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

Bombay High Court grants tenants right to redevelop Kalbadevi building after landlord delay

PNT Reporter

18 Dec 2024

The Bombay High Court ruled in favor of 38 tenants of the 80-year-old Kalyan Bhavan in Kalbadevi, granting them the right to redevelop the dilapidated cessed building after landlords failed to act within the six-month statutory period. Justices Ajay Gadkari and Kamal Khata set aside MHADA's earlier orders favoring the landlords and directed MHADA to issue a Letter of Intent (LoI) to the tenants. Despite landlords' claims of ongoing discussions, the court upheld tenants' rights under DCPR 2034 and the MHADA Act. This ruling reinforces tenant empowerment in redevelopment cases involving Mumbai's aging buildings.Read more

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Goa: Enforcement Directorate seizes properties in Anjuna and Assagao linked to alleged land grab case

PNT Reporter

18 Dec 2024

The Enforcement Directorate (ED) has taken possession of 19 properties in Goa, situated in Anjuna and Assagao, in connection with an alleged land grab case under the Prevention of Money-Laundering Act (PMLA). The seizure followed a provisional attachment confirmed by the adjudicating authority, barring all related transactions or transfers. The ED directed occupants to vacate the premises within ten days and deposit any lease or rent proceeds with the agency. These actions aim to maintain the integrity of the properties for further legal proceedings.Read more

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Haryana RERA directs NBCC to compensate Green View Society allottees

PNT Reporter

18 Dec 2024

The Haryana Real Estate Regulatory Authority (HRERA) has instructed the National Buildings Construction Corporation (NBCC) to pay monthly compensation of INR 30,000 to the Green View Society allottees in Sector 37D. This decision follows complaints from residents after structural audits deemed the society unsafe for habitation, leading to an evacuation in early 2022. Legal disputes and unresolved compensation claims, particularly from Economically Weaker Section (EWS) flat owners, have delayed demolition efforts. NBCC has sought urgent approval for demolition, citing safety concerns, while residents continue to demand clarity and settlement of their claims.Read more

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MahaRERA cracks down on 10,773 lapsed projects, issues show cause notices

PNT Reporter

18 Dec 2024

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued show cause notices to 10,773 lapsed housing projects since their registration began in May 2017. Developers must submit an Occupancy Certificate (OC)with Form 4 or request a deadline extension with proper documentation within 30 days to avoid penalties. Failure to comply may lead to project registration suspension, restricted flat sales, and frozen bank accounts. The Mumbai Metropolitan Region recorded the most lapsed projects (5,231), followed by Pune (3,406) and others across Maharashtra.These stringent measures aim to safeguard homebuyers' investments, enforce transparency, and ensure accountability in Maharashtra's real estate sector.Read more

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Uttar Pradesh: Farmers' unrest over land acquisition prompts government to form new review committee

PNT Reporter

17 Dec 2024

The Uttar Pradesh government has directed Noida, Greater Noida, and Yamuna authorities to identify farmers eligible for enhanced compensation for lands acquired since 1997. Camps will address concerns over compensation and leaseback cases, with emphasis on prompt disbursal. A previous committee, led by Revenue Board Chairman Rajneesh Dube, suggested financial compensation over residential land due to legal challenges, sparking widespread protests from farmers. Around 5,000 farmers have demonstrated, with multiple arrests made. To ease tensions, the government formed a new committee on December 3, led by Anil Kumar Sagar, to review earlier recommendations. Farmer groups demand fair compensation and peaceful dialogue to resolve grievances.Read more

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Madras High Court stays eviction of Chinna Udaippu residents for Madurai Airport expansion

PNT Reporter

17 Dec 2024

The Madras High Court has stayed the eviction of 130 Chinna Udaippu villagers in Madurai district, halting proceedings linked to Madurai Airport expansion. Justices M.S. Ramesh and A.D. Maria Clete directed the state to respond to a petition citing inadequate compensation and lack of rehabilitation under land acquisition laws. The petitioners argue that 350 families face eviction without proper resettlement plans, violating the Right to Fair Compensation and Transparency in Land Acquisition Act. The case underscores the tension between infrastructure growth and fair rehabilitation, with further hearings scheduled later this month.Read more

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Allahabad High Court issues show-cause notice to Greater Noida CEO over delayed abadi plots

PNT Reporter

17 Dec 2024

The Allahabad High Court has issued a show-cause notice to the CEO of the Greater Noida Authority for failing to implement a 6% developed land allotment policy for farmers whose lands were acquired for projects. Justices Manoj Kumar Gupta and Anish Kumar Gupta questioned the non-compliance with a prior court order, leading to repeated petitions. The 2008 policy remains largely unimplemented, sparking ongoing farmer protests demanding 10% abadi plots. Despite promises of land surveys, delays persist. A new government committee will review the issue, with the court's next hearing expected to determine the future of land allotments.Read more

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Delhi: Over 13,300 benefit from PM-UDAY camps as ownership rights initiative gains momentum

PNT Reporter

17 Dec 2024

Lieutenant Governor VK Saxena recently reviewed the progress of single-window camps under the PM-UDAY scheme, which grants ownership rights to residents of 1,731 unauthorised colonies in Delhi. Since late November, the Delhi Development Authority (DDA) has conducted these weekend camps at 10 centres, benefiting over 13,300 applicants. Services include conveyance deeds, authorisation slips, property registrations, and resolving pending applications. Sub-registrars were deployed to expedite on-the-spot property registrations. Over 2,000 new applications were filed, with 506 deeds and slips issued, and deficiencies in thousands of cases resolved. The initiative, running until December, is a significant step toward legal recognition of homes, ensuring security for residents and showcasing the effectiveness of a mission-driven approach.Read more

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Haryana: Gurugram issues INR 36.7 lakh in fines for pollution violations under GRAP

PNT Reporter

17 Dec 2024

The Municipal Corporation of Gurugram (MCG) has issued 879 fines totaling INR 36.7 lakh under the Graded Response Action Plan (GRAP) to curb pollution. Violations include 566 fines for dust control failures at small construction sites and INR 6 lakh for illegal construction waste dumping. Additionally, 331 fines for solid waste dumping (INR 5.4 lakh), 259 for single-use plastic (INR 2.18 lakh), and 21 for waste burning (INR 1.05 lakh) were imposed. MCG Commissioner Ashok Kumar Garg urged community involvement, while measures like anti-smog guns and mechanical road sweeping aim to improve air quality. Sustainable practices and resident participation are essential for lasting environmental change.Read more

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Gujarat to elevate nine municipalities to municipal corporations, boosting urban governance

PNT Reporter

17 Dec 2024

The Gujarat government will upgrade nine municipalities-Gandhidham, Surendranagar, Porbandar, Vapi, Navsari, Mehsana, Morbi, Nadiad, and Anand-to municipal corporation status within two weeks, increasing the state's total to 17 corporations. This move, announced in the 2024-25 budget, aims to improve local governance and urban services. Administrators, primarily district collectors, will oversee these areas until elections in late 2025. The expansion will extend jurisdiction to nearby villages, with budgetary grants allocated for infrastructure and services like water supply, waste management, and roads. The initiative reflects a commitment to enhancing urban development in Gujarat's rapidly growing regions.Read more

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