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

Delhi High Court seeks DDA update on lapses in Signature View apartment construction

The Delhi High Court has requested an update from the Delhi Development Authority (DDA) on its investigation into construction flaws at Signature View Apartments. This inquiry follows a March 2023 letter from the CBI seeking details on a vigilance inquiry ordered by the lieutenant governor. Residents of the 336 multi-storey homes have raised concerns about structural safety and potential misconduct by officials and contractors. The court's involvement highlights the need for accountability and transparency, as delays in addressing these issues have left residents frustrated and worried about the future of their homes.Read more

cover photo

Bombay High Court issues contempt notice to developer over misleading payment claims

The Bombay High Court has ordered a show-cause notice against the managing director of a construction company for allegedly misleading the court about financial commitments to the Slum Rehabilitation Authority (SRA). The developer claimed to have paid INR 6 crore in overdue rent, but it was revealed that two out of three cheques issued in 2022 had bounced. The case, brought by five tenants from Bharat Nagar, Bandra, highlights ongoing issues in slum redevelopment projects. The court's intervention underscores the importance of transparency and accountability in ensuring that developers honour their commitments to tenants.Read more

cover photo

Gujarat CM Bhupendra Patel announces regularisation of unauthorised constructions in rural areas

Gujarat Chief Minister Bhupendra Patel announced that unauthorised non-residential constructions with a Floor Space Index (FSI) of up to 4.5 in rural areas can now be regularised. This initiative simplifies compliance under the Gujarat Regularisation of Unauthorised Development Act 2022, addressing a long-standing issue of unauthorised buildings. Property owners can regularise up to 1,000 square metres of non-residential and 2,000 square metres of residential space by paying a fee related to deficient parking. The move aims to promote responsible development, ease legal burdens on residents, and support sustainable growth in Gujarat's rapidly urbanising rural areas.Read more

cover photo

Chandigarh's sector 39 market faces uncertainty as MHA restricts freehold property sales

The Ministry of Home Affairs (MHA) has imposed new restrictions on Chandigarh's Sector 39 vegetable and fruit market, preventing the administration from auctioning 92 shop-cum-office (SCO) sites on a freehold basis. Initially planned with a reserve price of INR 3.75 crore each, these plots will now only be available on a leasehold basis, which may deter potential buyers. The Chandigarh administration has struggled to attract interest in leasehold properties, raising concerns about the future of the market and the region's real estate prospects. This shift highlights broader challenges in urban planning and property rights enforcement in Chandigarh.Read more

cover photo

Goa approves conversion of 15 land parcels to settlement zones

The Goa Town and Country Planning (TCP) Department has approved the conversion of 15 land parcels into settlement zones, affecting areas mainly in Ponda taluka, including Usgao, Bardez, and Old Goa. Previously classified as orchard or no-development zones, these changes were discussed in TCP meetings on July 10 and July 29. Utilising Section 39A of the Goa TCP Act, the department allows public objections within 30 days. Since February, 234 applications have been submitted for land conversion, reflecting heightened interest in development amid Goa's growth pressures. While aimed at boosting housing and investment, concerns about environmental impact persist.Read more

cover photo

Noida Authority crackdowns on developers non-compliance and construction delays

The Noida Authority will impose strict penalties on property developers who have not adhered to the Uttar Pradesh government's rehabilitation package. Developers who failed to pay 25% of their recalculated dues face potential loss of lease deeds, allocated plots, and unsold inventory. Of 57 assessed projects, 27 paid the required advance, but 16 made no payments and 14 partial ones. The Authority is also targeting industrialists and businesses for construction delays and unauthorised land use. Measures to improve urban infrastructure and public health standards are also being implemented as part of a broader development strategy.Read more

cover photo

Kerala eases licence renewals for older commercial buildings

Kerala's state government has announced the continuation of licence renewals for older commercial buildings, simplifying the regulatory process for businesses. This move aims to support property owners by easing compliance with modern laws, ensuring stability in the commercial real estate market. The initiative reflects Kerala's commitment to fostering a business-friendly environment, particularly benefiting small and family-run enterprises. By maintaining operations without excessive costs or bureaucratic hurdles, the state is balancing regulatory compliance with the practical needs of businesses, encouraging investment in older buildings while preserving the local heritage.Read more

cover photo

Haryana High Court suspends Gurgaon's four-floor policy amid infrastructure concerns

The Punjab and Haryana High Court has postponed the next hearing on the stilt-plus-four (S+4) floors policy to September 3. The policy, which allows four-floor buildings on residential plots, was paused after concerns about its impact on Gurgaon's infrastructure. The Gurgaon Citizens Council (GCC) challenged the policy, leading to a court-ordered suspension until further review. Builders sought to join the case, but GCC opposed their involvement. They emphasised the need for an environmental impact assessment, citing strained city services like water and sewage. They argue that reimplementing the policy without infrastructure upgrades would further damage the city's urban fabric.Read more

cover photo

Goa's Urban Development Minister orders full digitization of civic services

The Goa's Urban Development Minister, Vishwajit Rane, directed all municipalities to digitize all the civic services within the next 15 days, emphasizing online accessibility for services, including tax collection. Rane instructed the chief officers to inspect their jurisdictions, utilize the unused funds, and identify beneficial projects. He also discussed regularizing the contractual municipal employees and introduced field logs for chief officers. Nearly complete GIS mapping for the North of Goa was announced, with plans for South Goa underway. Additionally, Rane mentioned potential amendments to the Goa Municipalities Act, which could require builders to fumigate construction sites, possibly through an ordinance.Read more

cover photo

Thane police investigates 13 people in connection with the MHADA redevelopment fraud

Thirteen individuals are under investigation for their alleged involvement in a INR 200 crore fraud linked to the redevelopment of buildings on MHADA land. The Thane police reported that a firm fraudulently secured a INR 200 crore loan using a fake mortgage deed, which was not used for the intended redevelopment. Additionally, a housing society chairperson allegedly issued a No Objection Certificate without proper approvals. The ongoing investigation aims to uncover the full extent of these irregularities and highlights the need for increased transparency and regulation in housing redevelopment projects. The case may prompt broader reforms in Maharashtra's redevelopment sector.Read more

cover photo