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 administration receives 2,444 lease applications for occupancy rights

The Indore district administration has received 2,444 applications for leases on populated land under occupancy rights during a recent camp held at tehsil offices. This initiative allows residents from 29 villages, incorporated into the municipal limits in 2014, to secure long-term leases, facilitating property transactions and access to loans. The lease applications require various documents for verification, aimed at addressing issues faced by landowners in selling properties or obtaining loans due to lack of formal registration.Read more

cover photo

PMAY-U 2.0: Contributions by states made mandatory in new phase of ambitious housing scheme

During a press conference marking 100 days of the Modi government, Union Housing and Urban Affairs Minister Manohar Lal Khattar announced that under the second phase of the Pradhan Mantri Awas Yojana (PMAY) Urban (U), states are now required to contribute financially. This mandate aims to ensure smoother implementation, addressing challenges from the first phase. PMAY-U 2.0 seeks to build an additional one crore houses for urban poor and middle-class families. Khattar also highlighted the government's metro expansion efforts, with India now boasting the third-largest metro network globally. These initiatives reflect the government's commitment to improving urban living standards.Read more

cover photo

UP government greenlights cadre post restructuring in Urban Development Department

The Uttar Pradesh government is restructuring urban local bodies for the first time in 50 years, increasing cadre posts from 3,085 to 6,686 to address urban planning, environmental issues, and animal welfare. With the urban population projected to grow from 24% to 50% over the next three decades, this overhaul introduces specialised roles such as environmental officers and town planners. The initiative aims to improve governance and efficiency as the urban development department manages key programs like the Smart City initiative and AMRUT. This restructuring aligns with broader efforts to modernise service delivery and strengthen economic growth in the state.Read more

cover photo

Indore’s MOG Lines Project moves forward with demolition, PMAY flats offered to families

The Indore district administration recently demolished three houses to advance the MOG Lines Re-densification Project, aimed at enhancing infrastructure and living conditions in the area. Affected families have been relocated to new flats under the Pradhan Mantri Awas Yojana (PMAY) scheme at 'Girnar Parishar' in Bada Bangarda. Despite prior discussions, families protested during the eviction, necessitating intervention from senior officials and police. Indore Smart City Development Limited (ISCDL) is overseeing the relocation process and plans to generate income by selling large plots in MOG Lines, supporting ongoing and proposed projects while achieving self-reliance.Read more

cover photo

YEIDA mandates stamp duty on builder-buyer agreements for property protection

The Yamuna Expressway Industrial Development Authority (YEIDA) has stipulated that builder-buyer agreements for group housing projects will only be deemed valid if stamp duty is paid. This requirement, already included in UP-RERA regulations, provides buyers with valid proof of flat registration and stamp duty payment at the time of booking, safeguarding them from potential complications in transactions with developers. This proposal was approved during a YEIDA board meeting last week and will apply to all new group housing projects in Yamuna City.Read more

cover photo

Uttarakhand to introduce stricter land purchase law to curb illegal acquisitions

The Uttarakhand government is preparing to implement more stringent land purchase regulations to tackle the extensive acquisition of land in hilly areas by non-residents. Chief Minister Pushkar Singh Dhami has stated that this legislation will be introduced during the upcoming budget session. Ongoing investigations are focusing on individuals who have violated regulations by acquiring land in the names of family members or failing to fulfil their commitments to develop promised commercial projects. While restrictions have changed over time, the government aims to thwart unauthorised transactions and reclaim land obtained through questionable practices, all while protecting the interests of legitimate investors.Read more

cover photo

Chennai: Tambaram and Avadi corporations to expand with addition of 37 village panchayats

The Tambaram and Avadi corporations in the vicinity of Chennai are set to expand by integrating 37 village panchayats. Tambaram will absorb 18 villages, increasing its area from 84.7 sq km to 172.34 sq km, while its population is projected to rise from 723,017 to 1,008,473. Meanwhile, Avadi will amalgamate three municipalities and 19 panchayats, enlarging its size from 65 sq km to 188 sq km and boosting its population from 345,996 to 695,212. The incorporation of these panchayats is expected to be completed by late 2024 or early 2025.Read more

cover photo

New Maharashtra housing strategy to promote affordable, eco-friendly homes with subsidies for green practices

The Maharashtra government is developing a new housing strategy focused on affordable, sustainable housing, particularly for senior citizens and students, as announced by Valsa Nair Singh, Additional Chief Secretary for Housing. The plan, which includes subsidies for eco-friendly practices, aims to promote green building concepts. Announced at the Ease of Doing Redevelopment (EoDR) exhibition hosted by CREDAI-MCHI, the strategy will simplify redevelopment processes and introduce a redevelopment portal for transparency. The event featured over 40 developers, launching the 'Ease of Doing Redevelopment Report' and fostering collaboration to streamline housing redevelopment in Mumbai, benefiting 900 housing societies.Read more

cover photo

NGT reprimands SEIAA for holding up environmental clearance for a colony in Gurugram

The National Green Tribunal (NGT) has reprimanded the Haryana State Environmental Impact Assessment Authority (SEIAA) for its failure to decide whether the 225-acre Malibu Towne requires environmental clearance. This follows a resident's petition in 2022 that raised serious concerns about the illegal operation of diesel generators and the discharge of untreated sewage, prompting a closure notice from the Haryana State Pollution Control Board (HSPCB). The notice has stalled new property transactions and construction activities in the area. Although SEIAA was instructed to assess the situation in July 2022, it has still yet to reach a decision. An extension has now been granted, with the next hearing scheduled for October 10.Read more

cover photo

Tamil Nadu registration department buys 1,164 fingerprint scanners to enhance security

The Tamil Nadu government has procured 1,164 advanced level 1 fingerprint scanners to combat land registration fraud involving cloned fingerprints and identity theft through the Aadhaar Enabled Payment System (AEPS). The scanners, distributed across 582 sub-registrar offices, feature enhanced encryption and fingerprint liveliness detection, ensuring authenticity during property transactions. This upgrade follows UIDAI's mandate to enhance security beyond the previously used level 0 scanners. Additionally, the state has implemented Aadhaar and PAN data masking to prevent financial fraud. This move, praised by property consultants, aims to safeguard citizens and ensure secure and reliable property registrations.Read more

cover photo