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

Delhi HC rules that law offices in residential buildings will not be subject to property tax

The Delhi High Court has delivered a significant ruling, stating that advocate offices located in residential buildings should not be considered "business buildings" and therefore should be exempt from property tax. The court emphasized that the professional activities of lawyers should not be treated as commercial activities, as the Delhi Municipal Corporation Act does not grant the authority to tax professional activities conducted from residential premises. The court upheld the exemption of advocates' services from business establishment taxes, citing previous judgments and highlighting the need for explicit taxation powers in the relevant statutes.Read more

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DDA greenlights amalgamation of two flats under FCFS housing scheme

The Delhi Development Authority (DDA) has allowed the amalgamation of two adjacent flats as part of their new housing scheme, which has received a positive response with 4,000 registrations so far. Applicants purchasing two neighbouring flats can merge them by creating a common door through a shared wall, subject to necessary approvals. This provision also applies to those who already own a flat from a previous scheme. The scheme offers 1-BHK, 2-BHK, and 3-BHK flats in various locations across Delhi, providing flexibility and personalized living spaces to meet the diverse needs of potential homeowners.Read more

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Recovery certificates worth Rs 1,200 crore resolved since 2018

Uttar Pradesh Real Estate Regulatory Authority (UP RERA) Chairman Rajive Kumar announced the successful resolution of recovery certificates worth Rs 1,200 crore across the state since 2018. This achievement was made possible through recovery efforts and mutual consent. The financial year 2022-23 contributed approximately 33% of the total resolved certificates. Chairman Kumar highlighted the effectiveness of the Conciliation Forum in resolving over 1,200 cases, resulting in Rs 485 crore worth of property disputes being resolved. Additionally, he inaugurated a coffee-table book chronicling UP RERA's achievements since its establishment in 2018.Read more

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Karnataka Deputy CM orders formation of panel to address apartment issues

Shivakumar, the Deputy Chief Minister of Karnataka, has responded to the appeals made by concerned individuals and directed government officials to establish a committee. This committee will consist of representatives from both the government and apartment federations, aiming to foster effective coordination and address a range of issues. The primary objective of this committee is to tackle the challenges faced by apartment residents and work towards finding suitable solutions. By bringing together key stakeholders, including government officials and apartment federation members, Shivakumar aims to enhance collaboration and ensure a systematic approach in resolving the concerns raised by residents.Read more

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Karnataka government considers 'B' khatas for non-Bengaluru unauthorized layouts

The Karnataka government, led by Minister Byrathi Suresh, plans to grant 'B' khatas to unauthorized urban properties, excluding Bengaluru. This move aims to facilitate property sales and bank loans. The initiative is expected to contribute around Rs 1,100 crore to the state exchequer. The government is refining the plan, and an official order will be issued soon. Additionally, a committee is reviewing the Akrama-Sakrama scheme. The government is also investigating irregularities in the Smart City project. The Jal Jeevan Mission has been temporarily halted due to implementation issues.Read more

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Navi Mumbai: PAPs awarded 46 plots by CIDCO in digital lottery system

In a bid to compensate those affected by the Navi Mumbai International Airport project, the City and Industrial Development Corporation (CIDCO) has allocated 46 plots to Project Affected Persons (PAPs) via a computerised draw. The plots, given under rehabilitation and resettlement and the 22.5% compensation schemes, reflect CIDCO’s commitment to fair processes and generous compensation. The development also includes substantial benefits like rental disbursements, one-time special assistance, and agricultural compensation.Read more

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Massive real estate fraud of INR 450 crore unveiled in Panipat

In a shocking revelation, a massive real estate scam amounting to INR 450 crore has been uncovered in Panipat. The illegal scheme reportedly involves Haryana Shehri Vikas Pradhikaran (HSVP) and local revenue officials. Joginder Swami, a local resident, blew the whistle on this enormous fraud, involving a 7,200 square feet commercial plot near the GT Road. Investigations are underway, and criminal proceedings against the implicated individuals are expected to follow. This incident underscores the urgency for heightened transparency and regulation within the real estate sector.Read more

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Indore releases final layout for 100 colonies, advances legalization efforts

Indore has achieved a major milestone in its efforts to legalize illegal colonies, with the publication of the final layout for 100 colonies. Led by Indore Collector Ilayaraja, the initiative aims to provide necessary infrastructure and amenities to these previously unauthorized settlements. The meeting chaired by the collector reviewed the progress and set targets for the next phase, including the development of additional colonies. The meeting also addressed the establishment of Sanjivani Clinics across the city and discussed challenges related to infrastructure development, encroachments, and road construction.Read more

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Proposal to legalize illegal colonies in Gurugram unveiled by district administration

Out of the total 60 eligible colonies, the district administration has forwarded a list comprising 11 colonies to the state government, while active efforts are currently underway to address the issues in the remaining 49 colonies. The administration has been diligently working to assess the status of these colonies and take necessary measures to regularize their status. By engaging in this ongoing process, they aim to grant legal recognition and provide essential services to these unauthorized settlements in Gurugram. The authorities remain committed to resolving the administrative and infrastructural challenges in these colonies.Read more

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Mohali Development Body all set to launch 550 flats in second phase of Purab Premium Apartments

The Greater Mohali Area Development Authority (GMADA) is set to launch the second phase of the Purab Premium Apartments project, offering 550 ready-to-move-in units. The apartments range from one to three bedrooms, with prices starting at Rs 54 lakh. Occupants will enjoy cross ventilation and natural light, along with amenities such as sports facilities and a swimming pool. Applications are open from June 30 to July 31, with possession granted upon payment of 25% of the total price. The project is conveniently located near the international airport, educational institutions, and healthcare facilities.Read more

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