The Enemy Property Act, 1968, is a crucial piece of legislation in India, particularly in the real estate sector. This article delves into the provisions, implications, and recent developments related to this act.
Enemy Property ActReal EstateIndiaLegal FrameworkProperty ManagementReal Estate MaharashtraFeb 03, 2025
The Enemy Property Act, 1968, is a law in India that deals with properties left behind by individuals or entities from countries that were at war with India. It provides mechanisms for identifying, acquiring, and managing these properties.
Any person who is a citizen of an enemy country or who has transferred property to a citizen of an enemy country can be declared an enemy under the act.
No, enemy properties cannot be transferred without the prior approval of the custodian appointed by the government.
The provisions of the act continue to apply even after the death of the original enemy. The Supreme Court has ruled that the enemy property status does not lapse upon the death of the original enemy.
The act has a significant impact on the real estate market as many properties acquired under the act remain unutilized or underutilized, leading to a loss of economic potential and strain on the market.
The Indian real estate sector witnessed a significant decline in land deals in Q2 2024, with only 25 deals covering 325 acres. Bengaluru and Gurugram led the way in terms of number of deals.
Asma Javed, a renowned real estate expert and Head of Leasing at Navraj Group, recently celebrated her birthday with esteemed industry leaders in New Delhi.
Max Estates plans to raise ₹800 crore by selling equity shares to institutional investors to fuel business growth.
Piramal Capital & Housing Finance has sold its immovable property in Santacruz East, Mumbai, to Shoquba Realty for ₹187 crore. The company also raised $150 million through a global bond sale.
The legendary house from the classic 1990 film 'Home Alone' has hit the market and sold for a jaw-dropping price, marking a significant moment in real estate history. Find out more about this iconic property and its recent sale.
In an exclusive interview, Advocate Pranav Gupta shares his insights on navigating the complex world of insolvency and real estate. With hands-on experience in the Insolvency and Bankruptcy Code (IBC) and real estate firms, Gupta provides valuable advice for professionals and investors alike.