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

High court seeks TIDCO housing details from government in Andhra Pradesh

PNT Reporter

The Andhra Pradesh High Court has directed the government and petitioners to submit complete details about houses constructed by the Andhra Pradesh Township and Infrastructure Development Corporation (APTIDCO) for economically weaker sections. The court has asked for details of beneficiaries and guidelines framed for selection before deciding on interim orders on petitions challenging the creation of the R5 zone by amending the capital city masterplan. The petitioners allege that the government is planning to allot house sites to landless poor from other areas without handing over the finished houses to beneficiaries.Read more

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MCG directs private developers of 8 colonies to pay for deficient infrastructure

PNT Reporter

Private developers of eight colonies in Gurugram have been instructed to deposit Rs 75.8 crore for deficient infrastructure costs to continue development, after the Municipal Corporation of Gurugram (MCG) took over the colonies last year. The developers have demanded a re-evaluation of the deficient infrastructure cost, and the MCG commissioner has sanctioned the creation of a committee to re-evaluate the estimates of deficient infrastructure. Meanwhile, the residents of Mayfield Gardens are suffering due to the delay in the matter by MCG.Read more

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MahaRERA Addresses regulatory violations by issuing notices to Chartered Accountants

PNT Reporter

MahaRERA has issued show-cause notices to chartered accountants and contacted the Institute of Chartered Accountants of India after discovering instances where the same chartered accountant acted as both project auditor and statutory auditor, violating MahaRERA regulations. Officials raised concerns about the intentions of promoters in such cases. MahaRERA has requested the Institute to conduct training sessions to ensure compliance with regulations and the Real Estate (Regulation and Development) Act. This move aims to promote transparency, accountability, and better adherence to guidelines within the real estate sector.Read more

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Bombay High Court allows additional floors in residential building despite protests

PNT Reporter

Despite protests from the housing society, the Bombay High Court approved the construction of nine additional floors by a developer in a 12-story building. The organization had contended that due to CRZ limits, the original project to build 38 levels had been reduced to 12 floors, and that additional construction would endanger the existing building. However, the developer relied on a VJTI report that authorized the extra floors. Until the petitioners file a substantive lawsuit, the developer will continue construction at their own risk, according to the division bench of justices Gautam Patel and Neela Gokhale.Read more

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Kolkata civic body proposes to levy penalty on owners who ignore to move to UAA system

PNT Reporter

The Kolkata Municipal Corporation is proposing to impose a penalty of up to 30% on property owners who refuse to switch to the Unit Area Assessment (UAA) system, which has been mandatory since April 2017. The KMC is sending notices to property owners to encourage them to switch to the UAA system and streamline the process. The UAA system calculates property tax based on the unit area value of a property and is intended to be more accurate and transparent than the previous system.Read more

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Four lakh owners in Bengaluru issued unique property ownership records cards

PNT Reporter

The Urban Property Ownership Records (UPOR) project in Bengaluru has provided over four lakh property owners with digitized and georeferenced property cards that contain a unique land property identification number. The project aims to issue such cards for all 25 lakh properties in the Bruhat Bengaluru Mahanagara Palike (BBMP) limits. The UPOR project is being implemented by staff at Survey Settlement and Land Records (SSLR).Read more

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VMRDA's upcoming land auction in Vizag: A litmus test for the real estate market

The Visakhapatnam Metropolitan Region Development Authority (VMRDA) is offering a 10% discount on the price of seven bulk land parcels that failed to sell at auction in September 2022. The auction is set to take place on May 11, and the deadline for applications is May 9. Buyers will have to bid above the upset price per square yard, and all the money involved in the transaction must be shown in white. The auction may affect private real estate ventures in the area and is expected to receive good interest.Read more

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Goa: Draft town & country planning rules permit farmhouses on agriculture land

PNT Reporter

Goa's TCP department has proposed new construction norms for green zones, which permit the construction of sports complexes, religious structures, yoga centres, and farmhouses. The draft regulations aim to balance development with environmental concerns and have a 30-day window open for stakeholders to voice their objections. The proposed changes include minimum land size requirements, height restrictions, and maximum built-up areas for each type of construction. The TCP department has also suggested allowing the "common use" of open spaces and regularizing unauthorized structures.Read more

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New township policy in Uttar Pradesh to focus on planned development

PNT Reporter

The state government of Uttar Pradesh is set to introduce a new township policy to tackle housing and urbanisation issues. The policy aims to promote affordable housing through private investment and create an investment-friendly environment for private developers by offering incentives and exemptions. The government will develop affordable housing with the assistance of private players to maintain balance in the regional disparity in urbanisation. The minimum size of land for development will be 12.5 acres in towns with a population of fewer than 2.5 lakh and 25 acres in bigger towns.Read more

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Current building by laws not conducive to growth of trees in Ahmedabad

PNT Reporter

The civic body in Ahmedabad has cleared construction plans for thousands of residential and commercial buildings, but urban planners say tall buildings with multi-level basement parking are hindering tree growth. Despite leaving margin spaces around the buildings for trees, the small margin of 3m in the basement is not enough for trees to grow roots. Green roofs and walls, and permeable pavements are possible solutions to increase space for plants to grow while also improving air quality and reducing the urban heat island effect.Read more

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