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.

Latest StoriesRegulatory

I-T Department Seizes 282 Acres in ₹2,000 Crore Land Case

HYDERABAD: The Income Tax Department’s Benami Prohibition Unit (BPU) in Hyderabad has issued 17 provisional attachment orders related to a 282-acre land parcel in Koheda and Omer Khan Daira villages, near Abdullapurmet, valuing the properties at ₹2,002 crore. These land transactions were preliminarily identified as benami, with Incor Realty Projects acting as the benamidar and former Sanghi Industries Ltd promoter, Ravi Sanghi, along with his family, named as the beneficial owners. According to the orders, the land originally belonged to the now-defunct Sanghi Industries Ltd (SIL) and was sold through a structured arrangement involving Incor Realty and Venkateshwara Realty. The…

Latest StoriesRegulatory

Delhi Police nab five in ₹12 crore luxury fraud in Gurugram

NEW DELHI: The Delhi Police have arrested five individuals for allegedly defrauding a man of Rs 12 crore by selling a nonexistent luxury property at DLF Camellias in Gurugram, officials reported on Sunday. The police indicated that the arrests have unveiled an organized fraud scheme that utilized forged bank auction documents to deceive victims. In a statement, they confirmed that the Crime Branch dismantled the scheme after filing an FIR under multiple charges, including cheating, forgery, and criminal conspiracy, in accordance with the Bharatiya Nyaya Sanhita. “The syndicate is believed to have defrauded victims of over Rs 200 crore across…

Latest StoriesRegulatory

Gujarat HC: Society NOCs Required Despite Civic Body Approval

AHMEDABAD: The Gujarat High Court has put a stop to the construction of a ten-storey building in Vadodara, ruling that it was built without the necessary No Objection Certificate (NOC) from the cooperative housing society and violated its bylaws, despite the approval granted by civic authorities. The controversy involves the 60-year-old Alka Co-operative Housing Society Ltd, where owners of four plots began construction in 2024 after receiving a development permit from the Vadodara Municipal Corporation (VMC). The society raised objections, asserting that the construction encroached on its road and breached bylaws that designated plots for residential use only. The society…

Latest StoriesRegulatory

Punjab CIC reprimands Amritsar body for missing complex records

CHANDIGARH: The Punjab Chief Information Commissioner has raised issues with the Municipal Corporation of Amritsar regarding their failure to locate records for a significant commercial complex. Concerns were expressed about record management, adherence to building regulations, and accountability as per the Right to Information Act, 2005. The Chief Information Commission, led by Chief Information Commissioner Inderpal Singh, reviewed an appeal from an Amritsar resident who requested information about a multi-storeyed commercial complex. The inquiries included ownership details, approved building plans, parking provisions, any deviations from the approved plans, and related actions taken. During the hearing, the public information officer mentioned…

Latest StoriesRegulatory

IT Department Investigates Agra Sub-Registrar Office for Irregularities

AGRA: A five-member team from the income tax department conducted a review of property registration records at the sub-registrar office-II in Sadar tehsil, Agra, on Tuesday morning, according to officials. Sources indicated that the sub-registrar’s office had not been disclosing property registration deeds (sale deeds). Following a thorough examination, actions will be initiated against taxpayers who may have concealed information regarding property transactions. “Transactions exceeding Rs 10 lakh without PAN, and those above Rs 30 lakh, must be reported. Instances of negligence, including underreporting and flawed statements of financial transaction (SFT), have been identified. Land deeds valued at Rs 1,000…

Latest StoriesRegulatory

Pune: PMC to Earn ₹200 Crore Yearly from Building Permits

PUNE: The Pune Municipal Corporation (PMC) anticipates generating around Rs 200 crore annually through building permissions in newly merged areas, following the transfer of authority from the Pune Metropolitan Region Development Authority (PMRDA) to the civic administration. PMC officials mentioned that this revenue boost would alleviate the pressure on civic finances and support infrastructure development in these areas, expediting the implementation of the development plan (DP) approved by the state government in October 2017 for the newly incorporated zones. “The population of the nine villages is estimated to be around 6 lakh, with projections of reaching 8 lakh by 2035.…

Latest StoriesRegulatory

Chandigarh HC Raps HSVP for Current Plot Rates, Grants Oustees Relief

CHANDIGARH: The Punjab and Haryana High Court has granted a significant relief to land oustees. It has overturned the Haryana Shehri Vikas Pradhikaran’s (HSVP) decision to charge current market rates for residential plots, stating that charges should reflect the rates valid at the time applications were submitted. The court emphasized that beneficiaries should not face penalties for delays caused by authorities. The court concluded that when delays in allotment were entirely due to the authorities, oustees had the right to plots at the rates applicable during the application period, rather than the increased current rates. The division bench, led by…

Latest StoriesRegulatory

SC Ruling on Supertech Supernova Offers Hope to Buyers

NEW DELHI: The Supreme Court’s recent order to appoint a new developer for the Supertech Supernova project in Noida, which is currently undergoing insolvency proceedings, has sparked renewed hope for countless homebuyers awaiting progress on stalled housing projects. As the construction of several projects has come to a halt during the insolvency process, the Supreme Court has stepped in to protect homebuyers’ interests by appointing a three-member committee to select another builder for the Supernova project, putting all entities under the Insolvency and Bankruptcy Code aside. The committee is tasked with appointing a new developer by evaluating proposals based on…

Latest StoriesRegulatory

FIR Filed Against Ocean Seven Buildtech Directors Over Fund Misuse

Sure! Here’s a rewritten version of the content: GURUGRAM: An FIR has been filed against the directors and officers of Ocean Seven Buildtech Pvt Ltd after homebuyers of a delayed project in the area accused the builder of deception, breach of trust, forgery, and conspiracy. Buyers further allege intimidation by the builder. The FIR—lodged at Bajghera police station under sections 420, 406, 409, and 120-B of the IPC—names Swaraj Singh Yadav, Sunita Swaraj Yadav, and Arun Yadav as the accused in connection with the Expressway Towers affordable housing project in Sector 109. The case was initiated following a complaint by…

Latest StoriesRegulatory

Consumer Panel Orders Green Space Infraheights to Pay 12% Late Fee

LUDHIANA: The district consumer disputes redressal commission has imposed a penalty on an infrastructure builder for failing to deliver the possession of a flat to the buyer. The commission has mandated Green Space Infraheights Private Limited, based in Panchkula, Haryana, to refund ₹12.42 lakh—the amount paid by the complainants—along with interest at 12% per annum from the dates of deposit until actual payment, within 30 days of receiving the order. Additionally, the company is required to pay ₹20,000 as composite costs to the complainants, Monica and her son Ishaan Shingari, who reside in Ludhiana’s Kichlu Nagar. According to the complaint,…