India: Real Estate and Construction

For nearly two years, setting up a new industrial unit or undertaking industrial expansion in the Taj Trapezium Zone (TTZ) required the leave of the Supreme Court. On 23.07.2026, this position changed when the Court modified the restriction imposed in October 2024, permitting the TTZ Authority to process approximately 400 pending applications for industrial projects in the region, subject to a prescribed scrutiny mechanism.

The Bombay High Court has reinforced that developers cannot indefinitely delay deemed conveyance to housing societies by claiming rights to exploit additional Floor Space Index (FSI) made available through regulatory changes. This ruling clarifies the temporal limits on a builder's contractual rights when statutory conveyance obligations have crystallized, establishing that FSI increases occurring after the mandatory conveyance period belong to the society, not the defaulting developer.

The Karnataka Government's recent decision to introduce a 100-day One-Time Settlement (OTS) Scheme for the conversion of B-Khata properties into A-Khata marks one of the most significant real estate reforms in recent years. Under the scheme, eligible property owners can obtain an A-Khata by payment of 2% of the property's guidance value, subject to the applicable eligibility criteria presc-ribed under the scheme.