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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Vasai-Virar suspends assistant commissioner for inaction on illegal buildings

VIRAR: The Vasai-Virar City Municipal Corporation (VVCMC) suspended Ganesh Patil, an Assistant Municipal Commissioner (AMC), for failing to take action against illegal constructions in his area. The corporation emphasized that ongoing illegal structures will no longer be tolerated. Following the Virar building collapse last month that resulted in 17 deaths and nine injuries, VVCMC pledged to initiate a significant demolition campaign starting September 8. A special team consisting of ten squads, each with five VVCMC members, was created for this purpose. Patil received a show cause notice on September 9, yet he and his team allegedly took no action on…

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Hyderabad Builder Ordered to Refund Buyer for Undelivered Plot

HYDERABAD: The Ranga Reddy District Consumer Disputes Redressal Commission has mandated a real estate company to refund ₹42.04 lakh, along with interest, to a homebuyer after the firm failed to deliver a promised residential plot in a pre-launch project. The complainant, Gaurav Khandelwal, 43, from Gachibowli, reported that he paid ₹32.34 lakh in 2022 for a 308-square-yard plot in a proposed layout. Per the agreement, the company was required to obtain HMDA approval, develop the site within a year, and register the plot in his name. They also provided a buy-back option with a 30% return if the project didn’t…

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MDDA Targets Illegal Plotting on 150+ Bighas in Dehradun

DEHRADUN: The Mussoorie Dehradun Development Authority (MDDA) reported on Wednesday that over 150 bighas of illegally plotted land have been cleared in the past month. This initiative also involved sealing more than a dozen unauthorized multi-storey buildings, particularly in regions such as Bhaniyawala, Haridwar Bypass Road, and Doiwala. MDDA Vice Chairman Bansidhar Tiwari stated that the increase in unauthorized plots and encroachments led the body to initiate an extensive demolition and sealing campaign. “In the past month, we’ve demolished around 150 bighas of illegal plots and sealed numerous constructions, including multi-storey buildings, in places like Rishikesh,” he said. In the…

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Nashik issues notices to 300,000 property tax defaulters

NASHIK: The municipal authority has issued notices to over 300,000 property tax defaulters, providing a 15-day deadline to settle their tax obligations. These defaulters owe a total of ₹400 crore in property taxes, which have remained unpaid for periods ranging from one year to as long as six years. The Nashik Municipal Corporation (NMC) oversees approximately 600,000 property tax accounts across its six divisions. NMC officials indicated that the tax collection target for the current fiscal year is ₹275 crore, of which ₹125 crore has been collected so far, leaving about ₹150 crore to be collected in the next six…

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ED Seizes Luxury Cars in Goa ‘Illegal’ Land Grab Case

NEW DELHI: The Enforcement Directorate (ED) has confiscated seven luxury vehicles including brands such as Porsche, Mercedes, and Audi, following raids in a money laundering investigation tied to an alleged ₹1,200 crore land grabbing case in Goa. This case involves an individual named Yeshwant Sawant and several others. The operation began on Tuesday and concluded on Wednesday. According to the ED, 13 residential and commercial properties in Goa and Hyderabad were examined under the Prevention of Money Laundering Act (PMLA) due to the “illegal” seizure of Communidade lands in Goa, as stated in the agency’s announcement. The ED’s case is…

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Jharkhand HC Halts Sand Ghat Auction Over PESA Issues

RANCHI: The Jharkhand High Court has imposed a stay on the auction of sand ghats in the state due to the non-implementation of the Panchayat Extension of Scheduled Area (PESA) Rules. Additionally, the court has halted the issuance of mining leases for minor minerals. A division bench comprising Chief Justice Tarlok Singh Chauhan and Justice Rajesh Shankar heard a contempt petition filed by the Adiwasi Buddhijeevi Manch, addressing the government’s failure to comply with a prior high court directive mandating the implementation of PESA Rules before proceeding with the auction of sand ghats and issuing mining certificates for other minor…

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Sebi Lowers Minimum Investment Threshold for InvITs

NEW DELHI: Markets regulator Sebi has introduced new rules to lower the minimum allotment lot in the primary market for privately placed Infrastructure Investment Trusts (InvITs) to ₹25 lakh, bringing it in line with the secondary market trading lot size. Previously, the minimum allotment lot for privately placed InvITs was either ₹1 crore or ₹25 crore, depending on the asset composition. Earlier reforms had already reduced the trading lot size in the secondary market to ₹25 lakh, regardless of the asset mix. As a result, this amendment standardizes the minimum allotment size in the primary market for all privately placed…

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NCLAT Rules on Fraudulent Insolvency in Logix Infrastructure Case

NOIDA: The NCLAT has ruled that bankruptcy proceedings against Logix Infrastructure will not proceed, citing fraudulent misuse of insolvency law. The tribunal determined that the litigant, Experts Realty Professionals (ERP), and the Noida developer were “related parties,” and deemed the tribunal action as merely a facade to protect Logix from financial obligations. The NCLAT upheld the National Company Law Tribunal’s (NCLT) February 2025 order that annulled corporate insolvency actions against Logix Infrastructure, noted for the problematic Blossom County housing project located in Sector 137. In dismissing ERP’s petition against the NCLT ruling, Justice N Seshasayee (judicial member) and Arun Baroka…

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ED seizes ₹186 crore in bank fraud case involving DHFL

NEW DELHI: The Enforcement Directorate (ED) has provisionally attached assets worth approximately Rs 186 crore under the anti-money laundering law related to a bank loan fraud case against Dewan Housing Finance Corporation Ltd (DHFL) and its promoters. The attached assets, under the Prevention of Money Laundering Act (PMLA), include 154 flats and movable assets representing receivables tied to 20 flats in Mumbai, according to an agency statement. The total value of the seized properties stands at Rs 185.84 crore. The order, issued by the Mumbai zonal office of the ED, was dated September 5. The investigation stems from a CBI…

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Prayagraj to Crack Down on Property Tax Defaulters

PRAYAGRAJ: The Prayagraj Municipal Corporation (PMC) is preparing to take stringent measures against numerous property owners who have been benefitting from civic amenities without paying property tax for several years. Officials disclosed that many building owners, including over 200 commercial entities like hotels, restaurants, and educational institutions, have not remitted any property tax despite multiple reminders. According to officials, these defaulters collectively owe approximately Rs 40–50 crore in unpaid taxes. Despite issuing notices for over a decade, these operators have continuously ignored the requests. Prime localities including Civil Lines, Katra, George Town, Mumfordganj, Sulemsarai, Phaphamau, and Teliarganj feature prominently on…