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

Hyderabad: GHMC approves INR 8,440 crore budget for 2025-26 with a focus on infrastructure and sustainability

The Greater Hyderabad Municipal Corporation (GHMC) has sanctioned a INR 8,440 crore budget for FY 2025-26, prioritizing infrastructure development and essential services. With INR 2,654 crore allocated under the H-CITI initiative for urban infrastructure, the budget emphasizes technological upgrades, eco-friendly projects, and improved public services. Despite challenges in revenue generation, the budget projects a INR 445 crore surplus, offering financial flexibility. GHMC plans to enhance community engagement and promote sustainable urban growth through investments in green spaces and public transport, aiming to make Hyderabad a more livable and investment-friendly city.Read more

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Goa: GCCI deems Mormugao land price hike unreasonable and unfair

The Goa Chamber of Commerce and Industry (GCCI) expressed concerns over the state revenue department's steep increase in minimum land rates for Mormugao taluka, ranging from 597% to 2,857%. GCCI President Shrinivas Dempo called the rates excessive and misaligned with market realities, particularly for regions like Sancoale, now equated with prime areas such as Dona Paula and Assagao. He warned of adverse effects on land sales, government revenue, and local affordability. The GCCI recommended revising rates to INR 15,000 per square meter for Vasco and INR 10,000 per square meter for Chicalim, Dabolim, and Sancoale to ensure fairness and sustainability.Read more

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Rajasthan allocates INR 202 crore for Unity Mall and Mandapam to boost local economy

The Rajasthan government is advancing two flagship projects, the Unity Mall and the Rajasthan Mandapam, to promote local products and economic growth. Located near Jaipur Airport, the Unity Mall has secured INR 200 crore, including INR 100 crore from the Union finance ministry, to showcase ODOP and GI-tagged products. Covering 15,000 square meters, it will also host training and promotional events. The Rajasthan Mandapam, inspired by Delhi's Bharat Mandapam, will span 40,000 square meters to position Rajasthan as a convention hub. RIICO, managing both projects, expects Unity Mall construction to start in February 2025, promising economic and cultural revitalization.Read more

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Illegal extensions removed as VMC enforces building compliance in Vadodara

The Vadodara Municipal Corporation (VMC) has demolished unauthorized extensions of a bungalow in the Tandalja area as part of its efforts to enforce building regulations. Despite prior notices and complaints from residents, the illegal structures, including extensions and a washroom, remained unapproved. The move reflects VMC's broader crackdown on unauthorised constructions in the city, highlighting concerns over safety and urban planning violations. While some residents supported the action for ensuring compliance, others called for leniency and more time for the owners to rectify the violations. Amid rising cases of unauthorized constructions, VMC plans to implement stricter penalties and awareness campaigns to promote adherence to building laws and maintain the integrity of Vadodara's urban development.Read more

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Andhra Pradesh eases building rules, allows 5-story projects without approval

The Andhra Pradesh government has introduced new regulations permitting builders to construct up to five-story buildings without prior town planning approval. Builders can begin work upon submitting applications and paying fees to municipal bodies, streamlining the process and addressing delays in obtaining permits. While offering flexibility, the policy enforces strict adherence to submitted plans, with penalties for deviations. Municipal commissioners are empowered to issue stop-work orders for significant violations. The move aims to boost the construction sector amid rising costs and labor shortages, potentially driving economic growth and setting a precedent for building regulation reforms in other states.Read more

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Karnataka High Court denies land restoration to SC grantees citing 12-year delay

The Karnataka High Court has upheld the denial of land restoration to the heirs of Lakshmaiah, a Scheduled Caste member who was granted land in 1981, citing an unreasonable 12-year delay in seeking restitution after its transfer in 1995. The court emphasised the importance of timely legal action, referencing precedents like the Nekkanti Rama Lakshmi case, which rejected a 25-year delay in land disputes. While the Karnataka SC/ST Act was recently amended to remove time limits for land restoration, this ruling highlights ongoing challenges in balancing the rights of original grantees with those of subsequent owners. The decision underscores the need for timely legal recourse in property disputes.Read more

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Uttar Pradesh government to streamline township handovers ensuring better services for residents

The Uttar Pradesh government is working to address long-standing delays in township handovers from private developers to local civic bodies. Currently, residents face poor maintenance and dual charges due to incomplete transfers. A meeting in Lucknow with representatives from cities like Ghaziabad and Kanpur will focus on standardizing the process. The Ghaziabad Development Authority's recent handover of Indirapuram after a 7-year delay highlights the challenges. A planned committee will develop SOPs to ensure smoother transitions, reducing resident burdens and improving services. This initiative aims to enhance transparency, accountability, and management across townships statewide.Read more

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Hubballi-Dharwad Municipal Body to inspect Aryabhata Tech Park over land misuse claims

The Hubballi-Dharwad Municipal Corporation (HDMC) has launched an inspection of Aryabhata Tech Park in Navanagar following complaints of improper land utilization by ten IT-BT companies. Spread across 26 acres, the park was allotted in two phases for industry development, but concerns have arisen over companies not meeting investment and employment commitments. A house committee, including senior HDMC officials, will investigate compliance with operational timelines and job creation goals. Companies like Diksha Technologies and Ion Idea Enterprises Solutions have faced scrutiny for underutilizing or returning land. HDMC aims to ensure accountability, improve infrastructure, and attract more companies to position Hubballi as a tech hub.Read more

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Telangana RERA fines Paradise Peak INR 11.5 lakh for failing to register its real estate project

The Telangana Real Estate Regulatory Authority (TG RERA) has fined Paradise Peak Private Limited INR 11.5 lakh for failing to register its 12-acre layout project, violating the Real Estate (Regulation and Development) Act. The penalty followed a complaint by buyer M Santhosh, who highlighted irregularities and ongoing disputes between the landowner and developer. TG RERA barred the developer from advertising, marketing, or selling plots until the project is registered and ordered compliance within 15 days. Chaired by N Satyanarayana, TG RERA emphasized safeguarding buyers and enforcing transparency in Telangana's real estate sector.Read more

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Kerela: Maradu demolition sparks inquiry into future construction and CRZ compliance

The demolition of four flat complexes in Maradu, Kerala, due to Coastal Regulation Zone (CRZ) violations has displaced 343 families and stalled new investments in the area. An amicus curiae, Gaurav Agarwal, visited the site under Supreme Court orders to assess permissible future construction. Maradu municipality chairman Antony Ashamparambil criticised the lack of housing solutions for displaced families and the government's inaction against former panchayat president K.A. Devasia, implicated in approving illegal constructions. The crisis highlights the need for stricter enforcement of CRZ rules and sustainable urban planning. Stakeholders await actionable recommendations from the inquiry to rebuild trust and resolve housing issues.Read more

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