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

Builders Association proposes measures to streamline TNRERA approvals

PNT Reporter

03 Dec 2024

The Builders Association of India called for urgent reforms to streamline the approval process of the Tamil Nadu Real Estate Regulatory Authority (TNRERA), highlighting delays and compliance challenges. Developers reported that approvals often exceed the 30-day timeline, suggesting improvements like raising all queries at once and inviting applicants to meetings for faster clarifications. They also proposed leniency in land measurement discrepancies, exempting CA signatures from quarterly reports, and allowing scanned copies of documents for redevelopment projects. Concerns over public disclosure of legal title documents and penalties for pre-RERA sales were raised, with developers urging a more balanced and efficient approach to boost the sector.Read more

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Coimbatore civic body reclaims OSR land worth INR 22 crore in Vadavalli

PNT Reporter

03 Dec 2024

The Coimbatore City Corporation recently reclaimed 1.13 acres of open space reservation (OSR) land in Vadavalli, valued at 22 crore. The land had been illegally sold and occupied by individuals who built houses on it. Despite earlier court orders to remove encroachments, efforts to vacate the land failed. In response to a contempt petition filed by the VNR Residents' Welfare Association, the corporation demolished the illegal structures and reclaimed the land. Plans include installing a fence around the reclaimed parcels, and further action will be taken to reclaim the remaining 56 cents if the encroachers do not vacate within 15 days.Read more

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Andhra Pradesh government simplifies building construction approval process

PNT Reporter

03 Dec 2024

The Andhra Pradesh state government has decided to streamline the process for granting permissions for the construction of buildings and layouts. Starting from December 31, a single-window system will be introduced, eliminating the need to visit multiple departments. The Minister for Municipal Administration and Urban Development (MAUD), P Narayana, highlighted that buildings up to 15 meters in height will no longer require permission for plans. Further developments will include a review of Transfer of Development Rights (TDR) and the completion of the Amruth-2 scheme within two years. The World Bank has agreed to release a loan for capital region projects.Read more

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Odisha: State government plans amendments to ease sale deed registration process

PNT Reporter

03 Dec 2024

The Odisha government is looking to amend the Odisha Real Estate (Regulation and Development) Act of 2016, the Odisha Apartment (Ownership and Management) Act of 2023, and related development authority laws to simplify the process of registering sale deeds for plots and apartments. Revenue and Disaster Management Minister Suresh Pujari acknowledged that the current system has caused delays and revenue losses due to difficulties in registration. The state plans to address these issues through necessary legal changes, with experts suggesting a regularisation scheme to smooth the process further.Read more

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Bombay HC examines PIL alleging irregularities in private forest development in Goa

PNT Reporter

03 Dec 2024

The High Court of Bombay at Goa has requested replies from the concerned authorities in response to a public interest litigation that challenges development permissions granted by the Town and Country Planning (TCP) Department in a private forest area in Salvador do Mundo. Architect Dean D'Cruz argues that the TCP Department misrepresented the private forest map and manipulated development plans, increasing the settlement area while reducing the forested land. D'Cruz is calling for the cancellation of permissions for residential villas and other constructions, citing the environmental risks, including soil erosion and landslides, posed by hill-cutting, which is prohibited under the TCP Act.Read more

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Indore to conduct drone survey for clearing encroachments along Kanh and Saraswati rivers

PNT Reporter

02 Dec 2024

Efforts to rejuvenate Indore's Kanh and Saraswati rivers are underway, involving a drone survey to map encroachments within 30 meters of their highest flood level (HFL). The phased project includes removing structures, constructing sewage treatment plants (STPs), and preparing a Detailed Project Report (DPR) to secure funding under the Namami Gange Programme. Notices were issued to 150 encroachments in Kabutarkhana and Machhi Bazaar, with relocations planned for eligible families to PMYA flats. The project also targets encroachments along six major nullahs spanning 57 km.Read more

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Delhi NCR: UPPCB permits carpentry and steel binding under GRAP guidelines

PNT Reporter

02 Dec 2024

The State Pollution Control Board clarified that less-polluting construction activities, such as steel binding and carpentry, are allowed under GRAP stages 3 and 4, with dust control measures in place. This clarification followed a complaint from CREDAI, which highlighted the misinterpretation of CAQM guidelines by local officials, resulting in unnecessary work stoppages. CREDAI emphasized that such tasks, if compliant with dust control measures, should be permitted. UPPCB clarified that only dust-intensive activities like excavation and demolition are banned. CREDAI welcomed the clarification, noting that work had resumed at several construction sites in Noida and Greater Noida.Read more

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Mangaluru City Corporation to review newly proposed building regulations

PNT Reporter

02 Dec 2024

The Mangaluru City Corporation (MCC) is preparing to implement a new building bylaw designed to enforce strict penalties for violations and support sustainable development. After submitting a draft to the government, it was returned for additional revisions. The updated bylaw will be reviewed at the MCC council meeting on November 28. A dedicated committee has worked on the draft, which includes measures to address construction violations in both residential and commercial buildings, with guidelines for builders. The urban development department has instructed MCC to amend the draft further before resubmitting it for approval.Read more

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Residents of Jyotirmath granted approval to repair homes after two-year construction ban

PNT Reporter

02 Dec 2024

The Chamoli district administration has authorized repairs for homes in subsidence-affected Jyotirmath (formerly Joshimath) located in green and yellow zones. This move responds to residents' demands to rebuild before winter, though it comes with strict conditions, prohibiting new construction. The decision ends a two-year ban on construction imposed after land subsidence in January 2023. While the town was categorized into red, yellow, and green zones based on risk, the Joshimath Bachao Sangharsh Samiti criticized the order for not allowing construction in safer zones. They expressed disappointment, particularly since compensated residents are still restricted from rebuilding in safer areas.Read more

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J&K police arrests nine landlords for not providing tenant information

PNT Reporter

02 Dec 2024

In Jammu and Kashmir's Samba district, officials have registered nine cases against landlords for failing to submit tenant information to local police for verification. This action follows concerns about potential anti-national elements posing as tenants or domestic workers. The Samba Police conducted this verification initiative, resulting in five cases at the Samba police station and two each at the Ghagwal and Bari Brahmana stations. The district magistrate has mandated compliance, urging residents to report tenant details for timely verification.Read more

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