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On Wednesday, two residential premises in DLF 1 and an office running out of the Palm Springs Plaza basement on Golf Course Road were sealed by the department of town and country planning (DTCP) for infringing laws. District Town Planner (enforcement) Manish Yadav initiated action against residential premises for breaking occupation certificate regulations in response to complaints received on the CM window. ...
When Jain Housing expanded one of its high-end properties in Thoraipakkam in violation of environmental rules, the pollution control board fined the company Rs 2.19 crore. The National Green Tribunal has ordered Jain Housing to pay this fine. For the first phase of the Jains Pebble Brook apartment complex, which included 412 housing units, and the second phase, which included 396 additional units, the company received environmental clearance in 2009. ...
On Wednesday, the Esplanade Metropolitan Court dismissed Dharmesh Jain's request for bail in an alleged cheating case and placed him and his brother Rajeev in judicial custody till May 16. The directors of the building company Nirmal Lifestyle, Dharmesh and Rajeev, were both arrested last week in connection with the case. According to the bail request presented by attorney Harshad Bhadbhade, "applicants have settled the matter amicably and have entered into consent terms" with all 29 of the customers who were complainants in the initial information report, the basis for why the economic offences wing initiated the arrest last month. ...
The state administration will shortly provide guidelines to regularise property transactions on notarized documents, putting an end to the long-running problem. Nearly six lakh people in the state, particularly in Greater Hyderabad, stand to gain from the decision, which will also bring in Rs 2,000 crore for the government in the form of regularisation fees. ...
The Karnataka Real Estate Regulatory Authority (K-RERA) must adhere to the regulations governing the occupancy certificate (OC), according to homebuyers. They are asking the K-RERA to prohibit civil bodies to give certificates of partial occupancy to builders. According to Sanchalak Dhananjaya Padmanabhachar of the Karnataka Home buyers Forum, one of the key reasons why RERA Karnataka failed to give justice to home purchasers is the diluted RERA Act 2016 and misunderstood understanding of RERA Rules. ...
Upon discovering that MahaRERA regulations were being violated, as the same chartered accountant (CA) had been appointed to serve as both the project auditor and the statutory auditor, appropriate action was taken by authorities. MahaRERA issued show-cause notices to CA and also wrote to the Institute of Chartered Accountants of India. Promoters are needed to provide Form 3 when withdrawing funds from the bank, which must be confirmed by the project auditor. Promoters must also present a statutory audit report from a statutory auditor or accountant once a year. MahaRERA discovered that a single chartered accountant had filed both the forms and the certifications, which was against MahaRERA rules. ...
The revenue department has agreed to organise a working group committee to collect data on the average real estate value in various locations in order to plug revenue leakage and ascertain the correct market value of real estate. The market value of built-up properties and land will be categorised as "urban, developing, coastal, rural, and similar areas" and communicated with sub-registrars so that stamp duty and registration charges may be computed correctly. ...
Under the Urban Property Ownership Records (UPOR) programme, over four lakh property owners in Bengaluru received digitised and georeferenced property cards with a unique land property identification number until mid-April. The UPOR cards issued by the revenue department contain all property-related information. The project seeks to give property cards to all 25 lakh properties within the borders of the Bruhat Bengaluru Mahanagara Palike (BBMP). Staff at Survey Settlement and Land Records (SSLR) are in charge of carrying out the UPOR project. ...
On Monday, the high court ordered the petitioners and the government to provide detailed information regarding the residences built by the Andhra Pradesh Township and Infrastructure Development Corporation (APTIDCO) in the capital city for economically weaker individuals. ...
Due to the 5% incentive announced by the department of municipal administration and water supply, the city corporation received a stunning 50.2 crore in property tax in the first month of the fiscal year itself, setting a new record. The offer is valid for individuals who pay the first six months' installment by the end of April. ...
In April, one of the two months with a rebate facility, about 12,000 commercial and residential property owners paid Rs 4 crore tax to the municipal corporation (MC). The local body got Rs 3.20 crore tax from 11,500 residential properties and roughly Rs 70 lakh from commercial properties in the first month after offering a 20% rebate on residential property tax and 10% on commercial property tax in April and May. ...
The Bombay High Court has issued a notice to the Mumbai City Collector, Rajiv Nivatkar, for "willfully disobeying" its order to attach flats owned by a builder in Mahim. The notice asks Nivatkar to show cause as to why action should not be taken against him under the Contempt of Courts Act. This notice stems from a legal dispute initiated by a flat buyer seeking compensation from the builder for delayed possession. ...
The decision made by the civic body to offer an 8% discount to taxpayers who paid their annual property tax in April appears to have produced favorable outcomes. During the designated month, over 1.5 lakh taxpayers paid approximately Rs50 crore in total property tax. ...
In order to allow for the halted project's redevelopment, the Bombay High Court recently instructed Mhada and BMC not to insist on no-objection certificates (NOC), including those from the building's prior developer. ...
MahaRERA penalised 12 developers Rs5.8 lakh for publishing project advertising in publications without revealing their registration numbers. The 12 developers were each given a different sum in fines. For publishing an advert with the registration number in a small font and mentioning it, one was fined Rs. 10,000. ...
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