The Yamuna Expressway Industrial Development Authority (YEIDA) has given a developer a final deadline to deposit dues of ?118 crore by the end of July, failing which it will cancel the allotment of land for a 100-acre township in Sector 22D. YEIDA officials said this was the final ultimatum for the developer, after an earlier deadline of June 30 had lapsed.

The developer had requested a two-month extension last month, citing difficulties in securing full possession of the allotted land. In response, the management said it has deposited ?40 crore and remains committed to paying the full amount. “We are committed to paying all land dues, but we need the Authority's support to ensure full possession of the land and permission to sublease the commercial part of the project,” said the project director.

According to the developer, approximately 30–35% of the 100-acre site is still under cultivation by farmers, making construction and fund-raising through sales difficult. The policy had recalculated the total dues to ?441 crore, of which ?110 crore was to be paid upfront. The developer paid this initial amount but missed subsequent installments despite extensions.

YEIDA rejected the request for commercial subleasing, stating that policy only permits subleases to homebuyers. Cultivation by farmers in the middle of the plot has caused concern among homebuyers. Possession of the complete land and permission to sublease would help accelerate development and sales, with proceeds going toward remaining dues.

The National Housing Bank (NHB) has introduced stricter guidelines for refinancing home loans on under-construction properties. In an order to home financiers, NHB stated that it will now provide refinance only for loans where less than half of the construction is complete at the time of the first disbursement. This rule specifically applies to loans taken for construction on plots or for building homes on self-owned land.

“In cases where home financiers extend loans to individuals for ongoing construction, refinance from NHB will be available only for loans where not more than one-half of the construction has been completed at the time of disbursement of the first tranche,” the order said.

NHB has also mandated that the stage of construction be verified through a technical evaluation report when the first tranche of the loan is disbursed. Financiers have been instructed to ensure that only eligible loans are flagged for NHB refinance.

Many financiers argue that the new rule could affect low-income borrowers, particularly those who begin construction on self-owned land using informal credit from vendors or family. These borrowers often approach financiers only after construction is nearly complete, primarily to repay those debts. Financiers believe such applicants should still qualify for funding under the home loan category.

In March, the regulator also reprimanded home financiers for mis-selling insurance policies bundled with home loans, directing them to immediately stop selling insurance products without clearly disclosing terms and conditions to borrowers.

Starting July 1, the state govt rolled out a time-bound 'deemed NOC' system to streamline the process of obtaining No Objection Certificates (NOCs) for planning permissions. This step is expected to reduce red tape, bring transparency, and speed up project clearances, especially for the housing and infrastructure sector. "This is the first time a state has introduced this system. This GO was released on Oct 24, but norms for deemed NOCs have been released now. This is a welcome step for housing and other industries. This will save three to six months for getting NOCs," said S Sridharan, executive committee member, CREDAI National. Under the new framework, 11 key departments — including district collectorates, fire services, water resources, forest, CMRL, TNHB — department of agriculture, which has a 21-day deadline. Once deemed approval is triggered, departments get a final seven-day objection window. If no objection is raised, or if objections are not resolved within the system-defined periods, the NOC is marked as ‘deemed approved' and can be downloaded by the applicant. Officials said that if an objection is raised within time, there's no fixed limit for the applicant to respond. In coastal regulation zones, approval from the competent authority must be secured before applying for planning clearance. The department of agriculture engineering has been exempted from issuing NOCs, as HACA validation is already considered sufficient. For power infrastructure, a separate NOC from Tangedco is not required for HT/LT lines passing through a site, as these will be verified by CMDA or DTCP. However, Tangedco approval is still necessary for Extra High Tension (EHT) lines such as transmission towers.
 

In an effort to tighten the regulation of real estate activities, the housing and urban development department will collaborate with the revenue and disaster management department.  The decision was taken at a high-level meeting chaired by chief secretary . As per the decision, authorities have been asked to invoke the to recover penalties from defaulters, ensuring compliance with ORERA's directives. To bolster enforcement in the real estate sector, especially in To bolster enforcement in the real estate sector, especially in Development Authority (BDA) and Bhubaneswar Municipal Corporation (BMC). The institutionalisation of monthly coordination meetings among ORERA, the revenue and disaster management department, and the housing and urban development department was also approved during the meeting. These measures aim to streamline efforts and enhance communication between the departments involved in real estate regulation. All district collectors and tehsildars have been instructed to identify and report  unauthorised real estate developments to on a monthly basis.
 

