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

NGT directive halts 200 real estate projects in Mumbai over eco-sensitive zones

01 Jan 2025

The National Green Tribunal (NGT) directive has halted nearly 200 real estate projects in Mumbai Metropolitan Region, mandating central oversight for developments exceeding 20,000 sq. m. within a 5-km radius of eco-sensitive zones. Key areas affected include Sanjay Gandhi National Park, Flamingo bird sanctuaries, and Tungareshwar Wildlife Sanctuary. The transition from state to central environmental clearance has caused delays, increasing costs and uncertainty for developers. CREDAI-MCHI and other stakeholders have petitioned the Supreme Court for interim relief. While the directive highlights environmental priorities, better administrative coordination is crucial to balance sustainability with urban development.Read more

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Delhi: MCD mandates registration of construction workers on portal for welfare benefits

01 Jan 2025

The Municipal Corporation of Delhi (MCD) has instructed contractors to register all construction workers on the Delhi government portal, enabling them to access financial assistance under the Building and Other Construction Workers Act, 1996. This move follows Supreme Court directives to support workers affected by GRAP-IV regulations, which have halted construction activities. Eligible workers will receive a one-time relief payment of INR 8,000. The MCD's efforts align with the Delhi government's registration drive, which has seen over 7.27 lakh applications, though challenges remain with 35,279 rejections. This initiative aims to uphold workers' welfare and rights during economic disruptions.Read more

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Maharashtra: State Registration Department to digitise 2.25 lakh property records dating back 58 years

31 Dec 2024

The Maharashtra state registration department has approved a budget of INR 21 crore to digitize 2.25 lakh property records stored as photo films, some over 58 years old. With INR 10 crore allocated for the first phase, the project aims to protect aging records from damage while improving accessibility. Records from 1985-2002 are nearly 96% scanned, but older films require specialized handling. Officials estimate the digitization will take a year, with tenders expected to be cleared by January 2025. Part of a broader INR 200 crore modernization plan, the initiative will streamline property access and preserve critical legal documents for future use.Read more

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Hyderabad: GHMC approves INR 8,440 crore budget for 2025-26 with a focus on infrastructure and sustainability

31 Dec 2024

The Greater Hyderabad Municipal Corporation (GHMC) has sanctioned a INR 8,440 crore budget for FY 2025-26, prioritizing infrastructure development and essential services. With INR 2,654 crore allocated under the H-CITI initiative for urban infrastructure, the budget emphasizes technological upgrades, eco-friendly projects, and improved public services. Despite challenges in revenue generation, the budget projects a INR 445 crore surplus, offering financial flexibility. GHMC plans to enhance community engagement and promote sustainable urban growth through investments in green spaces and public transport, aiming to make Hyderabad a more livable and investment-friendly city.Read more

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Goa: GCCI deems Mormugao land price hike unreasonable and unfair

31 Dec 2024

The Goa Chamber of Commerce and Industry (GCCI) expressed concerns over the state revenue department's steep increase in minimum land rates for Mormugao taluka, ranging from 597% to 2,857%. GCCI President Shrinivas Dempo called the rates excessive and misaligned with market realities, particularly for regions like Sancoale, now equated with prime areas such as Dona Paula and Assagao. He warned of adverse effects on land sales, government revenue, and local affordability. The GCCI recommended revising rates to INR 15,000 per square meter for Vasco and INR 10,000 per square meter for Chicalim, Dabolim, and Sancoale to ensure fairness and sustainability.Read more

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Rajasthan allocates INR 202 crore for Unity Mall and Mandapam to boost local economy

31 Dec 2024

The Rajasthan government is advancing two flagship projects, the Unity Mall and the Rajasthan Mandapam, to promote local products and economic growth. Located near Jaipur Airport, the Unity Mall has secured INR 200 crore, including INR 100 crore from the Union finance ministry, to showcase ODOP and GI-tagged products. Covering 15,000 square meters, it will also host training and promotional events. The Rajasthan Mandapam, inspired by Delhi's Bharat Mandapam, will span 40,000 square meters to position Rajasthan as a convention hub. RIICO, managing both projects, expects Unity Mall construction to start in February 2025, promising economic and cultural revitalization.Read more

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Illegal extensions removed as VMC enforces building compliance in Vadodara

31 Dec 2024

The Vadodara Municipal Corporation (VMC) has demolished unauthorized extensions of a bungalow in the Tandalja area as part of its efforts to enforce building regulations. Despite prior notices and complaints from residents, the illegal structures, including extensions and a washroom, remained unapproved. The move reflects VMC's broader crackdown on unauthorised constructions in the city, highlighting concerns over safety and urban planning violations. While some residents supported the action for ensuring compliance, others called for leniency and more time for the owners to rectify the violations. Amid rising cases of unauthorized constructions, VMC plans to implement stricter penalties and awareness campaigns to promote adherence to building laws and maintain the integrity of Vadodara's urban development.Read more

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Andhra Pradesh eases building rules, allows 5-story projects without approval

30 Dec 2024

The Andhra Pradesh government has introduced new regulations permitting builders to construct up to five-story buildings without prior town planning approval. Builders can begin work upon submitting applications and paying fees to municipal bodies, streamlining the process and addressing delays in obtaining permits. While offering flexibility, the policy enforces strict adherence to submitted plans, with penalties for deviations. Municipal commissioners are empowered to issue stop-work orders for significant violations. The move aims to boost the construction sector amid rising costs and labor shortages, potentially driving economic growth and setting a precedent for building regulation reforms in other states.Read more

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Karnataka High Court denies land restoration to SC grantees citing 12-year delay

30 Dec 2024

The Karnataka High Court has upheld the denial of land restoration to the heirs of Lakshmaiah, a Scheduled Caste member who was granted land in 1981, citing an unreasonable 12-year delay in seeking restitution after its transfer in 1995. The court emphasised the importance of timely legal action, referencing precedents like the Nekkanti Rama Lakshmi case, which rejected a 25-year delay in land disputes. While the Karnataka SC/ST Act was recently amended to remove time limits for land restoration, this ruling highlights ongoing challenges in balancing the rights of original grantees with those of subsequent owners. The decision underscores the need for timely legal recourse in property disputes.Read more

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Uttar Pradesh government to streamline township handovers ensuring better services for residents

30 Dec 2024

The Uttar Pradesh government is working to address long-standing delays in township handovers from private developers to local civic bodies. Currently, residents face poor maintenance and dual charges due to incomplete transfers. A meeting in Lucknow with representatives from cities like Ghaziabad and Kanpur will focus on standardizing the process. The Ghaziabad Development Authority's recent handover of Indirapuram after a 7-year delay highlights the challenges. A planned committee will develop SOPs to ensure smoother transitions, reducing resident burdens and improving services. This initiative aims to enhance transparency, accountability, and management across townships statewide.Read more

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