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 Ansal Properties Valued at Over ₹10 Crore

CHANDIGARH: The Enforcement Directorate’s (ED) Gurugram Zonal Office announced on Wednesday the provisional attachment of six immovable properties associated with the Ansal family, valued at ₹10.55 crore, under the Prevention of Money Laundering Act (PMLA), 2002. These properties are reportedly owned by directors and beneficiary owners of M/s Ansal Properties and Infrastructure Ltd (APIL): Sushil Ansal, Pranav Ansal, and Kusum Ansal. The action follows the company’s failure to repay environmental compensation mandated by various environmental agencies due to violations of The Water (Prevention and Control of Pollution) Act, 1974, and The Air (Prevention and Control of Pollution) Act, 1981. The…

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Bombay HC: Mumbai’s prime land can’t be lost to slum scheme.

MUMBAI: The Bombay High Court, represented by Justices Girish Kulkarni and Aarti Sathe, stated on Wednesday that large public land cannot be unjustly claimed under the pretext of slum rehabilitation. Expressing concern over the state’s actions, the court issued an interim order emphasizing that a prime 33-acre public space in the Cuffe Parade/Colaba area—one and a half times the size of Oval Maidan—should remain accessible to the public rather than be handed over for private development, especially when the city is already facing a shortage of public parks and open spaces, a necessity under the Indian Constitution. The court asserted…

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ED Seizes Over ₹10 Crore in Assets of Ansal Promoters

NEW DELHI: The Enforcement Directorate (ED) has attached six immovable properties valued at ₹10.55 crore belonging to certain directors and shareholders of Gurugram-based Ansal Properties and Infrastructure Ltd (APIL) under the anti-money laundering law. This action is part of a case linked to alleged violations of environmental protection laws, as stated by the ED on Wednesday. The properties, which are provisionally frozen under the Prevention of Money Laundering Act (PMLA), include commercial units in Gurugram (Haryana), Greater Noida (Uttar Pradesh), and Ludhiana (Punjab). The assets belong to notable figures associated with APIL, such as Sushil Ansal, Pranav Ansal, and Kusum…

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YEIDA Targets Illegal Plot Sales Near Noida Airport

Representative image NOIDA: The Yamuna Expressway Industrial Development Authority (YEIDA) has launched a crackdown on illegal colonisers promoting fraudulent projects in proximity to the Noida International Airport. The authority received numerous complaints regarding unapproved “township projects” being aggressively marketed to buyers from Delhi-NCR, falsely promising homes near the upcoming airport. The authority now aims to take action against social media accounts promoting these illegal developments. YEIDA has pledged strict enforcement and collaboration with local administration to address these issues. A report from TOI on September 15 highlighted how sales agents provided car pickups for potential buyers, transporting them to well-maintained…

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Lucknow’s Sahara Group land in Gomtinagar sealed by civic body

Representative image LUCKNOW: The Lucknow Municipal Corporation (LMC) has initiated the sealing of 170 acres in Gomtinagar, which includes the well-known Subrato Kothi owned by the Sahara Group. Signage indicating the area is sealed has been placed on-site. This action comes after an extensive inquiry led by Municipal Commissioner Gaurav Kumar, uncovering numerous violations of licensing and lease agreements. The land was originally allocated to Sahara India Housing Limited in 1994 for residential and green belt development, intended for housing plots and a planned community. However, in 1997, the LMC issued a cancellation notice for the license deed due to…

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Sebi, stock exchanges drop fines on Unitech

The Securities and Exchange Board of India (Sebi), along with the NSE and BSE, has decided to waive fines and penalties previously imposed on Unitech due to non-compliance issues linked to its former management, according to the government-appointed board of the embattled real estate firm. The leading stock exchanges have also lifted trading restrictions on Unitech securities. Starting October 7, Unitech Ltd’s securities will be transitioned from the restricted Z category to the actively traded B category on the BSE, while the NSE will move the company from the restricted BZ series to the default EQ series. “Shareholders have long…

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DTCP Launches Sealing Drive in Gurugram’s Sushant Lok 2 & 3

GURUGRAM: This week, the district town planner (enforcement) will initiate a significant sealing drive in Sushant Lok-2 and Sushant Lok-3, targeting unauthorized commercial activities and illegal constructions. Over 60 properties have received restoration orders, as many owners did not comply within the 10-day deadline. The sealing will occur in phases. Notices had already been issued to 24 properties running businesses like salons, guesthouses, and coaching centers, along with 36 properties found to have structural violations in stilt and setback areas. The enforcement effort in Sushant Lok-2 and 3 forms part of the DTCP’s broader plan to tackle encroachment in licensed…

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Gujarat HC Penalizes Flat Owners for Redevelopment Delay

AHMEDABAD: The Gujarat High Court has levied a fine of ₹1 lakh on dissenting members of Surya Apartments-2 for attempting to obstruct its redevelopment via litigation, which led the court to label their actions as creating an “artificial emergency” for an expedited hearing. Surya Apartments-2, constructed in 1987 by the Gujarat Housing Board on Sola Road, Ahmedabad, has 132 flat owners, of which 110 consented to the redevelopment, meeting the necessary legal requirements. The GHB, a co-lease owner, also supported the project in 2022. However, 34 dissenting members contested this decision in civil court, which on September 2 declined to…

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Bombay HC Dismisses MIDC’s Petition on Nashik SEZ Land

The Bombay High Court has dismissed a petition from the Maharashtra Industrial Development Corporation (MIDC) aimed at evicting Indiabulls Industrial Infrastructure from a special economic zone (SEZ) project in Sinnar, Nashik. The ruling upheld prior interim relief granted by the Nashik district judge, which had suspended MIDC’s eviction order from February 29, 2024. Indiabulls Industrial Infrastructure (IIIL) is now part of Embassy Developments. The dispute traces back to 2007 when MIDC and Indiabulls signed an agreement to develop nearly 2,500 acres into an SEZ. MIDC held an 11% equity stake, while Indiabulls retained 89%. Lease agreements were executed from 2007…

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SC calls Bhubaneswar development body on certificate issuance

BHUBANESWAR: The Supreme Court has summoned the Bhubaneswar Development Authority (BDA) to explain the controversial occupancy certificate (OC) issued for Odisha’s first public-private partnership (PPP) real estate project. The project, initiated by the Odisha State Housing Board (OSHB), is currently facing legal and regulatory issues that raise serious questions about compliance and governance in the state’s real estate landscape. As per the case details, the project has been embroiled in a lengthy legal battle due to alleged fraudulent activities and regulatory failures. A timeline of events shows numerous missteps and disputes. In 2018, the builder started handing over possession without…