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Calcutta High Court orders sealing of 10 buildings by 2 pm today, ET RealEstate

The Calcutta High Court has directed the Kolkata Municipal Corporation (KMC) to seal 10 new or upcoming constructions in the city by 2 pm on Saturday. The constructions are alleged to be illegal and have been made on thika tenancy land, Wakf land, and enemy property. The court has also ordered an investigation into the alleged assault on officers of the custodian of the enemy property.
West Bengal Ashoke Kumar Chakraborty Justice Ts Sivagnanam Justice Hiranmay Bhattacharyya Calcutta High Court Representative Image

Tax not paid, MC seals 5 commercial properties in Chandigarh, Real Estate News, ET RealEstate

Tax not paid, MC seals 5 commercial properties in Chandigarh. The sealing exercise was carried out after tax defaulters did not clear dues even after getting recovery notices and sealing notices. More properties which owe tax have been identified and action will be taken against them too. Income from property tax is one of the biggest sources of revenue for the Municipal Corporation.
Makhan Ram Municipal Corporation Representative Image Chandigarh Administration Makhan Ram Ive Commercial Properties Sealed In Burail

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Prevent Flouting of RERA Norms in Land Deals: Orissa High Court, ET RealEstate

The Orissa high court has called for preventing land deals without registering with Odisha Real Estate Regulatory Authority (ORERA). Strict implementation of Section 3 of RERA will pave the way for bringing transparency in land deals and subdue the domination of brokers.
Justice Chakradhari Sharan Singh Justice Sangam Kumar Sahoo Odisha Real Estate Regulatory Authority Real Estate Regulation Development Representative Image Real Estate

Housing projects delayed by years, builders told to file status reports, ET RealEstate

The department of town and country planning (DTCP) has issued directions to developers of 50 affordable housing projects to submit status report of their projects by February 26. DTCP has called around 20 developers to the senior town planner (STP) office on March 1 to review the construction of these projects.
Manish Yadav Renuka Singh Representative Image Department Of Town And Country Planning Senior Town Planner Manish Yadav

PAG Asia to invest Rs 400 crore in M3M India's bonds, Real Estate News, ET RealEstate

PAG Asia: PAGs Asia Pragati Strategic Investment Fund will invest in Lavish Buildmart, a 100% subsidiary of M3M India the real estate developer whose promoters were questioned by the Enforcement Directorate last year for unauthorised transactions with the IREO group.
Roop Kumar Bansal Basant Bansal Pankaj Bansal Union Buildmart Asia Pragati Strategic Investment Fund Representative Image

NBCC to develop 13,500 new flats in five ongoing projects of Amrapali in Greater Noida, ET RealEstate

As per the direction of the Supreme Court, Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE) was formed to complete the stuck projects of Amrapali through NBCC (India) Ltd.
Supreme Court Greater Noida Industrial Development Authority India Ltd Court Receiver Senior Advocate Of The Supreme Court Real Estate Development

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