SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

Top Stories

Hyderabad's Real Estate Under Siege: The unfolding crisis of unlawful townships

PNT Reporter

30 May 2023

Hyderabad's real estate sector is grappling with a mounting crisis of illegal constructions, revealed by a GHMC survey stating 7,000 to 8,000 unauthorized structures sprout annually. The city, still reeling from last month's demolition of 200 illegal homes in Bandlaguda's Crystal Township, faces the looming spectre of similar incidents. Homebuyers express shock and frustration, while experts advise due diligence. Amid an influx of 300 to 400 monthly complaints, GHMC's town planning department struggles with severe understaffing. This surge in illicit townships calls for a more rigorous regulatory framework and vigilant purchasing decisions by prospective homeowners.Read more

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Builders delay execution of over 1,000 property registries despite Noida Authority approval

PNT Reporter

30 May 2023

The Noida Authority has identified 1,097 registries in 21 residential projects awaiting execution, stalled due to builders' inaction. The properties, scattered across nine sectors in Noida, are approved for registry, yet developers lag in delivering to homebuyers. The Authority warned of potential penalties if developers continue to delay. It encouraged buyers to directly contact builders, ensuring the execution of their home registries. Developers who fail to comply risk punitive action in line with land allotment rules and the Real Estate Regulatory Authority (RERA).Read more

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Nagpur rainwater harvesting makes a significant leap, yet only 0.18% of buildings comply

PNT Reporter

30 May 2023

Despite a five-fold surge in rainwater harvesting installations over the past year, only 1,123 buildings in Nagpur have complied with the 14-year-old mandate. This equates to just 0.18% of all structures, according to the Nagpur Municipal Corporation (NMC). Critics attribute this sluggish progress to poor enforcement by the town planning department. Former Water Works Committee Chairman Vijay Zalke urges for a more earnest approach towards such critical ecological practices, emphasizing the significant potential of rainwater harvesting for groundwater replenishment.Read more

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BJP Government approves regularization of unauthorized colonies in Madhya Pradesh

PNT Reporter

30 May 2023

The BJP government in Madhya Pradesh has announced the regularization of all unauthorized colonies constructed up to December 31, 2022. This landmark decision, made before the upcoming Assembly elections, will alleviate development costs for residents and open access to necessary utilities, bank loans, and MP/MLA Local Area Development funds. Urban administration officials are warned to prevent the development of illegal colonies beyond the stated deadline. The process is expected to conclude by June 30, 2023.Read more

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Urgent evacuation ordered for over 500 hazardous buildings in Navi Mumbai

PNT Reporter

30 May 2023

In a significant move towards public safety, the Navi Mumbai Municipal Corporation (NMMC) has ordered the immediate evacuation of 524 hazardous buildings within the city. These buildings, identified after a comprehensive survey, fall under various categories of disrepair. Sixty-one are deemed highly dangerous and need instant demolition, while others require varying levels of structural repair. The NMMC has urged residents to vacate these premises promptly to prevent potential accidents and loss of life.Read more

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New Delhi Municipal Corporation reports significant drop in construction waste collection

PNT Reporter

29 May 2023

Documents from the New Delhi Municipal Corporation (NDMC) reveal that the collection of construction and demolition waste in New Delhi experienced a decrease of more than 27% in the previous financial year. The NDMC collected 19,819.87 metric tons of waste in 2022-23, compared to 27,272.76 metric tons in the previous year. The decline is attributed to a reduced number of construction activities in the area. The NDMC relies on a private firm for waste disposal and has designated 15 specific sites for dumping the waste to ensure proper disposal and maintain a clean environment.Read more

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Homebuyers in Noida persist in protests amid scorching heat and bureaucratic inaction

PNT Reporter

29 May 2023

Over 50 homebuyers have braved scorching temperatures to stage their 25th week of protests in Greater Noida West, demanding resolution for long-pending home registries. NEFOWA's president, Abhishek Kumar, expresses disappointment at the government's inaction despite repeated assurances. The protests continue to gain momentum as more residents join from various societies, and with over 60,000 homebuyers still awaiting their registries, the situation is growing more urgent. The homebuyers remain resolute, vowing to persist until their demands are met.Read more

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Ahmedabad City Authority seals 38 buildings over non-compliance

PNT Reporter

29 May 2023

The Ahmedabad Municipal Corporation (AMC) sealed 38 properties, including 14 in Ranip and 10 in Vastral, over non-compliance with building-use permits. In addition to sealing buildings, AMC embarked on a demolition spree, razing illegal constructions in the historic Walled City. An illegal structure spanning 490 square meters in Shahpur and unauthorized constructions over 13,080 square meters in Danilimda were dismantled. This enforcement highlights AMC's determination to uphold building regulations, underscoring the necessity of legal compliance in urban development.Read more

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Scandal erupts as Chennai authorities and contractor are charged with misconduct

PNT Reporter

29 May 2023

Six individuals, including five employees of the Tamil Nadu Urban Habitat Development Board (TNUHDB) and a private contractor, have been indicted by the Directorate of Vigilance and Anti-Corruption (DVAC) for alleged corruption and quality negligence in a housing project. The housing, intended for the victims of the 2015 Chennai floods, was deemed substandard, leading to a significant loss of 732 crore to the exchequer. The indictment underscores the need for stronger oversight and accountability in government-led construction projects, particularly those aimed at housing disaster victims.Read more

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Gurugram: Officials to inspect New Sector condos for Sewage Treatment Plant functionality

PNT Reporter

26 May 2023

A collaborative team comprising the district town planner (enforcement) and hydrologists will conduct a comprehensive survey of residential societies in the new sectors and Sohna to assess the functionality of sewage treatment plants (STPs). This initiative comes in response to complaints regarding the illegal discharge of sewage in open areas. The team will inspect the residential areas, identify non-compliant societies, and submit a detailed report on their findings. The survey aims to address concerns raised by residents about health and environmental hazards caused by improper sewage disposal in these areas.Read more

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