07 May 2026

National Company Law Appellate Tribunal has set aside an earlier order of the National Company Law Tribunal that admitted insolvency proceedings against Embassy Development, ruling that the application filed by Canara Bank was barred under Section 10A of the Insolvency and Bankruptcy Code (IBC). The tribunal held that the alleged default fell within the protected period introduced during the COVID-19 disruption, during which fresh insolvency proceedings were restricted. The case relates to a INR 200 crore claim linked to a corporate guarantee extended for a loan to Indiabulls Realtech. The appellate tribunal also criticised the lender’s approach, observing procedural lapses in filing the insolvency plea.Read more

07 May 2026

Mumbai has initiated its first fully digital Census exercise, assigning a unique ID to each household to streamline data collection. Conducted by the Brihanmumbai Municipal Corporation, the process uses mobile-based enumeration and also allows residents to self-enumerate. The exercise was delayed from its earlier schedule due to the pandemic. The first phase focuses on housing conditions and basic amenities, while the second phase, scheduled for February–March 2027, will capture population data. Officials expect the digital approach to improve accuracy, reduce duplication, and support better urban planning.Read more

07 May 2026

The Greater Chennai Corporation has introduced QR code-based payment options to maintain property tax collections during the election period, when many staff members are on poll duty. The initiative allows residents to pay dues digitally by scanning QR codes available on official platforms. With a collection target of around INR 900 crore for the current cycle, the civic body has already mobilised over INR 500 crore through online channels. The move is aimed at improving convenience, ensuring continuity in collections, and supporting recovery of pending dues without relying fully on physical collection systems.Read more

07 May 2026

Eligibility for upper-floor residents under the Dharavi Redevelopment Project (DRP) has been made conditional on documentation strength and, in certain cases, the eligibility of ground-floor occupants. As per a government resolution issued earlier, residents who can establish occupancy before a November 2022 cut-off may qualify for 300 sq ft rehabilitation units outside Dharavi within the Mumbai Metropolitan Region. The policy introduces a hierarchy of documents, with affidavits placed at the lowest level and accepted only if supported by an eligible ground-floor household. The framework also restricts benefits to one dwelling per family and excludes applicants owning property under other housing schemes, marking a departure from earlier slum rehabilitation norms.Read more

07 May 2026

The Dehradun administration has cancelled registrations of 17 homestays after inspections found multiple violations of Uttarakhand’s homestay rules. The action followed complaints about misuse of residential properties for commercial purposes and activities affecting public order. Authorities identified issues such as lack of fire safety systems, missing licences, improper guest record maintenance, and illegal leasing to third parties. Several units were also found operating beyond permitted capacity or without valid approvals. The administration has started removing these listings from official platforms and indicated that further checks will continue.Read more

07 May 2026

Nitin Gadkari reviewed a series of proposed national highway developments in Maharashtra during a meeting held in New Delhi. The review covered high-speed and high-density corridors, along with multiple expansion projects across key stretches. Discussions also included nine Build-Operate-Transfer (BOT) projects spanning 527 km. The focus remained on accelerating execution and improving connectivity across regions such as Nagpur, Gadchiroli, and Chhatrapati Sambhajinagar, with the aim of supporting regional economic activity and strengthening transport infrastructure.Read more

06 May 2026

The Haryana State Vigilance and Anti-Corruption Bureau (ACB) has initiated an extensive investigation into around 2,600 illegal colonies developed across the state in violation of planning regulations. The probe, directed by the Punjab and Haryana High Court, covers unauthorised residential, commercial, and industrial developments constructed without approvals from town planning and civic authorities. Officials from multiple departments, including Town and Country Planning and Urban Local Bodies, are under scrutiny for alleged collusion. The investigation, supported by land records and technical inputs, is in advanced stages, with administrative and penal action likely against those found responsible. The development highlights persistent challenges around unauthorised urban expansion and regulatory enforcement in Haryana’s real estate landscape.Read more

Mumbai News Desk

06 May 2026

The Bombay High Court has directed the Maharashtra government to refund INR 3 lakh in stamp duty to a homebuyer, holding that the amount was wrongly retained due to a procedural delay. The case relates to an incorrect stamp duty payment made during a property transaction, where the buyer selected the wrong category while purchasing e-stamps. Authorities had rejected the refund request citing a delay beyond the statutory six-month period. However, the court ruled that such technical grounds could not override a legitimate claim, particularly when the stamp was unused. The judgment reinforces judicial scrutiny over administrative decisions impacting homebuyers in property transactions.Read more

06 May 2026

The Securities and Exchange Board of India (Sebi) has imposed a penalty of INR 10 lakh on Axis Trustee Services Ltd for disclosure delays and governance lapses related to Embassy Office Parks REIT. The action follows a National Financial Reporting Authority (NFRA) order against the REIT manager’s former chief executive, which was not disclosed to unitholders for over 50 days despite being considered material information. Sebi observed that the trustee failed to act promptly and did not independently assess the ‘fit and proper person’ status of the executive as directed. Embassy Office Parks REIT, India’s first listed REIT, is managed by Embassy Office Parks Management Services Pvt Ltd and sponsored by Embassy Group and Blackstone. The regulator has emphasised the trustee’s responsibility in ensuring timely disclosures and compliance.Read more

06 May 2026

The Goa forest department has designated approximately 6.27 crore square metres of land along the Mandovi and Zuari rivers as ecologically sensitive, effectively restricting construction and commercial activity in these areas. The decision, communicated to the Town and Country Planning (TCP) department in the past week, follows directives issued by the state’s forest minister. Covering about 6,729.54 hectares across riverbanks, the classification requires the TCP department to enforce provisions under the Town and Country Planning Act. The move introduces regulatory constraints on development across key waterfront stretches, with implications for real estate activity and land use planning in the state.Read more