14 May 2026

Karnataka RERA has clarified that in joint development real estate projects, both landowners and developers will be held equally responsible for delays and non-compliance. The authority stated that landowners cannot escape liability when they are part of development agreements and benefit from the project. The clarification came after complaints from homebuyers regarding delayed possession and missing promised amenities. The ruling strengthens accountability under the RERA framework and ensures that responsibility for project execution and delivery is shared, improving protection for homebuyers in such developments.Read more

14 May 2026

• The Cabinet has approved two railway multitracking projects in West Bengal and Jharkhand at an estimated cost of INR 4,474 crore.
• The Sainthia–Pakur and Santragachi–Kharagpur fourth-line projects will add around 192 km to the rail network.
• The projects, targeted for completion by 2030-31, aim to improve rail capacity and reduce congestion.
• The corridors will enhance connectivity across five districts and benefit around 1.47 crore people.
• The expansion will support freight movement of coal, cement, steel, foodgrains and petroleum products.Read more

Mumbai News Desk

14 May 2026

The Mumbai Metropolitan Region Development Authority has progressed the consultant selection process for Metro Line 14, with technical bids from three firms admitted for evaluation under a tender for preparation and revision of the project’s detailed planning documents. According to tender records dated 13 May, RITES Ltd, SMEC International Pty Ltd and Tata Consulting Engineers Ltd have qualified in the technical stage of the bidding process. The tender covers appointment of expert consultants for peer review of the techno-economic feasibility study, revision of the project report, preparation of DPR estimates, surveys, bid documents and bid process management for Metro Line 14. The project forms part of MMRDA’s broader metro network expansion plans across the Mumbai Metropolitan Region.Read more

14 May 2026

The Supreme Court has set aside a Delhi High Court judgment that had directed the Centre to vacate residential premises at Sujan Singh Park in New Delhi occupied by the Directorate General of Health Services. The dispute relates to government occupation of apartments owned by Sujan Singh Park Property Owners Association and leased to the Union government since the 1970s for use as hostels and residential accommodation for doctors and medical staff. The apex court ruled that the High Court had exceeded its jurisdiction while directing eviction proceedings in a writ petition concerning payment disputes and lease terms. The matter has now been remanded for reconsideration of contractual and tenancy issues through appropriate legal proceedings. The judgment has implications for long-standing government occupancy arrangements in private residential properties in Delhi, particularly where lease agreements and public authority usage overlap with private ownership rights.Read more

14 May 2026

• Reserve Bank of India has relaxed norms governing the inclusion of quarterly profits in banks’ capital adequacy calculations by removing an additional qualifying condition linked to non-performing assets.
• The revised framework allows banks to include current financial year profits in Common Equity Tier 1 (CET1) capital calculations on a quarterly basis, subject to prescribed conditions and periodic financial review requirements.
• The amended directions apply to commercial banks, small finance banks and payments banks across the Indian banking sector.
• The move is expected to provide lenders with greater flexibility in capital management and capital-to-risk weighted assets ratio calculations. The central bank had earlier issued draft amendments for stakeholder feedback before finalising the revised prudential norms earlier this week.Read more

14 May 2026

• Reserve Bank of India imposed a monetary penalty of INR 31.80 lakh on YES Bank for non-compliance with certain Know Your Customer (KYC) provisions linked to Central KYC Records Registry identifiers.
• Separately, the central bank also levied a penalty of INR 1.8 lakh on Hinduja Housing Finance for non-compliance with governance-related regulatory directions.
• The actions follow supervisory inspections conducted by the RBI with reference to the financial position of the institutions.
• The regulator stated that the penalties were based on deficiencies in regulatory compliance and were not intended to question the validity of transactions or agreements entered into by the entities.Read more

14 May 2026

• BMC has initiated the development of an integrated digital platform to monitor construction and demolition waste movement across Mumbai.
• The proposed system will combine AutoDCR approvals, GPS-enabled vehicle tracking, geo-fencing and enforcement tools to curb illegal debris dumping.
• The initiative comes amid rising construction waste generation linked to redevelopment projects, metro corridors and road concretisation works across the city.
• The civic body has proposed penalties of up to INR 25,000 per vehicle for violations, while integrating recycling facilities, transporters and ward-level monitoring systems into a unified platform.Read more

14 May 2026

• Central Bureau of Investigation conducted searches across 17 premises in Mumbai as part of investigations involving Reliance Telecom Limited, Reliance Commercial Finance Limited and Reliance Home Finance Limited.
• The searches relate to alleged diversion of bank funds and complaints filed by public sector banks and Life Insurance Corporation of India.
• According to the agency, the alleged financial exposure across the cases under investigation stands at around INR 27,337 crore.
• The searches covered residential premises of company directors and offices of intermediary entities allegedly linked to fund diversion in cases associated with the Reliance ADA Group led by Anil Ambani.Read more

14 May 2026

• Mumbai’s Slum Rehabilitation Authority (SRA) has cancelled 181 out of 228 slum redevelopment joint venture projects due to slow progress and feasibility concerns.
• Several government agencies reportedly failed to complete basic groundwork such as surveys, beneficiary verification and redevelopment planning.
• The affected projects cover nearly 2.2 lakh slum households across Mumbai and nearby areas.
• A few projects under agencies like BMC, MHADA and MMRDA will continue, while others may now shift to cluster redevelopment models.
• The move comes amid growing concerns over stalled SRA projects, delayed rehabilitation and long-pending redevelopment across the city.Read more

14 May 2026

• UP-RERA has started an online complaint facility for homebuyers facing excessive transfer charges during property transfers.
• Complaints can now be filed digitally through Form-M on the authority’s e-court portal.
• The move follows the 10th amendment to UP-RERA General Regulations, 2019, which fixed limits on transfer processing fees.
• Developers cannot charge more than INR 1,000 for transfers among family members or legal heirs and INR 25,000 for non-family transfers.
• The authority introduced the mechanism after receiving several complaints about builders demanding very high transfer charges in housing projects.Read more