Maha RERA secretary to execute Agreement for Sale on behalf of Defaulted Builder

By Rohit Sharma MUMBAI Maharashtra Real Estate Regulatory Authority (Maha RERA) recently passed a landmark order in which it directed Secretary of Maha RERA to execute and register the agreement of sale on behalf of the respondents at the cost of the complainant. On May 31, 2018, while hearing complaint B.D. Kapadnis, Adjudicating

Insightful seminar on ‘Society Redevelopment Under New DP 2034’ to be held on July 22

By Accommodation Times Bureau MUMBAI After a successful seminar on Friday conducted by Accommodation Times on ‘Landmark Judgments of RERA’, now it’s time for the seminar on ‘Society Redevelopment Under New DP 2034’. The upcoming seminar is dated July 22, 2018, at All India Institute of Local Self Govt, Andheri (W). Accommodation Times

Redevelopment of Societies not subject matter of RERA

By Dr. Sanjay Chaturvedi LLB, PhD Muralidhar Mahadeo Prabhu V/s G A Builders Pvt Ltd.( CC00600000000-12265) Order dated 15th January 2018 The Complainant in his complaint has stated that he is the member of a Co-Operative Housing Society which is taken up for redevelopment by the Respondent. He alleged that the Respondent

Cabinet approves The Benami Transaction Bill in Monsoon Session

By Accommodation Times News Service The amendment removes conflict between provisions of the IDS that provided immunity from Benami Act condition to transfer of property to actual beneficial owner. The Union Cabinet yesterday approved the Benami Transactions (Prohibition) Amendment Bill 2015 in the ongoing monsoon session of Parliament.  The Bill marks the

Rajasthan to be the first state to clear Land Title Bill

  By Accommodation Times News Service State residents living in urban areas can seek a certificate of ownership by paying nominal fees In yet another first move in the country, the Rajasthan government has managed to pass the Rajasthan Urban Land (Certification of Titles) Bills 2016 in the state assembly. Land titling is a form of land

Latest Judgements on Income Tax related matters in Redevelopment process

By Sammer Sanghvi & Co Accommodation Times News Services   SUMMARISED JUDICIAL PRONOUCEMENTS ON INCOME TAX RELATING TO REDEVELOPMENT OF PROPERTIES Finally, the judicial pronoucements on income tax relating to the subject of redevelopment of properties are summarised hereunder : 1. The Mumbai Tribunal in the case of Raj Ratan Palace Co-op. Hsg. Soc. Ltd.

Issuance of a notice under Indian Forest Act, 1927 is not sufficient for any land being declared a “private forest” : SC

By Accommodation Times News Services Supreme Court in Godrej & Boyce Mfg. Co. Ltd. & Anr case had taken negative view on question of Issuance of a notice under Indian Forest Act, 1927 is sufficient for any land being declared a "private forest". Fact of the case : IN THE SUPREME COURT OF INDIA CIVIL APPELLATE

TDR not to attract Capital Gain Tax : Bombay High Court

By Accommodation Times News Service Bombay High Court in the matter INCOME TAX APPEAL NO. 1356 OF 2012 , Commissioner of Income Tax -18 v/s Sambhaji Nagar Co­op. Hsg. Society Ltd. have observed that TDR generated under DCR by the society is not to be taxed under Capital Gain Tax. "...Thus, the conclusion of the Hon'ble Supreme Court is that an asset which is capable of acquisition at a cost would be included within the provisions pertaining to the head “Capital gains” as opposed to assets in the acquisition of which no cost at all can be conceived.  In the   present