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

Affordable Housing: Delhi government to renovate and allot 52,000 unused flats to slum-dwellers

The Delhi government has announced plans to renovate and allot 52,000 long-abandoned flats to slum-dwellers, aiming to improve urban housing and uplift underserved communities. Funded by INR 700 crore, the Delhi Urban Shelter Improvement Board (DUSIB) will oversee renovations and ensure access to clean water, parks, and toilets. These flats, built under the Jawaharlal Nehru National Urban Renewal Mission since 2008, have largely remained unoccupied and deteriorated, with only 4,833 allocated to date. Chief Minister Smt Rekha Gupta framed the initiative as a shift from past neglect, promising real support for vulnerable residents while also generating employment through the large-scale refurbishment effort.Read more

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NGT directs GNIDA to take action against illegal constructions in Greater Noida and Noida

The National Green Tribunal (NGT) has directed the Greater Noida Industrial Development Authority (GNIDA) to take action against ongoing illegal constructions in violation of environmental norms. The order follows a petition alleging that numerous houses, shops, and commercial establishments were being built without the necessary green clearances in Greater Noida and Noida. Despite previous directives in December 2024 to halt such projects, illegal constructions continued. The NGT has asked GNIDA to identify these projects and enforce appropriate action, with a comprehensive report to be filed by the authorities.

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BMC to reissue eviction notice to Century Mills tenants, sets 15-day deadline

The Brihanmumbai Municipal Corporation (BMC) plans to issue a fresh eviction notice to 675 tenants of Century Mills in Worli, asking them to vacate within 15 days. This follows claims from tenants that they never received the original notice sent in February 2025. The move is linked to a redevelopment plan for the INR 660 crore plot, leased to Century Textiles and Industries Ltd. in 2005. There remains no clarity on tenant rehabilitation, despite past legal disputes and a 2022 Bombay High Court ruling supporting BMC's stand.

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Projects with Pre-RERA Occupancy Certificate applications exempt from Karnataka RERA registration

The Karnataka Real Estate Regulatory Authority (KRERA) has clarified that real estate projects that applied for an Occupancy Certificate (OC) before the Real Estate (Regulation and Development) Act (RERA) was implemented in the state are not required to register under KRERA. This decision emerged from a case involving the Hamilton Homes project by SJR Prime Corporation in Bengaluru's Electronic City. Despite homebuyers' complaints about incomplete flats and missing infrastructure, KRERA referenced a Karnataka High Court ruling stating that projects with OC or partial OC applications submitted before RERA's enforcement are exempt from registration. Consequently, KRERA dismissed the homebuyers' complaint, affirming that such projects are not obligated to register under the Act.

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Land survey centres launched in Nagpur and Kamptee to improve property services

The Maharashtra government has inaugurated new land survey centres in Nagpur and Kamptee to streamline property-related services and reduce public inconvenience. These centres will provide mutation, demarcation, and measurement services under one roof, all at government-prescribed rates. Equipped with trained staff and digital tools, the facilities aim to enhance transparency and efficiency in land management. Citizens are expected to benefit from faster processing and fewer procedural hurdles. This initiative is part of the broader digitisation of land records and public service delivery.

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Maharashtra grants land ownership to Partition-era Sindhi refugees

Over 70 years after Partition, Sindhi families who migrated from West Pakistan to Maharashtra are set to receive long-awaited ownership rights to the lands they settled on. The state cabinet has approved a special one-year amnesty scheme to regularize land leases in 30 designated areas (excluding Ulhasnagar). The scheme grants freehold status at a concessional rate, benefiting an estimated five lakh people. Residential properties up to 1,500 sq ft will be charged a 5% premium of the Ready Reckoner Rate (RRR), while commercial properties will pay 10%. For larger properties, the rate will double. Revenue Minister Chandrashekhar Bawankule said the scheme may be extended if needed.Read more

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CREDAI-MCHI and PEATA urge Maharashtra government to restore access to online property database

CREDAI-MCHI and the Practising Engineers, Architects, and Town Planners Association (PEATA) have urged Maharashtra Deputy Chief Minister Shri Eknath Shinde to reinstate online access to critical property and layout databases that recently went offline. These digital tools-previously available on the MHADA and district collector's websites-were essential for architects, developers, and citizens in verifying details and streamlining construction approvals. The sudden blackout has disrupted operations, forcing users to rely on time-consuming manual processes and outdated records, significantly affecting transparency and project timelines across Mumbai.Read more

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Mumbai: Supreme Court clears path for Chembur slum rehab towers, rejects AAI plea on height clearance

The Supreme Court dismissed a special leave petition filed by the Airports Authority of India (AAI) against a Bombay High Court judgment that permitted increased building heights in a slum rehabilitation project in Chembur, Mumbai. The High Court had directed AAI to issue a No Objection Certificate (NOC) for the height clearance after an appellate committee had already approved the plan. AAI argued it would face hardships without reversing the HC verdict, but the apex court refused to interfere. The project involves 30 towers, including rehabilitation and free-sale buildings, developed under a joint venture.Read more

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Mumbai Real Estate: Slum redevelopment in MMR gets faster with new 60-day rule

In a push to accelerate slum redevelopment across Maharashtra, the state cabinet approved key amendments to the Maharashtra Slum Area (Reform, Elimination and Rehabilitation) Act, 1971. The revisions shorten the timeline for submitting redevelopment proposals, empower authorities to reassign projects if deadlines are missed, and streamline land leasing for joint ventures in the Mumbai Metropolitan Region (MMR). New provisions will also address non-participation by slum dwellers and delayed rent payments by developers. These amendments aim to fast-track the state's goal of becoming slum-free while ensuring better enforcement and accountability in rehabilitation schemes.Read more

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Karnataka Home Buyers Forum urges RBI to investigate bank practices affecting homebuyers

The Karnataka Home Buyers Forum (KHBF) has called on the Reserve Bank of India (RBI) to investigate complaints against nationalised and private banks, accusing them of failing to protect homebuyers' interests. Issues include banks not verifying project titles, releasing full payments to promoters without proper checks, and not enforcing compliance with RERA regulations. The KHBF also highlighted that some banks are sanctioning loans without validating essential documents like the Occupancy Certificate or ensuring proper title transfer to residents' associations. The forum has urged the RBI to issue guidelines to prevent such irregularities.

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