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

Uttarakhand HC asks state to file rehabilitation plan after slum demolition

03 Mar 2025

The Uttarakhand High Court has instructed the state government to file a rehabilitation plan in a week after slum habitats were demolished to widen a road between Haldwani and Kathgodam. The court issued the directive on a public interest petition protesting the absence of prior notice for the eviction. The petitioner claimed that the demolition had breached Supreme Court rules mandating a 15-day notice period. The case is reminiscent of previous cases of evictions by force throughout India, such as the Haldwani railway land case, demolitions in Delhi slums, and recent Supreme Court actions against arbitrary demolitions. The court has called on authorities to take the extreme weather conditions into account and provide temporary shelter for the residents displaced. The next hearing is on March 4.Read more

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Bengaluru: BBMP revises MG Road PUB rental rates after 20-year dispute, boosting revenue potential

03 Mar 2025

After nearly two decades, the BBMP has revised rental rates for shops at the Netaji Subhas Chandra Bose Public Utility Building (PUB) on MG Road, resolving a long-standing dispute with tenants. The new rates, effective from January 1, 2014, set rents at INR 59 per sq. ft. for ground-floor shops and INR 39 per sq. ft. for basement and first-floor spaces. Of the 88 tenants, 50 have agreed, while others are still negotiating. BBMP is firm on enforcement, sealing four shops for non-payment. This move aligns with broader plans to reassess commercial rents across Bengaluru's government-owned properties.Read more

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Maharashtra extends property registration hours as buyers rush to beat RR rate hike

03 Mar 2025

The Maharashtra government has extended working hours at all 519 property registration offices by two hours from March 1 to manage the year-end rush. With an expected 10% hike in ready reckoner (RR) rates from April, homebuyers and developers are expediting registrations to avoid higher costs. The registration department has already collected INR 48,661 crore and aims to surpass its INR 55,000 crore revenue target. While the extension eases congestion, delays persist in modernizing 100 sub-registrar offices. Rising property demand, metro expansions, and RR rate revisions are expected to impact market valuations in Mumbai, Pune, and Thane.Read more

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HC Judgement: MMRDA retains right to terminate SYSTRA India contract as high court rejects specific performance plea

03 Mar 2025

The Mumbai Metropolitan Region Development Authority (MMRDA) has reaffirmed its contractual right to terminate SYSTRA India's services following a High Court ruling. The court rejected SYSTRA India's plea for specific performance but directed MMRDA to issue a detailed order after allowing the firm to present its case. MMRDA refuted corruption allegations, stating that SYSTRA's formal representation focused on payment delays and project descoping. The authority cited repeated deficiencies in tender preparation and cost discrepancies as reasons for potential termination. MMRDA plans to ensure a fair hearing and urges the media to verify claims before spreading misinformation.Read more

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Karnataka HC Judgement: Revenue officials must record court injunctions in land records

28 Feb 2025

The Karnataka High Court has ruled that revenue authorities must record civil court injunctions in land records, even if the state is not a party to the litigation. The ruling came after a case where a woman's request to reflect an injunction in revenue records was denied. Justice Sachin Shankar Magadum criticized this stance and directed the Revenue Department to ensure all such orders are recorded to prevent unauthorized transactions. The decision reinforces judicial authority, protects litigants' rights, and aims to curb fraudulent land dealings, significantly impacting land administration practices across Karnataka.Read more

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Bombay High Court supports shopkeepers' right to full society membership

28 Feb 2025

The Bombay High Court has ruled in the favour of 12 shop buyers, supporting their right to be considered full members of a cooperative housing society. The court rejected appeals made by the Bhandari Association Housing Society against the orders of the divisional joint registrar in October 2023 and the deputy registrar in September 2022, which ordered the inclusion of the shopkeepers as regular members. The court upheld that mutual housing societies have no right to discriminate between domestic and commercial owners of units on the grounds of decision-making roles, guaranteeing equal membership opportunities. This case is consistent with earlier judicial decrees, e.g., that in September 2023 accepted membership of the owner of a garage converting part of it as a clinic and a September 2024 order that reaffirmed the entitlement of a widow for inheriting the membership of society.Read more

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Kalyan-Dombivli: KDMC demolishes 600 illegal structures in crackdown on unauthorized buildings

28 Feb 2025

The Kalyan-Dombivli Municipal Corporation (KDMC) has intensified its crackdown on illegal construction, suspending ex-Assistant Commissioner Sandeep Rokade for failing to prevent unauthorized buildings in Manda-Titwala. Following Commissioner Indurani Jakhar’s inspection, new appointee Pramod Patil demolished 600 illegal structures in two weeks. KDMC now plans to demolish 65 buildings constructed with forged documents between 2019-2022. An FIR has been filed against four individuals under the MRTP Act. With over 3,000 illegal structures identified in 2023, the Bombay HC’s intervention has pushed KDMC to tighten enforcement, warning officials of suspensions and legal action for negligence.Read more

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NCLT initiates insolvency proceedings against Ansal API over debt dispute

28 Feb 2025

The NCLT has initiated insolvency proceedings against Ansal Properties and Infrastructure Ltd (Ansal API) following a petition by IL&FS Financial Services over a loan default of INR 257 crore. While Ansal API disputes the amount, the tribunal noted that the debt surpasses the INR 1 crore threshold under the Insolvency and Bankruptcy Code (IBC). This move impacts homebuyers and investors in the company’s projects, with a Committee of Creditors (CoC) set to be formed. Ansal API has faced past insolvency cases, including its ‘Fernhill’ and ‘Serene Residency’ projects, reflecting ongoing financial distress despite recent debt reduction efforts.Read more

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Rajasthan High Court orders sealing of 19 illegal buildings in Jaipur walled city amid heritage violations

28 Feb 2025

The Rajasthan High Court has ordered the immediate sealing of 19 illegal buildings in Jaipur's Walled City for violating bylaws and altering heritage structures. The suo motu case revealed extensive unauthorized commercial activity in residential zones. The court mandated compliance by March 11, highlighting the threat of illegal constructions to Jaipur's UNESCO heritage status. Officials report 120-150 illegal structures emerge annually, prompting intensified enforcement by JMC-Heritage and JDA. A three-phase demolition plan targeting 143 buildings is underway. The court's directive aims to protect Jaipur's architectural legacy and ensure stricter urban planning compliance.Read more

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Kolkata: KMC demolishes 150 illegal buildings in crackdown on unauthorized construction across Kolkata

28 Feb 2025

The Kolkata Municipal Corporation (KMC) has demolished 150 unauthorized buildings over the past year and issued 5,000 stop-work notices to developers violating building norms. Additionally, 500 FIRs have been filed against those continuing construction despite warnings. The crackdown, targeting high-risk areas like Rajarhat, Garia, and Behala, aims to improve urban safety and prevent structural failures. Opposition leaders have raised concerns over homebuyers unknowingly purchasing illegal flats, calling for stricter approval processes. With demand for RERA-compliant housing up 30%, KMC plans to introduce an online portal for property verification, ensuring safer, legally approved real estate development in Kolkata.Read more

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