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

Mumbai Police issue notice for tenant information to prevent subversive activities

In a bid to prevent subversive activities and enhance security in residential areas, the Mumbai police have issued a notice requiring homeowners to provide details about their tenants. This order, effective for 60 days until November 7, aims to deter individuals with malicious intent from using residential areas for illegal activities. Landlords and homeowners within Mumbai's jurisdiction must submit tenant information through the citizen portal, including details of foreign nationals if applicable. This proactive measure underscores the importance of community safety and will be closely monitored for its impact on deterring subversive activities.Read more

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Mumbai builder and associates accused of misappropriating Rs 45 crore from 139 homebuyers

Mumbai's Economic Offences Wing (EOW) has charged a prominent builder and five associates for allegedly defrauding 139 homebuyers of Rs 45 crore. Funds were collected for the 'Maredian Heights' project in Jogeshwari (W), which remains incomplete. Initiated by a complaint from investor Moinuddin Bora, the EOW found that the developer began accepting payments in January 2008 but consistently missed delivery deadlines. The accused now face charges under the Indian Penal Code and the Maharashtra Ownership of Flats Act. Homebuyers eagerly await a resolution.Read more

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Uttar Pradesh's Apparel Park attracts more industrial units amid government incentives

The Yamuna Expressway Industrial Development Authority (YEIDA) in Noida, which oversees the Apparel Park Cluster, is attracting more industrial firms' attention, according to the Uttar Pradesh government. Out of the 89 available plots, 81 have already been allocated, and 70 more units want plots. With government approval, YEIDA intends to increase the floor area ratio (FAR) for industrial plots from 1.5 to 2.0 in order to promote industrial expansion. Additionally, these plots' ground coverage will rise to 60%. This development includes proposals for improved connectivity and infrastructure, as well as a designated cargo facility at the Noida International Airport.Read more

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Second FIR registered in 10 days over bid to encroach upon MMRDA plots in Mumbai

The Mumbai Metropolitan Region Development Authority (MMRDA) is facing another alleged land encroachment case, marking the second incident in less than 10 days. The police have registered a case against two individuals accused of attempting to encroach upon a 7,000 square meter plot owned by the MMRDA in the Bandra Kurla Complex (BKC). They are accused of illegally dumping construction debris on this valuable property. This comes after a similar case on September 2 involving encroachment on another MMRDA space in Kurla. Both cases highlight the challenges faced by the MMRDA in securing valuable plots in Mumbai's urban landscape, emphasizing the need for stringent security measures and enforcement of land regulations.Read more

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YEIDA announces new policies for industrial plots and real estate developers

The Yamuna Expressway Industrial Development Authority (YEIDA) has made significant decisions in its recent board meeting. They eliminated e-auctions for industrial plots, introduced a One-Time Settlement (OTS) policy for real estate developers, and revised the payment plan for group housing plots, allowing extended payment periods. The board also approved the Master Plan 2041, focusing on industrial and commercial growth, especially around the Noida International Airport area. Additionally, the Vrindavan-Raya Heritage City project's development area has been expanded to 1,500 acres along the Yamuna in Mathura, including a riverfront development. These measures aim to facilitate regional development and ease dues for developers.Read more

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Pune's merged villages demand UDCPR for Real Estate

Near Pune, 23 amalgamated villages' residents and local authorities are pleading with the state government to put the Unified Development Control and Promotion Regulations (UDCPR) into effect. Due to difficulties obtaining building permits brought on by the lack of Development Plan (DP) regulations, real estate development in these areas has halted. Construction is being hampered by this delay, which is also having an effect on developers and small property owners who need building permits. Given the anticipated population expansion, implementing the UDCPR could simplify this procedure and encourage development in certain areas. However, as the Pune Metropolitan Region Development Authority (PMRDA) currently possesses these rights, specific consent from the state government is required.Read more

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Indore's Malharganj Government land auction land for Rs 8 crores

The MP Public Assets Management Department is boldly auctioning prime land in Indore's Malharganj area for a remarkable Rs 8.19 crore. This innovative move aligns with the Madhya Pradesh government's strategy to monetize underused or encroached government properties, generating much-needed revenue. The department's portal currently showcases 11 Indore properties for monetization, seven of which are already sold, with more properties under review. A 13,560-square-metre piece of land in Gadrakhedi is up for auction between September 8 and 29, promising transformation and reshaping Indore's real estate landscape. This visionary initiative reflects the state's commitment to innovation and prosperity.Read more

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Chennai Corporation fines contractors for safety violations in drain construction

The Chennai Corporation has fined several construction contractors for failing to ensure safety measures during stormwater drain projects, including open pits. The corporation has formed specialized teams to ensure proper safety barriers are in place. Five contractors were fined Rs 20,000 each for inadequate site security. Activists argue that the fines should be stricter, including blacklisting repeat violators. The corporation aims to complete pending storm drain work by September 30, prioritizing missing links. Official data shows substantial progress in storm drain projects, with minor repairs and desilting ongoing.Read more

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Citizen's Vigilance: PIL prompts court intervention in Haridwar land case

A division bench of Chief Justice Vipin Sanghi and Justice Alok Verma has ordered the government to enforce compliance with land use laws following a PIL challenging construction on agricultural land without proper authorization. The petitioner, Atul Chauhan from Haridwar, raised concerns about a group housing project on 50 acres of agricultural land in Laksar, highlighting violations of land use regulations and the misuse of a natural water body. The court has directed the state government to submit an affidavit within four weeks and scheduled the next hearing for January 2, 2024, emphasizing the importance of upholding environmental and land use laws.Read more

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Preserving Authenticity: Sikkim's move to restrict third-party rentals of homestays

The government of Sikkim, a Himalayan state in India, has issued an advisory banning homestay owners from leasing or renting their properties to third parties. This directive, in accordance with the Sikkim Registration of Homestay Establishment Rules of 2013, requires that homestays be exclusively operated by the local entrepreneurs who own them. The move aims to promote local entrepreneurship and ensure compliance with established regulations. Any violations will be strictly addressed by the authorities. The Homestay Association of Sikkim had previously advocated for such a ban, and the state government also provides subsidized loans to encourage local participation in the tourism industry.Read more

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