation during a recent meeting, conceding that the organization cannot fulfill the city’s development requirements. He criticized Gmada for not providing financial assistance, which has left the MC reliant on limited resources. Sandhu stated, “We need to implement new taxes to enhance our revenue. The Mohali MC is facing…

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Thane Deputy Commissioner and Aide Arrested for Bribery

THANE: Shankar Patole, the deputy commissioner of the Thane Municipal Corporation (TMC), along with local resident Omkar Gaikar, were arrested by the Mumbai Anti-Corruption Bureau (ACB) late Wednesday for allegedly accepting a bribe from a developer. The Thane court has remanded them to police custody until October 4. Patole, who heads the TMC’s anti-encroachment unit, was reportedly caught in his office just hours after the civic body celebrated its 43rd foundation day. The ACB took action based on a complaint from a Mumbai-based real estate developer, accusing Patole of demanding a bribe to facilitate the clearance of illegal encroachments on…

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Tax Dept Investigates ₹28,000 Crore Property Deals in Manesar

GURUGRAM: An I-T department survey has revealed considerable shortcomings in the documentation of property transaction records at Manesar tehsil, raising alarms over possible large-scale tax evasion. Over the last five years, property transactions worth approximately Rs 28,000 crore have been registered at this tehsil. However, it was found that the Permanent Account Number (PAN) of buyers and sellers, which is mandatory for transactions exceeding Rs 30 lakh, was absent from the records. The survey, conducted by a team of ten members over 24 hours, highlighted that the registration software at the tehsil failed to capture vital PAN details, despite regulations…