15 May 2026

The Central Bureau of Investigation has filed its seventh chargesheet in the ongoing builder-banker nexus investigation against Sequel Buildcon Pvt Ltd and its directors linked to the ‘The Belvedere’ project in Noida.
The agency alleged that homebuyers were misled through false assurances while funds collected from buyers and financial institutions were allegedly diverted.
Buyers reportedly neither received possession of flats nor refunds despite long delays in the project.
The case is part of a larger Supreme Court-monitored investigation into stalled NCR housing projects and alleged irregularities involving developers and housing finance institutions.Read more

15 May 2026

• The Maharashtra government is drafting a new Land Titling Act that proposes mandatory property cards for all land parcels across the state, including official valuation details.
• Revenue Minister Chandrashekhar Bawankule stated that the proposed legislation is expected to be finalised by July and introduced during the upcoming monsoon session of the state legislature.
• The initiative aims to create a uniform and legally recognised ownership documentation system covering both urban and rural properties across Maharashtra.
• The proposed framework will supplement existing land records such as property cards and 7/12 extracts while also supporting the rollout of vertical property cards for apartment ownership documentation.
• The reform is intended to improve title clarity, reduce disputes, simplify property transactions, and strengthen transparency in the state’s real estate ecosystem.Read more

15 May 2026

• Goa’s Town and Country Planning (TCP) department has initiated review of fresh land conversion proposals covering more than 25,000 sqm across Bardez, Pernem, Salcete, and Bicholim under Section 39A of the TCP Act.
• The proposed changes involve conversion of land currently classified as natural cover, orchard land, and no-development-slope zones into settlement areas.
• The largest proposal has been submitted by KGL Realtors Pvt Ltd for conversion of 18,733 sqm at Salvador do Mundo in Bardez from natural cover to settlement zone.
• Additional applications linked to IRAP Infra LLP seek conversion of nearly 9,750 sqm in Morjim, Pernem, including portions categorised under orchard and no-development-slope areas.
• The proposals, approved by the TCP board for public review, are open for objections and suggestions for 30 days before further regulatory consideration.Read more

15 May 2026

• The Bombay High Court has dismissed an application filed by 52 tenants seeking to add a new developer to an ongoing redevelopment dispute involving Kamla Bhuvan in Ghatkopar West, Mumbai.
• The court also imposed costs of INR 5 lakh on the tenants, observing that the application appeared to be an attempt to pressure landlords through litigation despite the absence of a contractual agreement with the proposed developer.
• The redevelopment matter relates to a dilapidated building on LBS Marg that was demolished in 2018 after being declared unsafe.
• The tenants had argued that prolonged delays in the project and concerns over permanent rehabilitation prompted their request to include the new developer, BS Lifespace, in the proceedings.
• The ruling comes amid broader concerns over delays in Mumbai’s cessed building redevelopment projects, transit housing shortages, and prolonged legal disputes affecting redevelopment execution across the city.Read more

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