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

Nashik: NMC shifts building plan approvals to a fully online system with Building Plan Management System

13 Jan 2025

The Nashik Municipal Corporation (NMC) has transitioned to a fully online process for building plan submissions and approvals through the Building Plan Management System (BPMS), eliminating offline submissions. This shift, formalized by Municipal Commissioner Manisha Khatri, aims to enhance transparency, efficiency, and adherence to Maharashtra's Unified Development Control and Promotion Regulations (UDCPR). Replacing the earlier AutoDCR system, BPMS has resolved previous technical challenges faced by developers, ensuring seamless operations. The policy aligns with the state government's push for digital governance in urban planning, promoting accountability and streamlined processes for builders and developers in Nashik.Read more

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Bombay High Court rules RERA disputes cannot be resolved through arbitration

13 Jan 2025

The Bombay High Court ruled that arbitration clauses in contracts cannot override the jurisdiction of RERA tribunals, affirming RERA's authority to resolve disputes between homebuyers and developers under the Real Estate (Regulation and Development) Act, 2016. Justice Madhav Jamdar's decision ensures that disputes under RERA's purview cannot be diverted to private arbitration, a move hailed as a significant step in protecting homebuyers' rights. This ruling came in a case where Rashmi Realty Builders sought arbitration despite a RERA tribunal's order for refunding INR 12 lakh. The decision highlights RERA's role as the exclusive dispute resolution mechanism for real estate conflicts.Read more

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Noida Authority refers defaulting industrial plots to state government for resolution

10 Jan 2025

The Noida Authority is addressing non-compliance among industrial and IT/ITES plot owners by escalating 171 cases to the Uttar Pradesh government. Despite a 2024 extension for functional certificates, over 80 industrial plots and 90 IT/ITES plots remain non-compliant due to overdue payments or incomplete construction. Of 206 industrial plots under review, 80 are non-functional, with 30 facing financial hurdles. Similarly, only 16 of 107 IT/ITES plots meet requirements, prompting the authority to explore resolutions, including installment plans and reinstatements. This move aims to resolve defaults while fostering industrial growth and ensuring timely development across Noida.Read more

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Mumbai: ED takes control of Iqbal Mirchi-linked Grant Road property amid demolition probe

10 Jan 2025

The Enforcement Directorate (ED) has taken possession of the land in Grant Road East, where the New Roshan Talkies once stood, as part of its investigation into the assets of the late Iqbal Mirchi, an alleged narcotics trafficker. The cinema hall, which had been demolished, was attached by the ED in October 2020, along with several other properties and bank funds, as part of a money laundering probe. Recently, the ED acted to secure physical possession of the site after reports of illegal encroachment efforts. The agency is also investigating the potential antique value of old film reels and whether the building had heritage status.Read more

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Andhra Pradesh to lift 22A land ban, offering relief to affected landowners

10 Jan 2025

The Andhra Pradesh government plans to lift the ban on 22A lands, aiming to benefit over 4.5 lakh acres of wrongfully restricted landowners. Revenue Minister Anagani Satya Prasad announced steps to reassess misclassified lands and remove unjust restrictions imposed by the previous administration. A resurvey starting January 20 will address ownership claims, with reports from district collectors due in three days. The initiative targets corruption, including fraudulent land registrations and fake passbooks, ensuring transparency and fair ownership. This move highlights the government's commitment to resolving land issues and restoring rights to affected citizens.Read more

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Jammu Development Authority cracks down on illegal constructions in rural areas

10 Jan 2025

The Jammu Development Authority (JDA) has issued a warning about the surge in unauthorized colonies in rural areas, urging buyers to verify colonizers' compliance with Change of Land Use (CLU) certificates and layout plan approvals. These illegal developments, driven by unchecked construction practices, threaten Jammu's planned growth. JDA Vice-Chairman Pankaj Kumar Sharma advised caution in property purchases and encouraged verification with JDA or JMC. Concurrently, the Jammu and Kashmir High Court directed authorities to investigate commercial activities in residential zones, highlighting zoning violations. The JDA's vigilance is vital to safeguarding investments and ensuring sustainable urban development in Jammu.Read more

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Secunderabad Cantonment Board merger talks face delays over defence land complexities

10 Jan 2025

The Central Government extended the Secunderabad Cantonment Board's (SCB) term by a year, reigniting discussions about its potential merger with the Greater Hyderabad Municipal Corporation (GHMC). This decision, formalized through a Ministry of Defence gazette notification, allows the SCB, led by Brigadier NV Nanjundeshwara, to function without elections since 2021. Merger delays stem from complexities in transferring defence lands, such as B-3 and C-lands, to the state government. Recent high-level meetings have sought to resolve these challenges. Advocates highlight the merger's potential to enhance infrastructure and governance, addressing long-standing issues for Secunderabad residents.Read more

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Trichy Corporation to expand its boundaries by merging 22 village panchayats

10 Jan 2025

Trichy Corporation is set to expand its jurisdiction by merging 22 village panchayats from four different panchayat unions, mainly in the northern and western regions. The expansion comes after a preliminary study in 2021 and the finalisation of the plan by the state government. While some urbanised panchayats will be fully merged, others, like Navalpattu and Kumbakudi, will undergo partial mergers. Concerns have emerged regarding the impact on residents, particularly those in rural panchayats who fear an increase in taxes and loss of government benefits. However, urban panchayats welcome the changes, seeing potential improvements in infrastructure.Read more

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UP RERA recovers INR 674 crore for homebuyers in 17 months, boosting confidence

10 Jan 2025

Uttar Pradesh RERA, under chairman Sanjay Bhoosreddy, recovered INR 674 crore in 17 months, surpassing INR 558.5 crore recovered since 2017. A total of INR 1,232 crore has been refunded to 5,124 homebuyers to date. The authority issued 12,472 recovery certificates worth INR 3,778.69 crore, resolving 85.2% of 56,130 complaints filed, mostly from Gautam Buddha Nagar and Lucknow. Innovative strategies, including on-site visits and legal actions, enhanced compliance. Over 1,500 complaints worth INR 600 crore were resolved through conciliation forums. UP RERA's proactive approach has bolstered consumer trust and reinvigorated the state's real estate sector.Read more

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Telangana High Court orders disciplinary action against revenue officials over land acquisition issues

09 Jan 2025

Justice T. Vinod Kumar of the Telangana High Court directed the state to initiate disciplinary action against revenue officials for their role in the improper acquisition of land for the Shivanna Gudem balancing reservoir project in Khudabakshpally village, Nalgonda district. The issue came to light when a villager, Ralla Srinivasa Chary, sought compensation for his land that was acquired for the project, despite having obtained permission from the relevant authorities to construct it. The judge expressed frustration over the authorities' approval of construction after the government had published the acquisition notification, and instructed the state to submit an affidavit on the actions taken against the officials.Read more

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