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Auctions under ‘SARFAESI Act’ and the need of fairness?

Written on 4 Oct, 2011 at 11:51 in Others | viewed 15 times | 0 Comments

It may be true that Banks do face numerous difficulties in recovering the dues despite having ‘security’. But, there can not be any difficulty for the Banks in recovering their dues under SARFAESI Act, 2002. It is alleged that... (Continue reading)

Penalty can not be imposed without adjudication by any authority – SC

Written on 6 Sep, 2011 at 12:19 in Others, Real Estate News | viewed 3 times | 0 Comments

Kesar Enterprises Ltd.V. State of U.P. & Ors. (SC)- In the present case, before imposing the impugned demand of penalty and interest, there was absolutely no adjudication by any authority as regards the breach committed by the appellant, except the... (Continue reading)

Amendments to the Enemy Property Act, 1968

Written on 21 Oct, 2010 at 11:49 in Others, Real Estate News | viewed 3 times | 0 Comments

The Union Cabinet today approved the proposal of Ministry of Home Affairs to introduce the Enemy Property (Amendment and Validation) Second Bill, 2010 to make amendments to the Enemy Property Act, 1968. The amendments, among other things, provide for the... (Continue reading)

Details of Title deeds of the properties in Maharashtra to be online soon

Written on 13 Aug, 2010 at 12:58 in Legal, Others, Property Rates | viewed 18 times | 1 Comment

Registration and Stamps department across Maharashtra plans to put the details and records of the title deeds and documents of all the registered commercial and residential properties, now online, for the convenience of the citizens. The State Chief information Commissioner... (Continue reading)

For a redevelopment, approval of 70% tenants is binding upon the other members,

Written on 11 Aug, 2010 at 12:58 in Legal, Others | viewed 21 times | 1 Comment

In a recent ruling, the Bombay High Court has stated that the issue of minority of tenants can not be an obstacle for redeveloping a property if minimum 70% of the tenants are ready for the same. The judgement came against... (Continue reading)

Recent Development in Service Tax and VAT in Real Estate

Written on 10 Jun, 2010 at 14:14 in Income Tax, Others, Real Estate News | viewed 849 times | 36 Comments
Recent Development in Service Tax and VAT in Real Estate

By Kantilal Jain, FCA In the budget for 2010 both Central and State Governments have made certain amendments to levy tax on sale of immovable property under construction to enhance their revenue and to overcome certain judicial pronouncements. An attempt is... (Continue reading)

High Court thwarts petition against Vile Parle skywalk

Written on 28 Dec, 2009 at 15:29 in Current Affairs, Legal, Others, Real Estate News | viewed 30 times | 0 Comments
High Court thwarts petition against Vile Parle skywalk

The Bombay High Court has recently rejected the petition filed by Vileparle Vyapari and Residents Association to oppose construction of skywalk at D.J.Road, Vile Parle-W. The Division Bench, consisting of Honourable Judges Ranjana Desai and Mridula Bhatkar, observed that, “Skyway... (Continue reading)

Multiple Registration of Property Documents

Written on 14 Dec, 2009 at 14:49 in Legal, Others | viewed 91 times | 1 Comment
Multiple Registration of Property Documents

A single property is registered numerous times to avail of finance. A dissertation of these practices sheds light into this malpractice.... (Continue reading)

Foreign nationals can keep 100% of Post-Tax Salaries

Written on 14 Dec, 2009 at 13:48 in Legal, Others | viewed 28 times | 0 Comments

Foreign nationals working in India can now take their entire post-tax salaries home, following a change in rules to this effect by the Reserve Bank of India (RBI). This will benefit sectors such as aviation, telecom and infrastructure, which employ... (Continue reading)

Auction of Non-Existent Flats

Written on 4 Dec, 2009 at 14:43 in Features, Legal, Others, Real Estate News | viewed 63 times | 1 Comment

By SR Agarwal, Advocate Whenever loans are granted by the banks and housing finance companies, hereinafter referred to as the financial institutions, the flats and the apartments are mortgaged to them, mostly, by way of equitable mortgage and in a... (Continue reading)

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