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 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…

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Bombay HC Orders 11 to Vacate Dilapidated Vasai Buildings

MUMBAI: The Bombay High Court, noting that an obstructive attitude can hinder redevelopment, has directed the minority residents of four deteriorating buildings in Vasai West to vacate their apartments for demolition. An extension of 15 days was granted to 11 members due to the Ganpati festival. Justices Girish Kulkarni and Manjusha Deshpande emphasized on August 21, “These members must cooperate by vacating their units for the demolition.” Petitions were submitted by Pushpanjali CHSL and Deepanjali CHSL regarding their buildings located at Diwan and Sons Housing Enclave on Ambadi Road, which were declared dangerous by the Vasai Virar Municipal Corporation (VVMC)…

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Nagpur: I-T Dept Discovers Selective Realty Deal Under-Reporting

NAGPUR: The income tax department has identified a distinct pattern of underreported transactions by the property sub-registrar offices (SRO) in the area during its ongoing investigation. It has been specifically observed that transactions involving a select group of builders in the city were not completely reported in the Statement of Financial Transactions (SFT). Sources indicate this trend has been recurring. The SFT is designed to ensure that every SRO reports property deeds registered for amounts of Rs30 lakh and above to the Income Tax department. This allows them to cross-reference these with the tax returns filed by buyers and sellers.…

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HC Urges Govt to Adopt Madurai’s Property Tax Assessment Model

MADURAI: The Madurai corporation commissioner has submitted a detailed action plan to verify property tax assessments for all buildings within the city limits. In response, the Madras High Court directed the state to issue a circular to all corporations, municipalities, and town panchayats, advising them to adopt the Madurai corporation model. Following a previous order, Commissioner Chitra Vijayan reported to the court that 100 teams have been formed for property tax assessments across the city’s wards. Each team consists of a tax collector, a technical assistant, and a sanitary supervisor. The officials have undergone training in the new assessment procedures,…

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Telangana High Court Orders Protection for Petitioner’s Land

HYDERABAD: The Telangana High Court directed the Hyderabad Disaster Response and Asset Protection Agency (HYDRAA) and other authorities regarding two housing plots spanning nearly 2,000 sq. yds. in surveys 66 and 67 of Madhapur village, Serilingampally mandal. Justice B. Vijaysen Reddy presided over the petitions by Jagal Reddy and Y. Venkat Reddy, ordering HYDRAA to remove signboards installed on the disputed lands. Jagal Reddy requested protection for his plot measuring 1,190 sq. yds., which he purchased in 1998 and later regularized under GO 456 of 2008. He alleged that HYDRAA attempted a “symbolic possession” of the land at 3 a.m.…

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Welspun Takes NCLT Action Against Lavasa’s Bidder Valor

Representative image. MUMBAI: The Welspun Group has submitted a petition to the Mumbai bench of the National Company Law Tribunal (NCLT), pointing to past defaults in an effort to disqualify top bidder Valor Estates from the debt resolution process for Lavasa Corp, known for its ambition to establish India’s first planned hill city. This interlocutory application, filed through a Welspun subsidiary, emphasizes connections between Valor’s promoters and another delinquent, debt-ridden jeweler, which could lead to automatic disqualification under the law. The submitted plea alleges that Valor’s ineligibility stems from Section 29A of the bankruptcy code, which precludes individuals with a…