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

CCI takes action against Chandigarh Housing Board's unfair terms in housing scheme

The Competition Commission of India (CCI) has directed the Chandigarh Housing Board (CHB) to cease anti-competitive practices related to unfair terms in a housing scheme. While CHB held a dominant market position, no penalties were imposed as CHB had already taken corrective measures to address concerns regarding non-disclosure and penal interest. The CCI's decision reflects the importance of regulatory bodies in ensuring fair competition and highlights the significance of prompt and effective responses by entities to allegations of anti-competitive behaviour. This case underscores the need for transparent and equitable practices to maintain a level playing field in the market.Read more

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Maharashtra Housing Minister directs MHADA to issue notices for LIC building redevelopment

In a strategic endeavour to rejuvenate Mumbai's urban landscape, Housing Minister Atul Save has focused on the refurbishment of 68 aging cessed structures owned by the Life Insurance Corporation of India (LIC). The Maharashtra Housing and Area Development Authority (MHADA) will issue formal notices under the new section 79 (A) of the Maharashtra Housing and Area Development Act to address the revitalization of these structures deemed hazardous by the Municipal Corporation of Greater Mumbai. Spread across different areas of Mumbai, these buildings house 1,764 occupants. MHADA will facilitate the redevelopment process, with LIC expected to propose comprehensive plans within six months, ensuring a modernized cityscape while preserving its historic charm.Read more

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Gurugram's DTCP takes action, shuts 14 commercial outlets in residential zones

In a consecutive second day crackdown, DTCP's enforcement unit targeted illicit commercial setups within private residential colonies. A total of 14 establishments were sealed in DLF Phase 2, and over 150 businesses in DLF Phase II received warnings and restoration directives from DIP Enforcement. Led by DTPE Manish Yadav, the enforcement team sealed 14 operations spanning seven houses along Jacaranda Marg and Bougainvillea Marg. With 100 businesses already sealed in various licensed colonies, the enforcement drive remains ongoing, urging voluntary cessation to avoid immediate sealing actions.Read more

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Thiruvananthapuram announces 20-crore plan for Vikalanga Colony and LIFE Mission beneficiaries

Thiruvananthapuram's Municipal Corporation is set to undertake a transformative Rs 20-crore housing initiative, targeting residents of Vikalanga Colony and those enlisted under the LIFE Mission. The project, located at Muttathara, aims to relocate approximately 100 families currently enduring substandard conditions. This move, coupled with the upcoming housing for the fishing community, underscores the city's determination to improve living standards for its marginalized communities.Read more

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GMADA allots tender for grid road development in the Aerotropolis township

The Greater Mohali Area Development Authority (GMADA) has taken a significant stride by awarding a tender for the development of infrastructure in the "Aerotropolis" township. Estimated at Rs 195 crores, the project aims to create a modern living space, with completion expected by April 2025. Covering 5,500 acres, the development will proceed in phases, starting with grid roads across 1,650 acres. M/s SBEIPL-HRG (JV) has been chosen for this task, encompassing civil, public health, and electrical services. Aerotropolis's strategic location near the international airport and established townships positions it as a future-focused and sought-after destination.Read more

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HDMA's vacant plot auction generates modest revenue of 120 crore rupees

The Hyderabad Metropolitan Development Authority (HMDA) recently conducted an auction of vacant plots in the city, but the response was lacklustre. Out of the 26 plots put up for auction, only nine were successfully sold, contributing 120 crore rupees to the state government's revenue. HMDA officials explained that these unsold plots had various challenges like small size, vaastu concerns, and their proximity to other properties. The plots were located in areas such as Kokapet, Nallagandla, Manchirevula, and others across different districts. The auction revenue fell short of expectations, highlighting the complexities of property sales and local factors affecting demand and pricing.Read more

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Gautam Buddh Nagar industrial authorities collaborate for unified development

In a move towards greater efficiency, the three industrial development authorities in Gautam Budh Nagar are collaborating to establish uniformity in building bylaws, plot allocation charges, and allocation procedures. Directed by the infrastructure development commissioner, officials are presently reviewing existing policies and are expected to finalize a uniform framework within two months. The initiative aims to simplify new scheme implementation and offer convenience to diverse allottees. Currently operating under distinct policies, the authorities will harmonize processes, addressing concerns arising from disparities. The strategy also extends to public transport, road construction, and traffic management through a regional connectivity plan.Read more

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New TCP rules pave way for farmhouses on agricultural land in Goa

The 2023 amendments to Goa's Land Development and Building Construction Regulations by the TCP department embrace balanced urban growth. Changes include allowing farmhouses in agricultural zones under conditions, streamlining FAR regulations in villages, and prioritizing fire safety and compliance with the National Building Code. The collaborative approach, incorporating public input and committee reviews, underscores responsible development. The regulations ensure a harmonious blend of development, safety, and sustainability in Goa's evolving urban landscape.Read more

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Illegal constructions and tenant verifications pose threat in Kondhwa region of Pune

The surge in illegal constructions in Pune's Kondhwa area is exacerbated by lax tenant police verification. Recent events, like the Pune ISIS module arrests, highlight the significance of this issue. Many property owners avoid verification due to fear of repercussions. Police aim to raise awareness and warn of legal consequences. A former corporator states about 3,000 illegal properties exist, with inadequate PMC vigilance. Kondhwa's history with terrorism suspects compounds the problem, with an influx of residents from various regions and foreign nationals. Challenges arise from the lack of proper property identification and a need for stronger police presence. Efforts are being made for cooperation between property owners, authorities, and law enforcement.Read more

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DTCP launches inspection blitz against unauthorized construction in licensed colonies

To address building norm violations, the Department of Town and Country Planning (DTCP) has formed specialized teams to inspect 30 residential properties in licensed colonies where unauthorized construction allegedly occurred even after obtaining occupation certificates (OCs). Prompted by rising complaints, this move aims to investigate violations thoroughly and take necessary actions. Architects were empowered to issue OCs through self-certification, but concerns about ethical compliance prompted District Town Planners (DTPs) to review 10% of OCs issued. If violations are found during inspections, actions range from show cause notices to blacklisting architects and revoking OCs. This initiative reinforces the DTCP's commitment to maintaining construction integrity.Read more

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