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%

Top Stories

Independent safety audits of risky buildings ordered by Maharashtra Chief Minister

PNT Reporter

06 Jun 2023

Maharashtra's Chief Minister, Eknath Shinde, has directed civic bodies to conduct independent safety audits of hazardous buildings through esteemed engineering institutes. The decision followed a report by the BMC revealing only a fraction of unsafe buildings had been vacated. In a monsoon preparedness meeting, Shinde emphasized life preservation and relocation provisions for displaced families. The mandate covers multiple aspects, from leveraging modern technology in rescue operations to infrastructure maintenance, highlighting the government's comprehensive plan to ensure public safety during the upcoming monsoon season.Read more

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Digitization of land records initiated by Punjab Government for streamlined access

PNT Reporter

06 Jun 2023

Last week, Chief Minister Bhagwant Mann announced that Punjab will digitize all land records to improve public access and streamline administrative processes. This initiative will also include making these records available in simple Punjabi for easy readability. Mann emphasized efficient record maintenance across all levels and advocated for faceless bureaucratic procedures for enhanced transparency. The early completion of the revenue department's computerization projects is also on the agenda as part of this digital governance strategy.Read more

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Lack of fire safety measures uncovered in 700 buildings in Ghaziabad

PNT Reporter

05 Jun 2023

A recent survey conducted by fire officials in Ghaziabad has revealed that approximately 700 buildings, including hospitals, malls, housing societies, and hotels, are operating without proper firefighting equipment and the required no-objection certificates (NOCs) from the fire department. Nearly 42% of the inspected buildings lacked the necessary NOCs and over 40% of the buildings with fire NOCs lacked standard fire-fighting arrangements. The Chief Fire Officer has issued show-cause notices to the owners of these buildings, directing them to install proper firefighting equipment within a month.Read more

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Housing Secretary calls for robust rating system to assess property developers

PNT Reporter

05 Jun 2023

Manoj Joshi, the Housing and Urban Affairs Secretary, recently advocated for an efficient evaluation mechanism to distinguish between reliable and poor-performing real estate developers. At a CII conference, he suggested this system would enable easier access to bank credit, reducing dependence on customers' prepayments. Highlighting cash flow issues due to inadequate bank financing for contractors and vendors, Joshi urged the sector to collaborate with the Reserve Bank of India and banking system to establish preventive measures against excessive bad lending.Read more

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BMC identifies 226 unsafe structures ahead of monsoon season

PNT Reporter

05 Jun 2023

In anticipation of the impending monsoon season, the Brihanmumbai Municipal Corporation (BMC) has unveiled a list of 226 buildings classified as "extremely unsafe", urging residents to relocate. Majority of these structures are in the western and eastern suburbs. The list, accessible on the BMC's official portal, was a step towards public safety. Furthermore, the Municipal Commissioner had ordered the discontinuation of water and electricity supplies to these buildings earlier this month, stressing the need for evacuation and alternative accommodations.Read more

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Gurugram launches second round of structural safety audits on 15 residential high rises

PNT Reporter

05 Jun 2023

Amid growing concerns over building safety, Gurugram's Deputy Audit Commissioner, Nishant Yadav, has launched the second phase of a critical structural audit for 15 residential societies. These buildings, selected from a list of 60 high-risk projects, will undergo a comprehensive on-site inspection to identify structural defects. The audit follows the tragic collapse at the Chintels Paradiso apartments last year. The cost of these audits will be shared equally between residents and developers, although if complaints are confirmed, developers will bear the full cost. This move emphasizes the city administration's commitment to ensuring resident safety.Read more

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The Government launches Kaveri 2.0 app for property registrations

PNT Reporter

05 Jun 2023

The government of Karnataka plans to capitalize on the thriving real estate industry by raising the guidance value and promoting online property registration. The stagnant guidance value, unchanged since 2019 due to the pandemic, may be revised upward to increase government earnings by approximately 20%. The government has also launched Kaveri 2.0, a web-based application for property registration, in multiple sub-registrar offices. These measures aim to streamline the registration process and leverage the positive momentum in the real estate sector for increased revenue generation.Read more

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Manesar: Minister wants FIR against societies releasing sewage

PNT Reporter

02 Jun 2023

Union Minister Rao Inderjit Singh has instructed officials in Manesar to file police complaints against developers if they release untreated sewage or have irregularities in their rainwater harvesting systems. Singh expressed concern about the discharge of untreated sewage in new sectors and urged action against societies violating environmental regulations. He emphasized the need for rainwater harvesting and directed officials to address residents' complaints. Singh inaugurated projects worth Rs 9.1 crore and reviewed fund utilization by panchayats merged with the corporation. His actions reflect a commitment to environmental sustainability and development in the region.Read more

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Punjab Chief Minister mandates removal of unlawful buildings near airport

PNT Reporter

02 Jun 2023

Punjab Chief Minister, Bhagwant Mann, has ordered the demolition of all unauthorized constructions around Mohali's Shaheed Bhagat Singh International Airport. The move addresses national security concerns and aligns with a High Court mandate. To counteract residential displacement, Mann has instructed local government departments to formulate a swift and just rehabilitation package for the affected residents. He emphasizes this will not only alleviate distress but also help minimize legal disputes, ultimately conserving public funds.Read more

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Ahmedabad's Urban Development Body oversteps its land sale prohibition near stadium

PNT Reporter

02 Jun 2023

Contravening its own directive from 2021, the Ahmedabad Urban Development Authority (AUDA) has decided to sell eight government-owned plots around the Narendra Modi Stadium, previously designated for sports facilities development in preparation for the 2036 Olympics. The sale, including seven plots in Chandkheda and one in Motera, is expected to generate INR 1,500 crore. The move sparks concern over the future of the state's Olympic infrastructure, as official auction dates are yet to be announced. Public scrutiny of AUDA's decision is anticipated.Read more

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