16 Oct 2024

The Enforcement Directorate (ED) has attached assets worth INR 1,003 crore, including over 100 acres of industrial land, as part of its investigation into the Dnyanradha Multistate Co-operative Credit Society Ltd. The case, led by Suresh Kute and others, involves alleged embezzlement of INR 2,318.45 crore. Earlier, assets worth INR 86 crore were also seized. The ED's findings reveal that society funds were fraudulently diverted as loans to companies within The Kute Group, owned by Suresh and Archana Kute. Investors were promised high returns but many were defrauded, prompting calls for stronger regulations in the co-operative credit sector.Read more

16 Oct 2024

The Bombay High Court has ruled that a tenant company, Mather and Platt (India), cannot reclaim protections under the Maharashtra Rent Control (MRC) Act, 1999, after voluntarily reducing its paid-up capital below the INR 1 crore threshold. The court rejected the company's claim of financial hardship due to reorganization, stating it remains a "cash-rich entity" capable of paying market rent. The case involved eviction from Hamilton House, Ballard Estate, with the court affirming that once rent control protections are forfeited due to exceeding capital limits, they cannot be restored. This decision sets a precedent for similar landlord-tenant disputes under the MRC Act.Read more

16 Oct 2024

The Bruhat Bengaluru Mahanagara Palike (BBMP) recently rejected nearly 2,000 building plan approval applications following an order mandating local planning authority approval for single plot or layout developments. This directive impacts property owners, particularly in zones like Bommanahalli and Mahadevapura, where over 60% lack necessary approvals. Engineers have urged the BBMP to reconsider the order, fearing it may hinder tax collection and complicate property transactions, especially for those with A-khata status.Read more

16 Oct 2024

The Goa government has extended its tenant verification drive by five days to identify residents living without proper documentation. Launched on October 1 and originally ending on October 10, this initiative aims to prevent criminal activities linked to rented properties. Chief Minister Pramod Sawant highlighted the importance of this verification, especially following incidents of serious crimes involving migrants. The initiative intends to bolster the security of both residents and visitors. Sawant urged landlords to submit tenant documents, ensuring compliance to avoid fines. The Goa Verification of Tenants Act is designed to maintain public order and enhance safety for all.Read more

15 Oct 2024

The Bangalore Development Authority (BDA) has intensified its anti-encroachment efforts, seizing properties worth around INR 460 crore in Nagarabhavi, west Bengaluru. On September 29, land in survey numbers 78 and 129 was reclaimed from illegal occupants who had established commercial operations. This operation led to the demolition of over 40 unauthorised shops and the recovery of six acres valued at INR 430 crore. The BDA also removed illegal structures from Kaggadasapura lake, securing INR 2 crore worth of land for future protection against encroachments.Read more

15 Oct 2024

The Madhya Pradesh government has embarked on a statewide survey of kutcha (temporary) houses to identify new beneficiaries under the Pradhan Mantri Awas Yojana-Gramin (PMAY-G). The survey, to be completed within six months, aims to ensure that no intended beneficiary is left out of the scheme, which provides pucca (all-weather) houses to those living in kutcha dwelling units. The government has also relaxed the PMAY-G eligibility criteria, allowing those with bikes or scooters and those earning up to INR 15,000 per month to be included as beneficiaries. Additionally, the government has launched the Awas Sakhi mobile app and inaugurated community-managed training centers to support the scheme's implementation. With a substantial investment of INR 3.06 lakh crore to build 30 million houses over the next five years, the government is committed to addressing the housing needs of rural communities.Read more

15 Oct 2024

Last week, the Bombay High Court demanded a response from the Additional Chief Secretary or Principal Secretary of the state Urban Development Department (UDD) regarding the minimum time required to enforce fire safety regulations for buildings at risk. The court criticised the state government for failing to meet deadlines for issuing final notifications. It issued a warning that if the proper procedures are not followed, it may pass an order halting all development approvals granted by various planning authorities and corporations, at least within the city of Mumbai, during the next hearing.Read more

15 Oct 2024

The Lucknow Development Authority (LDA) has streamlined its property mutation process to address delays and meet the 60-day completion mandate. Key changes include allowing the property section to verify online fee payments directly, assigning specific responsibilities to officials and implementing a more efficient workflow. The new system involves rapid assignment of applications, timely reviews by planning assistants, and quicker decision-making by property officers. For inheritance cases, a streamlined publication and review process has been established. These improvements aim to reduce processing times, enhance efficiency and provide better service to property owners acquiring residential or commercial properties in LDA schemes.Read more

15 Oct 2024

The Maharashtra Housing and Area Development Authority (MHADA) plans to construct around 20,000 houses in the Mumbai, Konkan, and Pune regions within the next nine months, with nearly 12,000 units to be announced soon. Recently, MHADA sold 2,030 homes in Mumbai, attracting 134,350 applications. The housing minister highlighted plans for further sales in the Konkan region and additional units in Pune after the assembly elections, emphasising affordable housing initiatives like the Pradhan Mantri Awas Yojana (PMAY).Read more

14 Oct 2024

Pernem Police have charged five individuals, including residents from Delhi, Ghaziabad, and Faridabad, with forging a board resolution of Eco Promoters Pvt Ltd to facilitate the sale of seven flats at Agarwada-Chopdem. Inspector Sachin Lokre stated that the accused conspired to create fraudulent documents and forged signatures of the company's directors, presenting them as genuine at the sub-registrar's office in Pernem. The complaint was lodged by Harish Arora on behalf of Eco Promoters Pvt Ltd, highlighting ongoing concerns regarding property fraud and the manipulation of legal documents in real estate transactions.Read more