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

Demarcation of 1,075 acres of JDA land in Jammu still pending after 50 years

28 Mar 2025

The Jammu and Kashmir government has yet to complete the demarcation and handover of 1,075 acres of land to the Jammu Development Authority (JDA), despite transferring over 10,122 acres to the agency nearly five decades ago. A total of 80,976 kanals (10,122 acres) were allotted to JDA, including nazool and state lands in Jammu and Samba districts. However, around 32,387 kanals are under water bodies, 12,202 kanals fall under forests, and 36,220 kanals are classified as agricultural and other land types. So far, 72,373 kanals (9,046 acres) have been demarcated, with 8,602 kanals (1,075 acres) still pending. The government plans to fence land once demarcation is finalized. A 2015-16 CAG report had flagged large-scale encroachments and urged immediate action. Since its inception in 1971, JDA has developed 14 housing colonies and regularised 31 unauthorized colonies over the years.

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MCG to file FIRs against violators resuming construction after seal breaches in Gurugram

28 Mar 2025

The Municipal Corporation of Gurugram (MCG) will now register FIRs against property owners who tamper with seals placed on unauthorized constructions and resume work. The move follows multiple complaints, including a recent incident in Zone 2 where an owner broke the seal and restarted construction. MCG officials have been directed to conduct inspections and file police complaints in such cases. Under the Haryana Municipal Corporation Act, of 1994, illegal constructions must be identified, sealed, and demolished if necessary. Notable cases include a seven-story illegal structure sealed in Sector 39 in February 2024 and another violation reported in Sector 52 in October 2024, where unauthorized floors were being added beyond approved limits.

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ORERA fines Bhubaneswar realtor INR 62 lakh for violating parking order in Shankarpur project

28 Mar 2025

The Odisha Real Estate Regulatory Authority (ORERA) has levied a fine of INR 62 lakh on a Bhubaneswar-based realtor for failing to provide proper car parking space to a homebuyer in a Shankarpur real estate project. This marks the first instance where ORERA has penalized a builder for inadequate parking. The penalty stems from the realtor's non-compliance with a September 2021 ORERA order, which directed the provision of a covered parking spot. The builder's appeal to the Odisha real estate appellate tribunal was dismissed. A subsequent site inspection in December 2024 confirmed that the allotted space was inaccessible and unfit for parking. Citing Section 63 of the RERA Act, ORERA calculated the penalty at INR 5,000 per day from September 2021 to date.

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LDA to hold special registration camp for unregistered properties in Lucknow

28 Mar 2025

The Lucknow Development Authority (LDA) will organize an eight-day registration camp for its residential and commercial properties from March 24-29 at its Gomtinagar office. The initial six days will focus on document preparation, followed by the presence of registration department officials on April 2 and 3 to complete the registration process at the same location. The initiative, directed by LDA vice-chairman Prathamesh Kumar, aims to help allottees with unregistered properties. Those who have made full payments are being notified, while partial payers with over 80% dues cleared are urged to complete payments and register their properties.

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Madras High Court dismisses plea against Tidel Park construction in Madurai

28 Mar 2025

The Madras High Court recently dismissed a petition challenging the construction of Tidel Park in Madurai. The petitioner, R. Mayilsamy, argued that the land was originally classified as a water catchment area. However, the court noted that the land had been reclassified in 1981 for a fertilizer yard and allotted for the Tidel Park project by the Madurai Corporation. Despite acknowledging the original classification, the court ruled that the reclassification, which occurred 44 years ago, allowed the construction to proceed.

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BMC orders evacuation of structurally unsafe CI-rated building in Santacruz

28 Mar 2025

The Brihanmumbai Municipal Corporation (BMC) evacuated residents from Dsouza Mansion in Santacruz, a C1-rated building deemed dangerous. The structure, which had been under scrutiny for its deteriorating condition, was vacated with police assistance to ensure compliance. Residents who had been resisting relocation expressed concerns over inadequate alternatives. The building's structural integrity had been questioned following recent municipal audits categorizing it as unsafe. Despite opposition from occupants, the civic body proceeded with the eviction to prevent potential hazards, marking another instance of BMC's ongoing efforts to address Mumbai's ageing infrastructure.

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Mumbai News: ED launches money laundering probe into INR 1,600 crore Nalasopara land-grab case

28 Mar 2025

The Enforcement Directorate (ED) is investigating an alleged land-grabbing and money laundering case involving unauthorized buildings in Nalasopara, constructed on public land. The case involves the demolition of four buildings by the Vasai-Virar Municipal Corporation (VVMC) in January, following a Supreme Court order that deemed them illegal. Authorities claim that the accused fraudulently acquired land, constructed 41 buildings, and sold flats worth INR 1,500-1,600 crore. This led to the eviction of 2,500 families, a matter recently debated in the Maharashtra state legislature. The agency suspects that the funds from these sales were laundered through various channels, prompting a deeper probe into the money trail.

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Western Railway to clear encroachments on INR 150 crore Bandra plot for future projects

27 Mar 2025

Western Railway is set to clear encroachments on a 15,000 sq. meter prime plot in Bandra (East) near the Western Express Highway, earmarked for long-term infrastructure projects. While the land will not be used for commercial purposes, it is reserved for future expansion of railway activities. The plot, currently divided by a nullah and partially encroached upon, has suffered damage due to the dumping of construction debris. Officials highlighted that these squatters will soon be relocated following due process. Previously, the Railways conducted anti-encroachment drives in 2022, but illegal occupants returned. The land, valued at approximately INR 150 crore, remains crucial for upcoming railway development in Mumbai.

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CBI registers FIRs in INR 9,000 crore Noida Sports City scam; raids hit Delhi and Noida

27 Mar 2025

The CBI has registered three FIRs following the Allahabad High Court's directive over alleged irregularities in the INR 9,000 crore Noida Sports City project between 2011 and 2014. The cases involve real estate firms Logix Infra Developers Pvt Ltd, Xanadu Estates Pvt Ltd, and Lotus Green Constructions Pvt Ltd, along with their directors and unnamed Noida Authority officials. The project aimed to create sports facilities with residential and commercial developments in sectors 78, 79, and 150 of Noida. Allegations include repeated breaches of project conditions and collusion with officials, resulting in significant financial loss to the state. CBI searches in Delhi and Noida have uncovered incriminating documents and digital evidence.

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MCD and Delhi Police conduct an anti-encroachment drive in Sultanpuri to reclaim public land

27 Mar 2025

The Municipal Corporation of Delhi (MCD), alongside Delhi Police, carried out a major anti-encroachment operation in Sultanpuri, targeting illegal structures and reclaiming public land. The focus was on an abandoned community toilet complex in P-block that had been unlawfully occupied, disrupting public movement and raising safety concerns. The initiative is part of the MCD's broader mission to enhance civic order, restore public spaces, and improve urban infrastructure. Authorities have reiterated their commitment to ongoing enforcement measures to keep public areas clean, safe, and accessible to the community, urging residents to comply with municipal regulations.

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