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

MahaRERA to review and revive 7,500 stalled realty projects in Maharashtra

Maharashtra's Housing Minister, Atul Save, has announced a plan to review and revive 7,500 stalled realty projects in the state, based on recommendations from a committee led by former NITI Aayog CEO Amitabh Kant. The government aims to expedite the approval process for new developers to take over stalled projects, ensuring that homebuyers' investments are protected and lapsed plans are revitalized. This proactive approach addresses the concerns of both homebuyers and the real estate industry, reflecting the government's commitment to economic growth and timely project revival.Read more

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Jaga Mission advances to phase 2 by providing Land Rights Certificates (LRCs)

The second phase of the Jaga Mission, launched in 2018, is set to provide land rights certificates (LRCs) to eligible slum residents, part of a government initiative to eliminate slums and empower urban poor. The first phase achieved a significant milestone by granting LRCs to 51,000 slum dwellers, with 75,000 more identified beneficiaries. In August, 65,000 homeless families in 875 slums across five cities received LRCs, providing stability and recognition. BMC's preparation to distribute 5,500 LRCs in three zones highlights efficient execution. The mission operates within legal frameworks to grant homestead land, creating inclusive and equitable cities.Read more

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Uttar Pradesh RERA Authority implements measures for real estate transparency

Uttar Pradesh RERA Authority implements measures for real estate transparencyRead more

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Minister announces Haryana's pioneering role in nationwide property ID implementation

Haryana has become the first Indian state to implement the property ID system, receiving praise from Prime Minister Narendra Modi. Dr. Kamal Gupta, the Minister of Urban Local Bodies, announced this milestone, highlighting the integration of 34 lakh properties into the Property ID system for automated data entry from property registries. Furthermore, significant progress has been made in regularizing unauthorized colonies and granting ownership rights to long-standing shopkeepers. The government has also introduced SMS services for property-related updates and offered temporary tax relief. Additionally, an automated system for property registration will enhance efficiency, making Haryana a trailblazer in urban development and property management.Read more

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Jharkhand High Court panel conducts building inspections in Jamshedpur

A three-member panel, appointed by the Jharkhand High Court, conducted a surprise inspection of residential and commercial buildings within the Jamshedpur Notified Area Committee (INAC) limits. The inspection aims to determine whether the Jharkhand Municipal Act rules and Building Bylaws 2016 have been adhered to. The panel, consisting of Raj Nandan Sahay, Sudarshan Shrivastava, and Neeraj Pandey, scrutinized several structures in Bistupur, Sakchi, and other areas. The findings will be presented to the court, with the inspection continuing in the following days.Read more

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BMC razes unauthorised structures at private Dadar Zoo, weeks after notice

The Brihanmumbai Municipal Corporation (BMC) has demolished six unauthorized structures within the privately-run Marine Aqua Zoo in Dadar, following concerns over unauthorized development within the zoo. The structures included unapproved brick buildings and sheds made of bamboo, tarpaulin, and leaves. Despite a 15-day notice to remove these structures, the zoo management did not comply, leading to their demolition. The zoo had already been under scrutiny due to animals appearing in the nearby civic-run swimming pool. The BMC's actions emphasize the importance of adhering to regulations and ensuring responsible management practices within the zoo.Read more

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Builders in Mumbai navigate compliance challenges amidst pollution crackdown

The BMC in Mumbai has initiated stop-work notices for builders who fail to adhere to recent anti-air pollution guidelines. Multiple construction sites, including one in Mulund and Santacruz, received these notices. The Prestige City site in Mulund was found in violation of 13 conditions, leading to the notice. The guidelines cover various aspects, including the use of metal sheets, wet cloth, enclosed areas for certain tasks, and protective equipment for workers. Compliance is required within 15-30 days. However, some in the construction industry argue that these guidelines may lead to safety issues, and many of the required equipment are not readily available in the market.Read more

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Lack of documentation slows down registration process of construction workers in Maharashtra

The state of Maharashtra is struggling to get construction workers to register. Out of an estimated workforce of 70 lakh laborers employed across various construction sites, a mere 14 lakh are officially registered with the Maharashtra Labour Welfare Board. The sluggish pace of registration is primarily due to challenges in meeting registration criteria. This leaves unregistered workers and their families ineligible for essential welfare programs, such as health and accident insurance. Statistics show that accidents involving unregistered workers are alarmingly high on sites, making registration all the more imperative. To address this issue, the labour department is said to be streamlining the registration process and reducing the number of documents required for registration.Read more

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HRBR layout residents take a stand against illegal structures

Residents of HRBR Layout in Bengaluru have identified 130 illegal buildings, a mix of commercial and residential, that violate zoning regulations and lack adequate parking space. People expressed concern about the congestion and deteriorating living conditions due to the commercialization of the area. Despite premium charges for residential land, commercial buildings have been constructed, often with more than three floors and insufficient parking. Vehicles of employees and customers are being parked on roads, footpaths, and in front of other residential houses and gates, making it a nuisance to the people. Frustrated with the BBMP's inaction, residents petitioned the BBMP Chief Commissioner and Deputy Chief Minister, urging the cancellation of licenses for commercial buildings on residential plots.Read more

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Maharashtra set to unveil innovative housing policy with emphasis on walk-to-work

Maharashtra is set to introduce a revolutionary housing policy, emphasizing the "walk to work" concept in industrial zones. The policy is expected to come into effect next financial year. The new policy comes after 17 years and aims to enhance land availability for developers and streamline project approvals. Key features include rental housing for migrant workers, and specialized colonies for seniors. While there were proposed policies in 2015 and 2021, they were never approved. The present policy, shaped through consultations with developers and consumer groups, seeks to address Maharashtra's evolving housing demands in industrial cities like Nashik, Aurangabad, and parts of Mumbai Metropolitan Region (MMR).Read more

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