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 Denies Bail to Bhasin Infotech Promoter in Fraud Case

NEW DELHI: Six years after being granted bail in a case involving cheating homebuyers, the Supreme Court on Thursday revoked its previous order. The court directed Satinder Singh Bhasin, the promoter of Bhasin Infotech and Infrastructure Private Limited, to surrender and return to custody, noting that he had breached bail conditions and misappropriated Rs 75 crore from homebuyers while on bail. A bench comprising Justices Sanjay Karol and N K Singh granted Bhasin one week to surrender, stating that he must serve at least one year in jail. The court indicated that he could apply for regular bail again after…

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NCLAT: Insolvency Process for Raheja Shilas Project to Continue

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has rejected Raheja Developers’ request to terminate the insolvency resolution process concerning its Raheja Shilas project in Gurugram, citing unresolved issues with flat buyers. The tribunal stated that an application under Section 12A of the Insolvency and Bankruptcy Code (IBC) for withdrawal from the Corporate Insolvency Resolution Process (CIRP) can only be filed once the disputes between flat buyers and the firm are fully settled. Flat buyers remain eligible to file an application under Section 12A. “Respondent Nos. 1 to 43 (flat buyers) have opposed the closure of the CIRP, which…

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One Lakh Ghaziabad Property Owners Still Haven’t Paid Tax

GHAZIABAD: The Ghaziabad Municipal Corporation reported a collection of ₹305 crore in property tax for the fiscal year 2025-26, falling short by ₹35 crore compared to the previous year. This discrepancy has left over 100,000 residents unclear about their tax liabilities due to a dispute regarding a rate increase. A revised tax structure was implemented on April 1 of the previous year, intending to synchronize property tax rates with the district magistrate’s circle rate. As a result, the maximum property tax increased to ₹4 per square foot, up from ₹2.4, while the minimum slightly decreased from ₹1.6 to ₹1.3 per…

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HC Upholds Haryana’s ‘Stilt-Plus-Four’ Policy in Homes

CHANDIGARH: In a significant development for the real estate sector in Haryana, the Punjab and Haryana High Court issued an interim order on Thursday, halting the state government’s “stilt-plus-4 policy.” This policy permitted the construction of four-storey homes in various residential sectors and colonies. This interim measure will remain until the court reaches a final ruling on several petitions that oppose the policy. “Due to prolonged arguments attributed to the counsels of both parties, the court finds it appropriate to refrain from commenting on the validity of the notification dated July 2, 2024, issued by the additional chief secretary of…

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Visakhapatnam collects ₹620 crore in property tax for FY26

VISAKHAPATNAM: The Greater Visakhapatnam Municipal Corporation (GVMC) has successfully collected ₹620 crore in property and vacant land taxes for the fiscal year 2025-26, representing a significant increase of nearly 22% from the previous year’s collection of ₹510 crore. This growth can largely be attributed to the expansion of the tax base and concentrated efforts on assessing vacant land, resulting in an additional ₹110 crore compared to the previous year. Remarkably, April and December 2025 emerged as particularly strong months, adding an extra ₹65 crore compared to the same months in 2024. For instance, collections for April surged from ₹132.11 crore…

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Morbi Drops Slum Demolition After Residents’ Gujarat HC Appeal

AHMEDABAD: The Morbi Municipal Corporation has reversed its demolition order for the slum on Panchasar Road. This decision came after 115 residents approached the Gujarat High Court, alleging that the civic body was attempting to evict them without offering alternative housing. The slum-dwellers filed a petition, asserting that they have lived in the area for decades, with government acknowledgment of their presence dating back to the Machchhu floods in 1979. Since then, they have been requesting government action to regularize their settlement. During a road-widening initiative carried out by the municipality between 2020 and 2023, the slum residents cooperated by…

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Patna’s property tax collection surpasses ₹116 crore milestone

PATNA: The Patna Municipal Corporation (PMC) has set a new record in property tax collection, amassing ₹125 crore in the fiscal year 2025-26, surpassing its target of ₹116 crore. This achievement is attributed to enhanced enforcement measures and the effective implementation of a one-time settlement scheme. The tax collected this fiscal is ₹11 crore more than the ₹114 crore gathered in the 2024-25 financial year. PMC officials noted that the total revenue from various sources reached around ₹250 crore, although these figures are provisional and may increase as calculations are finalized. The municipal area encompasses 3.06 lakh holdings, with collections…

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Vijayawada Civic Body Sees ₹267 Crore Tax Collection in FY26

VIJAYAWADA: The Vijayawada Municipal Corporation (VMC) has achieved a total tax collection of ₹267.10 crore for the recently concluded 2025-26 financial year. This marks an increase of ₹15 crore compared to the previous year’s collection of ₹252 crore. The city holds 2.27 lakh property tax assessments and 14,575 vacant land tax (VLT) assessments, with current demands of ₹172.60 crore for property tax and ₹22.98 crore for VLT assessments. The overall demand for property tax and VLT, including arrears, is ₹454.00 crore, of which ₹226.28 crore was collected during the financial year. As per the Revenue DCB (Demand, Collection, Balance) abstract…

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Belagavi: BCC’s Property Tax Hits ₹70.8 Crore, Still Short of Goal

BELAGAVI: The Belagavi City Corporation (BCC) collected ₹70.8 crore in property tax for the fiscal year 2025-26, marking a slight rise of ₹1.3 crore from the ₹69.5 crore collected in 2024-25. Despite this marginal increase, the civic body again fell short of its revenue target. The revenue department aimed for ₹78 crore this year, in addition to ₹11.4 crore from the previous year, resulting in a total target of ₹89.4 crore, which was not achieved. Officials, including City Corporation Commissioner Kartik M and Revenue Deputy Commissioner Sidhu Hulloli, made extensive efforts to boost collections. Multiple review meetings were conducted, specific…

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Nashik’s property tax revenue rises 10% to ₹287 crore

NASHIK: The Nashik Municipal Corporation (NMC) has reported a 10% increase in property tax collection for the financial year 2025-26, achieving a record revenue of Rs 287 crore, compared to Rs 257 crore in the previous year. This marks the highest property tax collection in the NMC’s history, which spans over four decades. Civic officials attribute this revenue surge to various factors, including amnesty schemes, incentives for timely payments, and a steady rise in registered properties in the city. Of the six divisions, Cidco led with Rs 59 crore in property tax, followed closely by Panchavati at Rs 58 crore.…