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

Orissa HC orders bank to pay compensation for 14-year delay in returning property papers

PNT Reporter

In a ruling by the Orissa High Court, a nationalised bank in Cuttack was directed to pay a compensation of INR 1 lakh to a 70-year-old man whose mortgaged property papers were not returned even 14 years after he repaid his loan. The man had repeatedly contacted the bank, both through personal visits and letters, to retrieve his documents but to no avail. Justice S.K. Panigrahi condemned the bank's casual approach, noting that the loan had been repaid and the property's title deed was no longer needed. The court ordered the bank to return the documents within a month and pay the compensation within 30 days.Read more

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Supreme Court upholds land acquisition for Yamuna Expressway development

PNT Reporter

The Supreme Court upheld the legality of land acquisition for the Yamuna Expressway and surrounding development in Gautam Budh Nagar, resolving disputes stemming from conflicting Allahabad High Court rulings. A bench of Justices B R Gavai and Sandeep Mehta affirmed the application of urgency clauses under the Land Acquisition Act, 1894, citing public interest and the integrated nature of the expressway project and regional development. The Court ruled that most landowners had accepted compensation, upholding a 64.7% enhancement as a "No Litigation Bonus" but rejecting further increases.Read more

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Punjab government offers 90-day relief to plot owners in unauthorized colonies

PNT Reporter

The Punjab state government's long-awaited notification has arrived, providing relief to owners of plots up to 500 square yards in unauthorized colonies. These owners will have a 90-day window to register their properties without needing a No Objection Certificate (NoC). However, uncertainties remain regarding the necessity of NoCs after this period and the approval process for building plans and electricity meters. Eligible individuals must prove ownership by July 31, 2024, and comply with specific conditions. While some seek clarification on previously registered plots, officials assert that the focus is only on those who haven't registered yet.Read more

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Uttarakhand government enhances housing support with PM Awas Yojana Phase 2

PNT Reporter

The Uttarakhand government has secured an agreement with the Union government for the second phase of the Pradhan Mantri Awas Yojana, aimed at providing increased financial aid for housing. Urban Development Secretary Nitesh Jha announced that the central contribution per house has risen from INR 1.5 lakh to INR 2.2 lakh, facilitating the construction of homes for families with annual incomes between INR 3 lakh and INR 18 lakh. The initiative has already resulted in over 34,000 homes built in the state, supporting the goal of providing housing for all urban homeless families.Read more

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Delhi-NCR states to intensify inspections on PUC and end-of-life vehicles

PNT Reporter

The Commission for Air Quality Management (CAQM) has intensified enforcement of pollution mitigation measures in the National Capital Region (NCR) under the Graded Response Action Plan (GRAP). Punjab and Haryana were directed to resolve inconsistencies in Environmental Compensation cases and expedite stubble-burning verifications. Delhi-NCR states must intensify inspections, halt construction violations, and impound non-compliant vehicles. Authorities were instructed to address citizen complaints promptly and adhere to Supreme Court directives on brick kilns and waste management. Daily reporting of GRAP actions has been mandated, with officials warned of accountability under the CAQM Act for enforcement failures, reflecting a focused effort to combat air pollution.Read more

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Navi Mumbai Municipal Corporation takes action against unauthorized constructions in Belapur

PNT Reporter

The Navi Mumbai Municipal Corporation (NMMC) launched a demolition drive in the Belapur division to remove unauthorized constructions after the concerned parties failed to respond to notices. The action was led by Commissioner Dr. Kailas Shinde and guided by Dr. Rahul Gethe. Unauthorized constructions in Karave were demolished under the Maharashtra Regional and Town Planning Act, 1966. The operation involved 15 labourers and was supported by police personnel.Read more

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GHMC targets violators as illegal construction rises in prime regions in Hyderabad

PNT Reporter

Western Hyderabad, a hotspot for prime real estate, has become a center for unauthorized construction, with nearly 40% of the city's illegal buildings concentrated in the region. The Greater Hyderabad Municipal Corporation (GHMC) identified 1,500 such structures citywide this year, demolishing 1,000, primarily in areas like Moosapet, Kukatpally, and Chandanagar. Violations include unauthorized extra floors, encroachments, and deviations from approved plans. Some property owners exploit legal loopholes, misuse permits, or secure unauthorized utility connections. Following incidents like the demolition of a tilted building in Siddique Nagar, GHMC launched surveys to address violations, focusing on congested zones. Stricter enforcement aims to curb this growing issue.Read more

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DTCP invites public feedback on proposal to narrow roads in Gurgaon's key sectors

PNT Reporter

The Department of Town and Country Planning (DTCP) has proposed reducing road widths in Gurugram's sectors 34, 35, 71, 72, 72A, 73, and 74, deviating from the 75-metre standard set by the 2012 Gurugram-Manesar Development Plan. The move follows a request from Maharaja Appliances Ltd, whose land in Sector 34 overlaps the planned road alignment. Proposed changes include reducing road widths to 60 metres between Sectors 73 and 74A and to 18 metres between other sectors. While DTCP has invited public feedback until December 20, residents worry the narrower roads will worsen traffic woes. Critics argue that public infrastructure should not be compromised for private interests.Read more

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Builders Association proposes measures to streamline TNRERA approvals

PNT Reporter

The Builders Association of India called for urgent reforms to streamline the approval process of the Tamil Nadu Real Estate Regulatory Authority (TNRERA), highlighting delays and compliance challenges. Developers reported that approvals often exceed the 30-day timeline, suggesting improvements like raising all queries at once and inviting applicants to meetings for faster clarifications. They also proposed leniency in land measurement discrepancies, exempting CA signatures from quarterly reports, and allowing scanned copies of documents for redevelopment projects. Concerns over public disclosure of legal title documents and penalties for pre-RERA sales were raised, with developers urging a more balanced and efficient approach to boost the sector.Read more

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Coimbatore civic body reclaims OSR land worth INR 22 crore in Vadavalli

PNT Reporter

The Coimbatore City Corporation recently reclaimed 1.13 acres of open space reservation (OSR) land in Vadavalli, valued at 22 crore. The land had been illegally sold and occupied by individuals who built houses on it. Despite earlier court orders to remove encroachments, efforts to vacate the land failed. In response to a contempt petition filed by the VNR Residents' Welfare Association, the corporation demolished the illegal structures and reclaimed the land. Plans include installing a fence around the reclaimed parcels, and further action will be taken to reclaim the remaining 56 cents if the encroachers do not vacate within 15 days.Read more

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