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

Drone survey to scan illegal construction and infrastructure flaws in Gurugram, Haryana

PNT Reporter

The Department of Town and Country Planning (DTCP) in Gurgaon has started a drone survey in sectors 1 to 80 to identify infrastructure deficiencies and unauthorised constructions in licensed colonies. The survey will also keep a check on any violation of norms and record stilt plus four floor buildings in these sectors. The data collected through this survey will be used to prepare an action plan and to identify issues related to infrastructure upgrade and encroachment on public spaces and government land.Read more

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Income-tax department to appeal against NCLT ruling in Jaypee Infratech case

PNT Reporter

Jaypee Infratech's creditors, including Jaiprakash Associates, the Income Tax department, and YEIDA, have filed an appeal against the award of the company to Suraksha Group by the NCLT. The appeal could delay the start of construction. The Income Tax department has claimed that only Rs 10 lakh have been provided towards its dues despite its claims, while Jaiprakash Associates has argued that the resolution plan proposed by Suraksha Group is not in conformity with certain provisions of the Insolvency & Bankruptcy Code.Read more

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Real estate promoters in Kolkata may lose their licence if found to be duping buyers

PNT Reporter

The Kolkata Municipal Corporation (KMC) has announced that it will revoke the trade licence of real estate promoters who dupe flat owners. Previously, the KMC only penalized architects or licensed building surveyors if they failed to provide facilities to flat owners. The KMC will keep a watchful eye on real estate promoters who have fled after constructing an apartment building without applying for a completion certificate. The decision is a step in the right direction to ensure that flat owners receive the necessary amenities and services promised to them and to hold real estate promoters accountable for their actions.Read more

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Jharkhand's urban development department takes steps to regularise illegal buildings

PNT Reporter

The state urban development and housing department in Jharkhand is discussing a scheme for the one-time regularisation of “illegal” buildings located in municipal corporation areas. The department had announced a draft of the scheme in November of the previous year, called the ‘Scheme for regularisation of unauthorised residential construction-2022’. The aim of this scheme is to regularise both residential and non-residential buildings that have been built without proper approvals or in deviation of approved building plans, against a one-time payment.Read more

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FPCE demands compensation for delays from the MahaRERA authority

PNT Reporter

The Forum for People’s Collective Efforts (FPCE), a nationwide organization representing homebuyers, has requested compensation from the Maharashtra Real Estate Regulatory Authority (MahaRERA) for homebuyers, while expressing concerns about real estate developers’ failure to comply with the statutory requirement of providing project updates every quarter. The FPCE has also urged MahaRERA to impose penalties on promoters of these projects for their non-compliance, citing Section 61 of the Real Estate (Regulation & Development) Act, 2016.Read more

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Nagpur civic body okays building plan before tree officer's nod

PNT Reporter

The Nagpur Municipal Corporation's town planning department approved a building plan for a structure on a site that allegedly cut down a large number of trees without permission from the Tree Officer, as required by section 19 of the Maharashtra (Urban Areas) Protection and Preservation of Trees Act, 1975. The landowner has submitted a revised building plan and was directed to obtain permission from the Tree Officer before it could be sanctioned. However, despite a complaint and notice from a former member of NMC's Tree Authority, the NMC garden department is yet to visit the site and initiate action.Read more

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CIDCO offers amnesty to defaulters of mass housing scheme under PMAY

PNT Reporter

CIDCO has introduced an amnesty scheme until April 30 for defaulters in its mass housing scheme, offering discounts on delayed payment charges. Applicants who have not paid all instalments have been given a last chance to clear their dues, with the amnesty scheme only applying to those who pay outstanding instalments in the allotted time.Read more

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CRZ dilution paves the way for the affluent in Mumbai to expand their seaside homes

PNT Reporter

The dilution of Coastal Regulation Zone (CRZ) in 2019 has allowed for more construction near Mumbai's coast, benefiting prominent personalities like Sachin Tendulkar, Jaya Bachchan, and Cyril Shroff. The Maharashtra Coastal Zone Management Authority has approved proposals to add extra floors to existing bungalows and expand luxury residential buildings. However, environmental activists have raised concerns about increasing the load on the coastline and not submitting to the spirit and purpose of the CRZ notification.Read more

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DDA sets December 2023 deadline for Delhi's Kathputli Colony

PNT Reporter

The Delhi Development Authority (DDA) has announced a new deadline of December this year for the completion of flats developed under its first in situ slum redevelopment project at Kathputli Colony. Officials have stated that the construction work in some towers is either completed or on the verge of completion. Once construction approvals are in place, a computerised draw of lots will be conducted after which the DDA will send a demand letter to the allottees asking them to submit Rs 1.25 lakh as a symbolic amount.Read more

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Gurugram civic body threatens to snap water connection in DLF colonies if used for construction

PNT Reporter

The Municipal Corporation of Gurugram (MCG) has directed the developer of DLF 1 to 5, a licensed colony, to use only recycled water for construction activities to reduce the disruption of drinking water supply to residents. The directive comes after complaints from residents that potable water is being used for construction activities at more than 250 sites in DLF colonies and other areas in the MCG limits, with underground water being extracted illegally. The MCG has set up 41 sewage treatment plants in the city, and recycled water can be taken from these locations or from plants set up by GMDA for construction uses.Read more

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