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The Ahmedabad Municipal Corporation announced a significant achievement during its recent 'green corridor drive', having successfully resolved 33,000 applications related to property tax matters. Jainik Vakil, the esteemed chairman of the revenue committee, highlighted the substantial volume of applications received, encompassing various requests such as name changes, ownership transfers, and tax rebates, among others. This commendable accomplishment showcases the diligent efforts undertaken by the corporation to address and resolve property tax-related issues efficiently. ...
A man based in Delhi has received approximately Rs 16 lakh as a penalty for delay from the developer of a residential complex project in Noida. The possession of the flat was handed over to him five years beyond the originally promised deadline. As per the Uttar Pradesh Real Estate Regulatory Authority (RERA), the buyer had made a booking for a flat in Mahagun Mezzaria, located in Sector 78 of Noida, in 2017. The buyer had paid a sum of Rs 1.35 crore to the promoter, NexGen Infracon. ...
Approximately 20 residents residing in a five-storey building located in DLF 3 had to be relocated after the building tilted on Monday night, potentially due to excavation activities taking place on the adjacent plot. The owner of the building, identified as U-20/8, has received a notice for engaging in construction activities that violate the Haryana Buildings Code of 2017. Similarly, the owner of the neighboring plot has also been requested to provide an explanation for conducting excavation work without the presence of an architect or engineer at the site. At present, the building, which has tilted slightly to the right, is being supported by two cranes. ...
The police have filed charges against the directors and a number of high-ranking executives of a developer based in Delhi for allegedly defrauding an investor. As per the authorities, numerous individuals had invested in shops at Ansal Hub, a commercial complex located in Sector 83, back in 2010. The builder, known as Ansal Housing Limited, had promised to deliver the properties by 2014; however, the completion of the properties is still pending. ...
Deputy Chief Minister Devendra Fadnavis stated on Thursday that the state government has not yet made a decision to revoke the Maharashtra Ownership of Flats Act (MOFA), 1963. Although associations representing developers have called for the repeal of the Act, numerous individuals, including the cooperation department, have expressed their support for its continuation. Various consumer groups have taken the initiative to voice their opposition to the proposal of repealing MOFA by submitting multiple representations to the housing department. ...
A collective of investors, comprising mainly senior citizens, who have invested in two projects, namely Prism Portico in Sector 89 and Prism Suites in Gwalpahari by Ninaniya Estates Limited, expressed their grievances by staging a protest at the developer's office on Wednesday. These projects have remained incomplete for the past decade, and the investors alleged that the developer has defaulted on multiple occasions and is refusing to provide them with refunds. Despite lodging several complaints with various authorities such as the Department of Town and Country Planning (DTCP), the police, and others, the government has failed to take any action in response to their plight. ...
The Department of Town and Country Planning (DTCP) has instructed the developer of Chintels Paradiso, a society located in Sector 109, to arrange for another structural audit of Tower A. This audit is to be conducted by a different agency, preferably the Central Building Research Institute (CBRI), and must be completed within a period of 30 days. Previously, the Indian Institute of Technology Delhi (IIT-Delhi) had conducted an audit of the tower. While the institute's report, which was made public earlier this month, stated that the tower is currently deemed safe, it also highlighted signs of deterioration. As a precautionary measure, the report recommended an annual structural audit to ensure the safety of the residents. ...
According to officials, the Municipal Corporation of Delhi (MCD) has taken the decision to bar 140 architects from granting approval for building plans. This action was prompted by complaints regarding the approval of plans containing incorrect information by architects affiliated with the MCD. In response, the MCD has announced that 20% of the plans will undergo a thorough scrutiny process. Currently, the MCD has approximately 1,300 architects on its panel. ...
The Mumbai bench of the Income-tax Appellate Tribunal (ITAT) has ruled that owning multiple residential houses in co-ownership does not prevent taxpayers from availing tax exemption on long-term capital gains. This significant decision, which pertains to Section 54F of the Income-tax (I-T) Act, will have advantageous implications for numerous taxpayers. It is particularly relevant in situations where joint investments in real estate are commonly made within large families. ...
The Ahmedabad Urban Development Authority (AUDA) has recently announced an upcoming auction of eight plots, collectively valued at Rs 561.28 crore. These prime plots are situated in Chandkheda, Bopal, Vejalpur, and Manipur-Godhavi. Notably, these exclusive spaces will be auctioned at a considerable discount compared to their market price. The auction is scheduled to take place on June 30 and July 1. ...
The Maharashtra Real Estate Tribunal (MREAT) has made modifications to a previous 2021 order issued by the Maharashtra Real Estate Regulatory Authority (MahaRERA). The original order had denied home buyers the entitlement to receive interest on their payments from the day they were made, as well as refunds for additional payments like stamp duties and registration fees. However, in the latest ruling, MREAT directed a developer based in Andheri to compensate the home buyer with interest, commencing from the day of the initial deposit, and further mandated the refund of all statutory payments. ...
In relation to a money laundering case involving the real estate firm IREO, the owners of M3M Group, Basant Bansal and Pankaj Bansal, have been granted interim protection from arrest until July 5 by the Delhi High Court. A vacation bench presided by Justice Chandra Dhari Singh has specified that if the arrest were to occur, the Gurugram-based realty company owners would be eligible for bail, subject to specific conditions. These conditions include a personal bond of Rs 10 lakh each, along with two sureties of the same amount. ...
According to official sources, the Enforcement Directorate (ED) has apprehended Basant Bansal and Pankaj Bansal, who serve as directors of M3M, a real estate group based in Gurugram. Their arrest is connected to a case of money laundering linked to a former special court judge from Panchkula, as per an anti-corruption bureau investigation. The agency took the two directors into custody on Wednesday, utilizing the provisions outlined in the Prevention of Money Laundering Act (PMLA). ...
According to official sources, the Enforcement Directorate has arrested the nephew of a suspended judge, who was previously stationed at a special court in Panchkula. The arrest is part of a money laundering investigation connected to a bribery case involving the said judicial officer. Ajay Parmar, the nephew of suspended special court judge Sudhir Parmar, was apprehended after the federal agency conducted searches at his residence. Following his arrest, he was presented before a special Prevention of Money Laundering Act (PMLA) court in Panchkula, which remanded him to ED custody until June 20. ...
In response to a public interest litigation filed by P Mahalingam, a resident of Dindigul district, the Madras High Court has instructed the Dindigul district collector and the assistant director of the geology and mining department to conduct an investigation and submit a report regarding a plea aimed at preventing illegal sand mining in water bodies within the Dindigul district. This directive was issued by a division bench consisting of Justice R Subramanian and Justice L Victoria Gowri. ...
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