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

Allahabad High Court grants full zero-period waiver to Empire E-Parks after 18-year land delay

The Allahabad High Court has ruled in favour of Empire-E-Parks by ordering a complete waiver of interest, penalties, and other charges for the period during which the developer could not take possession of the allotted plot due to delays caused by the Greater Noida Authority. Despite paying over INR 17.6 crore towards premiums, lease rent, and stamp duty, the company faced encroachments and lack of infrastructure for years. The court held that once the state admits delay on its part, it cannot limit the zero-period benefit. This decision aligns with earlier rulings and is likely to influence several similar disputes across Noida and Greater Noida.Read more

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NGT orders fresh report from Noida authorities on illegal constructions amid environmental violations

The National Green Tribunal recently pushed back on Noida and Greater Noida authorities for failing to produce a current, detailed account of unauthorised building activity in the region. It demanded, within three weeks, a new affidavit identifying specific builders, projects and sites citing developments like Pristine Greens, Krishna Elite Homes, Trinity High Street and others built on agricultural or non-designated land without environmental clearance. Earlier submissions were dismissed as outdated and vague. Violations span dozens of villages and include misuse of services to legitimize illegal development. A comprehensive committee may be appointed to evaluate the situation at the tribunal's direction.Read more

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MMRDA settles INR 560 crore with MMOPL in Metro Line 1 arbitration battle

The Mumbai Metropolitan Region Development Authority (MMRDA) has deposited INR 560.21 crore with the Bombay High Court registry. This payment is part of an arbitration settlement in favor of Mumbai Metro One Private Limited (MMOPL), a joint venture involving Anil Ambani's Reliance Infrastructure. The deposit follows a Supreme Court directive that allowed MMRDA to pay 50% of the total INR 1,169 crore award, while the dispute continues. The case stems from cost escalations of the Versova-Andheri-Ghatkopar metro line, highlighting ongoing challenges in large infrastructure public-private partnerships.Read more

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Gujarat High Court resumes contempt case against Pacifica Developers

The Gujarat High Court has reopened contempt proceedings against Pacifica Developers and its top executives after lifting a stay on a 60-day civil prison order issued by GujRERA. The case involves non-delivery of a booked flat and its alleged resale to another party. Despite initially promising a settlement and depositing INR 24 lakh, the developer failed to file the required appeal. The court viewed this as an abuse of process and ordered the release of the deposit to the homebuyer, while sending the contempt matter to a division bench for further action.Read more

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PNB Housing Finance penalised INR 10 lakh for losing borrower's original property documents

A consumer forum in Coimbatore ordered PNB Housing Finance to compensate a borrower family with INR 10 lakh and litigation costs after their original title deeds went missing post-loan repayment. The ruling also mandated document reconstruction via certified copies and cancellation of related deposit warrants. This action comes as part of a broader regulatory push that obliges lenders to return property papers within 30 days or face penalties of INR 5,000 per day. Historic rulings against banks like PNB affiliate UBI and ICICI underscore the growing scrutiny over handling of original property documents and deficiency in service.Read more

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NMMC acts against illegal structures in Phanspada and Shahbaz Village, Belapur

The Navi Mumbai Municipal Corporation (NMMC) carried out a demolition drive in Belapur under the supervision of Municipal Commissioner Dr Kailas Shinde and other senior officials. Despite prior notices issued under MRTP Act Section 54, the concerned individuals failed to remove their unauthorised constructions. The encroachment department proceeded with removal operations involving municipal staff, police personnel, and demolition tools including hammers and gas cutters. The civic body has warned that further intensified actions will follow against unauthorised developments in the city.Read more

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Bombay High Court upholds BMC's revised solid waste tender conditions

The Bombay High Court recently ruled in favor of the Brihanmumbai Municipal Corporation (BMC), dismissing two petitions that challenged modified tender conditions for solid waste collection and transportation. Petitioners had sought a fresh tender with older criteria, arguing that the new seven-year experience requirement was impossible for Mumbai contractors to meet. The court, however, affirmed that the civic body is best placed to define its tender requirements and that the court cannot overrule its judgment. This decision allows BMC to proceed with its waste management tender, ensuring essential services continue without interruption.Read more

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Bombay High Court orders demolition of illegal six-storey building in Kalyan

The Bombay High Court today directed the Kalyan-Dombivli Municipal Corporation (KDMC) to demolish a ground-plus-six-storey illegal building in Govindwadi, Ayare village, Kalyan, within two months. This order follows a complaint filed by a local resident last year, stating that the building, named Siyam Villa, was constructed without any planning permissions. The court emphasized that such unauthorized constructions cannot be regularized and must be demolished. This ruling highlights the court's firm stance against illegal building activities and its expectation that civic bodies enforce demolition notices swiftly, ensuring adherence to urban planning laws.Read more

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Vadodara civic authorities take action against unauthorised waste dumping in water bodies

The Vadodara Municipal Corporation (VMC) has initiated strict action against individuals and contractors involved in the illegal dumping of construction debris into the city's water bodies. Responding to complaints from residents and environmental activists, the civic body has started issuing notices and warnings to violators. Measures include penalties and direct inspections by senior officials to prevent further environmental damage. The move aims to restore the ecological balance of affected lakes and ponds while holding accountable those contributing to their degradation.Read more

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Bhubaneswar Development Authority launches digital ID system for property services

The Bhubaneswar Development Authority has directed allottees of its residential properties to obtain a Unique Account Number (UAN) by the end of August to continue availing services such as lease deeds, NOCs, property transfers, and conversion from leasehold to freehold. A dedicated facilitation cell at the authority's headquarters has been activated to assist applicants. The authority has also recorded progress in its ongoing property conversion programme, approving over 740 conveyance deeds across 27 housing schemes. Allottees must meet specific eligibility conditions, including construction status and legal compliance.Read more

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