Category: Regulatory

Delhi HC alludes to an investigation by the CBI into unauthorized building.

February 9, 2024

NEW DELHI: The Delhi High Court bemoaned on Thursday the inability of various authorities to stop unauthorized development, stating that this would result in “complete lawlessness” throughout the city and the collapse of the entire system. A bench made up of Justice Manmeet PS Arora and Acting Chief Justice Manmohan also alluded to launching a […]

Delhi HC alludes to an investigation by the CBI into unauthorized building.more

Property tax collection delays since Mumbai’s 2023–24 invoices are still pending.

February 7, 2024

MUMBAI: Property tax collections for 2023–2024 were downsized by BMC from Rs 6,000 crore to Rs 4,500 crore. Its total collection up to January 3 was just Rs 606 crore. Property tax bills for apartments up to 500 square feet must still be issued by BMC. During his budget speech on Friday, BMC commissioner Iqbal […]

Property tax collection delays since Mumbai’s 2023–24 invoices are still pending.more

Notices are sent to 41 unregistered plot projects by MahaRERA.

February 3, 2024

PUNE: The Real Estate Regulatory Authority of Maharashtra has released 41 unregistered plotted development projects in the state that were publicized without the required MahaRERA registration received notices. While conducting property inspections in response to purchasers’ complaints about project delays in rural areas, MahaRERA authorities discovered that developers of numerous planned areas had sold units […]

Notices are sent to 41 unregistered plot projects by MahaRERA.more

Sources: Aadhar Housing Finance aims for an India IPO of $600 million.

February 1, 2024

MUMBAI: Aadhar Housing Finance, an Indian home loan firm owned by Blackstone, is aiming for a $600 initial public offering (IPO) valued between $500 million and $3 billion, according to two individuals with firsthand knowledge on Tuesday. Aadhar was purchased by private equity firm Blackstone in 2019 for roughly $300 million as a result of […]

Sources: Aadhar Housing Finance aims for an India IPO of $600 million.more

If a development impacts public safety, it cannot be allowed to relax development rules: Mumbai HC

January 31, 2024

MUMBAI: When the Bombay High Court ordered the removal of seven mechanized cantilever car parking spots (also known as stack parking) built in a residential structure here, it stated that relaxation of development laws cannot be allowed if it negatively impacts public safety. The housing society in Borivali’s stacked parking system seriously jeopardized everyone’s safety, […]

If a development impacts public safety, it cannot be allowed to relax development rules: Mumbai HCmore

Modifies Town and Country Planning Act for land conversions in Goa to skirt the legislation

January 26, 2024

PANAJI: The Goa cabinet controversially amended the Town and Country Planning Act, 1974 by substituting Section 39A for ease of land conversions in favor of Section 16B. In the assembly session that is set to start on February 2, the state administration will now change the TCP Act to remove Section 16B, which has been […]

Modifies Town and Country Planning Act for land conversions in Goa to skirt the legislationmore

Due to water access, PMRDA has put 20 development plans on hold.

January 25, 2024

PUNE: Rahul Mahiwal, the commissioner of PMRDA, told TOI on Monday that he had put 20 out of the 50 bids he had received last week on hold since the developers had not provided a clear supply of water for the projects. “These suggestions won’t be approved unless the water source is clarified… The more […]

Due to water access, PMRDA has put 20 development plans on hold.more

Frequently Asked Questions (FAQs) on Goods and Services Tax (GST)

GST must be paid by the lessor on rent if the property is utilized for business.

January 19, 2024

MUMBAI: The Authority for Advance Rulings’ Rajasthan bench has ruled that if a lessee (who is registered for GST purposes) uses a residential property for business activities, then GST (Goods and Services Tax) is imposed on the rent. In the instance of Deepak Jain, the petitioner, who rented out his property to a private limited […]

GST must be paid by the lessor on rent if the property is utilized for business.more

The RBI suggests strengthening the requirements for HFCs to take public deposits.

January 16, 2024

MUMBAI: On Monday, the Reserve Bank suggested tightening regulations for housing financing organizations by raising the necessity of retaining liquid assets against liabilities and shortening the maturity period for public deposits to five years. According to the RBI’s draft circular, which is open for comments until February 29th, housing finance companies (HFCs) are now permitted […]

The RBI suggests strengthening the requirements for HFCs to take public deposits.more

A Rs. 25,000 fine has been imposed on ICICI Home Finance for failing to execute a loan application for three years.

January 15, 2024

NAMAKKAL: A man has been ordered by the Namakkal District Consumer Disputes Redressal Commission (NCDRC) to receive Rs 25,000 from ICICI Home Finance for the three years that the company neglected to execute his loan application. In January 2019, R Murugesan, 46, a resident of Kothur near VG Patty in the district and a worker […]

A Rs. 25,000 fine has been imposed on ICICI Home Finance for failing to execute a loan application for three years.more

Category: Regulatory

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