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

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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Supreme Court upholds objective of the Consumer Protection Act, warns against technicalities

PNT Reporter

22 May 2023

The Supreme Court made a significant statement emphasizing the purpose of the Consumer Protection Act of 2019, stating that it aims to promote consumerism in the country. The remarks were made in response to appeals challenging a previous order by the National Consumer Disputes Redressal Commission (NCDRC) regarding a housing project. The court highlighted the flexibility the Act provides to consumers in seeking redress and expressed concerns over the rigid interpretation of the law. The bench set aside the impugned orders and directed the national commission to expedite the hearing of the matters on their merits, reinforcing the significance of the Act.Read more

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Builders face uncertainty as Supreme Court stays Bombay High Court Order on recreation grounds

PNT Reporter

19 May 2023

The Supreme Court has put a hold on a Bombay High Court order allowing builders to have recreation grounds on the podiums of their towers. The High Court's ruling had provided relief to builders whose projects were affected by the National Green Tribunal's order that required recreational grounds to be open to the sky. The Supreme Court's decision came in response to a petition challenging the High Court's order. The final decision on the matter will be determined during a hearing scheduled for July 31.Read more

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MHADA Konkan Board Lottery: Overwhelming response highlights demand for affordable homes

PNT Reporter

19 May 2023

The Maharashtra Housing Board (MHADA) conducted its Konkan board lottery, offering 4,640 apartments and 14 plots. The event, held at Thane's Kashinath Ghanekar Auditorium, received an overwhelming response of 48,805 applications. MHADA implemented a computerized lottery system to ensure fairness and transparency. Chief Minister Eknath Shinde commended MHADA for fulfilling citizens' dreams of affordable housing. The live broadcast of the draw allowed approximately 47,194 people to witness the event. This successful lottery exemplifies MHADA's commitment to providing accessible housing solutions in Maharashtra.Read more

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Orissa High Court demands answers from ORERA over failure to recover money from builders

PNT Reporter

19 May 2023

The Orissa High Court has demanded a response from the Odisha Real Estate Regulatory Authority (ORERA) regarding allegations of failure to recover money from builders in disputes over possession and handover of flats. A Public Interest Litigation (PIL) was filed by a flat owner, highlighting ORERA's alleged neglect in executing court orders for money recovery. The court acknowledged an affidavit based on RTI information, revealing that no progress has been made in 53 cases related to money recovery. ORERA had sent these cases to the collector of Khurda, but civil courts have started returning them. ORERA cited a lack of necessary mechanisms to enforce orders, emphasizing the need for infrastructure.Read more

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Mumbai Police announces no NOC requirement for flat rentals, tenant information channels open

PNT Reporter

19 May 2023

Mumbai Police has announced that landlords do not need a No Objection Certificate (NOC) to rent out their properties. They have provided multiple ways for citizens to furnish tenant details, including an online application process. Landlords and tenants must ensure the accuracy of the information provided. The service is free, and any instances of bribery or malpractice should be reported to the police. The police also issued a preventive order to property owners, urging them to disclose tenant information through the Mumbai Police's citizen portal. These measures aim to maintain public safety and peace in the city.Read more

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Maharashtra's Co-operatives Commissioner promotes transparency and grievance redressal in housing societies

PNT Reporter

18 May 2023

The Cooperatives Commissioner of Maharashtra, Anil Kawade, has issued an advisory to housing societies in the state to promote transparency, efficiency, and effective grievance resolution. The advisory includes instructions such as limiting auditors' tenure, computerizing society information, and mandating timely meeting minutes. Kawade suggests setting up an advisory committee, promoting local complaint resolution, and establishing a clear hierarchy for escalating complaints. He also proposes the registration of a Federation of Housing Institutions to assist societies.Read more

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Unauthorized Construction: Gurugram's DTCP seals multiple properties

PNT Reporter

18 May 2023

The Department of Town and Country Planning (DTCP) has sealed five residential buildings in Gurugram for violating building norms, including three in DLF 1 and 2 and two in South City 2. An office in the parking lot of an affordable housing project was also sealed. The violators had carried out unauthorized construction in the buildings after procuring occupation certificates from the department. The action was taken on the basis of complaints filed on the CM's online complaint window. The DTCP's enforcement team carried out the sealing drive after issuing show cause notices and restoration orders in all cases.Read more

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Odisha RERA contemplates fee exemption for affordable housing projects

PNT Reporter

18 May 2023

The Odisha Real Estate Regulatory Authority (ORERA) may waive the registration and late registration fees for affordable housing projects in the city. The state's Housing and Urban Development Department has requested ORERA to exempt authorities from paying the fees until amendments are made in the Odisha Real Estate (Regulation and Development) Rules, 2017. The government has proposed an amendment to exempt affordable housing projects from paying the fees, which is currently under process. As an interim measure, the department has proposed an affidavit from the Bhubaneswar Development Authority to exempt affordable housing projects from paying the fees.Read more

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CHB finalizes plans for Self-Financing Housing Scheme in Chandigarh's Sector 53

PNT Reporter

18 May 2023

The Chandigarh Housing Board (CHB) has received final approval to launch its Sector 53 Housing Scheme. The scheme will now offer a total of 372 flats, including 32 additional units in the Economically Weaker Section (EWS) category. The online application process will be simplified, and applicants will not be required to submit documents initially. The cost of the flats will be recovered in five instalments with an interest rate of 12% per annum. Additionally, the CHB plans to introduce a standardized design for lifts in multi-storied units to streamline the construction process.Read more

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