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

Jilling Estate development receives conditional approval from High Court

The recent decision by the High Court regarding the Jilling Estate in Nainital has granted permission for third-party landowners to engage in construction activities within the 36-acre area. However, this permission comes with stringent conditions, closely aligned with environmental guidelines. The Court emphasized the role of the State Environment Impact Assessment Authority (SEIAA) in monitoring and ensuring compliance with commitments, including a strict limit on the total built-up area. The government is tasked with reporting violations, highlighting the commitment to environmental safeguarding. Moreover, the decision underscores that the construction permit does not exempt developers from obtaining necessary legal permissions, emphasizing adherence to the rule of law and responsible development.Read more

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Supreme Court halts evictions, maintains status quo for Mumbai’s conservancy workers

The Mumbai Municipal Corporation (BMC) and the Maharashtra government have been directed by the Supreme Court to retain the current housing status for conservancy workers who have long yearned for home ownership. Due to BMC intentions to revamp the colonies as part of the Ashray Yojana Program, many workers who reside in BMC colonies have received eviction notices. The workers' union requests owning apartments in accordance with government directives, but the BMC has not implemented these suggestions. While the greater housing issue for conservancy employees is yet unresolved, the Supreme Court's interim injunction offers transient relief.Read more

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Gujarat High Court intervenes to save builder's family from homelessness

A Vadodara-based builder, Manish Patel, faced jail time and homelessness for failing to deliver possession of properties to buyers in his schemes for over six years. The Gujarat High Court temporarily stayed the Gujarat Real Estate Regulatory Authority's (GujRERA) property attachment and sealing order, providing relief to Patel's family. The court intervened after Patel assured he would deposit the Rs 1.48 crore compensation demanded by RERA for delayed possessions. Patel's house was spared from auction, but he must deposit 30% of the compensation within four weeks and the full amount in seven to eight months. Further hearings are scheduled in a month.Read more

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Fraudulent redevelopment deal lands Mumbai builder behind bars

The Mumbai Police's Economic Offences Wing (EOW) has arrested builder Kinnar Nayak for his alleged involvement in a case of fraud related to a redevelopment project in Mumbai. Nayak, the director of Taksha Spaces, had approached the complainant, Amjad Shaikh, and his father in 2015, requesting a substantial sum of Rs 35 crore for a redevelopment project at the Govardhan Cooperative Housing Society in Goregaon. Shaikh transferred Rs 30 crore to Nayak's accounts but, despite promises, Nayak failed to fulfill his commitments. The case underscores the importance of due diligence and legally binding agreements in real estate transactions to prevent fraudulent activities.Read more

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ED attaches properties worth Rs 19.67 crore in Bhubaneswar loan fraud case

The Enforcement Directorate (ED) has attached properties worth approximately Rs 19.67 crore in connection with a loan fraud case allegedly involving builder Uma Shankar Patro and three former bank officials in Bhubaneswar dating back to 2017. The case, which originated from three FIRs registered by the Central Bureau of Investigation (CBI), revolves around the alleged misappropriation of Rs 18.79 crore through multiple housing loans. The attached properties include movable assets like bank balances and mutual fund balances, as well as immovable assets such as land and buildings in Puri and Bhubaneswar. The accused allegedly used forged documents to secure loans and misappropriate public funds.Read more

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Tamil Nadu Government invests Rs 79 crore in housing for Scheduled Tribes and Narikuravars

The Tamil Nadu state government has allocated Rs 79.28 crore to construct 1,500 homes for the Scheduled Tribes (ST) and Narikuravar communities. This initiative aims to provide housing for 1,000 homeless ST members and 500 Narikuravars across 19 districts in the state. The housing grant was formalized through a government order (G.O.), reflecting the government's commitment to providing homes to eligible recipients. Originally budgeted at Rs 45 crore, the project's cost was increased to Rs 79 crore after a comprehensive assessment. This initiative is part of a broader strategy to transition these communities into settled lifestyles, including providing land rights and support for employment and entrepreneurship.Read more

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Hyderabad grants 11,700 residents new 2BHK homes under government scheme

In a significant push for affordable housing, 11,700 two-bedroom flats were allotted to beneficiaries in Hyderabad recently. This allocation by the Greater Hyderabad Municipal Corporation (GHMC) responds to the 7 lakh applications received since the scheme's announcement. Minister Talasani Srinivas Yadav, who stepped in for the absent MA&UD Minister KT Rama Rao, emphasized the scheme's transparency and assured further allotments for eligible candidates. The move signals the Telangana government's dedication to enhancing the city's housing infrastructure.Read more

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ED attaches 161 crore worth of land in Jharkhand land grabbing case

The Enforcement Directorate (ED) has attached three land parcels worth over Rs 161 crore in Ranchi as part of a money laundering investigation related to land grabbing and fraud in Jharkhand. A fresh charge sheet has been filed in Ranchi, with previous action taken on June 12. Jharkhand Chief Minister Hemant Soren has been summoned for questioning but has not appeared, reportedly filing a petition against the ED's actions in the Supreme Court. These land parcels were allegedly fraudulently mutated in favour of land mafias with the complicity of land revenue department officers. The total attachment of properties now stands at Rs 236 crore in this case.Read more

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GNIDA unveils ambitious Master Plan 2041 for Greater Noida's transformation

The Greater Noida Industrial Development Authority (GNIDA) is advancing its Master Plan 2041, aiming to allocate more land for industrial use and capitalize on its proximity to the Noida International Airport by establishing a commercial hub. Currently, 25.4% of the proposed 40,000-hectare Phase 2 area is designated for industries, a share the state government seeks to increase. Although preliminary approval has been granted, final authorization awaits stakeholder discussions and public input. This initiative also promotes mixed land-use near the upcoming Noida International Airport, with plans for road extensions, hospitality hubs, and enhanced transportation infrastructure, including metro and green corridors.Read more

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Chhattisgarh cabinet approves sanctioning of houses to 6,99,439 beneficiaries under PMAY-Gramin

In Chhattisgarh, ahead of the assembly elections, the state government has approved housing for 6,99,439 eligible beneficiaries who were on the permanent wait list of the Pradhan Mantri Awas Yojana (Gramin). The government is also implementing the Gramin Awas Nyay Yojna-Rural (GANY) to address housing needs for those excluded from the 2011 census. This initiative aims to provide durable homes, with 100% state funding allocated for construction, and a budget provision of Rs 100 crore for the fiscal year 2023-24.Read more

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