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

Indore Municipal Corporation demolishes illegal structures and removes encroachments

PNT Reporter

The Indore Municipal Corporation (IMC) carried out a demolition drive in Zone 13, removing two illegal constructions. The drive included the demolition of a 3,000 square feet building in Vishnupuri and a 1,500 square feet hostel in Nanak Palace Colony. IMC officials had previously served notices to the building owners to remove the illegal portions, but the owners failed to comply, prompting the demolition. A separate operation in Tulsi Nagar, aimed at enhancing traffic flow, saw the removal of illegal footpath constructions in front of approximately 50 shops. The action is expected to improve the urban environment and residents' quality of life.Read more

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NGT orders halt to construction in Greater Noida and Noida without environmental clearances

PNT Reporter

The National Green Tribunal (NGT) has directed that construction projects in Greater Noida and Noida lacking the necessary environmental clearances should be halted. The decision follows a plea that highlighted the alleged illegal construction of residential and commercial complexes in the area, which violates environmental regulations. The petition further accused some developers of extracting topsoil and operating illegal borewells. The NGT's order mandates that projects lacking the required Consent to Establish (CTE), Consent to Operate (CTO), and Environmental Clearance (EC) cannot proceed. Additionally, the Uttar Pradesh Pollution Control Board was instructed to prevent illegal plotting, especially in floodplain zones.Read more

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Mangaluru City Corporation sets new deadline for bulk waste generators to comply with composting rules

PNT Reporter

Mangaluru City Corporation (MCC) has set a new deadline for bulk waste generators, including large apartments, complexes, and businesses, to comply with waste management rules. By January 15, 2025, these entities must set up on-site composting units to process wet waste and produce fertiliser. This directive applies to establishments generating over 100kg of waste daily, with penalties for non-compliance. Despite the city having over 2,500 bulk waste generators, many have yet to implement the required composting systems. The public can obtain further details on compliance from the MCC website or through email.Read more

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TGRERA directs Aliens Developers to expedite project and pay interest for delay

PNT Reporter

The Telangana Real Estate Regulatory Authority (TGRERA) has ordered Aliens Developers to expedite the 'Aliens Space Station' project in Tellapur and hand over the flat to buyer Ganapathi P Gorekar. For the delay since December 2017, developers must pay interest at 10.95% per annum, excluding the Covid-19 waiver period, until possession. Despite securing INR 28 billion and INR 5.2 billion from SWAMIH Fund to revive the project, construction remains incomplete. TGRERA found the developers in breach of the Real Estate Act and mandated interest payment within 90 days. This ruling underscores the need for accountability and consumer protection in real estate..Read more

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Forest Advisory Committee rejects residential project proposal on private forest land in Thane

PNT Reporter

The Forest Advisory Committee (FAC), a statutory body under the Ministry of Environment, Forest and Climate Change (MoEFCC), has recently rejected a proposal for residential development on private forest land in Walshet, Thane, Maharashtra. The FAC's decision aligns with the consolidated guidelines of the Van (Sanrakshan Evam Samvardhan) Adhiniyam, 1980, which prohibit the use of forest land for non-site-specific activities, such as residential colonies. The FAC clarified that although exceptions have been made in areas like Uttarakhand and Goa, Maharashtra's proposal was rejected due to strict regulations. The FAC suggested that any future proposals must provide detailed justifications.Read more

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Allahabad High Court directs review of sub-lease cancellations by YEIDA and Noida Authority

PNT Reporter

The Lucknow Bench of the Allahabad High Court has set aside two orders by the Principal Secretary of Industry rejecting revision petitions from UG Infrastructure and Colourful Estate against YEIDA and Noida Authority's sub-lease cancellations. Justice Pankaj Bhatia directed the state government to re-evaluate the cases within six weeks, citing inconsistent decisions on similar matters. The court emphasised the need for consistent legal reasoning, following the removal of Anil Kumar Sagar, the Principal Secretary and YEIDA chairman. New officials have been assigned to handle appeals, potentially bringing clarity to builders and reshaping regional real estate development.Read more

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Kanpur Development Authority expands jurisdiction, adding 80 villages for urban growth

PNT Reporter

The Kanpur Development Authority (KDA) has added 20,588 hectares from 80 villages to its jurisdiction to meet rising housing demands. Approved by the state cabinet, the expansion allows KDA to streamline development approvals and resolve jurisdictional conflicts. Inspired by Noida's model, KDA plans high-rise buildings with essential infrastructure like schools, shopping complexes, and healthcare facilities. Recent actions include demolishing 27 illegal structures in Gangaganj, Panki, and Shatabdi Nagar. To avoid past pitfalls of unsold flats, KDA will conduct demand surveys before new projects. These developments aim to transform Kanpur into a more connected, livable, and vibrant urban center.Read more

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Uttarakhand cabinet approves new housing policy with raised income limits for EWS and LIG

PNT Reporter

The Uttarakhand Cabinet approved a new housing policy aimed at easing norms for economically weaker sections (EWS) under the Pradhan Mantri Awas Yojna. The state government increased the income limit for EWS homes to INR 5 lakh, with housing units priced at INR 9 lakh. The Cabinet also defined criteria for lower income and lower middle-income groups, with home prices ranging from INR 14 lakh to INR 25 lakh. In addition, row housing will be promoted in hill areas, subsidies for electricity consumption were reviewed, and measures were introduced to ensure compliance with the norms. The Cabinet also approved proposals for new buses, a Transgender Welfare Board, changes in academic records post-sex-change, and increased dress allowances for government drivers.Read more

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Mizoram launches subsidised rooftop solar initiative to promote energy self-sufficiency

PNT Reporter

Mizoram's Power and Electricity Minister, Rodingliana, recently introduced a new initiative under the PM-Surya Ghar Muft Bijli Yojana (PM-SGMBY), aimed at helping households reduce their electricity costs by installing rooftop solar systems. The scheme is part of a nationwide effort to support one crore households with subsidies for domestic solar power generation. Available exclusively to Indian citizens with good payment records, the initiative targets private residential properties. Financial support is provided by various national and local banks, with installation costs varying by location. As of now, over 2,900 households have registered, with several applications already approved.Read more

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Greater Noida: GNIDA to allot plots to 615 farmers in resolution effort

PNT Reporter

The Greater Noida Industrial Development Authority (GNIDA) has prepared a list of 615 farmers from seven villages to allocate developed residential plots within a month. This follows the recommendations of a committee formed earlier this year, which was tasked with addressing farmers' demands. The committee's report has been submitted, and GNIDA is now putting its plan into action. On December 7, top officials met to discuss the implementation, and GNIDA's CEO has directed the land records department to fast-track the process. In addition, camps will be set up in 62 villages to assess the eligibility of 3,532 other farmers.Read more

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