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

Noida Authority pushes to reclaim unused Unitech land worth INR 10,000 crore

31 Jan 2025

The Noida Authority is making strong efforts to reclaim over 8.5 lakh sqm of unused land from Unitech, which is valued at over INR 10,000 crore, in order to recover dues of more than INR 11,000 crore. The reclaimed land spans several sectors and has remained undeveloped, despite being allotted to Unitech. Following a series of directives from the Supreme Court, Noida Authority continues to seek approval for projects in some sectors, but unresolved disputes and pending dues have hindered progress. A future hearing is scheduled to address these issues further.Read more

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Greater Mohali: GMADA demolishes 40 illegal structures in Nayagaon to enforce urban regulations

31 Jan 2025

The Greater Mohali Area Development Authority (GMADA) has demolished 40 under-construction structures in Nayagaon's Karoran village as part of efforts to curb unauthorized colonies. Led by Assistant Town Planner Gagandeep Singh and Junior Engineer Kushal Sharma, the operation aims to enforce urban planning regulations and protect public resources. The surge in illegal colonies due to rising housing demand has raised concerns over infrastructure and planning deficiencies. GMADA is working on partnerships with private developers to provide affordable, legally compliant housing options while urging residents to avoid investing in unauthorized properties to prevent legal risks.Read more

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Telangana High Court halts auction of 24 plots in Kukatpally Housing Board colony

31 Jan 2025

The Telangana High Court has paused the auction of 24 stray plots in Kukatpally Housing Board (KPHB) colony to assess whether the land forms part of designated open spaces. The plots, ranging from 30 to 290 square yards, were auctioned on January 24 despite a petition from the KPHB Sri Venkata Ramana Colony Welfare Association. The court emphasized the need to verify if the approved layout's required five acres of open space was allocated, citing urban planning rules. Residents fear the auction may reduce community spaces vital for recreation. The next hearing is set for January 30.Read more

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UP-RERA directs developers and agents to comply with advertisement guidelines

30 Jan 2025

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has issued strict instructions to developers and agents, mandating compliance with regulatory guidelines for advertisements. Chairman Sanjay Bhoosreddy stressed that marketing materials must include RERA registration numbers, website links, QR codes, and declaration accounts to avoid hefty penalties. UP-RERA has already imposed penalties totalling INR 266 crore on 91 violators. Homebuyers were advised to verify project details online to mitigate financial risks, while repeat offenders may face fines of up to 5% of the project's cost. The measures apply to all media platforms, including print, TV, and digital media.Read more

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Bombay High Court allows Sheth Developers to complete Vasant Lawns project in Thane

30 Jan 2025

The Bombay High Court has granted Sheth Developers permission to complete Building No. 8 in the Vasant Lawns project, Thane, after quashing a previous injunction by the district court. The injunction had halted construction due to disputes over revised plans and allegations of non-compliance with the Maharashtra Ownership Flats Act (MOFA). The High Court found the societies' demands to revert to the 2005 plan impractical and highlighted that further delays would harm the developer and flat purchasers. The developer must finish construction within six months and apply for the Occupancy Certificate thereafter.Read more

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Dharavi redevelopment project secures Mulund salt pan land amidst ongoing litigation

30 Jan 2025

The Dharavi Redevelopment Project has made significant payments totalling INR 428 crore for land acquisitions in Mulund, Kurla, and Deonar to build rental housing for ineligible residents, identified through an ongoing survey. The SPV, Navbharat Mega Developers Pvt Ltd (NMDPL), with Adani Realty holding 80% equity, has faced legal challenges with some land, such as in Bhandup and Kanjurmarg, still under litigation. Despite paying for Mulund salt pan land and Kurla dairy land, physical possession remains pending. Additionally, the state government must address statutory compliance and compensation for lessees. Meanwhile, protests have erupted in Kurla and other areas, with residents opposing the project and demanding alternative uses for the land, adding further complications to the redevelopment efforts.Read more

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Bhubaneswar landowners demand swift conversion of agricultural land under BDA's TP scheme No. 8

30 Jan 2025

Landowners participating in the Bhubaneswar Development Authority's (BDA) town planning (TP) scheme No. 8, covering Dasapur and Andharua, are frustrated over delays in converting their agricultural land to homestead status. Despite their willingness to contribute 40% of their land for urban development, they argue that the lack of conversion hinders their ability to build homes. BDA's deputy commissioner acknowledged the issues and announced a helpdesk in Kalinga Nagar to address concerns. The TP scheme is crucial for Bhubaneswar's satellite city plans, and timely resolution is essential to ensure successful urban development and landowner participation.Read more

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Mohali Municipal Corporation launches probe into illegal constructions after Sohana building collapse

30 Jan 2025

Following the Sohana building collapse that claimed two lives, the Mohali Municipal Corporation (MC) has initiated an inquiry to identify officials responsible for regulatory lapses from 2018 to 2023. MC Commissioner T. Benith is reviewing approvals and inspections, with potential action against negligent officials. A comprehensive survey is underway to detect illegal constructions, revealing significant violations such as unauthorized six-story buildings. The MC aims to enforce stricter building regulations to prevent future incidents and ensure compliance with safety standards. This initiative underscores the urgency of addressing construction violations and improving oversight mechanisms in urban development.Read more

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Haryana government introduces policy to streamline tree felling on non-forest land

30 Jan 2025

The Haryana government has introduced a new tree felling policy for non-forest land, eliminating the need for approvals on government-acquired or allocated plots for residential and industrial projects. The policy, aimed at balancing urban development and environmental protection, allows for the removal of non-native species like eucalyptus and poplar without permission, while indigenous species remain protected. Haryana's forest cover declined by 13.9 sq km from 2021 to 2023, with 8.2% of its land facing desertification. Environmentalists warn of further degradation, though initiatives like Pran Vayu Devta aim to preserve heritage trees, offering financial incentives to owners of 3,876 trees.Read more

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Ghaziabad: GDA to propose mandatory structural audits for multi-storey buildings

29 Jan 2025

The Ghaziabad Development Authority (GDA) is preparing to propose a mandatory structural audit for multi-storey buildings every three years during its first board meeting of the year. The proposal will make developers responsible for the audits, with accountability shifting to apartment owners' associations (AOAs) if maintenance is transferred. The policy will classify defects as major or minor, with clear timelines for rectification. Industry experts and residents believe this move will enhance building safety, especially in earthquake-prone regions like Delhi-NCR.Read more

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