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

Supreme Court stays enforcement action against Lotus Greens in Noida project dispute

14 Mar 2025

The Supreme Court has ordered that no coercive action be taken against Lotus Greens in connection with alleged irregularities in its Noida real estate project. This directive follows the developer's challenge against an earlier ruling by the Allahabad High Court, which had called for a CBI investigation into violations related to the Sports City project in Noida's Sector 150. The high court had also instructed the Noida authority to recover outstanding dues from all stakeholders and consider fresh bids in case of cancelled allotments. Lotus Greens expressed confidence in the apex court's intervention, hoping for a fair resolution for consortium partners and homebuyers.Read more

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RERA News: Telangana RERA fines developers INR 19.8 lakh for failing to provide promised amenities

13 Mar 2025

The Telangana Real Estate Regulatory Authority (TG RERA) fined developers T Madhusudhan Reddy and Sree Ram Reddy INR 19.8 lakh for failing to deliver promised amenities in the TMR Marvel villa project at Macha Bolarum. Resident N Sravanthi filed a complaint after essential infrastructure, including water supply, street lights, and a compound wall, remained incomplete despite assurances. She also incurred INR 2 lakh for additional safety measures. TG RERA ordered the developers to complete the pending work and rectify water and drainage issues immediately. This ruling reinforces TG RERA's role in protecting homebuyers and ensuring developer accountability in real estate projects.Read more

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Uttarakhand authorities clear 95 illegal encroachments in Pauri

13 Mar 2025

Uttarakhand's Pauri district removed 95 illegal encroachments in Kalagarh as part of a campaign to reclaim government land. Chief Minister Pushkar Singh Dhami reaffirmed strict action against unlawful occupants, emphasising cultural and demographic preservation. Over 5,000 acres have been reclaimed, following stringent land laws. The Uttarakhand Assembly recently passed a land reform bill. The administration aims to strengthen security, law enforcement, and cultural integrity through strict legal enforcement, ensuring government land remains protected for future generations while maintaining Uttarakhand's historical and demographic balance.Read more

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Jaipur Police upgrades Nazar App to enhance security for tenants

13 Mar 2025

The Jaipur Police is upgrading its Nazar App to allow tenants to register and use key security features, improving safety for rented properties. Initially designed for homeowners, the app previously lacked tenant access. The update will enable tenants to register domestic workers, receive security alerts, and track elderly residents at home. Landlords must first register their properties, after which tenants can gain access upon police approval. The upgrade is underway, with officials ensuring smooth implementation. This move aims to enhance residential security and make safety measures more inclusive for Jaipur's growing tenant population.Read more

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Supreme Court allows Dharavi redevelopment to continue, next hearing scheduled for May

13 Mar 2025

The Supreme Court has declined to halt the Dharavi redevelopment project in Mumbai, currently undertaken by Adani Properties Pvt Ltd. The court issued notices to the Maharashtra government and Adani Properties following a petition by Seclink Technologies Corporation, which challenged a previous Bombay High Court decision upholding the project's tender process. Seclink, initially the highest bidder in 2018, had its tender scrapped, leading to Adani's successful bid in 2022. Seclink offered to increase its bid by 20%, but the court did not stay the project. Adani has commenced work, employing around 2,000 people. The Supreme Court has directed Adani to process all project-related payments through a single bank account, with the next hearing scheduled for the week of May 25.Read more

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HC Judgement: Karnataka High Court upholds five-year limit for stamp duty recovery

13 Mar 2025

The Karnataka High Court has ruled that stamp duty recovery actions under Section 46A of the Karnataka Stamp Act, 1957, must be initiated within five years of document registration, except in cases of fraud, collusion, or willful misstatement. The ruling came after BC Prasad and his son challenged a 2010 notice demanding INR 98,500 in unpaid stamp duty for a 1995 General Power of Attorney (GPA). The court deemed the 15-year delay unlawful, reinforcing timeliness in financial recoveries. This aligns with similar Delhi and Maharashtra rulings ensuring government actions adhere to strict timelines, preventing undue legal disputes.Read more

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Okhla Slum Demolition: Court Stresses Need for Resident Survey Before Intervention

13 Mar 2025

The Delhi High Court has refused to stay the demolition of the Okhla Dhobi Ghat slum, directing the Delhi Development Authority (DDA) to first conduct a survey to determine residents' eligibility for rehabilitation. The DDA asserts that the area, located on the Yamuna floodplain, is not listed under the Delhi Urban Shelter Improvement Board (DUSIB) rehabilitation scheme. Similar cases in Mumbai and Chennai highlight the conflict between urban housing and environmental concerns, with courts often ruling for relocation only if due process is followed. The verdict underscores the ongoing tension between slum dwellers' rights and ecological conservation.Read more

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Bhubaneswar Real Estate News: NGT upholds SEIAA's show-cause notice against Bhubaneswar housing project

12 Mar 2025

The National Green Tribunal (NGT) has rejected a Bhubaneswar real estate developer's appeal against a show-cause notice issued by the State Environment Impact Assessment Authority (SEIAA), Odisha, for environmental violations in a housing project in Kalarahanga. SEIAA flagged non-compliance with Environmental Clearance (EC) norms, including improper DG stack height installation. The ruling halts Phase III construction (17 towers of 21 stories each) and warns of possible EC revocation. The NGT reaffirmed that challenging a show-cause notice is legally invalid, reinforcing strict environmental compliance for large-scale real estate projects.Read more

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HC Judgement: Nagpur Bench rules tenants have no right to oppose demolition under MRTP Act

12 Mar 2025

The Nagpur bench of the Bombay High Court has ruled that tenants in illegally constructed buildings cannot challenge demolition notices issued under Section 53 of the Maharashtra Regional and Town Planning (MRTP) Act, 1966. The court dismissed a petition by tenants opposing the Nagpur Municipal Corporation's (NMC) demolition order, emphasizing that only property owners have the right to contest such actions. Citing previous rulings, the bench reaffirmed that illegal constructions must be removed and tenants cannot obstruct lawful municipal actions. This judgment strengthens urban planning regulations and reinforces municipal authority over unauthorized developments.Read more

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Pune Cantonment Board drafts new building bylaws for civil and bungalow areas

12 Mar 2025

The Pune Cantonment Board (PCB) is drafting new building bylaws for its civil and bungalow areas, following directives from the Directorate General of Defence Estates (DGDE). Similar efforts are underway in Khadki and Dehu Road cantonments. Currently, civil pockets have an FSI of 1, and bungalow areas have 0.5, with residents advocating for higher limits. Despite a 2015 Ministry of Defence (MoD) directive for bylaw updates, approvals are still pending. A proposed merger with municipal corporations could shift building control away from the military, making it a sensitive issue. The final decision rests with the state government and MoD.Read more

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