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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Nashik Launches Tax Rebate Scheme for Property Defaulters

NASHIK: The Nashik Municipal Corporation (NMC) has announced an amnesty scheme for property tax defaulters, starting Monday, September 1. This initiative aims to recover a substantial part of the total outstanding property tax, which is estimated to be Rs784 crore, including Rs327 crore in penalties accumulated over the years. The scheme offers a significant waiver on penalties for those who clear their dues. Defaulters who pay off all outstanding property tax between September 1 and October 31 will receive a 95% waiver on the penalties. For payments made in November, the penalty waiver will be reduced to 85%. The NMC…

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OSB Director Faces FIR for Fund Misuse & License Violations

GURUGRAM: In a significant enforcement action within Haryana’s affordable housing sector, an FIR has been filed against a company and its director for financial fraud, licensing infringements, and extensive irregularities. The Haryana State Enforcement Bureau has lodged the FIR against M/s Ocean Seven Buildtech (OSB) Pvt Ltd and its director, Swaraj Singh, following a complaint from the district town planner (enforcement). This action has led to authorities requesting a lookout circular (LOC) against Singh due to concerns he might flee the country. The FIR cites violations under Sections 10 and 12 of the Haryana Development and Regulation of Urban Areas…

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SC upholds termination of unused salt pan land lease in Mumbai

MUMBAI: Recently, the Supreme Court upheld an interim order from the Bombay High Court, which denied a request to stay the termination of a lease for 150 acres of salt pan land from a total of 782 acres located in Mulund, Bhandup, and Kanjurmarg. The court emphasized that a stay is not a statutory entitlement in appeals. The Supreme Court expressed a “prima facie opinion,” indicating that the High Court correctly denied relief to the lessee based on equitable considerations, as the specified 150 acres adjacent to the Eastern Express Highway had not been used for salt production for nearly…

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Ranchi Civic Body Names Govt Entities as Major Tax Defaulters

RANCHI: The Ranchi Municipal Corporation (RMC) has made public a list of the largest property tax defaulters, highlighting several key government entities with total dues reaching into thousands of crores. RMC officials reveal that government buildings within municipal boundaries owe upwards of Rs 60,000 crores, severely impacting the civic body’s revenue. Among the most significant defaulters is the Heavy Engineering Corporation (HEC), with outstanding dues of approximately Rs 40.72 crore. The South Eastern Railway’s Ranchi division owes Rs 2.38 crore, while the Hatia division has unpaid dues of Rs 1.77 crore. Additionally, the Sports Authority of Jharkhand in Morabadi has…

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Madras HC Criticizes Chennai Civic Body for Sealing Delays

Here’s a rewritten version of your content: CHENNAI: The Madras High Court has criticized the Greater Chennai Corporation (GCC) as “negligent and indolent” for failing to follow court orders concerning unauthorized constructions. Instead of enforcing lock-and-seal orders, the GCC has been allowing building occupants to explore other options. This case arose from a petition aimed at sealing a building in Virugambakkam. During a hearing on April 3, the court reprimanded the GCC for neglecting a similar petition from 2023. Although the GCC requested four weeks for compliance, the case was not revisited until August 12. Due to the GCC’s inaction,…

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SC Orders Odisha to Follow December 2024 Building Law Ruling

BHUBANESWAR: A local resident has recently submitted a contempt petition to the Supreme Court, claiming that authorities have not complied with its December order mandating all states and Union Territories to issue circulars enforcing adherence to urban development laws. The Supreme Court had previously instructed that all buildings—new and old—must comply with approved plans and secure occupancy certificates (OC) to ensure essential services like water and electricity. However, over eight months later, Odisha has reportedly failed to issue such a circular. Taking the petition into consideration, the Supreme Court stated, “Although the petitioner has invoked the contempt jurisdiction of this…

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SC appoints ex-IB chief to probe Supertech insolvency case

Sure! Here’s a rewritten version of the content: The Supreme Court on Friday requested the insights of former Intelligence Bureau director and former National Human Rights Commission member Rajiv Jain regarding the insolvency proceedings of Supertech Realtors. This request follows a recent CBI report that accuses suspended director Ram Kishore Arora of misappropriating homebuyers’ funds in 21 projects. A Bench led by Justice Suryakant decided against staying the NCLAT’s August 13 ruling upholding the insolvency proceedings against Supertech Realtors. The Bench noted that every project associated with Arora is under investigation due to allegations of siphoning off significant amounts of…

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Bombay HC Warns of Chaos from Unchecked Illegal Constructions

MUMBAI: The Bombay High Court recently warned that without decisive measures to address illegal constructions, rapidly growing towns could face “a colossal failure” in meeting lawful town planning goals, leading to chaos and disaster for future generations. Justices Girish Kulkarni and Manjusha Deshpande emphasized that civic bodies should promote only the lawful and legitimate expansion of cities, instead of allowing “demons of large-scale unauthorized constructions”. The court, in an order dated August 21, stated, “Resources such as water and electricity, along with public amenities like parks and playgrounds, are intended for those living in authorized buildings.” It asserted that illegal…

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SC Urges Dinshaw Trust to Settle with Bastion on Malad Plots

The Supreme Court urged the F.E. Dinshaw Trust, led by Wadia Group Chairman Nusli N. Wadia, to consider negotiating with Bastion Constructions over the transfer of two plots totaling 99,709 square meters in Malad, Maharashtra. A Bench headed by Justice Aravind Kumar advised senior counsel NK Kaul, representing Wadia, to “sit down and try to settle it,” noting that “prima facie, all odds are against you.” The court requested that both parties report back on any developments during the next hearing scheduled for September 19. In response to a June 27 judgment from the Bombay High Court, which mandated Wadia…

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SC Rejects Appeal Against HYDRAA Eviction Orders

HYDERABAD: On Friday, the Supreme Court dismissed a civil appeal from city businessman P. Satya Narayana, challenging eviction orders from the Hyderabad Disaster Response and Asset Protection Agency (HYDRAA). This ruling allows the Jubilee Hills House Building Cooperative Society to reclaim a valuable 2,000-square-yard property in Jubilee Hills. After the Telangana high court ruled in favor of HYDRAA and the cooperative society on August 21, affirming the eviction orders, Satya Narayana took his case to the Supreme Court. HYDRAA had issued notices to Satya Narayana, instructing him to remove a tin shed and nursery garden on the disputed land on…