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

AISECT partners with NeGD to provide over 300 Government Services via UMANG portal

AISECT has partnered with the National e-Governance Division (NeGD) to integrate over 300 government services through the UMANG portal, available via aisectonline.com and ASK centres across India. This initiative aims to enhance access to essential services like birth certificates, driving licences, and ITR filing in rural and semi-urban areas. AISECT's efforts support local entrepreneurs, foster economic growth, and bridge the digital divide. The partnership seeks to empower communities by providing easy access to vital services, driving digital inclusion.Read more

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NGT issues notice over Kusumpur Pahadi redevelopment, citing environmental concerns

The National Green Tribunal (NGT) has issued notices to key authorities, including the Delhi Development Authority and the Lieutenant Governor, in response to a petition alleging that the Kusumpur Pahadi redevelopment plan violates the 1992 Aravali Notification. The Society for Protection of Culture, Heritage, Environment, Traditions, and Promotion of National Awareness (SP-CHETNA) argues that the redevelopment, which proposes 2,800 new units, threatens a protected forest and exacerbates groundwater depletion in nearby Vasant Vihar. The NGT, in a September 10 order, highlighted potential environmental impacts and instructed the respondents to provide their responses by December 6, ahead of the December 13 hearing.Read more

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S+4 policy in Haryana on hold despite no court-imposed ban, DTCP awaits final decision

The Punjab and Haryana High Court recently clarified that it had not issued a stay on the construction of stilt-plus-four floors. However, the Department of Town and Country Planning (DTCP) has put the policy on hold pending a final decision. The court is reviewing a petition from the Gurgaon Citizens Council (GCC) questioning the policy, and a hearing is set for 23rd October. Despite the policy's suspension, guidelines for S+4 construction were issued in July, leading to further debate. Developers hope for revised regulations soon, balancing urban development in Gurugram.Read more

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NCLT grants approval for Adani Group's Bridgeport Realtors to acquire Radius Estates

The National Company Law Tribunal (NCLT) has approved Bridgeport Realtors, a subsidiary of Adani Goodhomes, to acquire Radius Estates and Developers through a merger. This move, a vital part of Radius Estates' corporate insolvency resolution process since April 2021, was first approved by the NCLT in January 2023 and later by the NCLAT in May 2024. The merger aims to streamline corporate structure, enhance financial stability, and optimise real estate operations. The tribunal confirmed no additional shareholder or creditor meetings were needed, as consent was already secured.Read more

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Gujarat Government introduces a new system to expedite the town planning process

The Gujarat state government has reformed the town planning (TP) scheme to enhance efficiency and transparency. These changes will allow town planners to declare a preliminary scheme within seven months, compared to the previous 12-month average. A newly established Original Plot Approval Committee (OPAC) will ensure plot boundaries remain intact until approval. The process will appoint a town planning officer (TPO) early to accelerate the drafting phase. The scheme proposals will be accessible online to ensure transparency. The reforms reflect Gujarat's influential TP model and invite public input until mid-September for further refinement.Read more

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Government issues draft standards for finance system under PM Surya Ghar Scheme

The Ministry of New and Renewable Energy has unveiled draft guidelines for central financial support and payment security under the RESCO and utility-led models for rooftop solar systems. In the RESCO model, a renewable energy company installs and maintains the system for five years without upfront costs to the consumer. The consumer pays only for the electricity generated, and after the company's investment is recovered, the system becomes the consumer's property, making electricity nearly free. Alternatively, RESCO operators may sell power to the grid. In the utility-led model, state distribution companies own the systems for five years before transferring ownership to households.Read more

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Over 3,000 lakes in Hyderabad await final notifications amid survey delays

After 11 years, the Hyderabad Metropolitan Development Authority (HMDA) has made slow progress in finalizing notifications for the Full Tank Levels (FTL) and buffer zones of over 3,000 lakes. With fewer than 10% of lakes receiving final approval, many preliminary surveys remain incomplete. Recent enforcement by HYDRAA has pressured HMDA to accelerate surveys, mandating targets for collectors. Since August, 65 lakes have been surveyed, and 269 preliminary notifications issued, but completing all surveys and issuing final notifications is expected to take at least another year.Read more

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PM Modi allocates INR 2,745 crore under PMAY-G for rural housing

Prime Minister Narendra Modi released the first instalment of funds under the Pradhan Mantri Awas Yojana-Gramin (PMAY-G) to thousands of rural beneficiaries, with INR 2,745 crore allocated to about one million individuals in Jharkhand. This initiative, aiming to build 2.95 crore houses by March 2024, includes a "griha pravesh" ceremony for 2.6 million new homeowners. Recent rule changes, like raising the income limit and removing exclusions, aim to widen the scheme's reach. The programme extension to 2028-29 targets an additional two crore houses, promoting poverty-free rural development.Read more

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Goa government to launch affordable housing scheme for local residents

Chief Minister Pramod Sawant announced a new affordable housing initiative aimed at providing relief to Goans facing rising property prices and limited land. The government plans to construct 50 to 100 flats in each taluka, priced between INR 10 to 15 lakh. These homes will be built on housing board or revenue land, with the goal of completion within two years. The scheme is in the draft stage, and allocation processes are yet to be finalized. Additionally, Sawant emphasized environmental protections, such as monitoring hill cutting and reassessing approvals for large-scale projects across Goa.Read more

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SC refuses to stay Adani Goodhomes' acquisition of Radius Estates

The Supreme Court has declined to stay the resolution plan proposed by Adani Goodhomes, a subsidiary of Adani Infrastructure and Developers, to acquire the insolvent real estate company Radius Estates. The case highlights the ongoing challenges surrounding substantial haircuts taken by lenders in insolvency resolutions. While the dissenting creditors have raised concerns about the 93% haircut imposed by the plan, the majority of stakeholders, including homebuyers, have endorsed Adani Goodhomes' proposal. Adani Goodhomes has offered approximately INR 76 crore to Radius Estates' creditors, who have claims totalling around INR 1,700 crore. Adani Goodhomes has also committed to completing the residential project in Mumbai at no additional cost to the homeowners.Read more

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