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

Andhra Pradesh's CRDA prepares to auction 415 plots in Guntur and NTR Districts

19 Sep 2023

The Capital Region Development Authority (CRDA) in Andhra Pradesh is taking significant steps to expand housing options for citizens and reduce the influence of private real estate developers. They plan to auction 415 residential and commercial plots in Guntur and NTR districts. To make these plots more accessible, the CRDA will collect registration and stamp duty for only 60% of the total cost, categorizing the remaining 40% as a development cost. Buyers will also have the option to pay the total cost in instalments within a year of purchase. This move aligns with the government's efforts to provide affordable housing and promote horizontal urban growth while empowering potential homeowners.Read more

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Pune's PMRDA aims for government approval of Maan-Mhalunge Town Planning Scheme

18 Sep 2023

A representative from the Pune Metropolitan Region Development Authority (PMRDA) recently disclosed that they have concluded the selection of approximately 510 plots and identified 5,800 beneficiaries for their town planning scheme. Under the scheme, beneficiaries will receive 50% of their land back at the same site. This marks a significant step forward in their urban development efforts, demonstrating the organization's commitment to planned growth and efficient land allocation within the Pune region. The scheme's progress showcases PMRDA's dedication to enhancing the infrastructure and quality of life for the local population.Read more

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Bombay High Court denies tenant's request for more space in redevelopment case

18 Sep 2023

In a recent judgment, the Bombay High Court rejected a tenant's plea for additional commercial space in a contentious redevelopment dispute involving a cessed building in Byculla. The tenant, Raj Bucket Factory (RBF), had sought additional carpet area within the new building. The High Court expressed incredulity that a tenant in space-constrained Mumbai could claim ignorance about the extent of the area they were occupying. The court noted previous legal battles and orders related to the property and emphasized that RBF appeared unwilling to vacate the transit building despite previous orders. This decision has implications for similar disputes in Mumbai's real estate market.Read more

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Punjab and Haryana High Court issues notice in cheating case against MLA and his company

18 Sep 2023

The Punjab and Haryana High Court has issued a notice to the Haryana government, Samalakha MLA Dharam Singh Chhokar, his two sons, and Mahira Buildwell Private Limited (formerly known as M/s Czar Buildwell) in response to a plea requesting an investigation into FIRs (First Information Reports) filed against Chhokar on charges of cheating. The petitioners argue that despite multiple FIRs against Chhokar, local law enforcement has been reluctant to take action. Chhokar's family company, Mahira Buildwell Private Limited, is implicated in this complex legal dispute. The respondents have until December 18 to respond to the allegations related to land development and forgery.Read more

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ESIC moves against Gujarat Town Planning Scheme in High Court

18 Sep 2023

The Employees State Insurance Corporation (ESIC) has filed a complaint in Gujarat's High Court, alleging that the state government hastily approved Town Planning Scheme 99 in Naroda-Chiloda and acquired land without consulting ESIC during the peak of the Covid-19 pandemic. The court has now demanded an explanation from the state government in response to these allegations. ESIC contends that their resources and attention were consumed by the pandemic's challenges, making it impossible for them to participate in consultations related to the scheme. This legal action raises questions about due process and governance during critical health crises.Read more

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Mayor urged by Calcutta High Court to address negligence in illegal building case

18 Sep 2023

The Calcutta High Court has issued a stern call to action directed at Mayor Firhad Hakim, urging him to take decisive measures against "erring officers" who neglected their responsibilities regarding the construction of an illegal high-rise building on Canning Street. The court emphasized that if such officers are not held accountable and penalized, illegal construction will continue unchecked, potentially outnumbering authorized constructions in the city. The issue originated from a citizen's complaint during the 'Talk to Mayor' program, revealing that the illegal construction had been ongoing since 2020, yet proper action had not been taken. The court ruled that a proper hearing should be provided to all concerned parties before making any demolition order.Read more

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Mumbai Police issue notice for tenant information to prevent subversive activities

15 Sep 2023

In a bid to prevent subversive activities and enhance security in residential areas, the Mumbai police have issued a notice requiring homeowners to provide details about their tenants. This order, effective for 60 days until November 7, aims to deter individuals with malicious intent from using residential areas for illegal activities. Landlords and homeowners within Mumbai's jurisdiction must submit tenant information through the citizen portal, including details of foreign nationals if applicable. This proactive measure underscores the importance of community safety and will be closely monitored for its impact on deterring subversive activities.Read more

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Mumbai builder and associates accused of misappropriating Rs 45 crore from 139 homebuyers

15 Sep 2023

Mumbai's Economic Offences Wing (EOW) has charged a prominent builder and five associates for allegedly defrauding 139 homebuyers of Rs 45 crore. Funds were collected for the 'Maredian Heights' project in Jogeshwari (W), which remains incomplete. Initiated by a complaint from investor Moinuddin Bora, the EOW found that the developer began accepting payments in January 2008 but consistently missed delivery deadlines. The accused now face charges under the Indian Penal Code and the Maharashtra Ownership of Flats Act. Homebuyers eagerly await a resolution.Read more

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Uttar Pradesh's Apparel Park attracts more industrial units amid government incentives

15 Sep 2023

The Yamuna Expressway Industrial Development Authority (YEIDA) in Noida, which oversees the Apparel Park Cluster, is attracting more industrial firms' attention, according to the Uttar Pradesh government. Out of the 89 available plots, 81 have already been allocated, and 70 more units want plots. With government approval, YEIDA intends to increase the floor area ratio (FAR) for industrial plots from 1.5 to 2.0 in order to promote industrial expansion. Additionally, these plots' ground coverage will rise to 60%. This development includes proposals for improved connectivity and infrastructure, as well as a designated cargo facility at the Noida International Airport.Read more

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Second FIR registered in 10 days over bid to encroach upon MMRDA plots in Mumbai

15 Sep 2023

The Mumbai Metropolitan Region Development Authority (MMRDA) is facing another alleged land encroachment case, marking the second incident in less than 10 days. The police have registered a case against two individuals accused of attempting to encroach upon a 7,000 square meter plot owned by the MMRDA in the Bandra Kurla Complex (BKC). They are accused of illegally dumping construction debris on this valuable property. This comes after a similar case on September 2 involving encroachment on another MMRDA space in Kurla. Both cases highlight the challenges faced by the MMRDA in securing valuable plots in Mumbai's urban landscape, emphasizing the need for stringent security measures and enforcement of land regulations.Read more

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