MCD imposes 1% monthly interest on government property tax dues
Author : 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....
MahaRERA makes disclosure of developers bank account mandatory in recovery orders
Author : 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....
UPRERA resolves over INR 570 crore worth of property disputes through conciliation forum
Author : 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....
Bombay High Court affirms residents' rights over corporate interests in redevelopment
Author : 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....
State government approves CIDCO's redevelopment policy for NAINA
Author : 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....
Bombay HC mandates NMMC to demolish illegal buildings on CIDCO land
Author : 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....
Ahmedabad civic body to implement revised jantri rates for temporary lease plots
Author : 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....
KRERA orders Puravankara subsidiary to pay delayed interest over apartment delivery
Author : PNT Reporter
The Karnataka Real Estate Regulatory Authority (KRERA) issued a significant order against Provident Housing, a subsidiary of Puravankara Ltd, concerning delays in delivering the Provident Noera apartment complex in Yelahanka, north Bengaluru. The ruling addressed the challenges faced by homebuyers due to prolonged project delays, highlighting the plight of Dasari Naresh, who has been paying EMIs without possession since 2019. KRERA invoked Section 18 of the RERA Act, holding Provident Housing responsible for compensating Naresh for financial losses. Amidst high home loan interest rates, ranging between 8-15 percent, KRERA's intervention underscores regulatory oversight's crucial role in safeguarding homebuyers' interests and fostering transparency in India's real estate sector....
Gujarat High Court greenlights Shilpalaya Co-operative Housing Society redevelopment
Author : PNT Reporter
The Gujarat High Court has intervened in the redevelopment saga of the Shilpalaya Co-operative Housing Society in Vasa, Ahmedabad. With buildings dating back to the mid-1980s and severely damaged, a majority decision for redevelopment was hindered by objections from just five of the 228 members. The High Court ruled in favor of progress, directing the dissenters to vacate their flats within eight weeks to pave the way for the proposed redevelopment plan. The court emphasized the urgent need for redevelopment and highlighted benefits including larger flats, financial incentives, and enhanced safety measures for residents....
Bombay High Court demands action as KDMC reports 4,570 illegal structures in Kalyan-Dombivali
Author : PNT Reporter
The Kalyan Dombivali Municipal Corporation (KDMC) informed the Bombay High Court of 4,570 unlawful structures within its jurisdiction, prompting necessary action against occupants. Measures proposed by the Municipal Commissioner were deemed crucial, with the HC directing local police to address encroachments seriously. Additionally, authorities assigned electricity distribution firms the responsibility of collaborating to eliminate unauthorised construction and prevent future encroachments. Advocates presented affidavits detailing the survey's findings and outlined legal actions under relevant acts. The court scheduled further proceedings for July 8, awaiting responses from concerned parties....
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