Law & Policy

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Noida Authority reclaims 18 acres of land valued at INR 308 crore from land mafias in the region

Author : PNT Bureau

Noida Authority's extensive crackdown targeted land mafias across various sectors and villages, particularly along the Noida Expressway, where encroachments on government land were rampant. Notorious for attempting to swindle unsuspecting buyers, these mafias had encroached upon areas like Sorkha Zahidabad, Salarpur, Asadullapur, Mohiyapur, Sadarpur, Mamura, Garhi Samastipur, Gulawali, and Salarpur Khadar. The authority's anti-encroachment drive aimed to reclaim control over these illegally occupied lands, freeing up approximately 18 acres valued at INR 308 crore.Encroachments were notably cleared from Sorkha Zahidabad and Salarpur, with a combined value exceeding INR 195 crore....

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Homebuyers in Noida and Greater Noida launch "No Registry, No Vote" campaign ahead of Lok Sabha elections

Author : PNT Bureau

Homebuyers and residents in Noida and Greater Noida West are launching a "No Registry, No Vote" campaign ahead of the 2024 Lok Sabha elections to protest pending registries. Frustrated by years of unfulfilled promises, they refuse to cast votes or choose NOTA until their demands are met. With over 1.15 lakh stalled flats awaiting resolution, residents demand expedited action from authorities. Despite government directives, the situation remains unresolved, leaving buyers in limbo. The campaign serves as a powerful reminder of the importance of addressing systemic issues impacting citizens' lives, urging politicians to heed their voices and take meaningful action....

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Punjab and Haryana High Court upholds parent's right to seek eviction of son from property

Author : PNT Bureau

The Punjab and Haryana High Court has ruled that paying maintenance to elderly parents does not prevent them from seeking eviction of their children from occupied property. In a case filed by 90-year-old Gurdev Kaur, the court ordered her son, a government employee, to vacate her house. Despite paying maintenance, he refused to relinquish possession. The court emphasized that accepting maintenance does not prevent eviction. The ruling underscores the Maintenance and Welfare of Parents and Senior Citizens Act's aim to protect elderly rights. It prevents the misuse of maintenance payments and ensures vulnerable senior citizens' welfare, setting a precedent for similar cases....

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Committee formed to resolve debris dumping issue in Aarey Colony

Author : PNT Bureau

After months of bureaucratic back-and-forth between the BMC and Aarey Milk Colony over clearing debris dumped along Mithi River's banks in Aarey, the National Green Tribunal (NGT) has intervened. The NGT has ordered for the formation of a committee, led by Maharashtra's chief secretary, to determine responsibility, relocation of debris, and funding. With BMC, MPCB, Aarey Milk Colony, and environmental experts onboard, the committee has a month to devise an action plan as monsoon approaches. The directive stems from Vanashakti's petition, highlighting environmental hazards. Urgent action is imperative before monsoon exacerbates the damage, underscoring the committee's crucial role in prioritizing ecological preservation....

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ITAT provides relief to DLF Urban in land valuation dispute

Author : PNT Bureau

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) rejected an additional INR 328 crore tax demand against DLF Urban Pvt Ltd. DLF Urban had acquired land development rights from its parent company. The transaction was valued at INR 925 crore by real estate firm Cushman & Wakefield. However, the tax authorities felt the valuation was too high compared to the circle rates and imposed the additional tax. The ITAT overruled this and accepted Cushman & Wakefield's independent market valuation as a fair assessment of the transaction between related parties....

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MahaRERA orders L&T Realty to refund deposit to NRI homebuyer

Author : PNT Bureau

MahaRERA has directed L&T Realty to refund the deposit amount paid by an NRI homebuyer from Abu Dhabi. The buyer had booked a flat in L&T's Emerald Isle - T10 project located at Kurla in Mumbai by paying INR 25 lakhs as 10.5% of the total cost of INR 2.29 crore. However, the transaction could not be completed after the bank subvention scheme was discontinued, leaving the buyer unable to pay further amounts. L&T cancelled the booking and offered to refund INR 17 lakhs after deducting over INR 8 lakhs. But MahaRERA ruled that L&T can only deduct 2% of the flats value from the deposit amount, maintaining consistency with its earlier order involving Godrej Properties....

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NCLT issues resolution for insolvency proceedings against Mumbai Metro One Private Limited

Author : PNT Bureau

The National Company Law Tribunal (NCLT) bench in Mumbai resolved the corporate insolvency proceedings against Mumbai Metro One Private Limited, which operates Mumbai's busiest metro line. This resolution followed a one-time debt settlement between the company and its lenders led by State Bank of India and IDBI Bank. The resolution could enable the Maharashtra government to acquire Reliance Infrastructure's majority stake in MMOPL. The Maharashtra cabinet had recently cleared a sum of INR 4000 crore for purchasing this majority stake....

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Supreme Court to examine validity of INR. 33,000 crore tax claim on Jaypee Infratech

Author : PNT Bureau

The Supreme Court will examine the validity of the Income Tax department's assessment of INR 33,000 crore in disputed taxes on Jaypee Infratech Ltd. (JIL). JIL has been going through insolvency proceedings since 2017 over its stalled housing projects that have left over 22,000 homebuyers without homes. In 2023, the National Company Law Tribunal approved a resolution plan by Suraksha Group to acquire JIL assets and complete projects. However, the Tax department notified the tax claim in August 2023, jeopardizing the resolution process. The Court will review the assessment order to help resolve issues stalling project completion for homebuyers even after years of litigation....

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Delhi-RERA Chairman warns developers of risks from non-paying investors

Author : PNT Bureau

Delhi-RERA Chairman Anand Kumar urges real estate developers to report delinquent customers to regulatory authorities, cautioning against the risk of investors defaulting on payments. Kumar highlighted the detrimental impact on project cash flow and warned of potential project stalls. He advocates for proactive measures, advising developers to approach RERA at the first sign of payment issues to prevent disputes. Emphasizing the significance of RERA provisions, Kumar underscored the authority's role in resolving conflicts and facilitating project progression. Issues such as the shortage of skilled workers and the necessity for expansion into non-metro areas were also discussed, echoing industry experts' insights on the sector's growth trajectory....

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KMC proposes stricter penalties for developers of unlawful properties

Author : PNT Bureau

The Kolkata Municipal Corporation (KMC) is looking to introduce amendments to the KMC Act to impose stricter penalties on unlawful property developers, including making certain offenses non-bailable and punishable by up to 10 years in jail and fines up to INR 50,000. The KMC Mayor recently met with municipal officials to discuss the amendments. Once approved by the KMC House, the amendments would be sent to the state government for final approval. The proposed changes aim to deter unscrupulous promoters by clarifying the ambit of legal construction activities and introducing longer jail terms....