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

Gurugram Municipal Corporation issues INR 3.4 lakh in fines for grapping violations

26 Nov 2024

Gurugram's Municipal Corporation (MCG) has intensified enforcement of the Graded Response Action Plan (GRAP) to address deteriorating air quality. Within 24 hours, 54 fines totaling INR 3.4 lakh were issued, including INR 1.4 lakh for prohibited construction activities under GRAP-4. Joint Commissioner Pradeep Kumar led inspections, prioritising measures like anti-smog guns and road water spraying to combat dust pollution. However, residents in areas like New Palam Vihar expressed concerns over ongoing violations, urging stricter penalties. MCG is also engaging environmental groups and launching awareness campaigns to promote community participation in pollution reduction, aiming for long-term air quality improvements.Read more

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Union Minister Khattar highlights PMAY's role in economic growth and job creation

26 Nov 2024

The Pradhan Mantri Awas Yojana-Urban 2.0 (PMAY-U 2.0) continues to transform housing accessibility in India, with Union Housing and Urban Affairs Minister Manohar Lal Khattar emphasising its economic and social impact. Addressing a national workshop, he highlighted the creation of three crore jobs and the program's potential to boost living standards. PMAY-U 2.0 focuses on constructing affordable housing, upgrading existing units, and providing financial aid to low-income families. By fostering collaboration between states and Union territories, the initiative aims to achieve "Housing for All" by 2022, fulfilling the universal dream of homeownership and enhancing urban sustainability.Read more

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Bihar Cabinet approves INR 1 lakh land scheme for landless families

25 Nov 2024

The Bihar state cabinet has approved several initiatives, including a scheme providing INR 1 lakh to landless families to purchase homestead land directly from private sellers. This approach addresses the challenge of private landowners' reluctance to sell at below-market rates, ensuring housing security for more families. Additionally, the cabinet increased the dearness allowance for government employees from 50% to 53%, effective July 1, to offset rising living costs. Rural infrastructure will benefit from the Rural Roads Strengthening Programme and INR 814 crore allocated for elevated roads and bridges. Investments in education and skill development, including new ITIs and a residential school, further highlight the government's commitment to holistic development.Read more

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Telangana: Builder fined INR 1.6 lakh for promoting a Kondapur project without a RERA registration number

25 Nov 2024

The Telangana Real Estate Regulatory Authority (TG RERA) has fined Buildox Private Limited INR 1.6 lakh and ordered the refund of INR 2 lakh to a buyer for promoting and accepting payments for an unregistered project, "The Continent," in Kondapur. The buyer, Sharath, filed a complaint after discovering the project lacked approvals and the land was under litigation. Buildox denied involvement but failed to provide evidence or comply with interim orders. TG RERA ruled the company violated Section 3 of the Real Estate Act, mandating the refund within 15 days. The case highlights the importance of transparency and regulatory compliance in real estate.Read more

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Micasa Project: H-RERA orders timely possession and compensation for buyers

25 Nov 2024

The Haryana Real Estate Regulatory Authority (H-RERA) has directed Pareena Infrastructures to hand over possession of delayed units in the Micasa housing project, Gurgaon, within 30 days, providing relief to buyers waiting over four years. The ruling also mandates the developer to pay an annual interest of 11.1% for delayed possession and execute conveyance deeds within 90 days after dues are cleared. The order, prompted by a buyer's complaint, found the developer in breach of contract. H-RERA's decision reinforces accountability in the real estate sector and serves as a precedent for ensuring timely delivery and safeguarding consumer interests.Read more

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Supreme Court seeks report on pending housing projects in NCR amid buyer concerns

25 Nov 2024

The Supreme Court of India has sought a detailed report on pending housing projects in the National Capital Region (NCR), addressing concerns from home buyers affected by project delays and subsidy scheme issues. Under the scheme, banks disbursed loans to builders, but delays left buyers paying EMIs without receiving their properties. The court, led by Justices Suryakant and Ujjal Bhuyan, is investigating transactions between builders, banks, and buyers, while also reviewing project progress. Earlier, the Supreme Court halted aggressive recovery actions against buyers. This inquiry aims to enhance transparency and accountability in the housing sector, potentially offering relief to affected buyers.Read more

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MCZMA orders probe into alleged coastal regulation zone violations in Navi Mumbai PMAY projects

25 Nov 2024

The Maharashtra Coastal Zone Management Authority (MCZMA) has directed the Raigad district collector to investigate alleged violations of Coastal Regulation Zone (CRZ) guidelines in Prime Minister's Awas Yojana (PMAY) projects in Navi Mumbai. The NarConnect Foundation lodged a complaint, citing construction near sensitive ecological zones like mangroves and mudflats in Mansarovar and Kharghar. Satellite images and photographs suggest non-compliance with environmental clearances that mandate a 50-metre mangrove buffer zone and a 100-metre setback from the creek.Read more

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Bhopal police file FIRs against landlords for failing tenant verifications

25 Nov 2024

The Ayodhya Nagar police have filed FIRs against landlords Harisingh Yadav and Manoj Kumar Gupta for failing to complete mandatory tenant verifications, as required by Bhopal Police directives under Section 163 of the Bhopal Nagar Seva Samiti regulations. This initiative, led by Police Commissioner Harinarayanachari Mishra, aims to enhance city security by ensuring landlords provide tenant details through a police portal or local stations. Tenant verification helps prevent criminal activities and improve law enforcement response. Authorities urge landlords to comply to avoid penalties and contribute to public safety, aligning with broader national efforts to enhance urban security.Read more

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Karnataka High Court rules against maintaining complaint on service provider before K-RERA

22 Nov 2024

The Karnataka High Court ruled that a petition against a service provider is not maintainable before the Karnataka Real Estate Regulatory Authority (K-RERA). Columbia Pacific Communities Pvt Ltd., a senior-care service provider, challenged a K-RERA order involving it in a complaint by the Serene Urbana Apartment Owners' Welfare Association against the project developer, Ozone Urbana Infra Developers. The association had included the service provider due to its role in collecting maintenance charges. Justice M. Nagaprasanna observed that the service provider's responsibilities were limited to service agreements with individual flat owners and unrelated to development issues. The court concluded that the dispute primarily involved the developer and the association, excluding the service provider from liability.Read more

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ED restores Chennai land valued above INR 12 crore to its rightful owner after illegal sale

22 Nov 2024

The Enforcement Directorate (ED) recently returned an INR 12 crore plot of land in Chennai to its rightful owner after it was fraudulently seized and sold by land grabbers. The land was unlawfully encroached upon, and documents were forged to falsely claim ownership. The ED took action under the Prevention of Money Laundering Act (PMLA), following an FIR filed by the Chennai Police. The property was attached in 2017, and this action was confirmed by the PMLA Adjudicating Authority. The ED emphasised its commitment to combating financial crimes and ensuring justice for victims by recovering illegally obtained assets.Read more

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