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

Uttar Pradesh government to establish colonies for flood-affected residents in embankment areas

07 Sep 2023

Uttar Pradesh Chief Minister Yogi Adityanath has announced plans to establish colonies for flood-affected residents in embankment areas who wish to relocate to safer regions. He conducted surveys in Barabanki and Gonda districts, assuring government support and relief efforts for those affected. Additionally, he emphasized the need for a permanent solution to address recurring floods and pledged compensation for farmers whose crops were damaged.Read more

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Bombay High Court issues notice to Central Government over Kandivali construction dispute

07 Sep 2023

The Bombay High Court has issued a notice to the Central government regarding objections raised against a residential project in Kandivali. The dispute revolves around the requirement for a No Objection Certificate (NOC) from officers at the Central Ordnance Depot (COD) for the project's approval. The petitioner argues that their project is almost 80 meters away from the defence establishment, well beyond the 10-meter restriction mentioned in the Centre's 2016 circular. They allege unequal treatment compared to other developers and claim that this violates the right to equality. The HC has set a date for a response from relevant parties, including the Defence Ministry and SRA.Read more

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Demand surges for plots near Noida International Airport in YEIDA Scheme

07 Sep 2023

The Yamuna Expressway Industrial Development Authority (YEIDA) has witnessed an overwhelming response to its residential plot scheme near the upcoming Noida International Airport. The scheme, launched on August 8, offers 1,184 plots in various sizes, and it has garnered massive interest with 1.73 lakh users registering and 1.1 lakh applications submitted. The plots are situated in Sectors 16, 17, and 20, with prices set at Rs 24,600 per square meter. YEIDA plans to allocate the plots through a draw of lots on October 18, giving preference to those who have paid the 10% earnest money deposit. This surge in interest is attributed to the rapid development of the Noida International Airport and associated infrastructure projects.Read more

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Errors in beneficiary list complicate relocation of P&T colony residents in Kochi

07 Sep 2023

Authorities in Gandhinagar face complications as errors in the beneficiary list have emerged during the planned relocation of P&T Colony residents to a new apartment complex. At least five renters were mistakenly included among the 83 beneficiaries, prompting the need for a fresh list and potential investigations into property dynamics. Despite these challenges, the Greater Cochin Development Authority remains committed to completing the relocation within a fortnight, with substantial government funding supporting the project.Read more

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West Bengal Chief Minister invites CREDAI to capitalize on state's new land policy

07 Sep 2023

The Chief Minister of West Bengal, Mamata Banerjee, has invited the Confederation of Real Estate Developers' Associations of India (CREDAI) to take advantage of the state's new land policy, which now focuses on freehold land. She aims to facilitate property development and streamline clearance processes. Banerjee emphasized that the state has a substantial land bank, encouraging CREDAI to participate in logistics and manufacturing cluster projects, as well as affordable housing for economically weaker sections. She also urged CREDAI to take action against developers who fail to deliver on promises and suggested the possibility of blacklisting such developers.Read more

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Bombay High Court orders MHADA to limit NOC requirement stance for reconstruction

06 Sep 2023

The Bombay High Court has issued a directive to the Maharashtra Housing and Area Development Authority (MHADA) to bypass the requirement of obtaining a No Objection Certificate (NOC) from any prior developer or architect for a collapsed building in Kherwadi Bandra (East). The building, known as "Govinda Tower," collapsed 25 years ago, claiming 33 lives. Justices Gautam Patel and Kamal Khata expressed their dismay over the extended delay in addressing the matter and instructed MHADA to determine a new developer and present a proposal for reconstruction. The court emphasized the importance of the society itself selecting the developer and directed the society to be joined as a respondent. The case will reconvene on October 3 to address other related petitions seeking an investigation into the building's collapse, liability assignment, and compensation.Read more

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Managing Director of Bajwa Developers arrested again on cheating charges

06 Sep 2023

Jarnail Singh Bajwa, the managing director of Bajwa Developers, has been arrested by the Crime Investigating Agency (CIA) of Mohali police on charges of allegedly cheating customers. This arrest follows a complaint by a customer who accused Bajwa of engaging in fraudulent activities related to the sale of a plot in Kharar, Punjab. The customer alleged that despite making full payment, Bajwa failed to deliver the promised plot and engaged in misleading practices. Bajwa had faced legal troubles in the past, including arrests and being declared a proclaimed offender in cheque bounce cases. Customers who have invested in Bajwa Developers' projects will be closely watching the legal proceedings.Read more

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Bengaluru civic authority cracks down on unauthorized hoardings by builders

06 Sep 2023

The Bruhat Bengaluru Mahanagara Palike (BBMP) in Bangalore is cracking down on unauthorized flex banners, particularly those outside under-construction real estate properties, as part of a broader campaign against illegal signage. During this effort, BBMP officials have filed numerous complaints and FIRs against violators, including real estate developers. While penalties for banner violations are in place, activists argue that political will is necessary to address this issue effectively. They suggest considering stricter measures, like temporarily revoking advertising rights, and exploring alternative methods such as electronic displays for advertisements to combat the persistent problem of unauthorized banners.Read more

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Petitioners from 'Bengali House' urge BMC for resolution on delays and transit rent

06 Sep 2023

The Bombay High Court has criticized the Brihanmumbai Municipal Corporation (BMC) for its lack of organized oversight in the redevelopment of its properties and called for the establishment of clear guidelines or regulations to address this issue. The court's comments came during a hearing on petitions filed by former residents of a BMC-owned property, highlighting issues like non-payment of transit rent and significant delays in redevelopment. The judges emphasized the need for a structured development supervision system, similar to those used by other authorities, to ensure transparency and efficiency in BMC-owned building redevelopment projects. The court's recommendations aim to improve governance and accountability in urban development initiatives.Read more

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Bombay High Court directs SRA nodal officers to address transit rent related issues within 30 days

05 Sep 2023

The Bombay High Court has issued directives to newly appointed Slum Rehabilitation Authority (SRA) nodal officers to ensure prompt action on complaints related to the non-payment of transit rent during the redevelopment process. These directives come in response to Public Interest Litigations (PILs) filed in 2019 regarding the non-payment of transit rent to eligible slum-dwellers, particularly in projects by Omkar Realtors and Developers Pvt Ltd. The court has mandated transparency, requiring the SRA to report on the number of complaints received and resolved. The court's intervention aims to expedite the resolution of transit rent disputes and hold relevant parties accountable, including developers and the SRA.Read more

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