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

Haryana Chief Minister declares regularisation of 300 unauthorized colonies

12 Oct 2023

Haryana's Chief Minister has made a significant announcement, revealing plans to regularize an additional 303 unauthorized colonies across the state. Among these colonies, 193 fall under the jurisdiction of 39 different municipalities, while the remaining 110 are overseen by the Town and Country Planning Department. This move is expected to provide legal recognition and basic amenities to thousands of residents in these previously unauthorized settlements, improving their quality of life and facilitating infrastructural development in these areas. The decision reflects the government's commitment to addressing the needs of its growing urban population and fostering inclusive urban development.Read more

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Financial Respite and Market Boost: LDA's comprehensive approach

12 Oct 2023

The Lucknow Development Authority (LDA) brings relief to economically weaker sections by waiving compound interest for defaulters of EWS and LIG houses and shops up to 20 square meters. The decision, approved during the LDA board meeting, aims to ease the financial burden on allottees under EWS, LIG, and Pradhan Mantri Awas Yojana. Divisional Commissioner and LDA chairperson Roshan Jacob, highlighting the hindrance posed by compound interest on recovery of dues, said that this move would rectify the issue to a large extent. LDA has taken a slew of measures to boost demand over the last couple of years such as lowering of interest rates, extending EMI period, and even freezing the flat prices under the first-come-first-served scheme for a year.Read more

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Jharkhand CM seeks help from Centre in implementation of PMAY

12 Oct 2023

Jharkhand Chief Minister Hemant Soren has urged the Central government to address critical issues facing the state. He called for the clearance of a significant debt owed by mining companies to Jharkhand, amounting to around Rs 1.36 lakh crore. Soren emphasized the importance of implementing the Pradhan Mantri Awas Yojna housing scheme to improve living conditions for economically disadvantaged individuals. He also raised concerns about the low credit deposit ratio in the state, calling for greater cooperation between banks and the government. Soren stressed the need for continued deployment of paramilitary forces to maintain security and prevent extremist activities.Read more

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Pune District administration cracks down on land use violations, issues 531 notices

11 Oct 2023

The district administration in Pune has taken strict action against individuals who did not pay the required 15% transfer fee, based on the ready reckoner rate, for changing land use from industrial to residential in various areas. Notices have been issued to 531 individuals under Section 20 of the Urban Land Ceiling and Regulation Act, 1976, allowing the state to impose a one-time premium for land use changes. Those who received notices must either pay the fee along with a penalty or face legal action. This action follows the directive of Chief Minister Eknath Shinde to address violations related to land use changes.Read more

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Ahmedabad Development Body to auction plots with unclear titles

11 Oct 2023

The Ahmedabad Urban Development Authority (AUDA) is set to auction two plots in Chandkheda Town Planning Scheme 44, attracting interest from the Dubai-based Lulu Group. One of the plots is in AUDA's possession, while the ownership of the other is unclear due to historical land disputes. These lands were originally acquired by Sardar Sarovar Nigam Ltd. (SSNL) for a canal project but later became the subject of legal disputes between the government, original landowners, and Gujarat Housing Board (GHB). AUDA's decision to auction the plot with unclear ownership has raised questions and speculations about potential legal complications.Read more

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Union Cabinet approves tenancy regulations for three Union Territories

11 Oct 2023

The Union Cabinet, led by Prime Minister Narendra Modi, has approved tenancy regulations for Union territories, including Andaman and Nicobar, Dadra and Nagar Haveli, and Daman and Diu, under Article 240 of the Constitution. These regulations aim to create a transparent and fair rental property ecosystem, attracting private investment, expanding rental housing stock, and benefiting both landlords and tenants by fostering accountability and reducing disputes. This move recognizes the growing importance of rental housing and seeks to protect the rights of various tenant segments, ultimately contributing to social and economic well-being.Read more

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Punjab NOC scam unveils forged documents linked to government resources

11 Oct 2023

In Punjab, a troubling scam involving No Objection Certificates (NOCs) has emerged, revealing potential collusion with government officials. The scam relies on forged documents with Quick Response (QR) Codes that, when scanned, link to the official Punjab Government portal. Deputy Commissioner Aashika Jain's investigation verified the functionality of these QR codes, raising suspicions about their origin. In response, enhanced security measures are being implemented during document registration, and NOCs from development authorities and urban local bodies are under review. The gravity of the situation is exemplified by a police FIR against unidentified individuals.Read more

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EOW investigates Rahul Yadav and his wife for Rs 288 crore fraud

11 Oct 2023

EOW investigates Rahul Yadav and his wife for Rs 288 crore fraud The Mumbai Police's Economic Offences Wing (EOW) is investigating Rahul Yadav, the founder of a property start up, for alleged mismanagement of Rs 288 crore ($38 million) of investor funds, leading to the company's collapse in just three years. Info Edge, owner of Naukri.com, had invested heavily in Yadav's startup, 4B Network Pvt. Ltd., and filed a complaint with the EOW outlining suspicious transactions, including loans to former employees during financial difficulties and the diversion of funds to other family-owned businesses. Yadav launched 4B Network in 2020, aiming to provide a tech-driven platform for real estate agents. His firm denies wrongdoing, attributing issues to Info Edge's lengthy approval processes.Read more

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Bombay HC disapproves pleas seeking regularisation of illegal structures as fundamental right

11 Oct 2023

The Bombay High Court has lifted a stay on the demolition of a shop within a housing society compound, emphasizing the worrying trend of people viewing the regularization of unauthorized structures as a fundamental right. Justices Gautam Patel and Kamal Khata expressed concern that many believe planning laws are irrelevant and they can construct unauthorized buildings, and then seek regularization. The dispute emerged when the shop owner contested the BMC's demolition notice, which the court had temporarily stayed. The judges clarified that mere existence for "many years" held no legal weight and questioned the habit of applying for regularization after unauthorized construction.Read more

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Bombay HC dismisses defence objection to redevelopment of buildings near INS Trata

10 Oct 2023

The Bombay High Court has issued a significant judgment directing the Brihanmumbai Municipal Corporation (BMC) to process permissions for the redevelopment of a property near the INS Trata naval missile battery base in Worli, Mumbai, without the need for prior approval from naval authorities. The court's decision emphasized that a structure of the same height and location should not pose a security threat merely by undergoing reconstruction. The ruling has far-reaching implications, as it quashed defence ministry circulars and established the importance of adhering to established legal procedures when imposing construction restrictions near defence installations, striking a balance between security and property rights.Read more

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