The Bombay High Court has issued a significant judgment directing the Brihanmumbai Municipal Corporation (BMC) to process permissions for the redevelopment of a property near the INS Trata naval missile battery base in Worli, Mumbai, without the need for prior approval from naval authorities. The court's decision emphasized that a structure of the same height and location should not pose a security threat merely by undergoing reconstruction. The ruling has far-reaching implications, as it quashed defence ministry circulars and established the importance of adhering to established legal procedures when imposing construction restrictions near defence installations, striking a balance between security and property rights.Read more

The Enforcement Directorate (ED) has provisionally attached properties worth Rs 17.92 crore belonging to Shine City Properties Ltd under the Prevention of Money Laundering Act (PMLA), 2002. The attached assets include 47 parcels of land spanning 10.27 hectares in Rajatalab Tehsil, Varanasi. The ED had registered a case under PMLA against Shine City Properties in 2021 and the investigation uncovered alleged financial irregularities wherein funds collected from the public were diverted by the accused, leading to investor fraud. The total attachment in the case by the ED has reached approximately Rs.128.54 crore.Read more

The assessment and compensation process for properties damaged in Nagpur's recent flash floods faced challenges as the extended deadline wasn't met, leaving several areas unexplored. Deputy Chief Minister Devendra Fadnavis had announced financial assistance for affected property owners, but concerns arose about the sufficiency of compensation amounts. Disparities in estimations and demands for including more affected areas highlighted the need for comprehensive assessments. Despite these challenges, the administration aimed to conclude the process efficiently to provide meaningful support to flood-affected residents and businesses. This situation underscores the importance of an effective response and preparedness for natural disasters.Read more

In a significant move to improve the living conditions of sanitation workers, Chief Minister Himanta Biswa Sarma announced a housing initiative to construct 2,000 new houses exclusively for these essential workers. This Rs 500 crore project is a testament to the state's commitment to providing dignified housing for sanitation workers who serve municipal corporations and bodies. The announcement followed CM Sarma's active participation in the 'Shramdaan for Swachhta' campaign, highlighting the government's recognition of the invaluable contributions made by these workers. The initiative not only addresses housing needs but also signifies a shift in societal attitudes, affirming the importance of sanitation workers.Read more

Union Bank of India has objected to the loan-default resolution plan for Lavasa Corp, alleging collusion between the resolution professional and the winning bidder, Darwin Platform Infrastructure (DPIL), to undervalue Lavasa's assets, causing losses to creditors. Union Bank is seeking the withdrawal of NCLT approval and a fresh valuation of assets. Lavasa, once India's first privately built city, went bust in 2018 after defaulting on payments to creditors, and DPIL's resolution plan, approved in 2021, is now facing scrutiny.Read more

The demand for real estate in Goa’s Pernem has boomed exponentially due to the Manohar International Airport at Mopa. Goa’s town and country planning (TCP) department has initiated a shift to zoning plan for each taluka instead of region based planning. This has facilitated the conversion of Goa's green cover for luxury projects like hotels and villas. Pernem is about to lose 21% of its green cover due to this change in planning approach. Locals in Pernem have initiated protests against the substantial land conversion driven by external builders and property owners.Read more

The Himachal Pradesh High Court has made a significant ruling regarding a tenant's right to re-enter a property under the Himachal Pradesh Urban Rent Control Act of 1987. The court emphasized that this right is not absolute and must be evaluated on a case-by-case basis, taking into account factors such as the purpose of reconstruction and the landlord's genuine requirements. The judgment highlighted scenarios where tenants may not have a valid claim for re-entry, such as when a property is converted for commercial use or when a landlord intends to use it exclusively for personal residential purposes. This ruling underscores the need for a nuanced and context-specific approach when adjudicating tenant re-entry rights.Read more

Private housing societies in Maharashtra now have the authority to forcibly evict members obstructing redevelopment. The state cabinet has approved an amendment to the Maharashtra Apartment Ownership Act, introducing Section 6B. This new provision mandates apartment owners to vacate their premises when the association of apartment owners passes a resolution for redevelopment under Section 6A. In cases of non-compliance, the planning authority can involve the police to enforce eviction. This move addresses ambiguities and resistance in redevelopment projects and mirrors provisions in the MHADA Act. Over 40% of buildings in Pune and substantial percentages in other cities fall under this act.Read more

The Uttar Pradesh government is considering a rehabilitation package for stalled real estate projects, following recommendations from an expert committee led by Amitabh Kant. The package includes a four-year "zero period" during which interest on land dues and penalties for default would be waived. This zero period covers specific phases due to COVID-19 disruptions and environmental considerations. The committee also suggests granting additional floor area ratios (FAR) to projects on payment of extra charges to bridge funding gaps. Developers collectively owe over Rs 47,000 crore to development authorities in the region. This move aims to revive the real estate sector in Uttar Pradesh.Read more

The special PMLA court in Mumbai denied bail to HDIL promoters Rakesh and Sarang Wadhawan, who have been in jail since 2019 in connection with the Punjab and Maharashtra Co-operative (PMC) Bank case. The court emphasized their deep-rooted involvement in money laundering, citing the total proceeds of crime amounting to Rs 6,117.9 crore. Despite the promoters invoking Section 436-A of the Criminal Procedure Code, which allows bail for undertrials detained for over half of the prescribed sentence, the judge rejected the plea, noting their suppression of facts regarding the time spent on various legal proceedings.Read more