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

Goa Budget 2024-25: Government plans PPP-led rental housing zones

In its 2024-25 budget, the Goa government has eased norms for affordable and rental housing while tightening planning laws to curb illegal construction. Incentives such as faster approvals, reduced fees, and land-use relaxations aim to boost private participation in budget housing, especially in urban and semi-urban areas. Simultaneously, stricter enforcement-including penalties, demolitions, and digital land-use monitoring-will target unauthorised developments. The state also plans rental housing zones near industrial hubs like Verna and Mapusa, led by the Goa Housing Board and supported by PPPs. These measures seek to address the housing shortage while preserving Goa's ecological and cultural integrity amid increasing urbanisation pressures.Read more

cover photo

Goa panchayats directed to tackle illegal constructions following High Court mandate

The Directorate of Panchayats in Goa has directed village panchayats to identify and take action against illegal constructions in response to a recent High Court order. The directive, issued on March 19, categorizes unauthorized structures into different groups, including those along major roads, in municipal and panchayat areas used for commercial purposes, and on paddy fields. The move aims to ensure compliance with regulations and safeguard Goa's environment, with panchayats expected to enforce the necessary measures as per the court's instructions.

cover photo

Maharashtra government to launch statewide campaign to update 7/12 land title records

The Maharashtra government will roll out a statewide campaign to update 7/12 land title records from April 1, following a successful pilot in Chikhli, Buldhana district. State revenue minister Chandrashekhar Bawankule announced the initiative in the Legislative Council, highlighting its aim to update inheritance records for deceased landholders, easing agricultural transactions for heirs. An official order was issued on March 19 to implement the campaign across all districts, with a target completion time of approximately one and a half months. Bawankule urged council members to support the initiative by engaging local tehsildars and sub-divisional officers for effective execution.

cover photo

Housing Minister urges real estate agents to boost transparency for INR 85 lakh crore growth

During NAR-INDIA's annual convention, Housing and Urban Affairs Minister Shri Manohar Lal called on real estate agents to enhance transparency and trust in their dealings, vital for the sector's projected growth to INR 85 lakh crore by 2030. Highlighting agents as key intermediaries between developers and consumers, he stressed the adoption of global best practices and advanced technologies. Lal also referenced key reforms like the 2016 RERA law and the allowance of 100% FDI to boost the sector's efficiency and ease of doing business. He noted that by 2047, 50% of India's population will reside in urban areas, up from 35% currently.

cover photo

Gurugram cracks down on illegal commercial activities in DLF residential zones

The Department of Town and Country Planning (DTCP) has initiated strict action against illegal commercial operations in Gurugram's DLF phases 1-5, following a recent task force meeting led by the deputy commissioner. The district fire officer has been instructed to pursue legal action and submit a compliance report by April 19, 2025. The directive, aligned with a Punjab and Haryana High Court order, mandates the sealing of non-compliant properties and penalties for violators. A total of 614 residential plots, including 339 general and 275 EWS plots, have been unlawfully converted into commercial spaces, prompting concerns over fire safety, traffic congestion, and security risks.

cover photo

Demarcation of 1,075 acres of JDA land in Jammu still pending after 50 years

The Jammu and Kashmir government has yet to complete the demarcation and handover of 1,075 acres of land to the Jammu Development Authority (JDA), despite transferring over 10,122 acres to the agency nearly five decades ago. A total of 80,976 kanals (10,122 acres) were allotted to JDA, including nazool and state lands in Jammu and Samba districts. However, around 32,387 kanals are under water bodies, 12,202 kanals fall under forests, and 36,220 kanals are classified as agricultural and other land types. So far, 72,373 kanals (9,046 acres) have been demarcated, with 8,602 kanals (1,075 acres) still pending. The government plans to fence land once demarcation is finalized. A 2015-16 CAG report had flagged large-scale encroachments and urged immediate action. Since its inception in 1971, JDA has developed 14 housing colonies and regularised 31 unauthorized colonies over the years.

cover photo

MCG to file FIRs against violators resuming construction after seal breaches in Gurugram

The Municipal Corporation of Gurugram (MCG) will now register FIRs against property owners who tamper with seals placed on unauthorized constructions and resume work. The move follows multiple complaints, including a recent incident in Zone 2 where an owner broke the seal and restarted construction. MCG officials have been directed to conduct inspections and file police complaints in such cases. Under the Haryana Municipal Corporation Act, of 1994, illegal constructions must be identified, sealed, and demolished if necessary. Notable cases include a seven-story illegal structure sealed in Sector 39 in February 2024 and another violation reported in Sector 52 in October 2024, where unauthorized floors were being added beyond approved limits.

cover photo

ORERA fines Bhubaneswar realtor INR 62 lakh for violating parking order in Shankarpur project

The Odisha Real Estate Regulatory Authority (ORERA) has levied a fine of INR 62 lakh on a Bhubaneswar-based realtor for failing to provide proper car parking space to a homebuyer in a Shankarpur real estate project. This marks the first instance where ORERA has penalized a builder for inadequate parking. The penalty stems from the realtor's non-compliance with a September 2021 ORERA order, which directed the provision of a covered parking spot. The builder's appeal to the Odisha real estate appellate tribunal was dismissed. A subsequent site inspection in December 2024 confirmed that the allotted space was inaccessible and unfit for parking. Citing Section 63 of the RERA Act, ORERA calculated the penalty at INR 5,000 per day from September 2021 to date.

cover photo

LDA to hold special registration camp for unregistered properties in Lucknow

The Lucknow Development Authority (LDA) will organize an eight-day registration camp for its residential and commercial properties from March 24-29 at its Gomtinagar office. The initial six days will focus on document preparation, followed by the presence of registration department officials on April 2 and 3 to complete the registration process at the same location. The initiative, directed by LDA vice-chairman Prathamesh Kumar, aims to help allottees with unregistered properties. Those who have made full payments are being notified, while partial payers with over 80% dues cleared are urged to complete payments and register their properties.

cover photo

Madras High Court dismisses plea against Tidel Park construction in Madurai

The Madras High Court recently dismissed a petition challenging the construction of Tidel Park in Madurai. The petitioner, R. Mayilsamy, argued that the land was originally classified as a water catchment area. However, the court noted that the land had been reclassified in 1981 for a fertilizer yard and allotted for the Tidel Park project by the Madurai Corporation. Despite acknowledging the original classification, the court ruled that the reclassification, which occurred 44 years ago, allowed the construction to proceed.

cover photo