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Mumbai's BMC standing committee approved an amnesty scheme to issue occupation certificates to buildings that have been occupied for years without them, covering units occupied before November 2016. The scheme prioritizes relief for families living in homes up to 80 square meters who have faced delays and service hurdles due to missing OCs.
11:35 PMEconomic Times RealtyThe Enforcement Directorate raided at least five premises of three Delhi-NCR real estate companies in a money laundering probe tied to alleged subvention scheme fraud against homebuyers. The case follows CBI FIRs filed in 2025 on Supreme Court directions, alleging diversion of buyer funds to other projects and uses.
3:54 AMEconomic Times RealtySummary
Mumbai's BMC standing committee approved an amnesty scheme to issue occupation certificates to buildings that have been occupied for years without them, covering units occupied before November 2016. The scheme prioritizes relief for families living in homes up to 80 square meters who have faced delays and service hurdles due to missing OCs.
Why it matters
It converts long-occupied but technically illegal housing into bankable, transferable property, shifting both household security and Mumbai's compliance burden.
Summary
The Enforcement Directorate raided at least five premises of three Delhi-NCR real estate companies in a money laundering probe tied to alleged subvention scheme fraud against homebuyers. The case follows CBI FIRs filed in 2025 on Supreme Court directions, alleging diversion of buyer funds to other projects and uses.
Why it matters
A tougher crackdown on subvention abuse can reset funding norms in NCR, but it can also freeze projects and delay deliveries for thousands of buyers.
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