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

Haryana clears revised INR 10,266 crore Gurugram Metro cost with World Bank-backed funding plan

21 May 2026

• The Haryana Cabinet has approved a revised project cost of INR 10,266.54 crore for the Gurugram Metro Rail project connecting Millennium City Centre and Cyber City in Gurugram.
• The revised estimate is nearly double the earlier sanctioned cost of INR 5,452.72 crore and includes inflation-linked escalation, GST revisions, additional rolling stock and revised infrastructure requirements.
• The 28.5-km corridor, planned with 27 stations, will also include a 1.8-km spur linking Sector-5 and Gurugram Railway Station to improve multimodal connectivity.
• Haryana has approved supplementary reports for Rapid Metro integration and decided to seek World Bank funding for the project’s full soft loan component following delays in funding confirmation from the European Investment Bank.
• The approvals are intended to accelerate implementation of the long-pending metro corridor in Gurugram, one of the NCR’s largest commercial and residential markets.
Read more

cover photo

Vijayawada Municipal Corporation to roll out QR code-based property identification system

21 May 2026

• Vijayawada Municipal Corporation (VMC) plans to introduce a QR code-based property identification system across the city.
• Residential and commercial properties will receive unique QR-enabled door numbers linked to digital property records.
• The initiative aims to improve property tax administration, verification processes and accuracy of municipal records.
• Civic officials expect the system to help reduce discrepancies in property data and support better urban governance.
• The move is part of the growing adoption of digital property management systems by municipal bodies across India.
Read more

cover photo

BMC advances smart parking initiative for Mumbai as experts stress need for parallel infrastructure expansion

21 May 2026

The Brihanmumbai Municipal Corporation (BMC) is moving ahead with a citywide smart parking initiative aimed at enabling motorists to digitally reserve parking spaces through a unified mobile and web-based platform. The proposed system will provide real-time parking availability, advance booking and digital payment facilities across municipal and private parking locations. The move comes amid rising vehicle density in Mumbai, where government data indicates nearly 2,300 vehicles per kilometre and over three lakh vehicle registrations during 2025. Industry experts have welcomed the initiative, stating that digital parking management can improve traffic flow and parking efficiency, but emphasised that Mumbai will also require large-scale development of mechanised, vertical and multi-level parking infrastructure to address long-term urban mobility challenges.Read more

cover photo

Uttar Pradesh Cabinet clears land transfer for Agra Metro corridor expansion and depot connectivity

21 May 2026

• The Uttar Pradesh Cabinet has approved the transfer of land parcels required for the Agra Metro Rail project, enabling further expansion and operational connectivity for the corridor.
• The approval covers the transfer of land from multiple government departments to the Uttar Pradesh Metro Rail Corporation for metro infrastructure development in Agra.
• The decision is linked to ongoing work on the city’s metro network, which is being developed to improve urban mobility and connectivity across key residential, commercial and tourist zones.
• Authorities said the land allocation would support construction activities, station infrastructure and depot-related requirements for the metro project.
• The Agra Metro project forms part of the state government’s broader urban transport strategy focused on reducing congestion and improving public transit infrastructure in major Uttar Pradesh cities.
Read more

cover photo

Tamil Nadu resident welfare associations seek statewide audit of property tax assessments over alleged revenue leakages

21 May 2026

The Tamil Nadu Alliance of Resident Welfare Associations (TNARWA) has urged the state government to undertake a transparent statewide audit of property tax assessments for residential and commercial buildings, alleging large-scale tax evasion and manipulation in civic valuation processes. The federation claimed that irregular assessments and under-reporting of property details have resulted in revenue losses amounting to hundreds of crores of rupees for urban local bodies across the state. The organisation has sought inspections of properties linked to elected representatives and politically connected individuals, alongside disciplinary action against officials responsible for alleged lapses in assessment procedures. The demand comes amid concerns over Tamil Nadu’s fiscal position and follows previous allegations of property tax irregularities in certain urban local bodies. TNARWA has also called for the creation of an independent oversight mechanism and a fully digital inspection framework to improve transparency in tax administration.Read more

cover photo

Lucknow municipal corporation to roll out OTS scheme for pending house tax and water dues

Lucknow News Desk

20 May 2026

The Lucknow Municipal Corporation is preparing to introduce a one-time settlement (OTS) scheme to help nearly 25 lakh residents clear long-pending house tax and water dues. The move is aimed at reducing the financial burden on property owners whose liabilities increased due to accumulated interest and revised property assessments over the years. Civic authorities estimate that pending house tax dues have crossed INR 700 crore, while water and sewerage dues stand at around INR 110 crore. The proposed scheme is expected to offer relief through interest waivers and help improve revenue recovery for the civic body.Read more

cover photo

Bihar to make map approval mandatory for rural multi-storey housing projects

20 May 2026

The Bihar government is preparing to introduce mandatory map approvals for apartments and multi-storey residential projects in rural areas to regulate rising construction activity outside municipal limits. The proposed rules, being drafted by the Panchayati Raj Department, are aimed at improving planning, construction safety and transparency in village housing projects. The state is also considering a RERA-like system for larger rural developments, including project registration, escrow account norms and compensation provisions for delayed possession. The move comes as real estate activity increases in rural pockets near Patna and other fast-growing urban centres in Bihar.Read more

cover photo

Mumbai builder arrested in alleged INR 10.67 crore fraud linked to Jogeshwari SRA redevelopment project

Mumbai News Desk

20 May 2026

• Mumbai Police’s Economic Offences Wing (EOW) arrested builder Sohail Abdullah Dukka in connection with an alleged fraud in the One Jogeshwari SRA redevelopment project in Jogeshwari West.
• The accused allegedly sold around 10 flats illegally at below-market rates and diverted the money into personal and business accounts instead of the project’s designated RERA account.
• The complaint stated that flats worth nearly INR 14.9 crore were involved, while around INR 10.67 crore was allegedly misappropriated.
• Investigators are examining financial transactions, flat allotments and whether more buyers or investors were impacted in the redevelopment project.
Read more

cover photo

ED probes alleged INR 150 crore CLU fraud linked to Mohali real estate projects

20 May 2026

The Enforcement Directorate (ED) has widened its investigation into an alleged INR 150 crore Change of Land Use (CLU) fraud connected to multiple real estate projects in Mohali. The probe involves projects linked to Suntec City and Altus Space Builders Pvt Ltd, with the agency seeking records from the Greater Mohali Area Development Authority (GMADA). The investigation is focused on alleged forged documents, irregular CLU approvals, financial transactions and cheating of homebuyers and landowners. Earlier searches across Mohali, Chandigarh and Patiala reportedly led to the seizure of cash, property-related documents and digital records connected to the case.Read more

cover photo

ED gets court approval to arrest Ashok Kharat in INR 70 crore money laundering case

20 May 2026

The Enforcement Directorate has received permission from a special PMLA court in Mumbai to arrest self-styled godman Ashok Kharat in connection with an alleged INR 70 crore money laundering case. Kharat, who is already in judicial custody in Nashik jail in separate rape and fraud cases, is accused of operating an extortion network and routing funds through multiple benami bank accounts. The ED has alleged that money collected from victims through religious manipulation and the sale of so-called “blessed” products was used to acquire properties in his and his family members’ names. Authorities are also probing possible wider financial links and additional beneficiaries.Read more

cover photo