#RealtyNewsRoundup: Oriental Bank Of Commerce Reduces MCLR By 10 BPS
After the Reserve Bank of India on June 6 reduced the repo rate by 25 bps, the state-owned Oriental Bank of Commerce has passed on the benefits to the customers by announcing a cut of 0.10 per cent in the marginal cost of funds-based lending rate (MCLR) across various tenors with effect from June 11.
Nearly 1,800 unauthorised colonies might soon be legalised as the Centre-appointed panel has suggested giving land ownership rights to the residents of these localities. The panel submitted a report to the Housing Minister Hardeep Singh Puri recommending a levy of land charges on the occupants at a fraction of the prevailing circle rate around the area to complete the process.
Life expectancy in India has dropped by 2.6 years due to deadly diseases caused by air pollution, a recent report by environment think tank Centre for Science and Environment (CSE) revealed. According to the report, both outdoor and household air pollution are causing these diseases, making it the third highest cause of death in India among all health risks ranking just above smoking.
Meanwhile, pollution levels in Noida have grown seven times higher than the national average, reports unveil. According to the data available with the Central Pollution Control Board (CPCB) and Uttar Pradesh Pollution Control Board (UPPCB), PM2.5 ranged from 300ug/m3 to 373ug/m3 between 5 am and 8 am on June 11, which further worsened to 404ug/m3 by 10am. Meanwhile, the value of PM10 between 5 am and 11 am was 500ug/m3.
Hyderabad suburbs, including Gandipet, Shankarpally, Maheswaram, Shamshabad, Qutubullapur, Ibrahimpatnam and Shadnagar, are emerging as the realty hotspots in the city. According to the revenue data available with the registration department, these localities have registered phenomenal growth in the state with a growth of 70-120 per cent annually. These localities have left behind some of the prominent real estate markets of Gachibowli and Madhapur, among others.
Source: Media report