Legal
The much-awaited Real Estate (Regulation and Development) Bill has obtained clearance from the Cabinet on 4th June. The Bill is expected to bring in transparency in the nation’s real estate sector with tighter norms for selling projects and preventing property fraud cases. This Act may be called as the Real Estate (Regulation and Development) Act, [...] Continue Reading »
New Delhi: The apex consumer commission has directed prominent realty company Unitech Ltd to reimburse approximately Rs 14 lakh towards delay in possession. The customer – a Sanjay Goyal spent the same on rent due to the delay in possession date of the flat which he had bought. Over Rs 1.37 crore was paid by [...] Continue Reading »
Hyderabad: Due to lack of coordination between the state revenue department and the DEO, the survey of the state’s defence land is getting delayed. Overview: Headed by the special commissioner – Chief Commissioner of Land Administration (CCLA) as chairperson the state government has set up a committee to resolve defence land related issues. IVR Krishna [...] Continue Reading »
At least 57 plots developed by the BDA are in a state of confusion, because the titles have been snatched from the owners. The BDA had denotified plots sizing a total of 10 acres. The land is described as ‘muffet kaval’ which means it is government owned. But after denotification, the land ownership was transferred [...] Continue Reading »
Some of the new amendments made in the Finance Bill, 2013 to the Income-tax Law is expected to have a deep impact on real estate sector in the 2013-14 fiscal. The amendments relate to taxing the notional income in the real estate transactions as against the real income of the real estate developers as well [...] Continue Reading »
Mumbai’s civic body has decided to demolish the 35 illegal floors in the seven high rises of the Campa Cola Compound. The Supreme Court has refused to regularize them and the residents have given a time of five months to vacate the premise. Only six floors were permitted but the builders had illegally constructed excessively [...] Continue Reading »
Good news for residents of group housing and private layouts! The builders will have to develop the sites allocated for the civic amenities and then have to hand over to the registered residents’ welfare association for the maintenance. The Bangalore Development Authority (BDA) have to make sure that the civic amenities sites are handed over [...] Continue Reading »
Chandigarh: The Punjab and Haryana High Court has stated that, under the Hindu Succession Act, 1956, for a Hindu widow to get the complete ownership rights of a property belonging to her husband, she need not have to be in actual physical possession of the property. The judgement was given by a division bench comprising [...] Continue Reading »
New Delhi- A Delhi court has made it clear that residents welfare associations (RWAs) managing affairs in colonies built by Delhi Development Authority have no right to impose maintenance charges from residents of those colonies. The court gave this decision during the judgement of a case, wherein a resident of DDA colony had refused to [...] Continue Reading »
The new property tax system proposed by Brihanmumbai Municipal Corporation (BMC) has been challenged by a PIL in the Bombay High Court recently. The new property tax bill will be applicable from April 1, 2013 but has been caught amidsr many controversies. An activist named Rajendra Thacker has filed the PIL which states that the [...] Continue Reading »
