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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SC to Review Appeals on Environmental Clearances Verdict

NEW DELHI: On Tuesday, the Supreme Court agreed to review over two dozen petitions challenging its May 16 ruling that invalidated the Centre’s decision to grant retrospective clearances to projects in violation of environmental regulations. The May 16 ruling, written by former Justice A S Oka, directed the Ministry of Environment, Forests and Climate Change (MoEFCC) and relevant authorities to cease issuing retrospective environmental clearances, emphasizing that every individual has the fundamental right to live in a pollution-free environment. Notably, 25 companies, including the public sector Steel Authority of India Ltd, have petitioned for a review, modification, or clarification of…

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Gurugram Court Denies Bail to Ocean Seven Ex-CEO in ₹5.7 Cr Fraud

GURUGRAM: A sessions court has denied anticipatory bail to the former CEO of Ocean Seven Buildtech Pvt Ltd (OSBPL) in a case involving allegations of cheating and forgery. This ruling arrives 12 years after a family was reportedly “induced” to invest ₹2.8 crore with promises of “high returns.” According to complainant Amit Rastogi, that amount with interest grew to ₹5.7 crore over time. The court, presided by sessions judge Vani Gopal Sharma, issued the order on Monday after extensive hearings where the complainant, the state prosecutor, and the buyers’ association objected to bail for former OSB CEO Sanjeev Kumar related…

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Builders’ Office E-Registration Gains Popularity in Maharashtra

PUNE: On Tuesday, state property registration officials announced that the online registration process for first-sale properties from builders has gained popularity since its launch two years ago, decreasing the load on sub-registrar offices. Nearly 700 developers have joined the platform. As of September 2023, over 11,000 property documents have been registered online from developer offices, with 3,974 registered in the current financial year, as per departmental data. DIG (IT) Abhay Mohite mentioned that online registrations are expected to increase further during the festive season. “User feedback has been positive. Developer organizations are actively promoting the facility, and we anticipate the…

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Orissa HC Rejects LIC’s Flat Cancellation in Bhubaneswar

Orissa High Court CUTTACK: The Orissa High Court has overturned the Life Insurance Corporation of India’s (LIC) decision to revoke flat allotments under its “Policy Holders’ Housing Scheme” at Jeevan Bima Nagar, Chandrasekharpur, Bhubaneswar. The court ordered LIC to finalize the allotment process within eight weeks, contingent on each allottee paying an additional 10% of the original flat cost. The judgment came after reviewing four separate petitions filed by Satyavan K Panda, Dr. Laxmikanta Mishra, Dr. Swapna Kabiraj, and Saktidhar Das from 2015 to 2018. In 2014, a lottery was conducted for 75 flats under Phase-II of LIC’s housing scheme,…

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Chhattisgarh: Builder Must Buy Back Plot at Double Price

RAIPUR: The Chhattisgarh State Consumer Disputes Redressal Commission has directed a builder to repurchase a plot from a consumer at twice its original price, citing unfair trade practices and service deficiencies. In 2015, Dayawati Chauhan acquired a 1,000 sq ft plot through a registered agreement with the builder, which included a buyback clause. This clause stipulated that if she sought to resell the plot after five to five-and-a-half years, the builder would repurchase it at double the purchase price. After the designated period, Chauhan requested the builder to honor the buyback clause, but her request was turned down. Initially, she…

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Homebuyers can’t be denied housing membership due to builder’s default: HC

MUMBAI: The Bombay High Court has ruled that the rights of flat purchasers cannot be limited by a developer’s failure to fulfill obligations under a development agreement. This directive was issued to a housing society in Vile Parle (E), which was ordered to grant membership to 17 flat purchasers. Justice Amit Borkar, in an order on Friday, emphasized that membership in a cooperative society should be determined solely according to the Maharashtra Cooperative Societies Act, MCS Rules, and the society’s bye-laws. He dismissed 17 petitions from Jeevan Sarita CHSL, stating, “The eligibility of a purchaser to become a member must…

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DTCP Suspends Project License, Directs FIR Against Company Directors

GURUGRAM: The district town planner (enforcement) has suspended the development license of Prime Time Infraproject for its 10.9-acre residential colony in Sector 1, Pataudi. This license, originally issued on October 22, 2013, was officially suspended on February 4 due to the developer’s alleged non-compliance with directives and failure to respond to show-cause notices. The DTCP decided on the suspension after the developers consistently missed project deadlines and breached bilateral agreements. Sub-registrar Pataudi has been instructed to halt all registrations of sale deeds, conveyance deeds, and lease agreements related to the project. Additionally, red entries have been made in the revenue…

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Gurugram to Launch Sealing Drive Against Tax Defaulters

GURUGRAM: The Municipal Corporation of Gurugram (MCG) has identified 65 property owners who owe more than Rs 1 crore each. Starting Tuesday, the MCG will initiate a sealing drive targeting these defaulters. Officials have indicated that the majority of the properties involved are commercial establishments and industrial units. This action is part of MCG’s continuous efforts to recover overdue property tax payments and enhance its revenue base. “We will commence the sealing drive on Tuesday, focusing on the 65 properties identified with outstanding property tax dues. Notices have been dispatched to the respective property owners,” stated an MCG official familiar…

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Allahabad HC Orders Site Inspection of Noida Housing Dispute

NOIDA: In a legal dispute involving a developer and YEIDA, the Allahabad High Court has appointed a commissioner to assess and confirm the status of a contentious group housing plot in Sector 26. Justice Prakash Padia issued the order on Thursday, instructing advocate Gaurav Gautam to inspect the site on Monday (Sept 15) with support from the district magistrate, police commissioner, and YEIDA officials. The commissioner is required to submit a report in a sealed envelope by Sept 18, when the case will be reviewed again. This decision follows conflicting assertions about SDS Housing having received physical possession of the…

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Madras HC Bans Resorts and Hotels in Elephant Corridor

CHENNAI: The Madras High Court has reinforced a total ban on commercial activities in the Segur Plateau Elephant Corridor, following the findings of the Segur Plateau Elephant Corridor Inquiry Committee established by the Supreme Court. This prohibition extends to all resorts and hotels. The landowners are permitted to maintain and cultivate their properties in an environmentally friendly way that does not disturb the elephants, without installing artificial barriers like electric fences. This was affirmed by a special bench comprising Justice N Sathish Kumar and Justice D Bharatha Chakravarthy. The bench reiterated that the committee’s findings, led by former judge Justice…