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 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…

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ED Seizes ₹100 Crore in Assets from Unnati Fortune Holdings

NEW DELHI: The Enforcement Directorate announced on Monday that it has attached fresh assets worth over Rs 100 crore belonging to a realtor from Uttar Pradesh and his company under the anti-money laundering law related to a cheating case. The assets are tied to ‘The Aranya Project,’ developed by Unnati Fortune Holdings Limited (UFHL), headed by Anil Mithas. Mithas, based in Ghaziabad, was arrested by the federal probe agency in April and remains in judicial custody. A chargesheet was submitted by the ED to a special Prevention of Money Laundering Act (PMLA) court in Ghaziabad in May. The ED’s investigation…

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Punjab Cancels Developer’s Partial CLU Approval

MOHALI: In a significant blow to a local developer, the Punjab government has revoked a part of the Change of Land Use (CLU) permission previously granted for an industrial colony in Sector 102, covering the villages of Drari and Dhurali. The director of town and country planning in Punjab issued the cancellation on Thursday, alleging that the developer submitted forged documentation. The revocation involves 9 kanals and 15 marlas (approximately 1.3 acres) of land, which is now excluded from the project. The decision has left 200 investors, who have reportedly invested about Rs 250 crore, uncertain about the project’s future.…

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ED: Builder Paid ₹15 Crore Bribe to Vasai’s Ex-Civic Chief

MUMBAI: The Enforcement Directorate (ED) claims that a builder paid Anil Pawar, the former civic chief of Vasai-Virar, and Y S Reddy, the deputy director of town planning, a bribe of Rs 15 crore to secure project clearances. Both individuals were arrested in August during a money laundering investigation connected to alleged illegal constructions and corruption. While seeking Reddy’s custody, the ED reported that both he and Pawar demanded Rs 30 per square foot from the builder, totaling a bribe request of Rs 4.3 crore for one project. According to an employee under Reddy’s supervision, bribes were collected and delivered…

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Calcutta HC: Building Nod Can’t Be Denied Based on Old Plans

KOLKATA: The Calcutta High Court has ruled that the civic body cannot deny building permits based on a nearly 100-year-old street plan. The court annulled alignments for two streets from 1930 that had never been implemented. The Kolkata Municipal Corporation (KMC) had used this outdated plan to deny building permissions for properties at 74A Christopher Road and 32 Pulin Khatik Road. Justice Rai Chattopadhyay stated, “A plan must be acted upon within a reasonable timeframe. It is unfair for KMC to indefinitely uphold a historical street plan. The legislature allows for cancellation or modification of such plans after 10 years…