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

UP-RERA imposes INR 14.41 crore penalty on Ansal Properties for unregistered sales in Lucknow

The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) has fined Ansal Properties INR 14.41 crore for executing 329 sale deeds in unregistered areas of Sushant Golf City, Lucknow, violating Section 3 of the RERA Act. Despite multiple notices and hearings, Ansal Properties failed to provide satisfactory responses. The penalty, calculated at 10% of the sales' estimated cost, must be paid within 30 days. Concurrently, UP-RERA has launched mandatory training for real estate agents to enhance compliance and ethical standards. This dual approach reflects UP-RERA's commitment to ensuring accountability, protecting buyers, and fostering professionalism in Uttar Pradesh's real estate market.Read more

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Bengaluru: BBMP enforces new A-khata regulations for property owners

The Bruhat Bengaluru Mahanagara Palike (BBMP) has revised A-khata issuance rules following an amendment to Section 17 of the Karnataka Town and Country Planning Act, 1961. Individual plots now require planning authority approval to qualify for A-khatas, replacing the earlier system under the Karnataka Land Revenue Act, 1964. The BBMP will also mandate compliance for subdivision or unit-specific A-khatas. This regulatory shift aims to streamline urban planning, prevent unauthorized land use, and promote sustainable development in Bengaluru. Property owners must secure necessary approvals to avoid legal complications, marking a critical step toward better-organized and compliant urban growth.Read more

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Patiala Development Authority cracks down on unauthorized colonies for sustainable growth

The Patiala Development Authority (PDA) has intensified its efforts to curb unauthorized colonies, recently demolishing illegal developments in Seona and Balbehra villages under the Punjab Apartment and Property Regulation Act, 1995. Led by Chief Administrator Manisha Rana and Additional Chief Administrator Jashanpreet Kaur Gill, the PDA aims to protect public investments and ensure legal compliance in urban planning. Developers of illegal colonies face strict action, including FIRs if they fail to comply with notices. The PDA plans to launch public awareness campaigns on property regulations, emphasizing safe investments and sustainable growth, setting a benchmark for regulated urban development in Punjab.Read more

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MHADA launches amnesty program to ease occupancy certificate delays for housing societies

MHADA has launched an amnesty program to assist 80 housing societies in obtaining delayed occupancy certificates (OCs) for renovated structures. The initiative waives interest on outstanding premium differential amounts, requiring societies to pay only the principal, while offering a 75% penalty concession for unauthorized constructions under 1991 DC regulations. Additionally, MHADA reformed its policy to align property taxes and maintenance fees with possession dates, relieving residents of premature financial burdens. Running until April 10, 2025, the program aims to expedite redevelopment and OC issuance, offering significant financial and procedural relief to societies across Maharashtra.Read more

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Madurai Corporation expansion boosts city area to 237.99 sq km integrating 17 panchayats

Madurai's transformation into a modern urban hub takes a leap forward with the Tamil Nadu government's approval to expand the city's corporation limits. The integration of 16 village panchayats and one town panchayat will increase Madurai's area from 147.99 sq km to 237.99 sq km and its population from 18.5 lakh to nearly 20 lakh. Key areas like Othakadai, Perungudi, and Chettikulam, driven by IT parks and infrastructure projects, will benefit from improved civic amenities and streamlined governance. The expansion aligns Madurai's historical legacy with contemporary development, setting the stage for enhanced economic opportunities and urban growth.Read more

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Telangana RERA penalises builder for violating regulations, orders refund to buyers

The Telangana Real Estate Regulatory Authority (TG RERA) fined a Hyderabad-based builder INR 8.3 lakh for accepting booking amounts before obtaining RERA registration. This ruling follows complaints by two buyers who paid INR 4 lakh in 2020 for flats in Jai Vasavi's Bliss Heights project. The flats were not delivered even after three and a half years due to a lack of construction permissions. TG RERA also directed the builder to refund the withheld INR 2 lakh to the buyers within 30 days. The case underscores TG RERA's commitment to protecting buyers and enforcing compliance under the Real Estate (Regulation and Development) Act.Read more

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Noida farmers meet CM Yogi Adityanath to discuss compensation and developed land plots

A group of farmers from Noida met Uttar Pradesh Chief Minister Yogi Adityanath earlier this month in Lucknow to discuss their demands for higher compensation and the allocation of developed residential plots. The meeting followed a series of protests, including a march towards Delhi in December, which led to traffic disruptions and several detentions. The farmers are seeking the implementation of the 2013 Land Acquisition Act and 10% developed plots. The state government has formed a high-level committee to address these concerns, and the CM assured the farmers that a new policy will be introduced soon.Read more

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Goa Coastal Zone Management Authority imposes environmental compensation for CRZ violation

The Goa Coastal Zone Management Authority (GCZMA) has imposed a fine of INR 77.9 lakh on a developer for building a ground-plus-four-storey structure within 50 metres of the Coastal Regulation Zone (CRZ) area in Arambol. The violation was discovered following a local's complaint in 2023, which led the high court to intervene. After an inspection by GCZMA experts, it was revealed that the structure violated CRZ-III and CRZ-1A zones. The developer was held accountable for environmental damage, and the compensation was calculated based on the scale of the violation.Read more

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Hyderabad: HYDRAA demolishes illegal five-storey building in Madhapur for violations

HYDRAA officials demolished an illegal five-storey building in Ayyappa Society, Madhapur, citing severe breaches of building regulations and environmental concerns. The building, constructed on a 684-square-yard plot, lacked required parking, had a cellar illegally converted into a kitchen, and violated setbacks and drainage norms. The structure was also polluting a nearby lake. The demolition followed show-cause notices from GHMC and directives from the Telangana high court. HYDRAA is continuing its crackdown on unauthorized constructions across the city.Read more

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Rajasthan to introduce Private Land Aggregation Bill to boost industrial growth

The Rajasthan government is set to introduce the Private Land Aggregation Bill, aiming to streamline land acquisition for industrial and infrastructure projects. The bill proposes compensating landowners with developed land-at least 25% of the total acquired-rather than cash, to offer greater value and encourage cooperation. It establishes a Land Aggregation and Development Authority to oversee acquisitions, addressing delays and confusion in the current unstructured system. While industry leaders welcome the collaborative approach, concerns over displacement persist. Alongside efforts to improve infrastructure and attract investment, the bill could position Rajasthan as a competitive hub for manufacturing, renewable energy, and tourism if implemented effectively.Read more

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