Category: Other Cities

Large housing finance companies are urged by NHB to create a framework for early warning signals.

May 16, 2023

DELHI: As the regulator for mortgage lenders a framework for early warning signals (EWS) has been requested by NHB from home financing companies with asset sizes of over Rs 1,000 crore in order to stop financial fraud and keep accounts from becoming non-performing assets. In a recent circular, the National Housing Bank (NHB) stated that […]

Large housing finance companies are urged by NHB to create a framework for early warning signals.more

584 developers receive notifications from MahaRERA for failing to update their quarterly information.

May 9, 2023

Over 584 developers of housing projects registered in January have received show-cause warnings from the Maharashtra Real Estate Regulatory Authority (MahaRERA) for failing to update information about their projects. These are a part of the 746 new housing projects overall that total 50,288 flats and were filed with the regulator in January. They are estimated […]

584 developers receive notifications from MahaRERA for failing to update their quarterly information.more

Offices and unsold apartments in three buildings in Noida are sealed due to debts of nearly Rs 1,000 crore.

May 5, 2023

NOIDA: The marketing offices and remaining inventory of three projects with outstanding debts totaling Rs 1,000 crore were sealed on Thursday by the Noida Authority. The action was taken against two Gardenia Group projects in sectors 46 and 75 for failing to pay debts totaling Rs. 707 crores, as well as a Logix project in […]

Offices and unsold apartments in three buildings in Noida are sealed due to debts of nearly Rs 1,000 crore.more

In Q4 FY23, Home First Finance’s net profit increased by 6.38%.

May 4, 2023

NEW DELHI: The net profit of Home First Finance Company increased by 6.38 percent during the three months that ended on March 31, 2023. According to a BSE report by the company, its profit after tax increased to Rs 640.28 million in Q4 FY23 from Rs 601.88 million in the equivalent period of the previous […]

In Q4 FY23, Home First Finance’s net profit increased by 6.38%.more

Chartered accountants receive a show-cause notice from MahaRERA.

May 3, 2023

MUMBAI: After noticing that MahaRERA regulations were being broken because the same chartered accountant had been hired for the role of the project auditor as well as that of the statutory auditor, MahaRERA issued show-cause notices to chartered accountants and also wrote to the Institute of Chartered Accountants of India. Promoters are required by MahaRERA […]

Chartered accountants receive a show-cause notice from MahaRERA.more

In redevelopment circumstances, the builder’s rent is not taxable: ITAT-Mumbai

April 27, 2023

MUMBAI: The Mumbai branch of the Income-Tax Appellate Tribunal (ITAT) recently ruled that the former apartment owner is not subject to taxation on the rental income obtained from a builder as a result of a redevelopment project. Even though the taxpayer, the previous apartment owner, had moved in with his parents instead of renting another […]

In redevelopment circumstances, the builder’s rent is not taxable: ITAT-Mumbaimore

Board of Noida authorities approves a 10% increase in land prices.

April 24, 2023

NOIDA: The allotment rates for residential, group housing, and institutional plots were raised by 6% to 10% by the Noida Authority on Sunday. However, there was no adjustment in the rent for either the Authority-built apartments or the commercial properties it was leasing. On Sunday, the Authority’s board of directors authorised the decision to raise […]

Board of Noida authorities approves a 10% increase in land prices.more

In one of the oldest PMLA cases, the ED files charges against a Mumbai-based builder.

April 18, 2023

MUMBAI: The Enforcement Directorate (ED) recently filed a chargesheet in the court against developer Shailesh Sawla and two of his firms, Kunal Construction and Sawla Construction, for selling homes to prominent persons in a slum-dwelling project. It’s one of the ED’s oldest pending laundering of money cases, dating back to the Prevention of Money Laundering […]

In one of the oldest PMLA cases, the ED files charges against a Mumbai-based builder.more

The Delhi High Court has asked the Centre to respond to a request to link property to Aadhaar.

April 17, 2023

NEW DELHI: The Delhi High Court on Monday directed the Centre to file a response to a petition seeking the connection of residents’ immovable and movable property records with their Aadhaar numbers in order to combat corruption, black money production, and ‘benami’ transactions. A bench of Chief Justice Satish Chandra Sharma and Justice Yashwant Varma […]

The Delhi High Court has asked the Centre to respond to a request to link property to Aadhaar.more

ED seizes more than Rs 40 crore worth of Supertech Group assets due to allegations of money laundering.

April 14, 2023

NEW DELHI: According to the Enforcement Directorate (ED), assets belonging to the real estate firm Supertech and its directors worth more than Rs 40 crore have been seized in accordance with the anti-money laundering statute. According to the rules of the Prevention of Money Laundering Act (PMLA), a provisional order was issued on Tuesday to […]

ED seizes more than Rs 40 crore worth of Supertech Group assets due to allegations of money laundering.more