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

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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YEIDA announces new policies for industrial plots and real estate developers

15 Sep 2023

The Yamuna Expressway Industrial Development Authority (YEIDA) has made significant decisions in its recent board meeting. They eliminated e-auctions for industrial plots, introduced a One-Time Settlement (OTS) policy for real estate developers, and revised the payment plan for group housing plots, allowing extended payment periods. The board also approved the Master Plan 2041, focusing on industrial and commercial growth, especially around the Noida International Airport area. Additionally, the Vrindavan-Raya Heritage City project's development area has been expanded to 1,500 acres along the Yamuna in Mathura, including a riverfront development. These measures aim to facilitate regional development and ease dues for developers.Read more

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Pune's merged villages demand UDCPR for Real Estate

14 Sep 2023

Near Pune, 23 amalgamated villages' residents and local authorities are pleading with the state government to put the Unified Development Control and Promotion Regulations (UDCPR) into effect. Due to difficulties obtaining building permits brought on by the lack of Development Plan (DP) regulations, real estate development in these areas has halted. Construction is being hampered by this delay, which is also having an effect on developers and small property owners who need building permits. Given the anticipated population expansion, implementing the UDCPR could simplify this procedure and encourage development in certain areas. However, as the Pune Metropolitan Region Development Authority (PMRDA) currently possesses these rights, specific consent from the state government is required.Read more

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Indore's Malharganj Government land auction land for Rs 8 crores

14 Sep 2023

The MP Public Assets Management Department is boldly auctioning prime land in Indore's Malharganj area for a remarkable Rs 8.19 crore. This innovative move aligns with the Madhya Pradesh government's strategy to monetize underused or encroached government properties, generating much-needed revenue. The department's portal currently showcases 11 Indore properties for monetization, seven of which are already sold, with more properties under review. A 13,560-square-metre piece of land in Gadrakhedi is up for auction between September 8 and 29, promising transformation and reshaping Indore's real estate landscape. This visionary initiative reflects the state's commitment to innovation and prosperity.Read more

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Chennai Corporation fines contractors for safety violations in drain construction

14 Sep 2023

The Chennai Corporation has fined several construction contractors for failing to ensure safety measures during stormwater drain projects, including open pits. The corporation has formed specialized teams to ensure proper safety barriers are in place. Five contractors were fined Rs 20,000 each for inadequate site security. Activists argue that the fines should be stricter, including blacklisting repeat violators. The corporation aims to complete pending storm drain work by September 30, prioritizing missing links. Official data shows substantial progress in storm drain projects, with minor repairs and desilting ongoing.Read more

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Citizen's Vigilance: PIL prompts court intervention in Haridwar land case

14 Sep 2023

A division bench of Chief Justice Vipin Sanghi and Justice Alok Verma has ordered the government to enforce compliance with land use laws following a PIL challenging construction on agricultural land without proper authorization. The petitioner, Atul Chauhan from Haridwar, raised concerns about a group housing project on 50 acres of agricultural land in Laksar, highlighting violations of land use regulations and the misuse of a natural water body. The court has directed the state government to submit an affidavit within four weeks and scheduled the next hearing for January 2, 2024, emphasizing the importance of upholding environmental and land use laws.Read more

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Preserving Authenticity: Sikkim's move to restrict third-party rentals of homestays

14 Sep 2023

The government of Sikkim, a Himalayan state in India, has issued an advisory banning homestay owners from leasing or renting their properties to third parties. This directive, in accordance with the Sikkim Registration of Homestay Establishment Rules of 2013, requires that homestays be exclusively operated by the local entrepreneurs who own them. The move aims to promote local entrepreneurship and ensure compliance with established regulations. Any violations will be strictly addressed by the authorities. The Homestay Association of Sikkim had previously advocated for such a ban, and the state government also provides subsidized loans to encourage local participation in the tourism industry.Read more

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Bombay High Court takes strong stand against illegal constructions in Maharashtra

13 Sep 2023

The Bombay High Court has expressed deep concern over the proliferation of illegal constructions and urged the Maharashtra government to present solutions to address this issue. The court, which initiated action against an unauthorized building in Navi Mumbai, emphasized the need to end the era of tolerating such developments and send a strong message that they won't be tolerated. It noted that individuals often obtain stays against actions by civic authorities through civil courts, calling for an immediate halt to such manoeuvres. The court sought answers from the government and instructed the court receiver to take possession of the illegal building.Read more

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Delhi High Court demands explanations on unauthorized constructions in Southern Ridge Forest

13 Sep 2023

The Delhi High Court has ordered the state government, MCD, and DDA to provide a detailed explanation for permitting new constructions in the ecologically sensitive Southern Ridge forest area, including the controversial 'Risland-Sky Mansion' housing project. The court's directive follows revelations of illegal construction activities in the Chattarpur area within the Southern Ridge. This action stems from PILs addressing poor air quality in Delhi, with an appointed amicus curiae offering expert insights.Read more

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Yamuna Authority's board meeting to address key proposals for allottees

13 Sep 2023

The upcoming board meeting of the Yamuna Authority scheduled for today will address several crucial proposals. One of these proposals aims to provide relief to around 1,600 allottees affected by the cancellation of two housing schemes. They will be charged only for the period of their transition to the new scheme, reducing penalties for delayed payments. The board will also consider offering successful flat scheme allottees the option to participate in the plot scheme and plans for a 150-bed old-age home, with 50 beds for the sick and disabled. Changes to the group housing scheme, modifications to data centre park plots, and a one-time settlement for certain allottees will also be discussed. Additionally, a revised detailed project report for the proposed heritage city in Mathura-Raya is on the agenda.Read more

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