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

Ludhiana properties set for smart UID tags after two-year wait

PNT Reporter

The Ludhiana municipal corporation is set to install unique identity number (UID) plates with QR codes on properties across the city, following a two-year delay. The UID tags will allow officials to quickly verify property details, ownership, and tax payment status by scanning the QR codes. The project, funded under the Smart City Mission, aims to improve administrative efficiency, transparency, and accountability in property transactions, ultimately benefiting property owners, potential buyers, tenants, and municipal authorities.Read more

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DDA expands land pooling consortiums to boost urban development

PNT Reporter

The Delhi Development Authority (DDA) is set to issue conditional notices to landowners in four additional sectors, which have now met the eligibility criteria for forming consortiums under the land pooling policy (LPP). These sectors include 7A, 7B, and 7C in Zone P-II and Sector 11 in Zone N. The move aims to promote planned urban growth and infrastructure development, as consortiums of landowners will take the lead in planning and engaging developers for residential and commercial properties. The DDA will primarily sanction layout plans and provide support throughout the process.Read more

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State-run banks to launch app for e-auctioning 500,000 properties over five years

PNT Reporter

State-run banks in India plan to launch an e-auction app to dispose of around 500,000 properties over the next five years. The app will serve as a repository for information, data, and documents, streamlining the auction process for bidders and financial institutions. The initiative aims to increase transparency and improve efficiency in property auctions across the country. This comprehensive platform will help state-run banks manage their property auctions more effectively, promoting collaboration and supporting the growth of the Indian banking sector.Read more

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Haryana authorities issue warnings to 13 architects for improper Occupation Certificate approvals

PNT Reporter

The Department of Town and Country Planning (DTCP) in Haryana has issued show cause notices to 13 architects for granting occupation certificates (OCs) to 20 buildings, violating the Haryana Building Code of 2017. The architects have three days to provide satisfactory explanations, or they may face blacklisting and legal action. The self-certification scheme, introduced last year to expedite the OC process, has raised concerns about oversight and potential exploitation by unscrupulous builders. The DTCP is considering stricter oversight measures and ongoing education to ensure safe and compliant construction practices across the region.Read more

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Gurugram authorities demolish illegal colony for violating building norms

PNT Reporter

Gurugram's Department of Town and Country Planning (DTCP) and the police demolished a warehouse, a concrete plant, and a transport office in an unauthorized colony earlier this week. The structures, spread over five acres, were built without necessary permissions and violated building norms. Authorities urged residents not to invest in such illegal colonies and to consult the District Town Planner's office before buying land or plots. The demolition serves as a reminder of the importance of adhering to building regulations and investing in legal properties to ensure residents' safety and well-planned urban development.Read more

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ED charges Mumbai builder in prolonged PMLA case involving fraudulent slum rehabilitation

PNT Reporter

The Enforcement Directorate (ED) filed a chargesheet against builder Shailesh Sawla and his companies, Kunal Construction and Sawla Construction, for selling flats meant for slum dwellers to influential individuals. The case, one of the oldest pending money laundering cases since the Prevention of Money Laundering Act (PMLA) came into force in 2005, involved collusion with BMC and SRA officials to construct larger flats for wealthy buyers. Authorities have pledged to strengthen oversight and improve transparency in the slum rehabilitation process in response to the chargesheet.Read more

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Samiah Builders promoters apprehended after selling the same plot of land to multiple people

PNT Reporter

An arrest warrant for the promoters of Samiah Builders was issued earlier this week, after being accused of registering and selling the same plot of land to multiple individuals. The director Sagir Khan has been taken into custody, while the owner Zameel Ahmed Khan is said to be absconding. The company is said to have used intimidation tactics to silence victims who demanded possession of the plot. The police have issued a stern warning against such fraudulent builders and announced a reward for the team that can nab them.Read more

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Residents of Adani Oyster Grande in Gurugram protest over maintenance costs

PNT Reporter

Earlier this week, residents of Adani Oyster Grande in Sector 102, Gurugram took to the streets to protest the builder’s apathy towards maintenance of their residential complex. They allege that despite collecting a hefty fee from them, the builder is no maintaining common areas such as roads and parks properly. Even the sewage treatment plant is not working correctly. They are demanding that the builder hand over the maintenance corpus to the RWA. An official spokesperson of the builder has denied all allegations, claiming that the residents and RWA have not even lodged an official complaint about the same.Read more

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District Magistrate dismisses NAREDCO-UP’s requests for relief from forceful measures to recover dues

PNT Reporter

Earlier this month, a group of real estate representatives from NAREDCO-UP met with the district magistrate of Gautam Buddh Nagar to request relief from the authorities regarding their outstanding payments. The NAREDCO-Up cited various issues such as compensation owed to farmers, obstacles and legal disputes related to land ownership that contributed to the outstanding payments. However, sources say the District Magistrate declined their request for mediation, instructing the builders to take their concerns to the appropriate authorities instead.Read more

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Municipal Corporation of Delhi begins building survey as part of “Pre-Monsoon Measures”

PNT Reporter

Last week, the Municipal Corporation of Delhi began a process to locate buildings in the city that are considered unsafe. The purpose is to either demolish or repair these structures before the monsoon season to avoid any accidents. The civic authority has instructed its field staff to begin their annual survey of buildings and houses in their respective areas. The survey is expected to be completed by June 30.Read more

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