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%

Top Stories

Buyers at Renuka Aashiyara protest against the delay in the delivery of flats

PNT Reporter

Homebuyers at Renuka Aashiyara in Gurugram are protesting against the developer for the delay in the delivery of flats. The project was launched in 2018 and was supposed to be completed by January 2023, but only 63% of the work has been completed so far, leaving the buyers frustrated. They have already paid 100% of the amount and are facing financial burdens due to the EMI and rents. The buyers also alleged substandard quality and non-adherence to the approved layouts and specifications by the developer.Read more

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Residents appeal for reconstruction of Building Design Committee in Panchkula

PNT Reporter

Panchkula residents, led by the Citizens Welfare Association (CWA), are calling for a reconstitution of the local building design committee. They claim the current committee is biased towards builders and their favoured "stilt plus four floor" design. Given Panchkula's location in an earthquake-prone zone, the CWA emphasizes the need for public safety and is seeking greater representation in committee decisions. The group has presented objections from over 5,000 residents and is urging authorities to prioritize residents' safety over builder preferences.Read more

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Unauthorized construction on reserved garden plot sparks outrage in Kalyan

PNT Reporter

In Dombivli, an illegal eight-story building is nearing completion on land reserved for a garden. Local architect and activist, Sandeep Patil, brought this to the attention of the Kalyan-Dombivli Municipal Corporation (KDMC). Patil, known for uncovering a previous construction scam, urged the KDMC to act swiftly. He alleges that despite local officials being aware of the illegal construction, no action was taken due to influential individuals' involvement. However, KDMC Commissioner Dr. Bhausabeb Dangade has assured that the building will be demolished, with Thane police's assistance if necessary.Read more

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Madurai gears up for a construction waste processing plant

PNT Reporter

Madurai Corporation will invest Rs. 6 crores in a new plant to process construction and demolition waste, a significant step towards sustainable waste management. The plant, to be set up at Vellaikal, will process 100 tonnes of waste daily. In addition, four debris collection centres will be established citywide. The project, designed to operate under a public-private partnership, aims to curb construction waste dumping, improve the urban environment, and generate revenue for the corporation. Construction will commence following the submission of a detailed project report by the contractor.Read more

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Indore Municipal Corporation demolishes unauthorized 65,000 Sq Ft commercial structure

PNT Reporter

The Indore Municipal Corporation (IMC) has demolished a 65,000 square foot commercial structure constructed without the necessary approvals. The owner, previously issued a notice to provide required documentation, failed to comply, prompting the IMC to take action. The cost of the demolition operation will be recovered from the owner. As part of an ongoing initiative, the IMC Commissioner has also instructed officials to identify and issue notices for the removal of dilapidated structures within a week, ensuring the city's infrastructure remains safe and compliant.Read more

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Bhopal civic body team inspect 'housing for all' project in Neelbad

PNT Reporter

BMC commissioner, K V S Choudary, has instructed plot holders of the Neelbad Kalkheda residential project to obtain building permission before commencing construction during an inspection of the 'housing for all' project. He also directed that no new encroachments or constructions should be carried out on the vacant land. The project provides affordable housing to people from the LIG and EWS categories under the Pradhan Mantri Awas Yojana, with basic facilities being developed, including road, water, and electricity. The successful completion of these projects will help achieve the Indian government's goal of providing affordable housing to all.Read more

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Pune clamps down on fire safety violations with fines and imprisonment

PNT Reporter

Pune's civic body has launched a stringent campaign to enforce fire safety norms, targeting housing societies and commercial properties failing to comply. Non-compliant property owners and tenants risk a Rs 50,000 fine or six-month jail term. The Pune Municipal Corporation (PMC) requires a certificate from licensed auditors, affirming the adequacy of fire safety systems. The Maharashtra Fire Prevention and Life Safety Measure Act of 2006 mandates biannual certificates and encourages fire safety education for residents. This initiative seeks to improve safety standards in Pune and emphasize fire safety as a legal obligation for all stakeholders.Read more

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Mizoram distributes property cards to rural beneficiaries under central SVAMITVA scheme

PNT Reporter

Under the central SVAMITVA scheme, Mizoram's Minister of Land Revenue and Settlement, Lalruatkima, distributed property cards to 420 rural beneficiaries in Tachhip and Phulpui villages. The initiative aims to grant legal ownership of residential lands to rural dwellers, enabling them to use their properties as financial assets for loans and other benefits. This initiative, launched by Prime Minister Narendra Modi in April 2021, plans to cover 319 villages in Mizoram, with drone mapping currently in progress. The scheme demonstrates the government's commitment to improving rural land ownership rights and providing better economic opportunities.Read more

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Kolkata's revolutionary Rajarhat plant transforms construction waste into road-building material

PNT Reporter

A pioneering construction and demolition waste recovery plant has begun operations in Rajarhat, Kolkata. The facility, a significant stride towards sustainable waste management, will transform non-biodegradable construction waste into reusable "aggregates" for road paving. Instead of landfill disposal, waste from smaller housing projects will be transported to the Rajarhat plant. The initiative, which could serve as a model for other cities facing waste management challenges, underscores the shift towards a circular economy, where waste is seen as a valuable resource to be reused and recycled.Read more

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Mall operators anticipate 7-9% revenue surge in FY24, bolstered by high occupancy and leasing rates

PNT Reporter

Indian mall operators are projected to experience a 7-9% revenue increase in the current fiscal year, as revealed by a recent Crisil analysis. High occupancy and leasing rates, coupled with cost-saving measures implemented during the pandemic, are driving this growth. Strong retail sales, a diversified tenant mix, and continued investor interest in the sector contribute to the positive outlook. As consumer confidence returns and the economy recovers, mall operators are expected to capitalize on new opportunities and trends in the evolving retail landscape.Read more

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