SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

Location : Allahabad

Allahabad High Court issues show-cause notice to Greater Noida CEO over delayed abadi plots

PNT Reporter

17 Dec 2024

The Allahabad High Court has issued a show-cause notice to the CEO of the Greater Noida Authority for failing to implement a 6% developed land allotment policy for farmers whose lands were acquired for projects. Justices Manoj Kumar Gupta and Anish Kumar Gupta questioned the non-compliance with a prior court order, leading to repeated petitions. The 2008 policy remains largely unimplemented, sparking ongoing farmer protests demanding 10% abadi plots. Despite promises of land surveys, delays persist. A new government committee will review the issue, with the court's next hearing expected to determine the future of land allotments.Read more

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Allahabad HC overturns Noida Authority's rejection of building plan

PNT Reporter

09 Dec 2024

The Lucknow bench of the Allahabad High Court overturned the Noida Authority's rejection of a building plan application by two landowners, Kapil Misra and another villager, for a Sector 45 plot acquired through a 2011 exchange deed. The Authority cited non-compliance with 2010 Building Regulations requiring a lease deed, undeveloped land status, and concerns over revenue. However, the court deemed the rejection "illegal," affirming the deed of exchange as a valid transfer under property laws and Article 300A. The ruling mandates a fresh hearing, reinforcing property rights, equitable regulatory interpretation, and the judiciary's role in safeguarding individuals against administrative overreach.Read more

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Allahabad High Court allows Experion Developers to take possession of Sector 45 land

13 Nov 2024

The Allahabad High Court recently ruled in favour of Experion Developers Pvt Ltd, permitting it to take possession of 4.8 acres in Sector 45 allotted over a year ago for a group housing project. Despite objections from neighbouring EWS colony residents who claimed the land should be reserved for civic amenities and access roads, the court confirmed the Noida Authority's right to allocate the plot. Notably, the Authority proposed to widen a nearby road to ease resident concerns. The court instructed the Authority to finalise the road expansion within two months and ensure uninterrupted construction for Experion.Read more

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Allahabad High Court grants Maharajganj residents time to challenge demolition notices

28 Oct 2024

The Allahabad High Court has granted residents of Maharajganj village in Bahraich district, Uttar Pradesh, a 15-day period to respond to demolition notices issued by the Public Works Department (PWD) in the aftermath of recent communal violence. This interim order was made during a hearing of a petition that claimed the notices were illegal. The bench raised concerns regarding the lack of clarity in the notices about construction approvals and provided extra time for the chief standing counsel to collect necessary information.Read more

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Allahabad High Court halts Noida Authority's rejection of land development in Sector 161

22 Oct 2024

The Allahabad High Court has stayed the Noida Authority's denial of construction permits to Satya Homes Pvt Ltd and others, instructing the Authority to reconsider the applications following proper legal procedures. The court highlighted that blanket restrictions without valid justification were not permissible. A fresh site inspection is to be conducted in November, with a report due by mid-November, allowing affected parties to raise objections before the next hearing scheduled for December.Read more

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Allahabad High Court allows L&T to proceed with Green Reserve project

10 Oct 2024

The Allahabad High Court has ruled in favour of Larsen & Toubro (L&T), allowing the company to sell flats in its Green Reserve project in Sector 128 after overturning a Real Estate Regulatory Authority (RERA) decision. The court found that the project was automatically registered due to RERA's failure to respond to L&T's application within 30 days, dismissing RERA's claims regarding co-promoters and instructing the authority to issue necessary registrations. This ruling enables L&T to continue its sales and marketing efforts without facing penalties.Read more

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Banks back Jaypee Group's Plea in Allahabad HC to overturn land allocation cancellation

17 Oct 2023

Banks supporting Jaiprakash Associates Ltd (JAL), a company under the Jaypee Group, have submitted affidavits in the Allahabad High Court, endorsing JAL's request to reverse a decision by the Yamuna Expressway Industrial Development Authority (YEIDA) to cancel the allocation of 1,000 hectares of land. YEIDA had revoked the allocation, citing unpaid land dues of Rs 3,621 crore. JAL, however, contends the outstanding amount is Rs 1,483 crore. The court had directed the banks to clarify their positions earlier. The court further directed JAL to provide an affidavit explaining their differences with YEIDA's calculations.Read more

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Allahabad High Court seeks clarity from banks in Jaypee Group land dispute

28 Sep 2023

The Allahabad High Court has requested banks that provided financing to the Jaypee Group to clarify their positions in a case related to the cancellation of 1,000 hectares of land allocated to the group by the Yamuna Expressway Industrial Development Authority (YEIDA). The court had earlier invited homebuyers and banks to become parties to the case. However, it observed that while several banks had filed applications, they had not taken a stance on supporting or opposing Jai Prakash Associates (JAL), the petitioner. The court directed the financiers to clarify their legal positions and submit affidavits. The matter is scheduled for further hearing on October 10.Read more

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HC denies JAL's interim plea to sell land and clear dues

25 Jul 2023

The Allahabad High Court rejected Jaiprakash Associates Ltd.’s plea for a one-year extension to sell a 150-acre land parcel in Sector 25, Agra, to clear Rs 3,600 crore land dues owed to YEIDA. The court denied interim protection and observed that all efforts to reach a settlement have failed. YEIDA has demanded 10 percent of the total dues for the restoration of allotments. The court's decision also affects homebuyers' interests. The verdict is expected in August. JAL had earlier sought relief and expressed willingness to clear dues while presenting a resolution plan for residential projects.Read more

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