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%

Law & Policy

UP-RERA imposes penalties exceeding INR 2.43 crore on two Lucknow developers for failing to upload quarterly progress reports

Lucknow News Desk

12 Mar 2026

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has imposed penalties totalling more than INR 2.43 crore on two Lucknow-based real estate promoters for failing to upload mandatory quarterly progress reports (QPRs) on the regulator's online portal. The action relates to the Arpita Infinity and Ganpati Smart City projects, both of which did not update required project information despite repeated notices from the authority. Under the Real Estate (Regulation and Development) Act, 2016 and the state RERA rules, promoters must submit quarterly updates on project progress, approvals, bookings and construction status within a stipulated timeframe. UP-RERA said the penalties represent up to five per cent of the respective project costs and directed both promoters to deposit the fines and update pending disclosures within 15 days, reinforcing regulatory oversight and transparency in project reporting.Read more

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Haryana RERA directs builder to pay 11% interest for delayed apartment possession

12 Mar 2026

The Haryana Real Estate Regulatory Authority (HRera) has directed Burman Estate Pvt Ltd to pay delay possession interest at 10.80 % per annum to two homebuyers after failing to hand over a serviced apartment in the Gurgaon Spectrum Centre project by the original March 15, 2021 deadline. Although the occupation certificate was issued in late 2024, possession had not been offered. HRera rejected the builder's plea for a second COVID-19 extension, citing that statutory relief had already been availed. Buyers had paid more than the sale consideration and sought multiple reliefs under RERA.Read more

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Haryana plans waste-to-energy plants in major cities as environmental groups raise concerns over pollution risks

11 Mar 2026

The Haryana government has initiated plans to develop waste-to-energy (WTE) facilities in several major cities as part of efforts to improve municipal solid waste management and reduce reliance on landfill dumping. The Urban Local Bodies (ULB) department has constituted a committee to prepare a model request for proposal (RFP) and assess project feasibility in cities including Gurugram, Faridabad and Hisar. The panel has been tasked with identifying potential project sites, estimating waste generation and preparing frameworks for public-private partnership (PPP) implementation. The initiative is aligned with broader waste management efforts under the Swachh Bharat Mission (Urban). However, environmental groups and waste management experts have raised concerns over the environmental impact of incineration-based plants and have argued that the Solid Waste Management Rules, 2016 prioritise waste segregation, recycling and composting before considering energy recovery technologies.Read more

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UP RERA imposes INR 2.43 crore penalty on two Lucknow promoters for failing to upload quarterly progress reports

11 Mar 2026

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has imposed penalties totalling over INR 2.43 crore on two real estate promoters in Lucknow for failing to upload mandatory quarterly progress reports (QPRs) on its online portal. The action followed repeated reminders and notices that were not complied with. One penalty of INR 16.25 lakh was imposed on the promoter of the Arpita Infinity project, while another penalty of INR 2.27 crore was levied on the promoter of Ganpati Smart City. UP RERA stated that quarterly reporting is a key compliance requirement under the Real Estate (Regulation and Development) Act, 2016 to maintain transparency in project execution.Read more

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UP Housing Board offers up to 15% discount on plots and flats in Siddharth Vihar

11 Mar 2026

The Uttar Pradesh Housing Board is offering a discount of up to 15 % on residential plots and flats in its Siddharth Vihar township in Ghaziabad. Buyers paying within 60 days of booking are eligible for the full discount, while those paying within 61-90 days can claim 10 %. The township, spread over 635 acres and around 30% developed, is strategically located along the Delhi-Meerut Expressway with rapid rail and metro access. Plot rates vary depending on orientation, proximity to parks, or wider roads, reflecting a structured pricing system.Read more

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Calcutta High Court cancels builder’s bail citing serious procedural lapses in lower court order

11 Mar 2026

The Calcutta High Court has cancelled the bail granted to a builder in a cheating and criminal breach of trust case related to a redevelopment dispute in north Kolkata. The court found that the magistrate court's bail order issued in 2018 had serious procedural defects, including lack of proper authentication and failure to consider the complainant's objections. The case involves an elderly tenant who alleged that the developer stopped paying displacement rent and failed to provide the promised flat after redevelopment. The High Court also ordered police protection for the complainant and recommended improved judicial training on recording court orders.Read more

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Mumbai BMC mandates expert checks for high-rise building foundations

Mumbai News Desk

11 Mar 2026

The Brihanmumbai Municipal Corporation (BMC) has introduced mandatory independent geotechnical oversight for foundations of high-rise buildings, aiming to strengthen construction safety in the city's dense urban areas. Buildings taller than 180 m must now receive clearance from the High-Rise Committee (HRC) at key construction stages, ensuring soil investigations, shoring, and excavation practices meet rigorous standards. This move follows past foundation and shoring failures, and includes empanelled senior engineers from academia and industry. It represents the first municipal-level geotechnical requirement in Asia and could serve as a model for other growing cities.Read more

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Kanpur administration reclaims illegally sold Nazul land in Civil Lines

11 Mar 2026

The Kanpur district administration has reclaimed a prime Nazul property in Civil Lines after an investigation revealed it was sold illegally in 2012. Originally allotted to the Beri family in 1982, the land had neither lease renewal nor rent payment for years. Heirs of the original lessees misrepresented it as freehold in the sale deed to a private builder. The District Magistrate ordered government re-entry, directing the plot, valued at around INR 24.77 crore (approximately USD 3 million), to be re-registered under government ownership, with oversight assigned to the Nazul and tehsildar officials.Read more

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Mysuru Development Authority plans online auction of vacant plots to raise around INR 1,000 crore for future urban projects

11 Mar 2026

The Mysuru Development Authority (MDA) has initiated plans to mobilise approximately INR 1,000 crore by auctioning vacant land parcels through an online bidding process across several layouts in Mysuru. The authority intends to develop residential sites of varying dimensions on around 150 acres of land located in established layouts such as Vijayanagar, Lalithadri Nagar, Dattagalli, JP Nagar and Hebbal before putting them up for auction. The move aims to generate financial resources for upcoming urban development initiatives, including new residential layouts, group housing schemes and infrastructure works such as the peripheral ring road. The decision follows a reduction in revenue streams after several layouts developed by the authority were transferred to local civic bodies, which resulted in the loss of certain property-related charges and cess collections.Read more

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Lucknow Development Authority launches Park View Apartments with 364 premium 3BHK flats in Basant Kunj housing scheme

Lucknow News Desk

11 Mar 2026

The Lucknow Development Authority (LDA) has launched registrations for Park View Apartments, a group housing project comprising 364 premium flats in the Basant Kunj scheme in Lucknow. Located opposite Rashtra Prerna Sthal, the project will offer 3BHK and 3BHK units with servant quarters, with apartment sizes ranging from about 154 sq m to 195 sq m and starting prices from around INR 75 lakh. Registrations opened in the past week and will remain available until early April through the authority's website, with allotment to be conducted through a lottery system. The development will include four residential towers and a range of residential amenities such as a clubhouse, swimming pool and children's play area. The initiative forms part of the authority's ongoing housing programmes aimed at expanding organised residential supply in Lucknow's growing urban corridors.Read more

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