The BMC's assessment and collection department has issued notices to several Mumbai Metro contractors for over INR 370 crore in unpaid property tax. As metro construction works are ongoing across the city, contractors are liable to pay taxes on casting yard plots but some like HCC-MMC, CEC-ITD, Doga Soma and L&T have reported delays. Mumbai Metro One Pvt Ltd (MMOPL), which operates the city's first metro line, also owns two large land parcels in Andheri West but has not submitted taxes since 2013, leading the Andheri East and West wards to issue notices for INR 80 crore and INR 220 crore respectively. The BMC warns of cutting water supply or auctioning attached properties if dues remain unpaid by the fiscal year-end.Read more

The National Company Law Appellate Tribunal (NCLAT) overturned a petition submitted by homebuyers of a project in Greater Noida, seeking insolvency proceedings against Ansal Hi-tech Township Ltd. The petition sought insolvency proceedings for a project in Greater Noida. NCLAT reiterated NCLT's ruling, stating the homebuyers didn't meet criteria for filing insolvency as they belong to various projects. The dispute centered on the definition of 'Sushant Megapolis' as a unified project. The tribunal's decision signifies a setback for the homebuyers' efforts to address their grievances through the insolvency route.Read more

The Bombay High Court recently heard an appeal by a Pune developer challenging orders directing payment of interest to two homebuyers for delayed possession of their homes beyond the promised dates of August 2016 and September 2017. While dismissing the appeal, the High Court upheld the homebuyers' right to claim interest for delayed possession under Section 18 of RERA, even after taking possession. In its ruling, the Court clarified that homebuyers can take possession first before filing complaints with MahaRERA to avoid further losses, and that Section 18 applies to both homebuyers who have withdrawn or are continuing in delayed projects.Read more

PNT Reporter

The Municipal Corporation of Delhi (MCD) has resolved to impose 1% monthly interest on pending property tax and service charges for government and railway properties, effective April 1. The decision follows a circular issued by MCD's assessment and collection department, stipulating interest charges if payments are made after the due date of June 30 each financial year. This measure aims to address outstanding dues totaling around INR 2,000 crore from government departments, PSUs, and railways. MCD's efforts to enhance tax collection include imposing interest on defaults, previously applied only to private properties, reflecting a broader strategy to ensure timely payments and boost revenue.Read more

PNT Reporter

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has made it mandatory for real estate developers to disclose their bank account details in recovery orders sent to the revenue department. This aims to improve the efficiency of recovering compensation owed to homebuyers by identifying developers' bank accounts so the revenue department can more easily attach properties and retrieve owed amounts. The decision comes as homebuyers nationwide raise concerns over non-compliance or delayed enforcement of recovery orders against defaulting developers.Read more

PNT Reporter

The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) established a conciliation forum in February 2019 to resolve disputes between property buyers and developers in an amicable manner before moving to formal arbitration. Between 2019-2023, the forum helped resolve over 1,400 complaints worth over INR 570 crore in assets involving delays, charges, and other issues. Over 70% of the resolved disputes were related to residential properties. The conciliation process allows both parties to present their perspectives to the RERA conciliator and representatives, who then facilitate a consensus-based solution. Officials credit the involvement of homebuyer and builder associations for the high success rate of the forum in avoiding litigation while streamlining the dispute redressal process.Read more

PNT Reporter

In a significant judgment, the Bombay High Court has approved the redevelopment of a Mumbai housing society by Truearth Developers, rejecting an insolvent builder's claim over the project. The court emphasized that the Insolvency and Bankruptcy Code cannot be used to delay development or deny transit rent payments to displaced residents. It criticized the practice as "absurd" and "inequitable", underscoring that society members should not suffer due to a builder's insolvency. The ruling reaffirms residents' fundamental rights to redevelopment and compensation, setting an important precedent that prioritizes citizens' welfare over narrow corporate interests.Read more

PNT Reporter

The state government approved CIDCO's redevelopment policy for dilapidated buildings in NAINA, granting a 30% extra area. Villagers demand 2.5 FSI for feasibility. The policy applies to 94 villages in NAINA, covering 225.59 sq km, particularly those with Town Planning Schemes ready. Residents of dilapidated or 30-year-old buildings will benefit, with either extra FSI or additional construction area without premium. NPBSUS opposes the policy, advocating for 2.5 FSI and implementation of Unified Development Control and Promotion Regulations (UDCPR). Panvel MLA Prashant Thakur supports the decision, citing safety concerns for residents. The debate continues between government initiatives and villagers' demands for sustainable redevelopment.Read more

PNT Reporter

In a decisive move, the Bombay High Court has instructed the Navi Mumbai Municipal Corporation (NMMC) to dismantle an unauthorised structure situated on CIDCO land within the span of eight weeks. The court firmly dismissed any possibility of regularisation through fines or compensation, emphasising the paramount importance of private interests aligning with the public good. Identified as belonging to Ishwar Mavji Patel, the structure's illegal status underscores the necessity for strict adherence to legal regulations governing land usage and construction in the region.Read more

PNT Reporter

Ahmedabad's civic body, the AMC, has announced a significant policy change regarding temporary leases. Under the new regulations, revised jantri rates will be enforced by the AMC for these temporary leases. Notably, there will be a 25% concession on rent specifically for plots utilized for commercial purposes. Previous plots rented for various activities will now reflect updated jantri rates, signaling a significant policy shift. This move marks a shift in the city's land management strategy, aiming to streamline lease processes while also providing incentives for commercial activities within the region.Read more