#RealtyNewsRoundup: SBI Slashes Lending Rate By 5 BSP To 8.40%

Public lender State Bank of India (SBI) announced a rate cut of five basis points across all tenors effective from July 10. With the third rate cut by SBI this year, the one-year marginal cost of funds-based lending rate (MCLR) or minimum lending rate has been reduced to 8.40 per cent from 8.45 per cent. 

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The Delhi Development Authority (DDA) on July 9 approved a proposal to reduce the price of apartments for the economically-weaker-section (EWS) category by 40 per cent of the construction cost. There are over 7,000 EWS apartments located at Narela that are up for sale in DDA’s 2019 housing scheme.

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Himachal Pradesh has become the first Indian state to notify the Energy Conservation Building Code 2018. The Himachal Pradesh Energy Conservation Building Code (HPEBC) & Rules, 2018, aims at reducing energy consumption demand in commercial buildings by 30 per cent. Under the new rules, commercial buildings across the state with a built-up area of 750 square metre or more would be granted planning permission by authorities only after the compliance of the provisions of this code.

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According to data released by the Uttar Pradesh groundwater department, the levels of groundwater in Noida were dropping at an alarming annual rate of 1.792 metre to 1.85 metres. The data reveals that nearly 35 per cent of monitoring stations in the city were running dry. Among the worst drops assessed in June, the groundwater was depleting at an annual rate of 3.915 metre and 3.84 metre in Greater Noida and 2.24 metre in Noida.

Source: Media reports