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

Delhi real estate in limbo as RERA's directive halts property registrations

25 Nov 2023

Property registration in the city has been halted following the Real Estate Regulatory Authority's (RERA) directive to sub-registrars not to register new properties exceeding permitted dwelling units on a plot, as outlined in Delhi's building laws. RERA's order, impacting both sanctioned building plans and sale deeds, requires clear documentation of approved dwelling units, prompting a pause in registrations and sparking controversy over perceived biases in the regulations. The delayed receipt of RERA's order by sub-registrars adds uncertainty to the real estate landscape, with political parties engaging in a dispute over its implications.Read more

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Qualified professionals invited to facilitate rural construction plan approvals in Trichy

25 Nov 2023

The Trichy district administration is inviting qualified professionals such as civil engineers and architects to seek temporary recognition for expediting the plan approval process for residential and commercial constructions in rural areas. The initiative aligns with the Tamil Nadu government's online service for plan approvals, allowing eligible professionals to play a vital role in the issuance of building plans. The call is open to architects, engineers, structural engineers, construction engineers, quality auditors, town planners, and developers. Applications can be submitted through email or in person, and the deadline is November 24. The recognition granted is temporary, subject to the collector's approval.Read more

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BBMP issues self-demolition notices to 26 buildings in Bengaluru's White Rose layout

25 Nov 2023

The Bruhat Bengaluru Mahanagara Palike (BBMP) has taken decisive action in Whitefield, serving self-demolition notices to 26 structures, including completed and under-construction buildings, in the White Rose Layout of the Mahadevapura zone. A total of 70 buildings were scrutinized, and 26 were identified for violations such as unauthorized floors and setback non-compliance. Owners have been given a 15-day window for voluntary demolition; otherwise, the BBMP may proceed with forced demolition after issuing two additional notices, each with a 15-day grace period. Owners of 40 buildings are yet to submit their plans, facing potential legal consequences for unauthorized construction.Read more

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Victory for Usha Sadan Housing Society as court rejects BMC's 11-year battle

25 Nov 2023

After an 11-year legal battle, the Usha Sadan Housing Society has won its case against the BMC regarding the demolition of an 'unauthorized' structure in one of its wings. The city civil court dismissed the municipal order, criticizing the BMC for initiating proceedings without an approved building plan. The society argued that the structure in question had existed since the building's construction in 1958 and was used for storing old files. The court questioned the basis for deeming the structure unauthorized and emphasized the lack of examination of the complainant resident. This victory highlights the importance of due process in such matters.Read more

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YEIDA allocates 109 industrial plots, aiming for an investment of Rs 16,500 crore

25 Nov 2023

The Yamuna Expressway Industrial Development Authority (YEIDA) has conducted a draw for the allocation of 109 industrial plots in Sectors 28, 29, 32, and 33 along the Yamuna Expressway. The move aims to stimulate industrial growth and economic development in the region. The industrial plots, available through a scheme launched in October 2023, cover sectors such as toy parks, handicrafts, furniture manufacturing, and micro, small, and medium enterprises (MSMEs). The initiative is expected to generate significant revenue for YEIDA, with an estimated investment of Rs 16,498 crore and the creation of around 5,132 jobs.Read more

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BMC responds to industry feedback, alters tin sheet height requirement

24 Nov 2023

The Building and Construction Department (BMC) has decided to lower the initially proposed height requirement for tin sheets at construction sites from 35 feet to 25 feet. This decision follows concerns raised by developers and architects about the structural stability of taller tin sheets. While a formal order confirming the change is pending, the BMC is recommending the use of a green cloth above 25 feet. Experts have highlighted the on-site challenges posed by the original guidelines, emphasizing the importance of sturdy sheets to prevent life-threatening incidents. The BMC is also urging other authorities to establish flying squads to monitor compliance with air pollution guidelines.Read more

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Gujarat Government to merge Narmada Dam resettlement colonies with villages in Gujarat

24 Nov 2023

The Gujarat government plans to integrate 80 Narmada dam project resettlement colonies into nearby villages, per an official statement. These colonies, built by the Sardar Sarovar Punarvasvat Agency, aimed at rehabilitating families affected by dam-induced displacement. The inclusion involves merging nine colonies in Bharuch, 14 in Chhota Udepur, 13 in Narmada, 38 in Vadodara, five in Panchmahal, and one in Kheda districts with their closest villages. This move allows residents access to village services and involvement in local decision-making. The decision follows representations to panchayats and housing departments for the incorporation of these colonies into village limits.Read more

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Tamil Nadu unveils 4,272 affordable flats and modernizes land measurement with F-Line online service

24 Nov 2023

Tamil Nadu Chief Minister M K Stalin inaugurated 4,272 flats constructed by the Tamil Nadu Urban Habitat Development Board across nine districts, costing Rs 453.67 crore. A newly built multi-storeyed apartment housing with 32 units in Palayamkottai, Tirunelveli district, worth Rs 31.26 crore, was also unveiled under the 'Housing For All' scheme. These flats measure 400 square feet each and cost Rs 9.77 lakh, with a contribution of Rs 1.65 lakh from each beneficiary. The Chief Minister also inaugurated Cooperative department warehouses and distributed sanction orders to 100 differently-abled individuals, commemorating M Karunanidhi's birth centenary. Pattas were given to those affected by Neyveli Lignite Corporation's expansion. The F-Line online service was also launched to modernise land measurement.Read more

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Slum dwellers reluctant to accept affordable housing in Bhubaneswar's redevelopment zones

24 Nov 2023

Slum dwellers in Bhubaneswar are hesitant to move into the affordable housing projects, newly constructed for them in Chandrasekharpur and Saheed Nagar. BDA officials express the aim to provide quality housing for those affected by slum redevelopment. The apartments, with a built-up area of 300 to 320 square feet, are deemed too small for even a small family to live comfortably. Residents cite inadequate parking space, security, and the absence of service elevators as concerns. With the project ready for inauguration, and the allotment process set to commence in phases post-inauguration, it remains to be seen how things would proceed.Read more

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NIA seizes over 350 properties of terror suspects since 2019 amendments

24 Nov 2023

In the wake of significant amendments to the Unlawful Activities (Prevention) Act in 2019, the National Investigation Agency (NIA) has been actively seizing properties linked to terror suspects, with a notable surge in such actions observed in 2023. Since the amendments, which conferred the Director General of NIA with the authority to approve property seizures in relevant cases, the agency has confiscated over 350 properties, attaching 215 of them in the current year. This marks a substantial increase in comparison to the period preceding the legislative changes.Read more

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