Tag: Chandigarh

Latest StoriesRera

Punjab RERA mandates ₹25 lakh payout for delayed possession

MOHALI: In a landmark decision, the Punjab Real Estate Regulatory Authority (RERA) has mandated a real estate promoter to pay approximately Rs 25 lakh in delay interest to homebuyers. The ruling states that project timelines should commence from the initial booking date, not from the date the sale agreement is executed. The complainants, who are faculty members at Punjab Engineering College, Sector 12, reported delays in receiving possession of their property. The case was represented by advocate M Shahnawaz Khan. In a crucial determination, RERA concluded that, since the initial booking occurred in 2018, the promoter could not sidestep responsibility…

Latest StoriesRegulatory

ED Searches Punjab Properties in Real Estate Fraud Case

CHANDIGARH: On Tuesday, the Enforcement Directorate initiated searches at multiple sites in Punjab and Chandigarh linked to a real estate company and its promoters, as part of a money laundering investigation related to alleged fraud involving the Greater Mohali Area Development Authority (GMADA), according to officials. Locations associated with Chandigarh Royale City Promoters Pvt. Ltd. (CRCPL), Royale Estate Group (located in Zirakpur, Mohali), and other individuals such as Praveen Kansal alias Rocky, Neeraj Kansal, Daljit Singh, Anurag Midha, Liaqat Ali, and Sumit Bansal were targeted during these searches. This action was taken under the Prevention of Money Laundering Act (PMLA).…

InfrastructureLatest Stories

Chandigarh’s 2031 Master Plan: Vertical Development Ahead

CHANDIGARH: In a bold shift from its usual restrictive planning, the Chandigarh administration has announced major amendments to the development controls under Master Plan 2031. These changes permit higher density, taller buildings, and more design flexibility across various land-use categories. The proposed modifications diverge sharply from current regulations, which prohibit increases in Floor Area Ratio (FAR), ground coverage, or building height for commercial and institutional projects to prevent infrastructure strain. The new guidelines indicate a clear movement towards vertical growth and enhanced land utilization. Introducing Flexibility Centrally to this reform is the standardization of maximum ground coverage to 40% across…

IndustryLatest Stories

Chandigarh’s Freehold Initiative to Unlock Crores in Properties

CHANDIGARH: The Chandigarh administration has taken significant steps to convert leasehold industrial and commercial plots to freehold ownership, a move expected to unlock properties valued at hundreds of crores, enhance revenue, and improve the ease of doing business. The Punjab governor and UT administrator, Gulab Chand Kataria, has approved a comprehensive proposal, which has now been sent to the Ministry of Home Affairs (MHA) for final approval. A senior MHA official commented, “The ministry is currently reviewing the proposal from UT Chandigarh.” This development follows earlier indications from the administrator that the matter was being considered. Will This Attempt Succeed?…

Latest StoriesResidential

65,000 Chandigarh Housing Board Homes Up for Review

CHANDIGARH: The UT administration has established a committee to assess the “need-based changes” made to Chandigarh Housing Board (CHB) homes, impacting over 65,000 units throughout the city. Under the leadership of the CHB CEO, and following directives from the board chairman, the committee is expected to present its findings within two weeks. Officials noted that numerous allottees have undertaken additional constructions, referring to them as “need-based changes,” while the administration views many of these as building violations. Despite the recent introduction of the 2023 need-based changes policy, residents maintain that their concerns remain unaddressed. Tensions escalated after the CHB demolished…

IndustryLatest Stories

Chandigarh Can Now Impose Fire Tax on Buildings

CHANDIGARH: The Chandigarh administration is now authorized to impose a fire tax or cess on buildings that pay property tax within the municipal corporation, following the extension of the Haryana Fire and Emergency Services Act, 2022, to Chandigarh. The fire tax will be calculated as a percentage of the property tax, with rates to be determined by the administration periodically. This initiative is part of a significant update to Chandigarh’s fire safety framework, replacing the previously enforced Delhi Fire Prevention and Fire Safety Act of 1986. The updated framework extends the validity of fire safety certificates (FSCs) from three to…

Latest StoriesResidential

Key Tenancy Reforms Launched in Chandigarh

CHANDIGARH: After over six years of discussions between the Centre and the UT administration, significant tenancy reforms are now in effect in Chandigarh following the adoption of the Assam Tenancy Act, 2021. This reform is anticipated to greatly impact the city, where nearly 50% of the residents live in rented properties. Realty analysts predict that many residential and commercial spaces will enter the formal rental market, potentially alleviating rental pressures and positively affecting rental values through increased supply. The new legislation replaces the outdated East Punjab Urban Rent Restriction Act, 1949, which has long been deemed inadequate for contemporary socio-economic…

Latest StoriesRegulatory

Punjab Minister Sanjeev Arora in 7-Day ED Custody

File photo GURUGRAM: A special PMLA court in Gurugram has remanded Punjab Industries Minister Sanjeev Arora to Enforcement Directorate (ED) custody for one week in connection with an alleged Rs 100-crore GST fraud-related money laundering case. The court noted that the allegations are “very serious” and the ED needs to investigate further. The lawyer representing Arora, a senior member of the Aam Aadmi Party (AAP) in Punjab, claimed that a “false and frivolous” case was fabricated against him, asserting that “no prima facie evidence” was gathered prior to his arrest. Arora, aged 62, was taken into custody by the ED…

Latest StoriesRegulatory

ED Files Case Against TDI Infrastructure and Directors

CHANDIGARH: The Directorate of Enforcement (ED) has filed a prosecution complaint against TDI Infrastructure Ltd. and its directors — Ravinder Taneja, Kamal Taneja, and D N Taneja — under the Prevention of Money Laundering Act (PMLA), 2002, officials confirmed on Saturday. This action follows the chargesheet filed by the Gurugram unit of the ED before the special PMLA court at Patiala House, New Delhi, which has issued notices to all accused parties. As per ED, the investigation was triggered by several FIRs and charge sheets from Delhi Police. The agency accuses TDI Infrastructure and its promoters of cheating numerous homebuyers…

Latest StoriesRegulatory

ED raids Punjab CM’s aide in land fraud case; CM denies ties

CHANDIGARH: On Thursday, the Enforcement Directorate (ED) conducted searches at multiple locations in Punjab and Chandigarh, targeting the premises associated with a purported aide of an OSD-rank official in the Chief Minister’s Office (CMO). This operation was part of an investigation into money laundering linked to two real estate groups accused of fraudulent land use changes and scamming investors. Approximately a dozen locations were searched in Mohali (SAS Nagar) and Chandigarh connected to the Suntec City project (developed by Indian Cooperative Housing Building Society – ICHBS) and its promoter, Ajay Sehgal, along with ABS Townships, Altus Space Builders, Dhir Constructions,…