ITAT rules tax officer cannot pin entire stamp-value gap on one co-owner

The Mumbai ITAT stated that one co-owner cannot be held accountable for the total tax discrepancy. The tribunal highlighted that the ownership shares had been explicitly recorded. The lack of action from tax authorities does not validate the taxation of just one owner’s share. Tax officers must conduct a proper review when disputing stamp-duty valuations. This ruling brings much-needed clarity to property buyers navigating valuation disputes.

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Construction of 16 stalled Supertech projects lagging, NCLAT seeks status report from NBCC

The NCLAT has called for a status report regarding the delayed projects of Supertech. Within a tight deadline of two weeks, both NBCC and the Apex Court Committee are expected to provide updates on their progress. Homebuyers have voiced their worries about the ongoing delays in the project timelines. NBCC was appointed to execute sixteen Supertech developments, yet construction has stalled for nearly twenty-one months.

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Orris Infrastructure, Godrej Properties settle Godrej Air dispute; Bombay HC orders Amit Gupta’s release

Orris Infrastructure and Godrej Properties have reached a settlement in the dispute concerning the Godrej Air project in Gurugram. The Bombay High Court has directed the unconditional release of Orris Infrastructure managing director Amit Gupta, while keeping the petition for quashing of the FIR for further consideration.

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Property deals worth ₹8,500 crore under income tax department's scanner

The Income-Tax Department is ramping up its examination of property deals worth ₹8,500 crore, focusing on unreported and undervalued transactions potentially linked to benami ownership. By reviewing data from both the current and past financial years, officials are cross-referencing PAN information with income tax returns to uncover inconsistencies. This proactive initiative is part of a broader effort to combat tax evasion using advanced data assessment techniques.

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Property registrations in Mumbai rise 11% to 12,503 units in August 2026: Knight Frank

Mumbai is projected to record 12,503 property registrations in August 2026, the highest for the month in 14 years, according to Knight Frank India. Stamp duty collections are expected to rise 12% year-on-year to ₹1,123 crore.

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Delhi government notifies amended fire safety rules, introduces extensive measures to safeguard buildings

In a significant move towards improving public safety, Delhi has revised its Fire Service Rules, raising the bar for fire safety standards in all newer and existing buildings. Key requirements now include effective fire and smoke barriers, unobstructed access routes, and operational emergency power units. These rules are crafted to align seamlessly with the updated Unified Building Bye-Laws, ensuring enhanced readiness.

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Vamsiram Builders secures 5.38-acre land parcel in Hyderabad's Raidurg for ₹1,447 crore

Raidurg land auctions continue to break records, fetching Rs 269 crore per acre. Vamsiram Builders secured a 5.38-acre parcel for Rs 1,447 crore in the latest auction. Two auctions this month collectively earned Rs 2,833 crore from 10.63 acres. This outcome reflects strong investor confidence in Hyderabad and Telangana's growth. The exceptional price discovery reinforces Hyderabad's position as a dynamic real estate market.

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