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

SC refuses to stay allocation of house sites in Amaravati

PNT Reporter

25 May 2023

The Supreme Court has ruled that the allocation of house sites in the R5 zone of Amaravati to the poor is contingent upon the final judgment of the AP high court. The court refused to grant a stay on the allocation, stating that third-party rights are also subject to the high court's decision. The farmers of Amaravati argued that the government had changed the master plan and allocated housing sites in non-residential zones. The court has been urged to impose a stay on the R5 zone until the Amaravati petitions are heard in July 2023.Read more

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Mohali Development Body fined, directed to allocate plot or refund money

PNT Reporter

24 May 2023

The Greater Mohali Area Development Authority (GMADA) has been found responsible for not fulfilling its obligation to provide a plot with promised amenities within the specified timeframe. As a result, the Punjab State Consumer Disputes Redressal Commission has ordered GMADA to either hand over possession of the plot or refund the money. In addition, the authority has been fined Rs 40,000 as compensation for causing mental distress and harassment, as well as covering the costs of litigation.Read more

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Ahmedabad's Building Boom: 560 projects approved, Rs 1,184 crore revenue surge

PNT Reporter

24 May 2023

The Ahmedabad Municipal Corporation (AMC) experienced a surge in project approvals and revenue collection during a period between March 1 and April 15. A total of 560 projects were approved, resulting in a substantial amount of Rs 784 crore collected from developers through chargeable Floor Space Index (FSI) and other fees. This influx of revenue can be attributed to the announcement of the jantri revision, which led developers to seek approvals based on the old rates to minimize costs. The relaxation of chargeable FSI for affordable housing projects further accelerated the rush among developers.Read more

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Premium on transfer of slum flat to dip to Rs 50,000: Maharashtra deputy CM

PNT Reporter

24 May 2023

The state government of Maharashtra, India, has announced several measures to streamline the process of slum redevelopment and promote self-redevelopment. These include reducing the premium for transferring slum redevelopment flats, making it mandatory for builders to pay one year's rent in advance, organizing camps for Deemed Conveyance, waiving the increase in service charges for housing societies, and considering the abolition of non-agricultural tax on housing societies. These initiatives aim to expedite redevelopment procedures, provide financial relief to residents, and improve housing community management in the state.Read more

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SC clarifies that West Bengal RERA will hear realty plaints lodged with HIRA

PNT Reporter

24 May 2023

The West Bengal Real Estate Regulatory Authority (WBRERA) will now continue with all pending complaints filed by home buyers against developers that were previously under the jurisdiction of the now-defunct West Bengal Housing Industry Regulatory Authority (WBHIRA). The Supreme Court clarified this while hearing a special leave petition (SLP) on May 12, stating that all orders issued by WBHIRA will remain valid. However, individuals who are dissatisfied with WBHIRA's orders can seek recourse before WBRERA.Read more

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Panchkula slum-dwellers to get one marla plot or flat

PNT Reporter

23 May 2023

Haryana Assembly Speaker Gian Chand Gupta has revealed a plan to provide 1 marla plots or flats to residents of slums and shanties. The proposal, discussed with senior officials, awaits approval from the Chief Minister. The plan aims to address the increasing number of slums in the city and fulfil promises previously unmet. Gupta also reviewed existing rehabilitation schemes and urged action against illegal encroachments. The initiative demonstrates the government's commitment to improving living conditions for slum dwellers in Haryana.Read more

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MahaRERA approves deregistration of 2 out of 60 project applications

PNT Reporter

23 May 2023

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has permitted the deregistration of two real estate projects out of a total of 60 applications received. In February, developers were given the option to deregister their projects under specific conditions due to difficulties in commencing and completing construction. The deregistration is only allowed for projects with no homebuyers or if the rights and claims of existing homebuyers are settled. While two projects have been approved for deregistration, the remaining 58 applications are currently under review.Read more

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MahaRERA struggles with 7,000 unresolved cases

PNT Reporter

22 May 2023

MahaRERA, the homebuyers regulatory body, is grappling with a backlog of almost 7,000 cases out of 21,274 filed to date, causing significant distress for homebuyers. Lack of adequate staff is cited as the primary reason for this delay, with only two members, including the chairman, currently hearing complaints. Despite appeals, the state government has yet to fill these vacancies. Homebuyers are now calling for immediate action to ensure swift resolution of their pending cases.Read more

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Panchkula civic body to start drive against illegal gates of houses

PNT Reporter

22 May 2023

The Panchkula Municipal Corporation (MC) has announced its plans to take action against residents who have illegally constructed entry/exit gates on the backside of their houses, leading towards roads. Officials will conduct house inspections across all sectors. Defaulters will be issued a notice and be given a one-week grace period to comply, failing which the MC will resort to cutting off the water supply to these houses. This measure aims to ensure compliance with the regulations and discourage the construction of illegal entry/exit points.Read more

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Applications for fire mitigation certificates off to slow start in Hyderabad

PNT Reporter

22 May 2023

The Greater Hyderabad Municipal Corporation (GHMC) has introduced fire mitigation certificates for commercial establishments following a series of fire accidents. However, many owners are unaware of this requirement, resulting in a poor response. The EVDM has created a website for certificate applications, and eligible buildings must meet specific fire safety installations. The initiative aims to enhance safety and prevent future incidents. Awareness and compliance are essential to protect lives and properties in Hyderabad.Read more

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