More than 3,000 residents flocked to the Sahakaranagar playground in Byatarayanapura assembly constituency Sunday for the mega e-khata mela that surpassed expectations. Originally slated to end by 2pm, the event has now been extended until 8pm on Monday, due to the sheer volume of applicants. Bengaluru development minister DK Shivakumar inaugurated the door-to-door distribution drive by handing over draft e-khatas to local households. Urging residents to either collect their documents online or attend the mela, he said: "Final e-khatas will be delivered to homes within 100 days. Please verify details and complete the process at the earliest." He also announced plans to replicate such mega camps across other zones. The event primarily attracted citizens who struggled with online applications owing to limited digital literacy or time constraints. With e- khata mandatory from July 1 for any property registration, sale, or transfer in Bengaluru, the mela got an overwhelming response. BBMP officials said the mela enabled the generation of around 1,500 e-khatas in a single day, with each document processed within three to four hours. Of the 1.8 lakh properties in Byatarayanapura, over 51,000 have received final e-khatas. MLA Krishna Byre Gowda said: "Many still think getting an e-khata is hard or unnecessary. But if 5 lakh people have managed, so can others. We'll continue the mela on Monday too." Residents were effusive in their praise. "I came at 7.30am, and by 11pm, my e-khata was ready," said Anil Kumar. Others like Ramalingam, an auto driver, highlighted how such one-stop events help those unable to navigate the online system or avoid bribes. "We've tried for months. Today, we got it in three hours. Over 4k tokens issued, 1,679 processed and 677 final e-khatas were given on spot on the first day.
 

Once seen as the gritty industrial edge of the city, North Chennai is turning into one of the hottest new address in real estate, espically plotted development. Areas such as Red Hills, Puzhal, and Karanodai are fast turning into favourite hubs for plotted development due to various development projects planned by the govt. According to developers, North Chennai is what Anna Nagar was in the 1970s or Besant Nagar in the 1980. From key connectivity upgrades such as Chennai Outer Ring Road (ORR) to the expansion of social infrastructure such as metro, schools, colleges and healthcare facilities, the region is rapidly evolving into a vibrant residential zone. Chennai, Hyderabad and Bengaluru lead in plotted development when compared to the rest of India. These plots are created in all futuristic locations, where the govt has planned future development projects and where investments can grow," said Ranjeeth Rathod, executive committee member, Credai-Chennai. G Square's latest land acquisition aligns with this momentum. The firm has acquired a total 62.38 acres of land to develop 1,091 ready-to-construct villa plots spread across Red Hills, Puzhal, and Karanodai. The total investment across these projects stands at 230 crores. The new projects are strategically located with excellent access to major transit corridors, prominent educational institutions, healthcare hubs and other developments like Madhavaram Mofussil Bus Terminus (MMBT), fintech city at Madhavaram, Chennai Peripheral Ring Road," said Bala Ramajeyam, managing director, G Square Realtors Private Limited. 
 

Two real estate developers have entered into an agreement to jointly acquire a 3.48-acre land parcel in Velachery, Chennai, for a consideration of ?361.18 crore. The land is earmarked for the development of residential dwellings with a total development potential of approximately 7.5 lakh sq ft and an estimated gross development value (GDV) of over ?1,600 crore.

The acquisition will be undertaken through their joint venture entity, and the transaction is expected to be completed by September 30, 2026. The total extent of land in Velachery is 4.50 acres, with the remaining portion to be retained by the current owner for the construction of a new office. The owner aims to reduce debt and consolidate city offices of various divisions through this land monetization.

The state on Thursday informed the Madras high court that the Karur district collector would file a detailed action plan to prevent illegal mining activities in the Amaravathi riverbed in Karur district. The court was hearing suo motu proceedings initiated to prevent illegal sand mining in the Amaravathi riverbed, following a petition filed by the registrar (judicial) of the Madurai bench. The petitioner sought a direction to the authorities to initiate action for the prevention of illegal mining/quarrying of minor minerals in the Amaravathi river and penal action in respect of the illegal mining and transportation of sand and other minerals already undertaken. The petitioner further sought a direction to initiate appropriate action against the district level officers for failure to prevent illegal mining and destruction of the riverbed. Pursuant to the earlier direction, the collector submitted a status report stating that district level and taluk level committees were formed and the illegal mining drastically reduced. Criminal cases are being registered against the people involved in illegal mining and the vehicles are being seized by the officials. Taking into account the submissions, a division bench of justice G R Swaminathan and justice B Pugalendhi adjourned the hearing to July 10 for the filing of the action plan by the collector.
 

