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

The consumer court orders Infra Estate Builders to reimburse homebuyers Rs. 15.6 lakh

PNT Reporter

The Nagpur District Consumer Disputes Redressal Commission directed Sunil Fating, the builder of Infra Estate Builders and Land Developers, to refund Rs 15.6 lakh to two senior citizens, Ashok Ingole and Seem Thakre, who had purchased plots from him in November 2014. The plots were supposed to be registered in their names by January 2016, but the builder cancelled the deal due to a dispute with the original landowner. The commission also slapped a fine of Rs 50,000 on Fating for physical and mental harassment and directed him to pay 720,000 towards litigation charges to the complainants.Read more

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Navi Mumbai builder to refund homebuyer with 12% interest & pay Rs 2 lakhs

PNT Reporter

The Thane Additional District Consumer Dispute Redressal Commission has ruled in favour of a Navi Mumbai resident who filed a complaint against Prathamesh Construction for the delay in the possession of a flat. The commission has directed the builder to refund Rs 48 lakh to the home buyer along with an interest rate of 12% on the sum, including stamp duty and registration charges. The commission has also ordered the builder to pay compensation of Rs 2 lakh for deficiency in service and unfair trade practices.Read more

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Uttar Pradesh RERA got 48,500 complaints in five years, 60% from Noida

PNT Reporter

The Uttar Pradesh Real Estate Regulatory Authority (UPRERA) has reported that it received over 48,500 complaints in the last five years, with nearly 60 percent of them coming from Gautam Buddh Nagar and 17 percent from Lucknow. The regulator was able to resolve 88.61 percent of the complaints received, totalling 42,980. Gautam Buddh Nagar, which includes Noida and Greater Noida, had the most complaints at 28,859, followed by Lucknow with 8,654, and Ghaziabad with 6,500 complaints.Read more

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Single window system for property registration begins in Lucknow

PNT Reporter

Individuals purchasing properties from the Lucknow Development Authority can now apply for registration via a single window system. As of Thursday, the LDA opened two counters (seven and nine) on the ground floor of their headquarters where applicants can submit their documents between 10:00am and 2:00pm.Read more

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Panchkula court fines HSVP for selling 'disputed' plot

PNT Reporter

A Panchkula court has fined the Haryana Shehri Vikas Pradhikaran (HSVP) for withholding allotment of a plot and has directed the body to pay the allottee a fine of Rs 25,000 as compensation for causing mental harassment. The allottee has alleged that she had been allotted a residential plot in Sector-57, Gurugram, but had later discovered that it was under litigation and not available for possession. In spite for making the full payment, she has been waiting for fourteen years for her allotment. The HSVP tried to refund her money and offer her an inferior plot, but she refused to take either alternative.Read more

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Andhra Pradesh government to dole out housing plots for 48,000 poor people in Amaravati

PNT Reporter

The Andhra Pradesh Capital Region Development Authority (CRDA) has announced that it will be distributing housing plots to over 48,000 economically weaker individuals from the Krishna and Guntur districts. These plots, which span over six villages and 1,135 acres, will be allocated to those who do not currently own a home in the areas of Mandadam, Inavolu, Krishnayapalem, Navuluru, Kuragallu and Nidamanuru. This initiative is part of the government's broader mission to address poverty and provide adequate housing for those in need.Read more

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Rajasthan RERA fines builder for changing sale deed

PNT Reporter

In a significant ruling, the Rajasthan Real Estate Regulatory Authority (RERA) has issued an order stating that a builder cannot make any alterations to the draft agreement for selling flats as prescribed under RERA Rules. Additionally, the allottee, or buyer, is not required to wait for the resale of a cancelled flat booking to receive a refund from the promoter. The decision was made after a complaint was filed by a buyer against a builder for withholding a booking deposit because the cancelled unit had not yet been sold to another buyer.Read more

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Nashik civic chief instructs officials to ensure inclusion of all NMC properties in land records

PNT Reporter

The Municipal Commissioner of Nashik has instructed all six divisional offices of the Nashik Municipal Corporation (NMC) to check if the properties owned by the civic body are included in the 7/12 extract papers. If any civic property is not included in the land records, it is to be included immediately. This move was made in response to a question raised by BJP MLA from Nashik East Rahul Dikhle during the recent budget session of the assembly. The MLA claimed that many of the civic body’s properties in newly developed areas like Makmalabad, Adgaon, Mhasul etc., have not been included in the land records.Read more

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Enforcement Directorate seizes two plots in Goa belonging to HDIL promoters

PNT Reporter

Earlier last week, the Enforcement Directorate (ED) reported that it had seized two properties in Goa belonging to Rakesh Wadhawan and Sarang Wadhawan, who are HDIL promoters. The properties are valued at over Rs 31 crore and have been linked to an investigation into money laundering that is connected to alleged irregularities in the redevelopment of Patra ‘chawl’ in Mumbai.Read more

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MahaRERA issues notices to 261 projects with slow progress

PNT Reporter

The Maharashtra Real Estate Regulatory Authority (MahaRERA) has recently taken action by issuing show-cause notices to 261 real estate projects across the state. The projects in question have less than 40% of their work completed but have promised possession of their flats by December 2023. The notices were issued solely on the basis of information submitted to MahaRERA by the developers themselves. The projects are spread across different regions in Maharashtra, including 26 in Mumbai city, 94 in Mumbai suburbs, 43 in Thane, 15 in Raigad, six in Palghar, and 67 in Pune.Read more

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