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

CIDCO's inclusive housing scheme: Affordable housing opportunities in the NAINA region

CIDCO (City and Industrial Development Corporation) is implementing its Inclusive Housing Scheme (IHS) in the NAINA region to provide housing opportunities for economically weaker sections (EWS) and lower-income groups (LIG) through private developers. This initiative follows the Development Control and Promotion Regulations (DCPR) of the NAINA project, reserving 20% of the total plot area for EWS and LIG housing. A total of 171 tenements are being introduced, with a lottery system facilitating the selection process for eligible candidates. CIDCO's user-friendly online application process and social media outreach ensure wider awareness and accessibility, aligning with its mission of creating inclusive and equitable communities.Read more

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NCLT rejects IBC plea, cites settlement and full payment in Orris Infrastructure dispute

The National Company Law Tribunal (NCLT) has dismissed an insolvency plea against Orris Infrastructure, emphasizing that the Insolvency & Bankruptcy Code (IBC) should not be used as a tool for mere recovery. The case involved buyers of office spaces who had already received payments exceeding the alleged default amount as per their agreement. The NCLT stressed the importance of honouring contractual agreements and settling disputes through mutual agreements. The ruling highlights the principle that the IBC should not be employed for recovery when disputes have already been resolved through settlements between the parties involved.Read more

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Serious fraud charges arise from land registry irregularities in Dehradun

The Dehradun city police have initiated two cases against unidentified individuals for alleged forgery, fraud, and involvement in a criminal conspiracy related to land registry records. These cases stem from complaints lodged by assistant inspector general Sandeep Srivastava at the deputy registrar's office. The complaints allege that land records for two properties, dating back to 1979 and 1989, were forged. In one instance, a property's documents were falsely transferred to another individual, while a similar irregularity was discovered in the records of another property. This development highlights concerns of fraudulent land transactions in Dehradun.Read more

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Delhi Labour Ministry introduces mobile vans for on-site registration of construction laborers

The Delhi government, led by the Aam Aadmi Party, is set to launch mobile registration vans to register construction workers at labour sites across the city. This initiative aims to enable workers to access government welfare schemes more easily. Delhi Labour Minister Raaj Kumar Anand announced this plan after a meeting with department officials. Additionally, a skill development program tailored for construction workers will be introduced, offering them opportunities to enhance their skills and find new job prospects. The labour department will also raise awareness about welfare schemes by distributing newsletters at construction sites, demonstrating the government's commitment to workers' well-being.Read more

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Supreme Court expresses concerns over alleged corruption in Noida Authority

The Supreme Court of India has expressed serious concerns about alleged widespread corruption within the Noida Authority, suspecting officials of embezzling significant public funds through wrongful approval of excess compensation in land acquisition cases over several years. The Court has called for an independent agency to conduct a comprehensive investigation in response to these allegations. Justices This decision follows revelations that the case is part of a broader pattern involving questionable compensation disbursements by the New Okla Industrial Development Authority. The Supreme Court expects a detailed response from the Uttar Pradesh government during the next hearing on October 5.Read more

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Bombay High Court orders BMC to issue builder TDR within four weeks

The Bombay High Court has issued a significant directive ordering the Brihanmumbai Municipal Corporation (BMC) to grant a Transferable Development Rights (TDR) certificate to a private builder. This decision was prompted by the builder's land ownership and subsequent surrender for the construction of the Sahar Elevated Ring Road, a crucial project leading to Mumbai's International Airport Terminal 2. The ruling, delivered by a bench comprising Justices Gautam Patel and Kamal Khata, followed an affidavit from the Mumbai Metropolitan Region Development Authority (MMRDA) disclaiming jurisdiction over the road's segment on the builder's land.Read more

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Chandigarh's real estate sector seeks a balanced approach to heritage preservation

The Property Federation Chandigarh has called upon the UT administration to reconsider the Heritage Committee's decision regarding re-densification in Phase-I (Sector 1 to 30) of Chandigarh. During their annual meeting, members requested the administration to reinstate share-wise registries in sectors beyond Sector 30, potentially increasing revenue through stamp duty. They urged the adviser to review the Heritage Committee's verdict and propose amendments to the heritage status of Sectors 1 to 30 to the ministry of home affairs. The meeting also highlighted operational challenges at the Estate Office, prompting plans for a delegation to meet with Chandigarh's finance secretary to address these issues.Read more

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DDA's upcoming housing scheme to offer 3,000 premium properties in Delhi

The Delhi Development Authority (DDA) is set to launch a housing scheme offering 3,000 premium properties, including penthouses, Super HIG, HIG, MIG, and EWS flats in various locations. These properties, some of which are under construction, will be allocated through a draw of lots. DDA aims to improve sales and has engaged a real estate consultant to suggest strategies. They may also introduce changes like allowing amalgamation of adjoining flats and preferential location charges based on factors like floor and sun-facing. Another scheme offering 23,000 newly-constructed flats, mainly LIGs, is planned for the Narela sub-city in the near future.Read more

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Land Assignment Act amendments allow regularization of illegal constructions in Munnar

The Kerala assembly has passed amendments to the Kerala Land Assignment Act of 1960, paving the way for the regularization of numerous illegal commercial constructions in the ecologically sensitive region of Munnar. The move is in response to the discovery of 226 illegal constructions in eight villages in Munnar, which have been reported to the high court. The Kerala Land Assignment (Amendment) Bill of 2023 introduces a new section, granting the government authority to regularize illegal constructions and land misuse. While it aims to address the issue of unchecked illegal constructions, the decision has generated both support and controversy within Kerala, as it marks a significant shift in land-use policies in the region.Read more

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Delhi High Court reiterates ban on tree felling for residential construction

The Delhi High Court has upheld its ban on granting tree felling permissions for residential construction, reiterating its commitment to protect the city's green cover. The court has given the Delhi government two weeks to provide a report on the status of transplanted trees and whether these efforts have been successful. This decision stems from a petition seeking contempt action against officials who continued to grant tree felling permissions despite court orders for transparency in such decisions.Read more

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