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

HRERA News: Gurugram builder sentenced to civil imprisonment over non-compliance with refund order

21 Mar 2025

The Haryana Real Estate Regulatory Authority (HRERA) Gurugram bench has ordered one month of civil imprisonment for a developer who failed to refund INR 26.07 lakh to an investor in a delayed commercial project in Sector 89, Gurugram. Despite earlier directives, the developer ignored HRERA's ruling to pay back the amount with 10.75% annual interest. The investor, frustrated with long delays and non-payment of assured returns, approached HRERA, which ruled in his favor late last year. The authority's latest order also mandates the developer's appearance before the forum in the coming weeks.Read more

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Haryana Budget 2025-26: State boosts gig worker welfare, urban housing, and green initiatives

21 Mar 2025

Haryana Chief Minister Shri Nayab Singh Saini has introduced a series of wide-ranging reforms in the state's budget, aiming to boost social security, law enforcement, housing, and environmental conservation. A key highlight is the launch of a new portal to register gig workers and extend insurance benefits. Additionally, the state plans to fast-track drug-related cases, modernize the police force, and expand cybercrime infrastructure. The budget also features initiatives for affordable rental housing, environmental protection, women's empowerment, and enhanced development funds for MLAs, marking a significant step towards Haryana's holistic socio-economic development.Read more

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HC Judgements: Bombay High Court fines builder INR 1 lakh for defying MahaRERA orders

21 Mar 2025

The Bombay High Court has imposed a penalty of INR 1 lakh on a developer for dragging homebuyers into unnecessary litigation, reinforcing the importance of MahaRERA's authority in safeguarding consumer rights. The case stems from a 2019 dispute where a couple, after facing issues securing a home loan due to the developer's partial documentation, sought a refund for a flat booked in an under-construction project in Jogeshwari. Despite a favorable MahaRERA and tribunal ruling, the developer escalated the matter to the Bombay High Court. The court has now closed the second appeal, directing the developer to honor the refund along with interest and additional costs.Read more

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Karnataka HC clarifies balcony rules must follow RMP 2015

21 Mar 2025

The Karnataka High Court has ruled that BBMP cannot impose restrictions on balcony lengths beyond what is specified in the Zonal Regulations of the Revised Master Plan (RMP) 2015. The court stated that RMP 2015, formulated under the Karnataka Town and Country Planning Act, takes precedence over BBMP's Building Bylaws, which had limited balcony lengths to one-third of a building's side. However, it clarified that balcony areas must be included in the Floor Area Ratio (FAR) calculation. This decision aligns with previous rulings emphasizing the authority of master plans in urban development regulations.Read more

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Coimbatore launches drone-based land survey for accurate and transparent property records

21 Mar 2025

Coimbatore is set to modernize its land records through a drone-based survey under the Digital India Land Records Modernization Programme (DILRMP). Covering a 10.44 sq km area across seven wards, the survey will map 73,263 buildings with high precision. Using ortho-rectified images, ETS, and DGPS, officials will update land records for public access within a year. Similar initiatives in Punjab, Delhi, and through the SVAMITVA Scheme have improved land governance across India. This project aims to enhance property documentation, reduce disputes, and support urban planning, making land ownership more transparent and efficient.Read more

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Karnataka rolls out major land reforms and digitisation drive for property records

21 Mar 2025

The Karnataka government has introduced a series of legislative amendments aimed at tightening land governance, streamlining property transactions, and digitizing revenue processes. Key proposals include mandatory registration of power-of-attorney documents related to immovable property transfers and provisions for digital e-stamping and electronic signatures. The amendments also focus on curbing land grabbing, with stricter penalties, and safeguarding both rural and urban government land from encroachment. Additionally, the proposed bills advocate for transparent revenue practices, regulation of unauthorized cultivation, and protection of natural assets such as grazing grounds and water bodies, aligning with Supreme Court directives.Read more

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Allahabad High Court upholds YEIDA's cancellation of JAL's 1,000-hectare land allotment

20 Mar 2025

The Allahabad High Court has upheld YEIDA's decision to cancel Jaiprakash Associates Ltd.'s (JAL) 1,000-hectare land allotment due to payment defaults, affecting 4,600 homebuyers. The court ordered YEIDA to take over JAL's incomplete housing projects, setting a 36-month deadline for completion. A monitoring committee, including UP-RERA and homebuyer representatives, will oversee the process. The court declared a 'zero period' from February 2020, ensuring no penalties or interest. Homebuyers remain cautious, given JAL's insolvency proceedings, but the ruling offers a clear path for long-delayed project completion.Read more

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Bihar government extends land survey deadline to December 2026 to benefit landowners

20 Mar 2025

The Bihar government has extended the deadline for its ongoing state-wide land survey from July 2026 to December 2026 to address public inconvenience and ensure transparency. Announced by Revenue and Land Reforms Minister Shri Sanjay Saraogi, the move comes as part of discussions on the department's INR 1,955.98 crore budget. The special land survey, initiated in 2019, aims to digitize land records and resolve long-standing disputes. While the government is considering extending the March 2025 deadline for self-declaration document uploads due to technical glitches, opposition members staged a walkout, criticizing delays in land redistribution.Read more

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HC Judgements: Bombay High Court clears path for long-delayed hotel project in Navi Mumbai

20 Mar 2025

The Bombay High Court has recently cleared the way for the construction of a long-delayed hotel project in Sector-15, CBD-Belapur Road, Navi Mumbai. A division bench comprising Justice Ajey Gadkari and Justice Shyam Chandak was hearing a petition filed by PVP Star Hotels Private Limited, which challenged CIDCO's demand for an additional lease premium. The project, initially tendered by the City and Industrial Development Corporation of Maharashtra Ltd. (CIDCO) in 2006, had faced significant delays due to the non-development of the proposed Navi Mumbai International Airport. Although the court agreed that lease termination would not serve CIDCO's objectives, it held the hotelier responsible for the additional payment.Read more

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Karnataka: KERC directs power supplier firms to ensure completion and occupancy certificates before providing connections

20 Mar 2025

The Karnataka Electricity Regulatory Commission (KERC) issued a directive to all electricity supply companies across the state, including Bescom, to comply with a recent Supreme Court ruling. The judgment requires that service connections such as electricity, water, and sewerage be provided to buildings only after the submission of valid completion or occupancy certificates. The directive extends to power supply companies in Mangalore, Hubli, Chamundeshwari, Gulbarga, and the Hukkeri rural electricity cooperative society. Authorities are now mandated to carry out regular inspections and enforce strict compliance to prevent unauthorised constructions from accessing essential services.Read more

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