Latest news with #CommencementCertificate
Indian Express
6 days ago
- Business
- Indian Express
Govt approves master plan for Dharavi Redevelopment Project
The Maharashtra government on Wednesday approved the master plan for the Dharavi Redevelopment Project. The approval was granted during a high-level review meeting chaired by Chief Minister Devendra Fadnavis at the Sahyadri Guest House, where Chief Executive Officer of the project SVR Srinivas presented a detailed overview of the plan. After the presentation, CM Fadnavis said that the project would be implemented through an environmentally sustainable and integrated approach. He emphasised that the rehabilitation of local artisans and residents would be prioritised in the ambitious initiative. According to officials, Fadnavis directed authorities to ensure that Dharavi's original identity as a vibrant economic and industrial hub is preserved. 'The core essence of Dharavi must be protected. We are not just building structures, we are rebuilding lives,' Fadnavis said during the meeting. 'Every eligible resident must receive a home in Dharavi. Every skilled artisan and small business should be brought into the mainstream through fair rehabilitation. The criteria for eligibility may differ, but no one from Dharavi should be left behind,' he added. Deputy Chief Minister Eknath Shinde, who was also present at the meeting, instructed the departments concerned to expedite all necessary approvals and processes related to the project. The Dharavi project is considered one of Asia's largest slum rehabilitation initiatives. The redevelopment is being carried out by a special purpose vehicle (SPV) set up through a joint venture between the Maharashtra government's Slum Rehabilitation Authority (SRA) and the Adani Group's Dharavi Redevelopment Project Private Limited (DRPPL), now renamed Navbharat Mega Developers Private Limited (NMDPL). In this SPV, Adani Properties Private Limited (APPL) holds an 80 per cent stake, while the remaining 20 per cent is held by the SRA. The gross area of the Dharavi Notified Area is approximately 253.7 hectares. Of this, the redevelopment project covers 173.90 hectares (usable area), including land under the Railway Land Development Authority (RLDA), while 79 hectares of property are excluded from the project scope. The total estimated cost of the project is Rs 95,790 crore. The project received official approval and the Letter of Acceptance (LoA) on July 17, 2023. Construction began on January 14, 2025, with the issuance of the First Commencement Certificate (First CC). The project is scheduled to be completed within seven years, by January 13, 2032.
Time of India
21-05-2025
- Business
- Time of India
Home loan interest rates less than 9%: 10 private banks offering lowest interest on home loan
Buying a home is a significant milestone, often requiring financial assistance through a home loan. Private banks offer home loans to help individuals buy, construct, or upgrade residential real estate properties. Understanding the nuances of home loan interest rates, the importance of a good credit score, Equated Monthly Installments (EMIs), and the important documents to check before buying a property can make this process smoother and more cost-effective. Importance of credit score Your interest rate is linked to your credit score, which can be ensured by timely payment of all EMIs and credit card dues. Being a super-prime borrower (score: 800+) helps you get a lower home loan rate. Equated Monthly Instalment Still confused between New vs Old Tax Regime? Find out which one saves you more with our tax calculator! EMI or Equated Monthly Instalment is a fixed amount paid by you to the bank on a specific date every month. The EMI's are fixed when you borrow money from the bank as a loan. EMI's are used to pay both interest and principal amount of a loan in a way that over a specific number of years, the loan amount is repaid to the bank along with interest. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like You will never turn off your computer again. Undo Interest rate Many private banks offer home loans to their customers and interest rates differ depending on credit score, home loan tenure, age, and occupation. Here is a quick comparison of interest rates being offered by private banks in May 2025. Live Events The EMI is calculated on a loan of Rs 30 lakh for 20 years. Private bank Home loan interest rates EMI 1 J&K Bank 8 25,080 2 IDBI Bank 8.25 25,560 3 Karur Vysya Bank 8.45 25,950 4 HDFC Ban 8.5 26,040 5 Tamilnad Mercantile Bank 8.5 26,040 6 Kotak Mahindra Bank 8.65 26,310 7 South Indian Bank 8.7 26,430 8 Axis Bank 8.75 26,520 9 ICICI Bank 8.75 26,520 10 Karnataka Bank 8.78 26,580 What documents should I check before buying a new property? Below are the documents borrowers need to check when buying a new property. Sale Deed Title Deed Approved Building plans Completion Certificate (For Newly constructed property) Commencement Certificate (For Under-construction property) Conversion Certificate( If agricultural land is converted to non-agricultural) Khata Certificate (especially in Bengaluru) Encumbrance Certificate Latest Tax Receipts Occupancy Certificate By understanding the fixed and floating interest rates, maintaining a strong credit score, managing EMIs effectively, and verifying essential property documents, you can make informed decisions that align with your financial goals. How does my salary influence my home loan amount? According to SBI home loan FAQs, 'Apart from other criteria and norms of the lending bank, the home loan amount is generally calculated on the basis of your EMI and NMI ratio, where NMI is the take-home pay after taxes and other payroll deductions. The EMI/NMI ratio varies in the range of 20% to 70% for different Net Annual Income slabs. The loan amount can be increased by including a co-applicant.'
New Indian Express
28-04-2025
- Politics
- New Indian Express
BWSSB, Bescom to help BBMP in acting against building bylaw violators
BENGALURU: BWSSB and Bescom together are set to crack the whip against building bylaw violators and support BBMP in disciplining such property owners. After the Babusab building collapse in which nine persons were killed on October 22, 2024, the Lokayukta had directed the agencies to disconnect power and sewage connections to under-construction buildings with severe violations. 'The tragedy in North Bengaluru that took nine lives last October led to Bescom issuing a circular on November 28, 2024 to disconnect power, both temporary and permanent, to a building in violation after a seven-day notice by the municipality. This order barely took root despite a strict mandate to local officials,' said Rajagopalan R, Convenor, Bengaluru Coalition. The Supreme Court has also passed an order with 12 specific directions to chief secretaries of all states and registrars of all high courts, making it clear that no utility services should be provided without Completion and Occupancy certificates. 'Any official who does not promptly comply with the SC order will be held in contempt and prosecuted as per local law. The Bescom after several requests finally issued a circular on 4/4/25, mandating the Commencement Certificate and Occupancy Certificate (CC/OC) requirements for service connection and also directed local offices to promptly comply with BBMP requests,' Rajagopalan said. A top BWSSB official said it will also issue a similar circular mandating CC/OC from BBMP for water and sewage connections. 'BBMP has to crack the whip on buildings with setback violations and those which have unauthorised floors that are against BBMP Act 2020. In many cases, the building has no plan sanction and they just come up. If BBMP gives a notice and asks us to disconnect connections, we will do it. In case BBMP also fails to do so, before giving connections, we will ask the owners to produce the CC/OC,' said a senior BWSSB official.
