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 authorities seal two buildings, 21 floors for occupancy violations

28 Nov 2023

The District Town Planner Enforcement (DTPE) in Gurugram took action by sealing 21 floors across two apartment buildings in response to alleged violations of occupation certificate norms. The move is part of a crackdown on unauthorized commercial activities within residential premises. Malibu Town Club also faced closure due to complaints about illicit construction within its premises. The authorities issued show cause notices and restoration orders, emphasizing their commitment to curbing unauthorized developments in the region. The enforcement action aims to deter illegal construction and commercial activities within residential spaces, highlighting the importance of adhering to occupation certificate norms for planned development in Gurugram.Read more

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Ludhiana's Sarabha Nagar struggles between residential and commercial identity

28 Nov 2023

The Ludhiana Municipal Corporation has abandoned plans to designate a road in Sarabha Nagar as commercial after facing backlash from residents who deemed it illegal, emphasizing that the area was meant to be purely residential. An MLA had recommended converting one of the roads into a commercial zone citing commercial activity in the region, but this was met with resistance. Following complaints about illegal commercial activities, the municipal corporation will now issue notices to those establishments. The Ludhiana Improvement Trust, responsible for developing Sarabha Nagar, questioned the deviation from the original residential plan and urged the Municipal Corporation to obtain an NOC before approving building plans.Read more

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Gujarat's bullet train stations get a facelift with Special Town Planning Schemes

28 Nov 2023

The Gujarat government has initiated the creation of special town planning schemes around Ahmedabad-Mumbai bullet train stations. The focus is initially on Sabarmati and Surat stations, aiming for harmonious development in proximity. It targets land currently occupied by slums or owned by railways. The officials studied Japanese bullet train stations which work as comprehensive utility hubs integrated with transport, malls, and residential blocks. The proposed redevelopment at Gujarat is to be on these lines with the aim to give the bullet train stations in India an international appearance by using the town planning schemes. The ongoing Ahmedabad-Mumbai high-speed rail project is set to become India's first bullet train route.Read more

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MahaRERA sends notices to unregistered projects in Navi Mumbai

28 Nov 2023

Land speculation in Navi Mumbai surged as small developers, aided by brokers, acquired CIDCO plots at inflated prices and then started selling unregistered apartments without allotment letters from CIDCO. Despite lacking permissions, buyers were attracted by offering significant discounts. MahaRERA has intervened against these practices and started issuing notices and orders to developers. Recent actions emphasise regulatory compliance and transparency in real estate dealings. Upholding standards, authorities aim to create a secure and transparent real estate environment, safeguarding the interests of homebuyers and investors.Read more

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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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