To enhance transparency and consumer awareness, Tamil Nadu Real Estate Regulatory Authority (TNRERA) has issued a circular mandating the installation of prominent display boards at all registered real estate project sites. The order, dated May 7, applies to both building and layout projects across the state. The circular outlines the essential information that must be displayed on these boards: name of the promoter, project name, TNRERA registration details, date of completion as per TNRERA registration, and the website address of TNRERA," TNRERA member, M Krishnamoorthy. The regulatory body has reiterated the rule mandated under the Real Estate (Regulation and Development) Act, 2016 (RERA). This initiative by TNRERA is expected to provide prospective homebuyers and investors with easy access to crucial project details. Promoters are now required to install a display board, measuring at least 2ft by 4ft, prominently abutting the public road at each project site. This board must be separate from any other existing display boards and feature essential project information in a readable font size. TNRERA has also said that a condition regarding the display board installation will be incorporated in form-C, which is part of the registration process. Compliance will be rigorously checked and ensured before the issuance of the completion report. S Ramprabhu, chairman of the DTCP committee at the Builders Association of India, said that this is a step in the right direction to improve transparency and buyer confidence.
 

State-owned Bank of Maharashtra on Thursday said it has reduced its interest rate by up to 50 basis points on retail loans, including home, car, education and other loans linked with Repo Linked Lending Rate. The interest rate reduction by Pune-based lender is in line with the rate moderation done by RBI last week and the new rates are effective from June 10. With the rate cut, its home loan now starts from 7.35 per cent and car loan from 7.7 per cent, which is among the lowest interest rates in the banking industry, BoM said in a statement. This benefit of reduced interest rates reflects the bank's commitment to offer best financing solutions to all its customers and help them fulfil their dreams, it said. In the current interest rate landscape, the bank is making retail loans cheaper to bring in cheer among its customers, it added. Meanwhile, Bank of Baroda (BoB) also reduced its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points across various tenors from one month to one year. Following the RBI action, many banks have slashed lending rate, and remaining will follow suit soon. On Friday, the RBI slashed benchmark interest rate by a larger-than-expected 50 basis points, and unexpectedly reduced the cash reserve ratio for banks to make available more money to lend in a bid to boost the economy. The RBI's six-member monetary policy committee, headed by Governor Sanjay Malhotra and consisting of three external members, voted five to one to lower the benchmark repurchase or repo rate by 50 basis points to 5.5 per cent. It also slashed the cash reserve ratio by 100 basis points to 3 per cent in tranches that will add Rs 2.5 lakh crore to already surplus liquidity in the banking system.
 

The regulator has introduced stricter guidelines for refinancing home loans on under-construction properties. In an order to home financiers, it stated that refinance will now be provided only for loans where less than half of the construction is complete at the time of the first disbursement. This rule specifically applies to loans taken for construction on plots or for building homes on self-owned land.

“In cases where home financiers extend loans for ongoing construction, refinance will be available only for loans where not more than one-half of the construction has been completed at the time of disbursement of the first tranche,” the order said.

The regulator has also mandated that the stage of construction be verified through a technical evaluation report when the first tranche is disbursed, and financiers must ensure only eligible loans are flagged for refinance.

Sources said the change was prompted by instances where borrowers applied for home loans after construction was already complete, effectively using the loan to monetise finished property. Such cases should instead be treated as loans against property (LAP). Out of the outstanding home loans of ?33.53 lakh crore at the end of September 2024, housing finance companies held a share of ?6.25 lakh crore.

The regulator has been tightening oversight and enforcing stricter compliance norms. In December last year, all housing financiers were mandated to report non-performing asset (NPA) data on the first day of each month after it was observed that many lenders continued recording collections for the previous month into the following week.

In March, further action was taken against financiers for mis-selling insurance policies bundled with home loans, directing them to immediately stop selling insurance products without clearly disclosing terms and conditions to borrowers.

A sessions court in Mumbai on Friday denied anticipatory bail to four directors of a real estate company in a Rs 600 crore financial fraud case. The additional sessions judge rejected the pre-arrest bail pleas of the directors. The reasoned order has not been made available yet.

The Economic Offence Wing (EOW) had registered an FIR against the company and its directors based on a complaint by an asset reconstruction firm. According to the FIR, rs 600 crore raised via secured Non-Convertible Debentures (NCDs) for a residential project was allegedly siphoned off through layered transactions, benefiting promoters and related entities.

The accused sought pre-arrest bail, claiming innocence and alleging that the FIR was filed with the “sole intention to harass and humiliate” them. They argued that the FIR contained incorrect allegations and was lodged after an “inexplicable and unjustifiable” delay for the alleged offences committed between March 2018 and March 2023, suggesting that the allegations were fabricated.

The court, however, rejected their pleas.