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

GDA shifts 76 supervisors after allegations of illegal construction links

The Ghaziabad Development Authority (GDA) has transferred 76 supervisors this past week in response to growing complaints of their involvement in unauthorised construction. Residents alleged that some supervisors were working with contractors and taking money to ignore violations, including approval of extra floors in buildings. Illegal colonies have steadily expanded in recent years, rising from 321 to 351 across nearly 3,000 acres. By moving staff who had been posted in the same zones for years, the authority aims to break existing networks and restore tighter oversight of construction activities.Read more

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Goa RERA bans vague ads, mandates full disclosure in realty promos

The Goa Real Estate Regulatory Authority (RERA) has recently issued a comprehensive circular targeting misleading and vague advertisements by real estate developers. This significant initiative aims to enhance consumer protection and instill greater transparency and accountability in the state's real estate market. The new guidelines prohibit the use of broad disclaimers like "terms and conditions apply" and mandate that all project promotions, including those on digital platforms and billboards, must prominently feature the project's official Goa RERA registration number and the authority's website. Developers are now also required to provide specific, verifiable details about amenities and are banned from using variable measures like travel time.Read more

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MahaRERA issues recovery warrants worth INR 90 crore against Palais Royale developer

MahaRERA has issued recovery warrants amounting to nearly INR 90 crore against Honest Shelters Pvt Ltd, the promoter of the long-delayed Palais Royale project in Mumbai. The action follows the developer's failure to comply with directives to hand over seven flats to IIFL Finance Ltd with an occupancy certificate and to pay interest for delayed possession. The orders, passed across multiple hearings, rejected the developer's objections on jurisdiction and firmly upheld IIFL's entitlement to interest until possession was formally transferred. The dispute stems from Honest Shelters taking over the stalled project in 2019 after a INR 705 crore auction by Indiabulls Housing Finance.Read more

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Mumbai SRA sets target of 5 lakh new homes for slum residents in 5 years

Mumbai's Slum Rehabilitation Authority (SRA) has set a target of building 500,000 new homes for slum dwellers in the next five years, aiming to double what it achieved in nearly three decades since 1996. The authority has already accelerated delivery with more than 16,000 homes completed in just 100 days and close to 17,000 in the past year. New measures such as drone surveys, biometric verification, and stronger laws against defaulting developers are driving this shift. By restarting stalled projects and enforcing overdue rent recovery, SRA is moving faster than ever before.Read more

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Telangana ramps up 'gruhapravesam' push for Indiramma homes ahead of panchayat polls

The Telangana government is holding housewarming ceremonies for Indiramma housing beneficiaries across constituencies ahead of the local body elections. With INR 22,500 crore allocated per constituency and around 3,500 homes sanctioned in each, the program represents one of the largest housing efforts in the state. For the first time, Chenchu tribal families have been included, with more than 22,000 homes sanctioned in four ITDA regions. Building on pilot-phase progress, where 47,000 homes were already underway with INR 68 crore support, the state is also providing engineering aid during the monsoon to keep construction on track.Read more

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CAG flags INR 13,362 crore loss from lapses and irregularities at Greater Noida Authority

The Comptroller and Auditor General (CAG) has reported a notional loss of INR 13,362 crore due to lapses and irregularities in the Greater Noida Industrial Development Authority's operations. Covering 2005-06 to April 2021, the audit revealed that GNIDA prioritized residential growth over its core mandate of industrial development, with residential land use exceeding plans while industrial use lagged. Irregularities in group housing allotments alone left INR 10,732 crore in pending dues, causing project delays and distress for homebuyers. The report also flagged misuse of land acquisition rules and weak enforcement against defaulters. GNIDA says it is revising policies and pursuing recovery measures.Read more

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Navi Mumbai becomes the first civic body in India to issue property identity cards

Navi Mumbai Municipal Corporation (NMMC) has introduced an innovative initiative by becoming the first civic body in India to provide property identity cards to citizens. The move, launched under the guidance of Municipal Commissioner Dr Kailas Shinde, aims to simplify property-related transactions and enhance transparency. Around 3.5 lakh property owners across the city will benefit, gaining access to property details such as ownership, tax records, and size in a single, card-based format equipped with QR code features for digital use.Read more

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NCLAT clears insolvency for Supertech Realtors' Supernova project in Noida

The National Company Law Appellate Tribunal (NCLAT) has cleared the way for insolvency proceedings against Supertech Realtors, the developer of the Supernova project, by upholding a previous NCLT order. The NCLAT dismissed an appeal by promoter Ram Kishore Arora, whose settlement proposal was rejected by a consortium of banks with over INR 990 crore in dues. This decision allows for the formation of a Committee of Creditors to take over the project, which is 80% complete, a significant step towards a resolution for thousands of homebuyers waiting for possession in Noida.Read more

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Lucknow Development Authority takes over incomplete township project

The state development body has stepped in to complete a stalled township project after ending a decades-old agreement with the original developer, who failed to deliver promised infrastructure and became insolvent. The township spans over 2,000 homes in nine blocks, along with educational, commercial, and recreational facilities. With the developer no longer active on site since about 2010-11, residents have waited years for basic services. The authority now plans to fund completion of roads, drainage, parks and a community centre using assets still held by the builder, once necessary approvals and assessments are in order.Read more

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MahaBhumi portal issues force housing societies back to offline mode

The state-launched digital portal for deemed conveyance-intended to modernise housing society document processes-encountered persistent technical failures that undermined its objective of dispensing with in-person visits. Users reported login issues and incomplete applications, prompting a return to deputy registrar offices. Authorities acknowledged the malfunction and are working to restore functionality. With over sixty per cent of housing societies still lacking legal land ownership, the system's limitations continue to hinder redevelopment and access to finance, prompting calls to simplify documentation requirements.Read more

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