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

Uncertainty looms over Pune's municipal town planning scheme following area demerger

PNT Reporter

The demerger of Uruli-Phursungi from the Pune Municipal Corporation (PMC) has cast uncertainty over the future of the city's town planning scheme. The newly formed municipal council, now responsible for these areas, may struggle to execute the project due to a lack of resources, expertise, and infrastructure. Experts urge other government bodies to step in and ensure the town planning scheme's continuation, which is vital for the rapidly developing areas covering 371 hectares of land.Read more

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Maharashtra's urban development department to evaluate five Pune town planning proposals

PNT Reporter

Maharashtra's urban development department is set to decide the future of five proposed town planning schemes in the Pune Metropolitan Region. The plans, spanning 751.55 hectares, will be established in Wadachiwadi, Autadewadi Handewadi, Manjari Kolwadi, and Holkarwadi, subject to state approval. The schemes, modeled on the successful Maan-Mhalunge town planning scheme, will ensure landowners regain 50% of developed plots, fostering a mutually beneficial development process. The projects are part of a larger vision for the 128-km PMRDA inner ring road.Read more

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Nashik Municipal Corporation plans extensive survey to legalize unauthorized settlements

PNT Reporter

The Nashik Municipal Corporation (NMC) is set to survey unauthorized city settlements, potentially leading to their legitimization. Prompted by the state government, the NMC will assess the feasibility of regularizing these slums, submitting their findings to aid in the state's decision. Of the 159 slums identified in a 2017-18 survey, 55 have been authorized, leaving 104 under consideration. This move could enhance living conditions for around 1.94 lakh residents, marking a significant stride towards urban planning and social inclusion.Read more

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Builders in Rajasthan not filing quarterly progress reports of their projects

PNT Reporter

Many realtors in Rajasthan are not complying with the mandatory requirement of filing online quarterly progress reports of their registered projects, according to the Rajasthan Real Estate Regulatory Authority (RERA). The QPR is designed to provide transparency and keep investors informed about the financial health of the developers. The lack of adherence to the rule is causing anxiety among buyers and has prompted calls for more stringent action from the RERA to safeguard buyers' rights and protect the integrity of the real estate market in Rajasthan.Read more

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Greater Noida: Eight housing plots on offer in new township

PNT Reporter

The Integrated Industrial Township Greater Noida Limited (IITGNL) has approved a residential and commercial scheme, including eight plots ranging from 17,400 to 56,300 sqm. The IITGNL board has also approved an increase in ground coverage on industrial plots from 35% to 55% to encourage more investors. The township is located near Dadri on 747 acres of land and is part of the Delhi-Mumbai Industrial Corridor, with a plug-and-play infrastructure and automatic solid waste management system. The scheme is expected to attract more investors and contribute to the growth of the township.Read more

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Mumbai: No work done, but BMC issues Rs 350 crore credit notes to builders

PNT Reporter

The Brihanmumbai Municipal Corporation (BMC) has issued credit notes worth about Rs 350 crore to contractors to build houses for project-affected people in Mulund, Bhandup, and Prabhadevi, instead of paying them directly. These credit notes can be used to pay municipal taxes or premium charges to the BMC in the future or sold to other contractors for money. While there is no provision for credit notes under the MRTP Act, the state urban development department permitted BMC to implement the credit notes policy citing an earlier MMRDA precedent.Read more

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Chennai development body issues notice to VR Mall's builder for deviations

PNT Reporter

The Chennai Metropolitan Development Authority (CMDA) has issued a showcause notice to the developer and owner of VR Mall for not following the approved plan for the building. Deviations include traffic congestion, unutilized entry gates, a temporary shed in the setback space, and the presence of unapproved swimming pools and sports courts. The CMDA has warned of lock and seal action if the building is not restored as per the approved plan. The notice highlights the importance of following safety and security regulations and adhering to the approved plan.Read more

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Do not insist on NOC for building redevelopment halted in 2009, says Bombay HC

PNT Reporter

The Bombay High Court has directed MHADA and BMC not to insist on a no-objection certificate from the previous developer for the redevelopment of a Girgaum building that had been stalled for over a decade. The decision is expected to expedite the redevelopment process and provide relief to the affected families. The court set timelines for granting permissions and directed the liquidator to remove equipment or machinery lying on the site. The decision highlights the need for a more efficient and effective redevelopment process that is sensitive to the needs of the affected families.Read more

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Bhubaneswar Development Authority set to unveil three premium housing projects by the year end

PNT Reporter

The Bhubaneswar Development Authority (BDA) announced that three premium housing projects are set to be completed by the end of 2023. Two projects are in Kalinga Nagar, with one offering commercial-residential spaces, and the other exclusively residential. The third project is situated in Subudhipur. These developments will cater to middle and high-income groups, with modern amenities such as parks, green spaces, and round-the-clock utilities. The BDA is also working on affordable housing projects for lower-income residents, reflecting its commitment to inclusive urban development.Read more

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Norms for rooftop solar panels in houses eased in Uttar Pradesh

PNT Reporter

The Uttar Pradesh housing department has allowed for the installation of solar panels on rooftops of residential, commercial, and institutional properties. The exemption of FAR calculation for solar panel installations up to 4.5 meters can increase the value of the property and create employment opportunities. This decision can promote renewable energy, reduce carbon emissions, and contribute to the state's economic growth.Read more

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