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

Shine Buildcon told to pay 11.1% interest for delayed possession in Gurugram project

Haryana RERA has ruled against Shine Buildcon for a four-year delay in handing over a commercial unit at '70 Grandwalk' Sector 70, booked in 2014. Possession, due by mid-2019, was only offered in late 2023. The developer's defence citing demonetisation, GST, and COVID-19 was rejected as insufficient. RERA ordered Shine Buildcon to pay 11.1% annual interest on the buyer's payments, from the due possession date to actual offer or two months post-occupation certificate-whichever is earlier. The amount must be settled within 90 days, and possession delivered within 30 days thereafter. The builder is barred from imposing extra charges beyond the original agreement.Read more

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UP clears GIS-based master plans for 56 AMRUT cities; Kanpur, Ghaziabad next

The Uttar Pradesh government has approved GIS-based master plans for 56 of 59 AMRUT cities, with Kanpur, Ghaziabad, and Rampur nearing final clearance. These digitised plans use geo-referenced maps and layered data to guide urban development, including transit zones, green corridors, and mobility networks. Originally set for completion last year, the scope expanded to include more detailed planning elements, extending timelines. Approval is crucial for cities to access AMRUT scheme funding. Once finalised, these plans will enable better land-use monitoring, improve infrastructure planning, and ensure more transparent governance. This marks a significant step toward smart, integrated urban development across the state.Read more

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DTCP demolishes illegal meeting hall built by RWA at Emaar Palm Hills, Gurugram

The Department of Town and Country Planning (DTCP), Gurugram, recently demolished an unauthorized structure constructed by the Resident Welfare Association (RWA) of Emaar Palm Hills in Sector 77. The RWA had built a meeting hall in the society's open area, which violated the approved layout plan. Despite earlier notices, the association failed to act, leading to the enforcement. DTCP clarified that RWAs are not permitted to carry out construction in common or green areas, regardless of internal resolutions. The demolition received support from residents and planning experts.Read more

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Ansal Properties booked again after basement cave-in at Ghaziabad project

The Ghaziabad Development Authority (GDA) has filed a new FIR against Ansal Properties after a severe basement cave-in incident at Sushant Aquapolis township near Crossings Republik. Heavy rainfall led to water collecting in an unfenced 15-foot-deep pit, submerging vehicles parked near Tower 7. The builder had reportedly handed over possession without securing a completion certificate and failed to install key infrastructure. This comes as the latest in a string of FIRs against the company over project delays, forgery, cheating, and regulatory violations across Ghaziabad and Lucknow.Read more

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BBMP fines builder, suspends officials over illegal ramp blocking footpath in Basavanagudi

BBMP has imposed a fine of INR 1 lakh on a property owner in Basavanagudi for building a ramp that fully blocked the footpath, forcing pedestrians onto the road. The ramp was part of an under-construction building on MN Krishna Rao Road. Following an inspection, three BBMP officials from the Mahalakshmipuram sub-division were suspended for failing to act on earlier complaints related to the obstruction. This action comes as part of BBMP's ongoing efforts to prevent encroachment and ensure public pathways remain accessible and safe.Read more

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Haryana RERA directs Neo Developers to refund buyer with interest over restaurant unit dispute

The Haryana Real Estate Regulatory Authority (HRERA) has directed Neo Developers to refund INR 42.5 lakh to Atombridge Networks along with 11% annual interest. The dispute arose over the booking of a restaurant unit in the Neo Square commercial project at Sector 109, Gurugram. Although the builder cancelled the unit due to payment delays, HRERA found that no builder-buyer agreement was signed. While the cancellation was upheld, the authority stated the builder must return the amount after deducting 10% as earnest money, citing procedural lapses.Read more

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CAG finds major lapses in Delhi BOCW Board: fake data, poor fund use, cess mismatch

A recent audit report by the Comptroller and Auditor General (CAG) has exposed major irregularities in the registration and welfare disbursement for construction workers in Delhi during the previous government's tenure. Despite a welfare corpus exceeding INR 3,500 crore accumulated between 2019 and 2023, the spending on actual welfare schemes remained alarmingly low. The report also uncovered issues such as incomplete and duplicate worker data, suspected ghost registrations, and discrepancies in cess collection records.Read more

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MahaRERA resumes hybrid hearings after HC directive, restores in-person access

Following a Bombay High Court directive, MahaRERA has reinstated hybrid hearings, allowing litigants to choose between physical and virtual appearances. The court found the earlier virtual-only format hindered access to justice and noted that other tribunals had already adopted hybrid models. Complaints cited unclear schedules, delays, and no mechanism for urgent matters. The court instructed MahaRERA to revise its procedures, including creating a register for urgent mentions, publishing timestamped orders, setting fixed hearing dates, and providing transparent cause-lists and contact details. MahaRERA has confirmed that both hearing modes are now active and is expected to submit a compliance report soon.Read more

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Allahabad HC halts GDA demolitions, seeks rehab plan for Ghaziabad's EWS residents

The Allahabad High Court has ordered the Ghaziabad Development Authority and local officials to halt demolitions of unauthorised homes, offering interim relief to residents facing eviction. The directive follows a petition by Naresh Kumar and 18 others, who've lived on the land for over 40 years. The court emphasised the need for a rehabilitation plan, noting the petitioners belong to economically weaker sections. Authorities must now submit a detailed resettlement proposal before the next hearing. Demolition notices had been issued to 172 occupants, sparking legal challenges. The court also barred structural changes and third-party claims until further orders are issued.Read more

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Ansal Housing, ex-officials booked for illegal land use in protected Aravali region

The Anti-Corruption Bureau has filed a case against Ansal Housing, group firms, and former Haryana revenue officials for allegedly tampering with land records in the protected Aravali region near Sohna, Gurgaon. The FIR claims non-developable hill land was illegally reclassified in the 1990s, allowing the 1,200-acre Ansal Aravali Retreat farmhouse project to proceed. Triggered by a decade-old complaint, the investigation cites fraud, conspiracy, and forgery, highlighting collusion between officials and developers. Courts have since restored the land's protected status. The action underscores the lasting weight of environmental safeguards and the need for stricter oversight in ecologically sensitive real estate developments.Read more

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