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

Bruhat Bengaluru Mahanagara Palike rejects nearly 2,000 building plan applications

16 Oct 2024

The Bruhat Bengaluru Mahanagara Palike (BBMP) recently rejected nearly 2,000 building plan approval applications following an order mandating local planning authority approval for single plot or layout developments. This directive impacts property owners, particularly in zones like Bommanahalli and Mahadevapura, where over 60% lack necessary approvals. Engineers have urged the BBMP to reconsider the order, fearing it may hinder tax collection and complicate property transactions, especially for those with A-khata status.Read more

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Goa extends tenant verification drive to enhance safety

16 Oct 2024

The Goa government has extended its tenant verification drive by five days to identify residents living without proper documentation. Launched on October 1 and originally ending on October 10, this initiative aims to prevent criminal activities linked to rented properties. Chief Minister Pramod Sawant highlighted the importance of this verification, especially following incidents of serious crimes involving migrants. The initiative intends to bolster the security of both residents and visitors. Sawant urged landlords to submit tenant documents, ensuring compliance to avoid fines. The Goa Verification of Tenants Act is designed to maintain public order and enhance safety for all.Read more

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Bangalore Development Authority intensifies anti-encroachment drive, reclaims INR 460 crore in Nagarabhavi

15 Oct 2024

The Bangalore Development Authority (BDA) has intensified its anti-encroachment efforts, seizing properties worth around INR 460 crore in Nagarabhavi, west Bengaluru. On September 29, land in survey numbers 78 and 129 was reclaimed from illegal occupants who had established commercial operations. This operation led to the demolition of over 40 unauthorised shops and the recovery of six acres valued at INR 430 crore. The BDA also removed illegal structures from Kaggadasapura lake, securing INR 2 crore worth of land for future protection against encroachments.Read more

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Madhya Pradesh reforms PMAY-G with INR 3.06 lakh crore budget

15 Oct 2024

The Madhya Pradesh government has embarked on a statewide survey of kutcha (temporary) houses to identify new beneficiaries under the Pradhan Mantri Awas Yojana-Gramin (PMAY-G). The survey, to be completed within six months, aims to ensure that no intended beneficiary is left out of the scheme, which provides pucca (all-weather) houses to those living in kutcha dwelling units. The government has also relaxed the PMAY-G eligibility criteria, allowing those with bikes or scooters and those earning up to INR 15,000 per month to be included as beneficiaries. Additionally, the government has launched the Awas Sakhi mobile app and inaugurated community-managed training centers to support the scheme's implementation. With a substantial investment of INR 3.06 lakh crore to build 30 million houses over the next five years, the government is committed to addressing the housing needs of rural communities.Read more

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Mumbai: Court urges government action on fire safety regulations following Chembur tragedy

15 Oct 2024

Last week, the Bombay High Court demanded a response from the Additional Chief Secretary or Principal Secretary of the state Urban Development Department (UDD) regarding the minimum time required to enforce fire safety regulations for buildings at risk. The court criticised the state government for failing to meet deadlines for issuing final notifications. It issued a warning that if the proper procedures are not followed, it may pass an order halting all development approvals granted by various planning authorities and corporations, at least within the city of Mumbai, during the next hearing.Read more

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Lucknow Development Authority streamlines mutation process for faster property transfers

15 Oct 2024

The Lucknow Development Authority (LDA) has streamlined its property mutation process to address delays and meet the 60-day completion mandate. Key changes include allowing the property section to verify online fee payments directly, assigning specific responsibilities to officials and implementing a more efficient workflow. The new system involves rapid assignment of applications, timely reviews by planning assistants, and quicker decision-making by property officers. For inheritance cases, a streamlined publication and review process has been established. These improvements aim to reduce processing times, enhance efficiency and provide better service to property owners acquiring residential or commercial properties in LDA schemes.Read more

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MHADA set to launch 20,000 new homes across Maharashtra

15 Oct 2024

The Maharashtra Housing and Area Development Authority (MHADA) plans to construct around 20,000 houses in the Mumbai, Konkan, and Pune regions within the next nine months, with nearly 12,000 units to be announced soon. Recently, MHADA sold 2,030 homes in Mumbai, attracting 134,350 applications. The housing minister highlighted plans for further sales in the Konkan region and additional units in Pune after the assembly elections, emphasising affordable housing initiatives like the Pradhan Mantri Awas Yojana (PMAY).Read more

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Pernem Police charge five for forging company resolution in property fraud scheme

14 Oct 2024

Pernem Police have charged five individuals, including residents from Delhi, Ghaziabad, and Faridabad, with forging a board resolution of Eco Promoters Pvt Ltd to facilitate the sale of seven flats at Agarwada-Chopdem. Inspector Sachin Lokre stated that the accused conspired to create fraudulent documents and forged signatures of the company's directors, presenting them as genuine at the sub-registrar's office in Pernem. The complaint was lodged by Harish Arora on behalf of Eco Promoters Pvt Ltd, highlighting ongoing concerns regarding property fraud and the manipulation of legal documents in real estate transactions.Read more

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Wayanad: Government unveils comprehensive resettlement plan for disaster-affected families

14 Oct 2024

The government is implementing a comprehensive resettlement plan to support families affected by disaster. The first phase focuses on resettling those who lost their homes and land, while the second phase targets families in unsafe areas. A draft beneficiary list will be published by the district collector, with the revenue department overseeing the finalisation process. The resettlement package prioritises livelihood opportunities, providing employment and training for women in their chosen fields, and support for businesses in rented spaces. Sustainable farming facilities will also be considered to ensure long-term livelihoods for the community.Read more

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Mussoorie issues demolition notices for 17 unsafe buildings, including historic landmarks

14 Oct 2024

The Mussoorie Municipal Council has issued demolition notices for 17 buildings deemed unfit for habitation, including the historic Koh-i-Noor building and Hotel Prince. These actions follow orders from the National Green Tribunal, which highlighted concerns over land stability and excessive unplanned construction. A nine-member panel was established to study the town's carrying capacity, revealing that 19 buildings were identified as dangerous based on a 2022 survey. Notably, a bungalow owned by the wife of former cricket captain Sunil Gavaskar has already been demolished and reconstructed, eliminating safety concerns.Read more

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