The Supreme Court has ruled that states do not have the power to take over all private properties for redistribution to serve the common good. This landmark decision comes after hearing 16 petitions, including the lead petition filed by the Mumbai-based P
Supreme CourtProperty RightsLand AcquisitionMumbaiProperty Owners AssociationReal Estate MumbaiNov 05, 2024
The Supreme Court ruled that states cannot take over all private properties for redistribution to serve the common good without due process and fair compensation.
The lead petition was filed by the Mumbai-based Property Owners' Association (POA) in 1992.
The court emphasized that fair compensation should be provided, taking into account the market value of the property and other relevant factors, to ensure that property owners are not unjustly affected.
The ruling brings more clarity and stability to the real estate and property market, reducing uncertainty and legal battles, and ensuring that property owners have clear legal safeguards.
While the state can still acquire properties for essential public projects, it must do so within the framework of the law and with due care for the rights of property owners, promoting a balanced approach.
A Bengaluru court has issued a non-bailable warrant against former Chief Minister BS Yediyurappa in connection with a POCSO case.
Hyderabad witnesses a surge in housing sales, with 38,643 residential units sold in H1 2024, resulting in a total sales value of ₹58,481 crore.
Rudram Realty's Vinit Matlani on his journey to make land buying a seamless process for white-collar individuals
Realty firm Prestige Estates Projects Ltd raises ₹5,000 crore by selling equity shares to institutional investors through private placement.
The average monthly rent in 13 major Indian cities has seen a significant year-on-year increase of 16.9% to Rs 19.35 per sq ft, while property prices average Rs 5,927 per sq ft. Hyderabad stands out as a standout performer in this trend.
The Adani Group is set to merge Sanghi Industries and Penna Cement with Ambuja Cements, a major move in the Indian cement industry. This strategic integration aims to strengthen the group's position and enhance operational efficiency.