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

AMC reclaims reserved plots in Gota and Thaltej, clears encroachments for urban development

PNT Reporter

The Ahmedabad Municipal Corporation (AMC) reclaimed reserved plots and cleared encroachments in the Gota, Thaltej, Jagatpur, and Sola areas as part of its urban planning initiatives. In Gota's TP scheme 56, AMC secured an 8,800 sq. m residential plot and a 420 sq. m open space plot. In Thaltej's TP scheme 214, two commercial plots, measuring 1,088 sq. m and 5,824 sq. m, were reclaimed. In Jagatpur's TP scheme 34, land reserved for housing the urban poor was cleared, while illegal structures obstructing roads in Sola's TP schemes 42 and 43 were removed. These efforts demonstrate AMC's commitment to sustainable urban development, reclaiming land for planned growth, and improving infrastructure access in Ahmedabad.Read more

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KDMC begins demolition of 47 illegal buildings linked to forged RERA certificates

PNT Reporter

The Kalyan-Dombivli Municipal Corporation (KDMC) has begun demolishing 47 of 65 illegal buildings constructed using forged RERA certificates, affecting around 6,500 residents. This follows a Bombay High Court order after a whistleblower's complaint revealed the scam last year. While 10 unoccupied buildings were demolished earlier, the current process involves inhabited structures, prompting KDMC to disconnect utilities to ensure evacuation before demolition. Fifteen arrests, including builders and agents, have been made, with a Special Investigation Team probing the fraud. Delays were attributed to elections and monsoons. Residents demand accountability from officials and fair compensation for affected families.Read more

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NCLAT dismisses Jaiprakash Associates' plea, upholds insolvency proceedings

PNT Reporter

The National Company Law Appellate Tribunal (NCLAT) dismissed Jaiprakash Associates Ltd's (JAL) appeal against insolvency proceedings initiated by ICICI Bank. The tribunal upheld the National Company Law Tribunal's (NCLT) ruling, confirming that ongoing loan restructuring does not block insolvency filings under Section 7 of the Insolvency and Bankruptcy Code. NCLAT highlighted JAL's recognition of its debt and default in its One-Time Settlement (OTS) proposal. It also backed the Reserve Bank of India's directive to ICICI Bank to begin the Corporate Insolvency Resolution Process in 2018. With defaults exceeding INR 22,000 crore and lenders rejecting JAL's revised OTS, the ruling prioritizes insolvency resolution over pending settlements.Read more

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TCP department reinforces guidelines on issuance of NOCs for land transfers

PNT Reporter

The Town and Country Planning (TCP) Department has reinforced its directive to planning authorities and district town planners to avoid issuing No Objection Certificates (NOCs) for land transfers unless explicitly allowed. Chief Town Planner Vertika Dagur, under Minister Vishwajit Rane's guidance, emphasized compliance with Section 49(6) of the TCP Act, barring exceptions like inheritance or government-approved mortgages. While past relaxations permitted NOCs for smaller plots and eased public hardships, recent irregularities have prompted stricter enforcement. These measures aim to improve transparency and ensure proper adherence to regulations while maintaining exemptions that simplify transactions for specific cases like family inheritance and financial institution dealings.Read more

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Vasai Virar City Municipal Corporation demolishes 41 illegal structures in Nalasopara

PNT Reporter

The Vasai Virar City Municipal Corporation (VVCMC) launched a large-scale demolition drive in Nalasopara, targeting 41 unauthorised buildings as per court directives. Conducted early in the day to minimise disruption, the operation was backed by significant resources, including police personnel to maintain order. These structures violated municipal guidelines, prompting their removal to uphold urban planning standards. The VVCMC emphasized its commitment to sustainable development and strict action against illegal constructions. The drive sends a strong message to builders about adhering to legal norms, fostering accountability, and paving the way for a well-regulated urban environment.Read more

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Delhi government announces INR 8,000 relief for 90,000 construction workers amid pollution ban

PNT Reporter

The Delhi government has announced financial assistance of INR 8,000 for over 90,000 registered construction workers impacted by the ongoing construction ban implemented to curb severe air pollution. The decision, made during a meeting of the Delhi Building and Other Construction Workers Welfare Board, aligns with a recent Supreme Court directive. Eligible workers, identified as those with verified Aadhar-seeded bank accounts and live memberships as of the court order's date, will receive payments through direct benefit transfers. Physical and online verification processes have been initiated to ensure the distribution of funds.Read more

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Visakhapatnam's building plan approval process sees significant reforms

PNT Reporter

The Greater Visakhapatnam Municipal Corporation (GVMC) has revamped its building plan approval system, significantly improving timelines over the past two months. Previously marred by delays, the online system introduced in 2016 now ensures faster communication of deficiencies and earlier approvals. Notably, 71% of plans are approved within the first week, compared to 20% earlier. In parallel, the Andhra Pradesh government is introducing additional reforms, including a single-window system and a new policy allowing municipal approvals to be bypassed for buildings under 15 metres. These changes aim to streamline processes and expedite clearances.Read more

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Odisha government rejects proposal to merge villages with Berhampur Municipal Corporation

PNT Reporter

The Odisha government has rejected a proposal to merge villages including Lochapada, Sana Kushasthali, Bramhanapalli, and Golabandh with the Berhampur Municipal Corporation (BeMC). Despite advocacy from residents and groups like the Sahara Tali Anchal Milita Kriya Anusthan Committee, citing better civic infrastructure as a key benefit, the decision follows objections and feedback reviewed after a high court directive. Villages face critical civic issues, including poor roads, drainage, and water supply, which gram panchayats struggle to address due to limited resources. While the case remains under judicial review, hopes for urban integration and improved governance remain on hold.Read more

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Lucknow: LDA revises guidelines for solar panel installation

PNT Reporter

The Lucknow Development Authority (LDA) has revised its solar panel installation guidelines to promote renewable energy. In a recent board meeting, the LDA made it mandatory for residential properties with a plot size of 1,000 square feet or more to install rooftop solar panels under the PM Surya Ghar scheme, reducing the threshold from 2,000 square feet. Additionally, the board approved plans for traffic management improvements at key intersections, including Engineering College Crossing and Atal Chowk, with a combined budget of INR 1.77 crore. The LDA also approved the construction of boundary walls at cremation sites, decorative lighting at intersections, and the provision of interest-free instalments for displaced people. Land acquisition efforts for various residential schemes were also expedited.Read more

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Karnataka to launch India's first Circular Economy Policy for sustainable real estate

PNT Reporter

Karnataka is set to launch India's first Circular Economy Policy to promote sustainability in the real estate sector. Announced by Minister Priyank Kharge, the policy mandates 20% sustainable materials in construction, aiming to reduce environmental impact and set a national example. Real estate, contributing 7.3% to GDP and projected to reach USD 1 trillion by 2030, is a key focus for Karnataka, with Bengaluru driving growth through Proptech adoption. The policy aligns with the "Beyond Bengaluru" strategy for decentralized development, addressing demand for grade A commercial spaces while fostering collaboration among policymakers, industry leaders, and Proptech innovators.Read more

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