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

Bombay High Court grants CIDCO permission to clear mangroves for Ulwe Coastal Road

The Bombay High Court has granted permission for the City and Industrial Development Corporation (CIDCO) to clear 3,728 mangroves, enabling the construction of the 5.8 km Ulwe Coastal Road connecting the Mumbai Trans Harbour Link (MTHL) to Navi Mumbai and the upcoming Navi Mumbai International Airport. The decision followed CIDCO's adherence to environmental clearances, including compensatory plantations. While acknowledging the importance of the project, the court urged expeditious compensation processes for affected parties under the 2013 Act.Read more

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PM Modi launches Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan with Rs 24,104 crore budget

Prime Minister Narendra Modi is set to release the first installment of the Pradhan Mantri Awas Yojana - Gramin scheme under the Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM-JANMAN). Launched in November, this initiative focuses on holistic development for 75 particularly vulnerable tribal groups with a budget of Rs 24,104 crore. Over Rs 4,700 crore worth of projects, spanning housing, roads, anganwadis, hostels, and electrification, have been approved within two months. The outreach, ahead of the 2024 Lok Sabha polls, aims to address the socio-economic needs of these tribal communities through 11 critical interventions across nine ministries.Read more

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Bombay High Court rejects MHADA's bid for height relaxation near the International Airport

The Bombay High Court has dismissed Maharashtra Housing and Area Development Authority's (MHADA) plea for relaxed height restrictions on a proposed 40-storey building near Mumbai's International Airport. Citing the paramount importance of civil aviation safety, Justices Gautam Patel and Kamal Khata emphasized concerns raised by the civil aviation ministry's appellate authority regarding the building's height. MHADA sought to construct 560 low-cost housing units at Kopri village, Powai, within the airport's 4km radius. The court upheld the reduced height of 96.68m AMSL, rejecting MHADA's challenge and emphasizing universal civil aviation safety standards. The decision sets a precedent for responsible urban development near airports.Read more

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Bombay High Court paves the way for plot development stalled since 1968

The Bombay High Court has overturned a 1995 ruling, allowing construction above seven feet on a historic Altamount Road property in Malabar Hill. The property, initially a 38,000-square-yard plot conveyed in 1890, had restrictions imposed by Dady Manekji Limji, preventing structures above seven feet on the land. Despite subsequent conveyances and divisions in 1957, a 1995 city civil court order mandated the demolition of constructed columns above the said height. The recent High Court decision, citing evidence of high-rises in the vicinity, deems the restriction as outdated, paving the way for the property's long-delayed development.Read more

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Government planning to sell 2.91 lakh 'enemy property' shares in 84 companies

The Indian government has initiated the sale of over 2.91 lakh shares in 84 companies categorized as "enemy property" to individuals and corporations, marking a significant step in its asset disposal efforts. In the first tranche, about 1.88 lakh shares in 20 selected companies are open for bids from a diverse range of buyers until February 8, including individuals, NRIs, corporations, trusts, and more. The move aligns with the government's broader strategy to divest assets associated with individuals who migrated to Pakistan and China between 1947 and 1962, emphasizing wider participation and strategic financial planning.Read more

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NMC and police collaborate to remove 15 obstructive constructions in Gopal Nagar, Nashik

The Nagpur Municipal Corporation (NMC) has demolished 15 illegal constructions obstructing a drain in Gopal Nagar. Hindered by a lack of police protection, the NMC faced multiple unsuccessful attempts before a High Court petition by locals led to a December 2023 directive for police assistance. The demolitions aimed to address recurrent flooding and health hazards caused by unchecked encroachments. The operation, conducted under heavy police presence, successfully removed all unauthorized structures impeding the drain's flow, marking the resolution of a longstanding issue affecting residents in the Laxmi Nagar zone.Read more

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Andhra Pradesh Land Titling Act faces legal hurdles as Government admits delay in appointing officials

The Andhra Pradesh state government has informed the High Court that it has not yet appointed land titling officers and appellate authorities as required for the implementation of the AP Land Titling Act. This revelation came during a hearing on multiple petitions challenging the constitutional validity of the Act. The state government has sought the High Court's directions to lower courts, urging them not to reject land dispute petitions due to the delayed enforcement of the new legislation. The Act has faced opposition from various bar associations, with concerns about its impact on the judiciary's powers and potential issues such as corruption and political influence.Read more

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Thane Municipal Corporation intensifies its crackdown on illegal constructions

Thane Municipal Corporation, led by Commissioner Abhijit Bangar, announced a stringent month-long demolition drive against illegal constructions starting January 10. This action, backed by Chief Minister Eknath Shinde's directive, targets notorious areas like Kalwa, Mumbra, and Diva. The operation, under the Maharashtra Prevention of Dangerous Activities Act, includes demolishing unauthorized structures and penalizing landlords for reconstruction. The drive aims to dismantle illegal buildings completely, with significant police and civic force deployment. This initiative, amid past corruption concerns, marks a determined effort to eradicate the city's long standing illegal construction issues.Read more

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ED attaches properties worth Rs 6.93 Crore in money laundering case against builder Shailesh Savla

The Enforcement Directorate (ED) has provisionally attached properties totaling Rs 6.93 crore belonging to builder Shailesh Savla in connection with a money laundering case linked to the rehabilitation of slum dwellers at the Juhu Taj Slum Society. The ED recently filed a chargesheet against Savla and his companies for selling flats intended for slum dwellers to influential individuals. The case involves irregularities in the allotment of residential accommodation and shops under the Juhu Taj Slum Rehabilitation Scheme, with Savla allegedly selling "slum flats" to prominent figures under fraudulent circumstances. The provisional attachments include a residential flat and fixed deposits.Read more

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DDA's e-auction draws fierce competition with 274 flats booked in 'Diwali Special Housing Scheme – 2023’

In a highly successful e-auction, the Delhi Development Authority (DDA) witnessed remarkable demand, with 274 apartments, including penthouses and super HIG flats, swiftly booked under the prestigious 'Diwali Special Housing Scheme - 2023.' Offering diverse options, especially in Dwarka, the scheme caters to discerning homeowners. Marked by intense bidding and premiums reaching 80%, this event reflects a robust market appetite for DDA properties. The resounding success of this e-auction, coupled with the ongoing 'first come, first serve' scheme, signifies the DDA's steadfast commitment to providing accessible and premium housing solutions in Delhi.Read more

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