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

Rajkot: Police intensify compliance checks under Disturbed Areas Act

PNT Reporter

24 Dec 2024

Rajkot police have intensified enforcement of the Disturbed Areas Act in the Rajkot West legislative assembly area, uncovering violations in 13 properties during inspections in Ward No. 2. Legal action has been initiated against three landlords for failing to register non-local tenants, a requirement under the Act. Assistant Commissioner Radhika Bharai emphasized the inspections aim to ensure compliance and monitor demographic changes in sensitive areas. The crackdown follows concerns raised about unchecked violations, prompting calls to expand the Act's coverage. Authorities aim to strengthen oversight and maintain social harmony amidst criticism over implementation delays.Read more

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Goa authorities instructed to remove illegal dwellings on comunidade and government land

PNT Reporter

23 Dec 2024

The North Goa collector's office has directed all comunidades and relevant officials to remove illegal and unauthorised constructions on comunidade and government land in the district. This action follows a recent Supreme Court directive. Officials have been instructed to enforce the Supreme Court's ruling, adhering to the Goa Land Revenue Code, 1968, and the Goa Land (Prohibition on Construction) Act, 1995. A recent demolition in Cunchelim, Mapusa, saw the removal of unauthorised homes on land meant for a multi-faith burial ground. Action reports must be submitted to the collector's office monthlyRead more

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Telangana RERA penalises builder for project violations and directs immediate corrective measures

PNT Reporter

23 Dec 2024

The Telangana Real Estate Regulatory Authority (TG RERA) has fined Maha Homes INR 6.58 lakh for marketing and selling villas in Isnapur, Patancheru, without registering the project. In addition to the penalty, TG RERA ordered the developer to form an association of allottees, hand over project documents, install fire safety systems, and address other issues, including contamination risks and incomplete amenities. The case highlights deviations from approved plans and failures in delivering promised facilities, underscoring the need for stricter enforcement of real estate regulations.Read more

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Rajasthan: Bikaner and Bharatpur to get new development authorities

PNT Reporter

23 Dec 2024

The Rajasthan government has approved the creation of new development authorities in Bikaner and Bharatpur to promote organized urban growth. The Bikaner Development Authority will cover the Municipal Development Trust area, Napasar, Deshnok, and 185 villages, while the Bharatpur Development Authority will include the trust area and 209 villages. This move aims to streamline urban planning, infrastructure, and public services in these expanding regions. The new authorities are expected to attract investments, create jobs, and improve urban living conditions by addressing issues like traffic congestion and waste management. This initiative reflects Rajasthan's commitment to sustainable urban development and better governance.Read more

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Mumbai: Land scam in Malad exposes forgery and illegal construction in CRZ areas

PNT Reporter

23 Dec 2024

A major land scam in Malad (West) has led to the arrest of a retired City Survey Office employee, Devdas Jairam Jadhav, for forging land records. This scam, linked to unauthorized constructions on ancestral agricultural plots in a 'No Development Zone' under Coastal Regulation Zone (CRZ) guidelines, raises serious concerns about land management in Mumbai. The complainant, Vaibhav Thakur, discovered unauthorized developments on his family's land in 2016 and, upon investigation, found forged land maps and records. Despite early complaints, action was delayed until a high court-ordered special investigation team expedited the case. Authorities suspect broader collusion, including government officials. This scam highlights the urgent need for transparency, regulatory enforcement, and community vigilance in urban land management.Read more

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NCLAT rejects plea to limit Spaze Towers insolvency to a single project

PNT Reporter

23 Dec 2024

The National Company Law Appellate Tribunal (NCLAT) has rejected Spaze Towers' former promoters' plea to restrict the Corporate Insolvency Resolution Process (CIRP) to the Spaze Arrow project alone. The NCLT's October 2024 ruling initiated insolvency for the entire company, citing defaults on flat deliveries. The NCLAT emphasized that limiting CIRP to one project would neglect creditor claims from other projects like Spaze Corporate Park. Launched in 2012, Spaze Arrow in Gurugram faced delays and licensing failures despite buyer payments. This ruling intensifies Spaze Towers' legal and financial woes, highlighting broader obligations to creditors and incomplete projects.Read more

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GujRERA simplifies quarterly reporting with new Form 8, effective January 2025

PNT Reporter

23 Dec 2024

GujRERA has introduced the Gujarat Real Estate Regulatory Authority (General) (Amendment) Regulation, 2024, effective January 1, 2025, to simplify project progress reporting for real estate developers. The amendment replaces previous complex certification requirements with a new Form 8, allowing developers to submit quarterly progress reports (QPPR) directly. Developers must now provide detailed project information, including estimated costs, completion timelines, and development photographs. While reporting has been simplified, certifications remain mandatory for fund withdrawals. The regulation aims to reduce administrative burdens, minimize manual errors, and enhance transparency in the real estate sector. GujRERA will also permit developers to submit past due reports by paying a late fee.Read more

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Indore Municipal Corporation demolishes illegal structures and removes encroachments

PNT Reporter

20 Dec 2024

The Indore Municipal Corporation (IMC) carried out a demolition drive in Zone 13, removing two illegal constructions. The drive included the demolition of a 3,000 square feet building in Vishnupuri and a 1,500 square feet hostel in Nanak Palace Colony. IMC officials had previously served notices to the building owners to remove the illegal portions, but the owners failed to comply, prompting the demolition. A separate operation in Tulsi Nagar, aimed at enhancing traffic flow, saw the removal of illegal footpath constructions in front of approximately 50 shops. The action is expected to improve the urban environment and residents' quality of life.Read more

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NGT orders halt to construction in Greater Noida and Noida without environmental clearances

PNT Reporter

20 Dec 2024

The National Green Tribunal (NGT) has directed that construction projects in Greater Noida and Noida lacking the necessary environmental clearances should be halted. The decision follows a plea that highlighted the alleged illegal construction of residential and commercial complexes in the area, which violates environmental regulations. The petition further accused some developers of extracting topsoil and operating illegal borewells. The NGT's order mandates that projects lacking the required Consent to Establish (CTE), Consent to Operate (CTO), and Environmental Clearance (EC) cannot proceed. Additionally, the Uttar Pradesh Pollution Control Board was instructed to prevent illegal plotting, especially in floodplain zones.Read more

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Mangaluru City Corporation sets new deadline for bulk waste generators to comply with composting rules

PNT Reporter

20 Dec 2024

Mangaluru City Corporation (MCC) has set a new deadline for bulk waste generators, including large apartments, complexes, and businesses, to comply with waste management rules. By January 15, 2025, these entities must set up on-site composting units to process wet waste and produce fertiliser. This directive applies to establishments generating over 100kg of waste daily, with penalties for non-compliance. Despite the city having over 2,500 bulk waste generators, many have yet to implement the required composting systems. The public can obtain further details on compliance from the MCC website or through email.Read more

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