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

VVMC orders removal of encroachments on stormwater nullah in Vasai-Virar to prevent flooding

22 May 2025

In a serious breach of urban planning norms, a 23-foot-wide nullah (drain) in Vasai's Kaman area has reportedly been illegally narrowed to just 6 feet, raising fears of flooding ahead of the monsoon. Concrete walls and encroachments by landowners are being blamed for the blockage. In response, the Vasai-Virar Municipal Corporation (VVMC) has ordered the illegal constructions to be removed and the nullah to be restored to its original width. With repeated flooding complaints from local residents, the civic body has also approached police and revenue officials to ensure compliance, warning that failure to act could worsen monsoon flooding.Read more

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Lokhandwala lake in Mumbai to be cleaned after six-year delay

22 May 2025

After six years of petitions, protests, and delays, the long-neglected Lokhandwala Lake in Andheri West is finally set for a clean-up. The semi-wild waterbody, once home to over 150 species of birds and a diverse aquatic ecosystem, has been damaged by invasive species, algae, and illegal dumping. Now, thanks to sustained efforts by local residents and activists, a No Objection Certificate has been issued, a contractor appointed, and machines are ready to begin the desilting work. Environmentalists hope this marks the beginning of serious efforts to restore the lake's biodiversity and prevent further damage from encroachments and neglect.Read more

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Mumbai developers arrested for defrauding homebuyers of INR 35.7 crore in stalled project

22 May 2025

The Mumbai police's Economic Offences Wing detained Radius Sumer Developers promoters Ramesh Shah and his son Rahul Shah earlier this week on suspicion of defrauding 78 investors out of about INR 35.7 crore. The investors had committed funds to the 'Harbor Heights' residential project in Mazgaon, South Mumbai, which was stalled at the plinth level for years. Despite repeated assurances of timely possession and promising lucrative returns, the project remained incomplete, and refund cheques issued to buyers were dishonoured. This case has spotlighted the persistent risks buyers face in incomplete projects and the urgent need for stricter regulatory enforcement in the real estate sector.Read more

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Karnataka High Court cancels cooperative society registration at Yelahanka apartment complex

22 May 2025

The Karnataka High Court invalidated the registration of a cooperative society established at the Ramky One North apartment complex in Avalahalli, Yelahanka, earlier this week. The residents had contested the formation of the society, arguing it was registered without their consent and under an incorrect legal framework. The court ruled that cooperative societies cannot be registered for purely residential apartment complexes under the Karnataka Cooperative Societies Act, 1959. Instead, it mandated that apartment owners associations must be formed in compliance with the Karnataka Apartment Ownership Act, 1972. This ruling clarifies the legal requirements for managing residential apartment communities and reinforces the rights of homeowners.Read more

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LDA announces INR 3,300 crore development projects to transform Lucknow's Gomti Nagar Extension

22 May 2025

The Lucknow Development Authority (LDA) is poised to launch two major projects in Gomti Nagar Extension, with a total investment of INR 3,300 crore. The first project, River View Apartments, will develop 51 acres of residential land featuring a range of flats, penthouses, and affordable housing for Economically Weaker Sections (EWS) and Lower Income Groups (LIG), all overlooking the Gomti River. The second project involves a hotel-cum-commercial complex on 5.5 acres, designed under a Public-Private Partnership (PPP) model. Together, these developments are expected to significantly upgrade Lucknow's urban infrastructure and lifestyle offerings, further boosting the city's appeal as a modern residential and commercial hub.Read more

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MREAT dismisses AREPL's plea for delay in appealing MahaRERA order on 'Immensa D' project

22 May 2025

Agile Real Estate Pvt. Ltd.'s (AREPL) request to excuse the delay in appealing a MahaRERA order was denied by the Maharashtra Real Estate Appellate Tribunal (MREAT) earlier this week. The original directive required AREPL to pay interest to homebuyers of the 'Immensa D' project in Thane for delayed possession. MREAT found that AREPL failed to act diligently, noting the significant gap between obtaining the certified order and filing the appeal. The tribunal dismissed AREPL's justification of a medical emergency affecting their advocate, stating that the promoter had sufficient resources to seek alternative legal assistance within the prescribed period.Read more

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MoRTH expands role of regional officers in NH projects to ensure better oversight and compliance

22 May 2025

In a move aimed at tightening quality checks and accountability, the Ministry of Road Transport and Highways (MoRTH) recently issued a directive instructing its regional officers (ROs) to assume greater oversight on National Highway (NH) works executed by state public works and road construction departments. The ministry highlighted repeated critical lapses attributed to inadequate diligence during bidding and legal dispute processes. To address this, ROs have now been mandated to scrutinise bid documents before tender invitations and play an active role in legal disputes. The measure intends to better safeguard the Centre's interests and bring alignment with national policy frameworks.Read more

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Pune's real estate shows stability with 14,421 property registrations in April 2025

21 May 2025

Pune's real estate market showed stability in April 2025 with 14,421 property registrations, up 1% year-on-year but down 41% from March's financial year-end surge. Stamp duty collections dropped 3% to INR 547 crore. Despite monthly dips, the January-April period saw the highest property registrations and collections in four years, rising 5% and 8% respectively. Affordable housing dominated, with 83% of homes priced under INR 1 crore, though premium homes also grew from 14% to 16% of the market. Analysts highlight Pune's end-user-driven demand and rising interest in upscale properties, indicating a resilient and balanced market poised for continued growth.Read more

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COAI alleges Mumbai Metro of monopolistic practices over mobile network access

21 May 2025

Mumbai Metro was recently accused by the Cellular Operators Association of India (COAI) of charging exorbitant and monopolistic rents for mobile network access. COAI asserted that under the new Telecommunication Act and Right of Way (RoW) rules, a public authority cannot deny RoW to telecom operators in public spaces. Despite telecom service providers proposing a common network to minimise disruptions, Mumbai Metro allegedly ignored the offer and insisted on using a third-party vendor for connectivity, creating a monopoly. The industry body further highlighted that TSPs had offered to provide connectivity free of cost until commercial terms were finalised, but Mumbai Metro allegedly disregarded the proposal.Read more

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Noida court restricts protests near Jaypee office amid homebuyer discontent

21 May 2025

A Noida civil court has imposed a 100-meter protest-free zone around Jaypee Infratech's Sector 128 headquarters, following a plea by the company's new management, Suraksha Group. The interim order, issued ex parte, comes after homebuyers, awaiting possession since 2010-11, intensified demonstrations over stalled projects. The court limited the no-protest zone to 100 meters, rejecting Jaypee's request for a 500-meter buffer due to insufficient evidence. Homebuyers, represented by the JIL Real Estate Allottees Welfare Society (JREAWS), plan to challenge the order in the next hearing scheduled for July 15, asserting their right to peaceful protest and demanding timely project completion.Read more

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