PNT Reporter

18 Apr 2023

The Tamil Nadu Urban Habitat Development Board (TNUHDB) plans to construct affordable high-rise housing towers for economically weaker sections and low-income groups near the upcoming Integrated Bus Terminus in Panjapur, Trichy. The board has requested 15 acres of land for the project and has completed a comprehensive design plan for basic amenities. The housing project will be the third high-rise project for TNUHDB in Trichy. Two other high-rise projects in Srirangam and Jailpettai are almost complete. The project is under consideration by the district administration.Read more

PNT Reporter

18 Apr 2023

The LIFE Mission’s housing project on the Greater Cochin Development Authority’s (GCDA) terrain, launched four years earlier in 2018, to rehabilitate P&T Colony residents has reached its final stage. Although the court mandated date of April 26 to shift residents is likely to be missed, officials are positive residents will receive possession before the May 31. According to sources, the inauguration of the building was to have been part of the chief minister’s 100-day programme.Read more

PNT Reporter

17 Apr 2023

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has identified forty-one developers who failed to attend a review meeting and will now face penalties, including the freezing of their bank accounts and a ban on new project registration. These penalties are designed to encourage compliance with the RERA Act and ensure the interests of all stakeholders, including promoters and buyers, are protected. UP RERA is committed to making the real estate sector in Uttar Pradesh transparent, accountable, and fairRead more

PNT Reporter

17 Apr 2023

The Bombay High Court has dismissed a petition by a federation of housing societies in Kharghar Node challenging an "illegal retrospective property tax'' demand from 2016 to 2021-22 by the Panvel Municipal Corporation (PMC). The court stated that the federation could appeal the tax demand under the Maharashtra Municipal Corporation Act. The court noted that entertaining the plea would open floodgates of litigation before the court and that the PMC cannot be placed in a cloud of uncertainty when it comes to levy and recovery of civic taxes.Read more

PNT Reporter

17 Apr 2023

A recent ruling by the Appellate Authority for Advance Rulings (AAAR) has held that charges for several services collected by the developer, Puranik Builders, are "inextricably linked" to the primary service of construction and will be subject to GST at the lower rate of 12%. The ruling could result in reduced costs for buyers of under-construction properties. While the ruling does not set a judicial precedent, it will have a persuasive effect in similar cases.Read more

PNT Reporter

17 Apr 2023

The National Company Law Appellate Tribunal (NCLAT) has overturned an earlier decision by the National Company Law Tribunal (NCLT) to reject a plea for insolvency proceedings against Ansal Housing, calling it a "fit case" for admission. The NCLAT directed Ansal Housing to pay Rs 12.72 lakh to Clicbrics Technologies within 30 days of the order's release, and in case the creditor refuses the sum, the Section 9 petition will be deemed to be dismissed.Read more

PNT Reporter

14 Apr 2023

The Bombay High Court has ruled that tenants cannot dictate the nature of redevelopment to the owner and have limited rights in this regard. The decision was made in a case involving a Khar building where an "obstinate tenant" had been holding up redevelopment. The court directed the BMC to issue a commencement certificate for redevelopment and stated that tenants only have the right to be provided with an alternative accommodation of an equivalent area occupied by them before the building was demolished. The ruling is expected to pave the way for future redevelopment projects.Read more

PNT Reporter

14 Apr 2023

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued notices to around 16,000 real estate developers in the state for failing to provide satisfactory updates on their projects as required by law. These developers had already been given 30 days to update their information and fix any deficiencies, but around 16,000 of them failed to respond or submitted unsatisfactory responses. MahaRERA has stated that it will take action against those who do not respond to the notices within 15 days, as required by law.Read more

PNT Reporter

14 Apr 2023

The Real Estate Regulatory Authority (RERA) in Bihar has taken possession of 27 katha of land belonging to Agrani Homes in Patna. Agrani Homes failed to honour its obligations to property buyers and breached RERA regulations, leading to the confiscation. The RERA authorities placed a sign on the property last week to intimate the public of the same. The action has allegedly been taken based on three execution cases filed by property buyers who were affected, as per Section 40 (2) of RERA Act and Rule 26 of Bihar RERA Rules.Read more

PNT Reporter

14 Apr 2023

The Haryana cabinet has approved a one-time settlement scheme, 'Vivadon Ka Samadhan,' to assist colonizers who have defaulted on arrears of license and renewal fees. The scheme will be valid for six months and requires colonizers to deposit 100% of the outstanding principal amount against renewal fees and interest charges. Additionally, the cabinet has approved policies for phasing in licensed colonies and seeking 2/3rd consent from allottees for revisions of layout and building plans, as well as an amendment to the Policy for Planned Development of Low Density Eco-Friendly Colonies.Read more