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

Punjab's PMAY-G efforts provide 34,000 families with permanent housing solutions

Under the Pradhan Mantri Awas Yojana- Gramin (PMAY-G) scheme, Punjab's rural development and panchayats department has sanctioned 40,326 houses. Minister Laljit Singh Bhullar reported that 34,784 houses have already been allotted to needy families, while Rs 21.23 crore was released for constructing the remaining 5,559 houses, with completion expected by December. The disbursement includes Rs 30,000, Rs 72,000, and Rs 18,000 instalments for different beneficiaries. The initiative not only aims to provide pucca houses but also ensures essential amenities, electricity, water, gas, and employment opportunities under MGNREGA, alongside provisions for animals and environmental sustainability.Read more

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Pune administration's gunthewari regularization scheme likely to be extended by three months

The Pune Municipal Corporation is considering extending its gunthewari regularization scheme by three months due to a lacklustre response. Since its reintroduction last year, only 21 out of 856 proposals have been approved, with high costs and complex processes deterring property owners. The scheme aims to regularize unauthorized subdivisions of privately owned land, but limited geographic applicability and documentation hurdles have hindered its success.Read more

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Noida Authorities introduce six-point strategy to expedite housing projects and secure dues

The Noida and Greater Noida authorities have announced a comprehensive six-point plan to resolve delays in housing projects and recover outstanding dues. Key measures include cancelling inactive project allotments and integrating co-developers to complete viable stalled projects. With builders owing over Rs 41,000 crore collectively to both regions, the new strategy also offers flexibility in payments and innovative solutions for projects nearing completion but hindered by liabilities. These actions were derived from discussions during the chief minister's recent Noida visit and a central government committee's recommendations.Read more

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Elderly residents of Parel tower appeal to Bombay High Court for restoration of refuge areas

Two senior citizens have appealed to the Bombay High Court to take action against those encroaching upon refuge areas in Kingston Tower, Mumbai, and restore them to their approved plans. The building, constructed under a SRA scheme, received an Occupancy Certificate up to the 26th floor in April 2013. Subsequently, violations emerged as flats were sold above this level, incorporating refuge areas into higher floors and blocking access to common terraces. Despite reporting violations to the BMC and the fire officer, no action was taken. The High Court directed BMC to address the complaint within two weeks, underscoring the importance of adhering to plans and safety regulations in construction projects. This intervention highlights the commitment to safety in the face of unforeseen events.Read more

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Private Constructions on Public Land: Challenges to Nagpur's Inner Ring Road Project

Two government-owned plots of land in Nagpur have been encroached upon by private parties who built structures without proper permits. The Nagpur Improvement Trust issued demolition notices for these unauthorized constructions in the Dwarkapuri Cooperative Housing Society. The plots were originally designated for the Inner Ring Road. Although the private parties obtained a status quo order from the Minister of State for Urban Development, the removal of these encroachments is necessary for the construction of the Inner Ring Road. Society members have raised concerns about officials protecting illegal activities and have appealed for government intervention. A Public Interest Litigation has been filed to challenge regularization permits under the Gunthewari Act for these plots. The completion of the Inner Ring Road will greatly benefit citizens as part of the National Highway system.Read more

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Telangana mandates RERA test and certification for aspiring property agents

Telangana RERA's Chairman, N Satyanarayana, has revealed that the organization is in the process of developing a comprehensive module for aspiring property agents. Engaging various stakeholders, the initiative aims to enhance the credibility of realtors, who frequently represent property transactions. This move underscores the significance of agents in property deals and their pivotal role in maintaining transparency and trust within the real estate sector. Collaboration with industry associations and premier institutions is underway to ensure smooth implementation and promote transparency within the sector.Read more

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Bombay High Court directs BMC panel to evaluate run-down Kurla structures

The Bombay High Court has directed the BMC's Technical Advisory Committee to independently assess structures damaged by unauthorized tenant demolitions along Old Agra Road in Kurla. Justices Patel and Khata emphasized excluding private audit reports and ruled reconstruction should halt. The move addresses widespread damages caused by tenants and ensures proper authorization for repairs. The court ordered the landlord to present repair plans on September 13 and warned tenants against obstructing the assessment, hinting at potential contempt proceedings.Read more

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Delhi LG greenlights DBT System for expanded construction worker welfare

In a strategic decision aimed at enhancing efficiency and impact, authorities have announced the implementation of a Direct Benefit Transfer (DBT) system for construction worker welfare programs. This measure is anticipated to reduce inefficiencies and ensure precise allocation of benefits. Notably, this step seeks to enhance working conditions, elevate quality of life, and uphold the well-being of construction laborers. The move is aligned with the overarching goal of curbing wastage, while also fostering more targeted and impactful support for this essential workforce.Read more

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State Government's indecision on stilt-plus-four floors policy leaves Gurugram residents in limbo

The uncertainty surrounding the stilt-plus-four floors policy in Gurugram is causing distress for plot owners and homebuyers. The policy's approval has been on hold since February, hindering construction plans for residential buildings. Despite receiving recommendations from an expert committee to revise building codes and address concerns back in February, the government's decision remains pending. This indecision impacts those who purchased plots under the policy, leaving them in limbo. Additionally, developers are raising concerns about lacking infrastructure upgrades in licensed colonies, compounding the challenges faced by residents. The delay underscores the need for a timely resolution to provide clarity and enable property development in the region.Read more

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BBMP: Illegal A-khata holders to get 15 days to file objections

Officials from BBMP have issued notices to nearly 9,736 alleged illegal A-khata property holders in Bengaluru, giving them 15 days to prove the legitimacy of their A-khatas or have their properties shifted to the B-khata registry. An investigation revealed that over 45,000 A-khatas were issued since 2014, with suspicions that many were illegally obtained due to erroneous development charge collections. Zonal teams are currently reviewing all A-khatas, potentially leading to more reclassifications.Read more

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