PNT Reporter

13 Apr 2023

The Bombay High Court has ruled that the Indian state of Maharashtra cannot charge a premium on the entire freehold land of a property owner in order to lift development restrictions but can only do so on surplus vacant land under the repealed Urban Land (Ceiling and Regulation) Act. The court's decision came after a landowner filed a petition after the state sought a premium on almost one acre, he was permitted to hold under ULCA.Read more

PNT Reporter

13 Apr 2023

The Orissa High Court has issued notices to the Odisha Real Estate Regulatory Authority (ORERA) over a petition challenging a ten-fold hike in real estate project registration fees, calling it "exorbitant, unreasonable, and arbitrary." The Confederation of Real Estate Developers Associations of India - Odisha and a builder filed the petition seeking the quashing of the notification, which increased the fee from INR 10 per square metre to INR 100/sqm. The bench has posted the matter to July 20 for further consideration along with replies from ORERA.Read more

PNT Reporter

13 Apr 2023

Himachal Pradesh has amended the Himachal Pradesh Ceiling on Land Holdings Act of 1972 to promote gender equality in landholding, allowing adult daughters to have a separate independent unit of up to 150 bighas of land. The amendment aims to ensure that families with daughters have equal rights in land ownership, removing the unconstitutional clause that promotes gender inequality. This decision will have a long-lasting impact on the socio-economic development of women in the state and will pave the way for a more equitable and just society.Read more

PNT Reporter

13 Apr 2023

The Kolhapur Municipal Corporation (KMC) has given a six-month extension to the deadline for submitting proposals to regularize unapproved constructions on gunthewari plots. This extension is the last chance for the owners to legalize their properties, or risk losing them. The KMC charges three times the property tax rates for these constructions, and once they are regularized, the property tax will be charged as per the normal rates. This policy aims to bring unapproved constructions under regulation and improve urban planning and management in Maharashtra.Read more

PNT Reporter

13 Apr 2023

The Indore Development Authority (IDA) has initiated a campaign to aid in the transition of approximately 10,000 properties from leasehold to freehold. This effort is expected to generate revenue of at least Rs 250 crore. During a five-day event held from March 20-24 this year, 169 properties were successfully converted, resulting in a revenue of Rs 3.68 crore for the IDA while also assisting property owners.Read more

PNT Reporter

12 Apr 2023

According to several realtors and property data companies, demand for properties from Chinese nationals has seen a recent upsurge in countries such as Singapore, Australia, and Thailand. Many of the current property buyers are investors who need moving their money overseas. Experts are attributing the outflow of capital to the current vulnerability of the real estate market, the Chinese government’s taxation regulations, as well as its negative attitude towards wealth accumulation.Read more

PNT Reporter

12 Apr 2023

Nine people, including the Chairman, Managing Director, and four directors of Omaxe Ltd, have been booked for cheating on the complaint of Deepak Bhati, who had booked a shop at the Omaxe Connaught Place Mall in Greater Noida in 2017 but has not received its possession even after six years. Bhati had paid over Rs 26 lakh to the developer and was assured of possession within two years. However, upon filling an RTI query, he found out that the Greater Noida Authority had not approved nearly 170 of the proposed 1,000 shops, including the one he had booked. Bhati then approached the district court, which ordered the FIR against the accused.Read more

PNT Reporter

12 Apr 2023

The Nagpur District Consumer Disputes Redressal Commission directed Sunil Fating, the builder of Infra Estate Builders and Land Developers, to refund Rs 15.6 lakh to two senior citizens, Ashok Ingole and Seem Thakre, who had purchased plots from him in November 2014. The plots were supposed to be registered in their names by January 2016, but the builder cancelled the deal due to a dispute with the original landowner. The commission also slapped a fine of Rs 50,000 on Fating for physical and mental harassment and directed him to pay 720,000 towards litigation charges to the complainants.Read more

PNT Reporter

11 Apr 2023

The Thane Additional District Consumer Dispute Redressal Commission has ruled in favour of a Navi Mumbai resident who filed a complaint against Prathamesh Construction for the delay in the possession of a flat. The commission has directed the builder to refund Rs 48 lakh to the home buyer along with an interest rate of 12% on the sum, including stamp duty and registration charges. The commission has also ordered the builder to pay compensation of Rs 2 lakh for deficiency in service and unfair trade practices.Read more

PNT Reporter

11 Apr 2023

The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has reported that it received over 48,500 complaints in the last five years, with nearly 60 percent of them coming from Gautam Buddh Nagar and 17 percent from Lucknow. The regulator was able to resolve 88.61 percent of the complaints received, totalling 42,980. Gautam Buddh Nagar, which includes Noida and Greater Noida, had the most complaints at 28,859, followed by Lucknow with 8,654, and Ghaziabad with 6,500 complaints.Read more