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

Kerala HC strikes down INR 100/sq. ft fee for buildings on converted paddy lands

The Kerala High Court has invalidated the INR 100/sq. ft fee on buildings exceeding 3,000 sq. ft on converted paddy lands, deeming it in violation of the Kerala Conservation of Paddy Land and Wetland Act, 2008. Justice C. P. Mohamed Nias ruled that the fee lacked legislative backing, mandating the government to refund collected amounts within four months and process pending building permits within six weeks. The court emphasized that fees are permissible only for land conversion regularization. This landmark ruling eases financial burdens on landowners, prompting discussions on balancing urbanization and agricultural conservation in Kerala's land management strategies.Read more

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Gram Chaupals boost PMAY-R beneficiary selection with tech-driven transparency

Gram Chaupals, weekly village meetings held under the Pradhan Mantri Awas Yojana (Rural) (PMAY-R), are revolutionizing beneficiary identification by addressing local issues directly within communities. Complemented by tools like the Awas Plus and PMAY Mobile Apps, these gatherings enhance transparency and simplify housing assistance applications. Villagers can now apply online, with document verification streamlined at the Tehsildar's office. This grassroots model educates residents about PMAY-R benefits, empowering them to access housing schemes efficiently. Already improving living conditions across Uttar Pradesh's rural areas, the initiative serves as a scalable blueprint for other states aiming to strengthen rural development programs.Read more

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Delhi consumer court orders VSR Infrastructure to refund INR 2.4 crore for 11-year delay

The Delhi State Consumer Disputes Redressal Commission has directed VSR Infrastructure to refund INR 2.4 crore to complainant Nirmal Satwant Singh for an 11-year delay in delivering flat units in the 114 Avenue project. Additionally, the commission awarded INR 5 lakh for mental agony and INR 50,000 in litigation costs. Singh booked three units in 2013, paying INR 2.4 crore, but faced indefinite delays despite assurances. Rejecting VSR's defense, the commission deemed the delay a service deficiency and criticized the developer's failure to honor commitments. The ruling highlights the importance of consumer rights in real estate and accountability for developers.Read more

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Mumbai: BMC retains 5-acre Lower Parel plot as SC reverses Bombay HC ruling

The Supreme Court upheld the Brihanmumbai Municipal Corporation's (BMC) ownership of a INR 660 crore, five-acre plot in Lower Parel, reversing a Bombay High Court ruling favoring Century Textiles (now Aditya Birla Real Estate). The land, leased in 1927 for worker housing, was intended to revert to the BMC after the lease expired in 1955. Century Textiles' 2017 ownership claim was dismissed, with the court emphasizing its worker welfare purpose. BMC officials plan development under Regulation 35 of the Development Control and Promotions Rules to benefit mill workers. The ruling underscores the importance of community-focused urban planning amid rising commercial pressures.Read more

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Kerala commission eases electricity connections for residents of delayed housing projects

The Kerala State Electricity Regulatory Commission (KSERC) has amended the Kerala Electricity Supply Code to assist residents of indefinitely delayed or abandoned apartment and villa projects. The amendment allows these residents to apply for individual electricity connections at a reasonable cost. KSERC's decision aims to address issues where developers failed to complete projects or disputes hindered access to electricity. The order outlines a cost-sharing model, with expenses calculated based on connected load and shared proportionally among beneficiaries. The licensees will maintain the internal distribution network and can recover costs through annual accounts until all beneficiaries contribute.Read more

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Supreme Court calls for action on unclaimed Amrapali flats, highlights buyer non-compliance

The Supreme Court expressed concern over home buyers failing to take possession of flats in Amrapali projects, being completed by NBCC. The court directed the court receiver to file a status report on unsold flats and unresponsive buyers. The Greater Noida authority granted approvals for additional flats in some projects, while others await compliance from NBCC. Environmental clearances for these projects were also ordered to be expedited. The court addressed financial challenges, noting NBCC's need for INR 500 crore for completion and disputes over delayed possession of flats. Pending petitions related to the Amrapali project were disposed of, allowing petitioners to seek legal recourse if required.Read more

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Haveri initiates 9-month digital transformation to secure 27000 land records under Bhu Suraksha

Haveri taluk administration has launched a nine-month digital transformation project under the Bhu Suraksha scheme to secure over 27,000 revenue documents and curb property fraud and forgery. The initiative prioritizes digitizing critical A and B category land records, including land grants and acquisition documents, through a phased process spanning 209 offices. Key features include the integration of Aadhaar with land records, statewide database creation, and modern record rooms in each taluk. Deputy Commissioner Vijay Mahantesh Denammanavar emphasized the project's potential to enhance transparency, accessibility, and security for property transactions, marking a pivotal step in modernizing governance and reducing corruption risks.Read more

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NGT warns Odisha of heavy fines over illegal construction at Tampara Lake Ramsar site

The National Green Tribunal (NGT) has warned Odisha state authorities, including the chief secretary, of heavy fines over illegal constructions at Tampara Lake, a Ramsar site in Ganjam district. The NGT criticized the state's inaction, noting a 16-month delay in responding to a petition by the Wildlife Society of Orissa (WSO) seeking the removal of illegal structures. The constructions, reportedly part of the Swadesh Darshan scheme, lack environmental impact assessments and necessary approvals. Tampara Lake, vital for biodiversity and tourism, faces ecological risks. The NGT's firm stance highlights the urgency of safeguarding ecologically sensitive areas against unregulated development.Read more

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MahaRERA limits SRO representatives' tenure to two years

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has introduced a two-year tenure limit for representatives of Self-Regulatory Organisations (SROs) to prevent conflicts of interest and ensure domain expertise. The move aims to streamline the registration process for housing projects by appointing specialists in legal, financial, and technical matters. MahaRERA has instructed the seven recognised SROs, including NAREDCO West Foundation and CREDAI-MCHI, to replace representatives exceeding the tenure limit. The decision underscores the regulator's commitment to ensuring efficient project scrutiny and expeditious issuance of registration numbers.Read more

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Mumbai proposes parking proof for new vehicle registrations to tackle congestion

The Mumbai Metropolitan Region is addressing traffic and pollution challenges with a Certified Parking Area (CPA) policy requiring proof of parking for new four-wheeler registrations. Proposed by state transport commissioner Vivek Bhimanwar, the plan involves CPA certificates issued by the BMC and aims to curb congestion and promote urban mobility. Inspired by global models from cities like London and Tokyo, the policy will roll out alongside improved public transport. While experts warn of challenges, including parking disparities and potential misuse by builders, authorities are seeking public feedback to refine the policy. The initiative is a step toward sustainable urban living in Mumbai.Read more

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