Kotak Mahindra Bank: RLLR: 0.75 | From: 8.7% - To: 10.5%
Union Bank of India: RLLR: 0.5 | From: 8.5% - To: 10%
Bank of Baroda: RLLR: 0.5 | From: 9.25% - To: 11%
HDFC Bank: RLLR: 0.75 | From: 8.5% - To: 8.8%

Location : Shimla

Tunnel work halted in Shimla after road cave-in and complaints of house cracks

A road stretch in Shimla's Bhattakufar area caved in recently, reportedly linked to ongoing tunnel construction for the Kaithlighat-Dhalli four-lane project. A schoolgirl fell into the pit and was rescued, and a Himachal Road Transport Corporation bus was stuck at the spot. The district administration stopped construction, sought detailed reports from senior officials and raised concerns with the State Disaster Management Authority. Residents had earlier complained about cracks in their homes. The administration plans to involve the Survey of India, while police have registered a negligence case against the project contractor.Read more

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Shimla to build world's second-largest urban ropeway with INR 1,734 crore investment

Shimla will soon host the world's second-largest urban ropeway system, a 13.79 km network aimed at easing traffic and boosting eco-friendly transport. Backed by a INR 1,734.70 crore investment from the Himachal Pradesh government and the New Development Bank, construction will begin in March 2025 and finish within five years. Featuring 13 stations across key city points, the system will initially handle 2,000 passengers per hour, expandable to 6,000 by 2059. Designed as a carbon-neutral project with solar integration, the initiative is expected to create over 20,000 jobs and marks a major step toward sustainable urban development in Shimla.Read more

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Shimla Municipal Body approves a 4 percent property tax hike

Despite opposition from councillors, the Shimla Municipal Corporation approved a four percent increase in property tax during its recent monthly meeting at Bachat Bhawan. The proposal to raise taxes based on a new formula faced resistance, while concerns were raised about Rs 40-crore grant. A similar tax system is recommended nationwide to mitigate potential grant cuts. Taxes will increase annually based on the state's five-year GDP average, with a four percent rise this time. The Municipal Corporation will issue two tax bills annually for the first time, impacting over 30,000 building owners and generating around Rs 1 crore additional revenue.Read more

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New regulations for building construction approved in Shimla Development Plan

The Himachal Pradesh cabinet has approved the final draft of the Shimla Development Plan, which introduces new regulations for building construction. The plan allows for specific floor and attic allowances based on different areas within Shimla. However, its implementation is subject to the approval of the National Green Tribunal (NGT), which has imposed restrictions on construction activities. The cabinet also decided to reorganize the recruitment process, with the Himachal Pradesh Public Service Commission taking over responsibilities previously held by the disbanded Himachal Pradesh Staff Selection Commission.Read more

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