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

New regulatory measures to accelerate high-rise construction in Chennai

Chennai's skyline is primed for a dramatic transformation as more high-rise buildings are expected due to a recent shift in regulatory control. The government has resumed authority over planning permissions for high-rise constructions from the Chennai Metropolitan Development Authority (CMDA). This development has been met with applause from the construction sector, which anticipates quicker project turnovers. However, builders also express caution, recalling past instances of bureaucratic stagnation. The change aims to enhance the oversight process, prevent delays, and potentially stimulate Chennai's housing industry, with implications for employment and related sectors.Read more

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Delhi Development authority assigns over 1,000 affordable homes in Jwalapuri Bagh and Ashok Vihar

In a significant move, the Delhi Development Authority (DDA) has assigned 1,078 flats to economically weaker section (EWS) families in Jwalapuri Bagh and Ashok Vihar. This initiative is a part of the Seetu Punarwas Yojana, aimed at replacing slums with affordable housing. The recipients were issued allocation letters on June 27. To facilitate this process, a facilitation centre was inaugurated by MP Harsh Vardhan. The centre will offer services such as biometric verification, loan assistance, and document processing for property possession.Read more

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CGWA recommends Rs 230 crore fine on 30 builders for groundwater misuse in Noida extension

The Central Ground Water Authority (CGWA) has recommended a substantial fine of Rs 230 crore on 30 developers operating in Greater Noida West, popularly known as Noida Extension. These developers have been accused of illegally extracting groundwater, and the case is currently being heard by the National Green Tribunal (NGT). The CGWA's recommendation follows an interim compensation of Rs 76 crore that was levied on 38 builders in May by a joint committee consisting of the Central Pollution Control Board, Uttar Pradesh Pollution Control Board, and the district administration.Read more

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Ahmedabad Development Authority's auction disappoints, with 4 out of 8 plots sold

The Ahmedabad Urban Development Authority's ambitious plan to sell 17 plots for Rs 1,238.35 crore has encountered significant challenges. In the initial auction phase, only four plots were sold, raising concerns. High prices and uncertainty over the new Jantri rates has deterred bidders. Two expensive plots in Vejalpur failed to attract any interest. AUDA refrained from auctioning six plots in Bhopal. Despite their efforts, the auction fell short of expectations. AUDA has not officially disclosed auction details, but insiders suggest disappointment. Nonetheless, two plots in Manipur-Godhavi and two in Chandkheda were successfully sold.Read more

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Haryana expert committee supports stilt-plus-four floors concept in residential construction

A four-member expert committee in Haryana has submitted a report recommending the implementation of the stilt-plus-four (S+4) floors concept in residential areas of the state. Led by former IAS and chairman of Haryana State Pollution Control Board P Raghuvendera Rao, the committee's report emphasizes safety measures, infrastructure considerations, and the well-being of occupants. Key recommendations include limiting occupancy levels, reducing building height for proper ventilation and sunlight, and addressing concerns about sewage systems and water supply. The report has been forwarded for examination, and the government's decision on its recommendations will shape the future of residential construction in the state.Read more

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Coimbatore civic body mandates SR Land Patta transfers for layout approvals

Coimbatore's town planning section of the corporation has introduced a new regulation pertaining to land development. According to an official from the section, any layout covering an area of 3,000 square meters or larger will now be required to allocate space for OR (Open Reserve) land. This decision aims to ensure the preservation of public spaces and enhance urban planning in the city. By mandating developers to earmark land for OR purposes, the Coimbatore civic body aims to strike a balance between urban development and the provision of adequate open spaces for the community.Read more

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Gujarat High Court takes action against unauthorized constructions in municipalities

The Gujarat High Court has requested information on the status of regularization applications for unauthorized constructions in municipalities across the state. In a PIL hearing, it was disclosed that 13,575 regularization applications have been received by 156 municipalities. The court directed the deputy commissioner of municipalities to submit details on actions taken, while also seeking updates on the regularization requests pertaining to unauthorized structures in Dholka. Two out of four builders responsible for the unauthorized constructions have already applied for regularization. The court expects the authorities to provide the requested information by August 9.Read more

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Federal agency seizes IREO's top executive amid corruption allegations

In an ongoing corruption investigation, IREO's CEO, Lalit Goyal, was arrested on Tuesday by the Enforcement Directorate (ED). The arrest, carried out in Gurugram, is part of a larger probe into alleged bribery involving a previously appointed judge. Goyal's arrest is the fourth made by the ED in less than a month, underscoring the agency's crackdown on corporate malfeasance. With the case raising serious concerns over collusion between corporations and the judiciary, it has drawn renewed public attention to the necessity for transparency in the legal system.Read more

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Telangana Government opposes partial merger of Secunderabad Cantonment Board

The Telangana government has taken a strong stance against the proposed partial merger of civilian areas within the Secunderabad Cantonment Board (SCB) into the Greater Hyderabad Municipal Corporation (GHMC). A preliminary report by an excision committee outlined the proposed transfer of civilian land to the GHMC while leaving defence land under the control of the SCB and Local Military Authority (LMA). The Telangana government's opposition sets the stage for potential negotiations with the defence ministry, and the final decision will have significant implications for administrative entities and affected residents.Read more

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Land allotment by JK administration to landless families under PMAY commences

JK Administration has successfully granted plots to a total of 2,711 landless families in Jammu and Kashmir. The allocation of land comes as part of the Pradhan Mantri Awas Yojana (PMAY), aimed at providing affordable housing to those in need. An official statement revealed that the administration plans to continue providing land to eligible families based on the existing list. The administration is determined to address the backlog of land allotments and aims to complete the process by March 2024.Read more

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