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%

Law & Policy

BMC halts Malabar Hill project over Walkeshwar Road narrowing concerns

Following public outcry over the narrowing and lowering of Walkeshwar Road in Malabar Hill, the BMC has issued a stop-work notice to developer Dilip Chunilal Chandan and architect Preeti Kashyap Barai. The April 26, 2025 notice cites unauthorized construction at a site on CS 156, which reportedly lacks proper approvals as per amended building plans. The BMC has halted all work until the City-I Building Proposal Department reviews concerns about the altered road level and reduced width. The developer has been given 24 hours to present valid permissions or face demolition and removal of materials. Local police have been instructed to enforce the order immediately.Read more

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Navi Mumbai: Panvel society under fire for illegal occupancy and free water misuse

The Panvel City Municipal Corporation (PCMC) has issued eviction notices to all 96 flat owners of Pioneer Co-operative Housing Society (CHS) for lacking an Occupancy Certificate (OC), rendering the building illegal for residence. Occupied since 2017, the 12-storey building failed to secure necessary approvals like TDR and met with repeated non-compliance despite prior notices. PCMC has also incurred a loss of INR 18.54 lakh by supplying free water tankers since 2023, reportedly under political pressure, despite the society defaulting on water tax payments. While residents face eviction, no action has yet been taken against the builders or architects responsible for the violations.Read more

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UP to launch new housing projects across 12 districts from June 2025

The Uttar Pradesh government will launch new housing projects in 12 districts, including Lucknow, Agra, and Kanpur, between June and December 2025 under the Mukhyamantri Urban Expansion/New City Promotion Scheme. CM Shri Yogi Adityanath emphasized adherence to timelines and quality, expedited building map approvals, and GIS-based master plan approvals by month-end. Updates on metro projects in Kanpur, Agra, and Lucknow were reviewed. Public suggestions on new bylaws are invited till May 30. The three-month action plan includes DPR for UP-SCR and revised township policy guidelinesRead more

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Chennai: GCC issues new rules to manage dust and debris at construction sites

The Greater Chennai Corporation (GCC) has recently imposed strict regulations aimed at reducing dust emissions from construction activities in response to rising air pollution levels. Builders are now required to install high barricades, utilize dust suppression techniques, and ensure proper waste management. Non-compliance could result in fines ranging from INR 10,000 to INR 500,000, depending on the project's scale and severity of violations. The GCC has also mandated 24/7 CCTV surveillance for high-rise constructions to monitor adherence. These measures aim to address the daily generation of approximately 800 metric tonnes of construction and demolition waste in the city.Read more

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Supreme Court to revisit Amrapali homebuyers' case with new bench in July

The Supreme Court has scheduled the next hearing of the Amrapali Group case for July, with a new bench to be appointed in light of Justice Bela M Trivedi's impending retirement. The current bench stressed the need to bring the years-long litigation to a close. Key issues include unresolved directions from the 2019 verdict, especially relating to fund recovery from former Amrapali officials. NBCC has completed over 25,000 flats and sold nearly 2,000 units, though concerns persist over buyers failing to take possession. The court has warned that unclaimed units may be resold if allottees remain inactive.Read more

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Shine City promoter declared fugitive in INR 1,000 crore real estate fraud case

A special court in Lucknow has declared Shine City Group promoter Rashid Naseem a fugitive economic offender under the FEOA 2018, following allegations of INR 800-1,000 crore fraud through real estate and MLM schemes. The Enforcement Directorate, acting on 554 FIRs filed in Uttar Pradesh, has attached assets worth INR 128 crore for confiscation. Naseem, absconding since 2019 and believed to be in Dubai, failed to respond to a Red Notice and non-bailable warrant. The ED's move aims to recover defrauded funds and deliver justice to investors, highlighting the critical need for regulatory oversight and investor caution in real estate ventures.Read more

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NGT issues show-cause notice to TDI City over sewage treatment violations

The National Green Tribunal has issued a show-cause notice to TDI City in Mohali over serious environmental violations, including non-functional sewage treatment plants (STPs) and illegal discharge of untreated wastewater. A joint inspection by the PPCB, CPCB, and local authorities found the township's STPs failed to meet BOD, TSS, and faecal coliform standards. Waste from a nearby colony was also found contaminating land owned by the Emaar Group. The NGT cited violations under the Water and Air Acts and warned of further regulatory action based on pending water analysis results. The case highlights growing concerns over STP failures across India.Read more

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Pune: PCMC cracks down on 184 housing societies over non-functional STPs

The Pimpri Chinchwad Municipal Corporation (PCMC) has issued final notices to 184 housing societies for failing to operate mandatory sewage treatment plants (STPs), as required under the Unified Development Control and Promotion Regulations (UDCPR) for large residential projects. Out of 456 eligible societies, 192 have non-functional or inactive STPs. The civic body has warned of water supply disconnections if compliance is not ensured. While PCMC urges sustainable water reuse, residents allege that faulty STPs were installed by builders and approved without proper checks. The issue has reignited debates over accountability in urban infrastructure and housing project clearances.Read more

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Supreme Court clarifies that property shares become self-acquired after joint family partition

The Supreme Court recently reaffirmed that upon the partition of a joint Hindu family, each member's share transforms into self-acquired property, granting them the absolute right to sell, transfer, or bequeath it. This landmark decision underscores the legal autonomy of individuals post-partition, emphasizing that such property no longer remains under the joint family system. Legal experts highlight that this judgment reinforces the principle that once a partition is legally executed, the property ceases to be joint, and each member gains full control over their designated share.Read more

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YEIDA halts Film City construction over missing layout approvals

The Yamuna Expressway Industrial Development Authority (YEIDA) has directed Bayview Bhutani Film City Private Limited, a consortium led by filmmaker Boney Kapoor and the Bhutani Group, to refrain from commencing construction or organizing any foundation-laying ceremonies for the proposed Film City in Sector 21 along the Yamuna Expressway. YEIDA emphasized that the developers must first secure approvals for the layout and building plans of the film studios and film institute, which are the core components of the project. The concession agreement, signed in June 2024, mandates the commencement of construction within one year, failing which a penalty of INR 1.5 lakh per day will be imposed.Read more

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