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

Telangana CM urges officials to draft a master plan-2050 for Warangal's development

Telangana Chief Minister A. Revanth Reddy visited Warangal, urging officials to draft a 'Master Plan-2050' for the city's development on par with Hyderabad. He urged expedited land acquisition for Inner and Outer Ring Roads, proposing their integration with national highways. Under the 'Smart City mission', Reddy implemented plans for an underground drainage system and drinking water pipelines. He expressed concern over escalating costs for a super-specialty hospital and called for a forensic audit. Reddy also unveiled plans for digital health cards, which aim to detail citizens' medical histories and facilitate seamless healthcare access.Read more

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Bombay High Court orders BMC to develop new cemeteries in Govandi-Deonar area by year-end

The Bombay High Court has urged the Brihanmumbai Municipal Corporation (BMC) to address the shortage of burial grounds for Sunni Muslims in Govandi-Deonar. Responding to a petition, the BMC assured the court of ongoing efforts to meet the demand. The court ordered the development of three identified plots by year-end, located next to Deonar colony, at Rafi Nagar, and near Hindustan Petroleum Corporation Limited. BMC Commissioner Bhushan Gagrani confirmed land allocation and development plans. Additionally, a private firm, Oswal Agro Mills Ltd, agreed to provide a plot in Anik village. The BMC is working to finalize land possession and development.Read more

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Maharashtra Government approves 500-square-foot flats for Kamathipura redevelopment

Ahead of the assembly election, the state government has initiated a significant redevelopment project in Mumbai's Kamathipura, historically a red-light district with many old buildings. A government resolution promises a free 500-square-foot apartment to landowners and tenants under Regulation 33(9) of DCPR-2034. Landowners receive additional flats based on plot size. The Kamathipura Punarvikas Samiti had long advocated for this change due to financial constraints. MHADA, appointed as the nodal agency, conducted a survey and appointed a project management consultant.Read more

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PMC demolishes 15 illegal properties on DP road following Bombay High Court decision

The Pune Municipal Corporation (PMC) has begun demolishing 15 illegal properties along DP Road, from Mhatre Bridge to Karvenagar, in compliance with a recent Bombay High Court ruling. The court denied interim relief to property owners who had reconstructed structures despite previous demolitions. The properties, including marriage halls and eateries, were demolished to uphold environmental standards. PMC officials, noting past legal challenges, underscored their commitment to executing court orders and preserving the green belt area. This action marks a continuation of efforts to curb unauthorised constructions and maintain ecological balance in the city.Read more

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Green activist challenges commercial development on 24-acre Bandra reclamation land

The Bombay High Court has intervened in a Public Interest Litigation (PIL) filed by environmental activist Zoru Bhathena, challenging the Maharashtra State Road Development Corporation's (MSRDC) plans to develop 24 acres of Bandra Reclamation land. The PIL argues that such development violates Coastal Zone Regulation (CRZ) norms meant to protect India's coastlines. Mumbai's population of over 20 million highlights the need for green spaces to mitigate environmental challenges. The court's scrutiny reflects concerns over potential ecological impacts and sets a precedent for sustainable development practices on reclaimed land, crucial for future urban planning in coastal cities.Read more

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Haware Citi residents protest against RMC plants 300 metres from homes and national park

Residents of Haware Citi in Thane, Maharashtra, comprising over 7,000 residents across 28 towers, are opposing the construction of two ready-mix concrete (RMC) plants just 300 metres away. These plants, built by Megha Engineering and Infrastructure Ltd. for a tunnel project, have sparked concerns over dust pollution, air quality, and noise, particularly impacting nearby schools and the sensitive Sanjay Gandhi National Park ecosystem. Despite Maharashtra Pollution Control Board approvals, residents, backed by housing societies, are demanding the Thane Municipal Corporation relocate the plants, citing health risks and environmental damage. A planned protest underscores their determination to safeguard community well-being amidst infrastructure development.Read more

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Public-private partnerships to address Maharashtra's affordable housing needs

Maharashtra has fallen short of its target to build 1.94 million affordable housing units by March 2024, sanctioning only 1.36 million units and completing 0.84 million. This leaves a significant gap of 5.75 lakh units, impacting low- and middle-income residents. To bridge this deficit, the state is leveraging public-private partnerships (PPPs), approving 10 joint ventures to construct over 47,000 homes for economically weaker sections and low-income groups. Industry experts advocate for tax incentives and streamlined approvals to further stimulate affordable housing development. Maharashtra's focus on PPPs signals a proactive step, yet comprehensive strategies are essential to meet housing needs effectively.Read more

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Bengaluru homebuyer wins INR 4.2 crore compensation for delayed luxury apartment

Poonam Prabhu has been awarded INR 4.2 crore in compensation by the Karnataka Real Estate Regulatory Authority (KRERA) after Embassy One Developers failed to deliver her luxury apartment on time. Ms. Prabhu purchased the apartment for INR 7.8 crore in 2016, with an expected handover date in 2018. However, the apartment remained incomplete as of June 2024. KRERA ordered the developer to compensate for the delay and imposed additional interest for further delays. Embassy Group has challenged this decision in the Karnataka High Court, obtaining a temporary stay. This case emphasises the importance of RERA in safeguarding homebuyers' rights and ensuring project accountability.Read more

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Ghaziabad development authority to audit properties for future projects

The Ghaziabad Development Authority (GDA) is set to audit its lands and properties, aiming to facilitate new residential and commercial projects on vacant lands. With properties worth over INR 1,000 crores in Indirapuram alone, the audit will identify the status of unused and encroached lands, paving the way for development. The Land Acquisition Department will gather detailed information, which will be digitised for streamlined decision-making. This initiative will also address pending legal disputes, boosting investor confidence. The audit aligns with urban development and sustainability goals, promising new infrastructure and a more organised use of resources for Ghaziabad's future growth.Read more

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Church fights to keep 1,309 sqm land for public park in Borivali West, Mumbai

A Mumbai court has ruled in favour of Our Lady of Immaculate Conception Church in Borivali West, safeguarding a 1,309 square metre plot earmarked for a public park adjacent to Mandapeshwar Caves. The Brihanmumbai Municipal Corporation (BMC) sought the land using Transferable Development Rights (TDR), but the church, a registered charity, insisted on fair monetary compensation instead. Justices Girish Kulkarni and Arun Pednekar supported the church's stance, emphasising that TDR can only be offered with landowner consent under the Maharashtra Regional Town Planning Act. This verdict sets a precedent for land acquisition disputes, stressing the need for fair compensation and respecting landowners' rights amid urban development challenges.Read more

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