#RealtyNewsRoundup: IDBI Bank Reduces MCLR By 5-10 BPS

Life Insurance Corporation-owned IDBI Bank has reduced the marginal cost of funds-based lending rate (MCLR) by 5-10 basis points, passing on the benefits of the recent cut in the repo rate by the Reserve Bank of India to the consumers. The one-year MCLR or the minimum lending rate now stands at 8.95 per cent.

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The Uttar Pradesh solid waste management monitoring committee on June 12 directed the authorities to demolish all the illegal construction that has mushroomed along the Hindon floodplains near Gautam Buddh Nagar. The illegal properties here also include housing units. The monitoring committee has also directed the UP irrigation department to define the floodplain area where construction will be barred. The move came after the committee during its inspection found that there was illegal dumping of effluent in the river.

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Amrapali homebuyers are now planning to reach out to Uttar Pradesh Chief Minister Adityanath Yogi to provide stress fund to complete over 30,000 flats construction on which is stalled for long. For this, an association of homebuyers has written to the local MLA to help arrange a meeting with the UP CM. This move has come after the Supreme Court asked the Noida Authority to complete the stalled projects, a proposal that authority declined due to lack of expertise.

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The panel that submitted a report to legalise nearly 1,800 unauthorised colonies in Delhi on June 11 has now set a deadline of three months to complete the task. For this, the panel has defined the functions and responsibility of agencies included in the process -- the housing ministry, the Delhi Development Authority and the Delhi government’s revenue and land and building departments.

Source: Media reports