Real Estate
For this month’s Real Estate Updates, we cover key developments shaping the rights and obligations of developers, industries, and homebuyers. The updates examine the Supreme Court’s approach to environmental restrictions in the Taj Trapezium Zone, the continued responsibility of developers to honour contractual possession commitments despite regulatory extensions, the availability of specific performance where contracts provide for a refund, and the evolving insolvency jurisprudence strengthening protections available to homebuyers.
Supreme Court Opens A Narrow Door For Industries In The Taj Trapezium Zone
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.
Registration extensions do not dilute developers’ contractual possession obligations
The Authority held that obtaining an extension of the project registration, whether or not the a lottees had consented to such extension, could not by itself modify the possession date contained in the registered agreements for sale. As the agreements for sale are registered documents, any modification to the contractual possession date would require an appropriate registered deed of amendment.
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