Realty plans near monuments to face banks' scrutiny

The Indian Government has requested banks to exercise caution when lending to property projects in areas adjacent to heritage sites, in response to complaints of unauthorised construction in such locations. Blacklisting of developers who encroach on land near monuments, reporting as fraudulent and facilitating strict action against them by authorities has been advised. More site visits and documentation will be required for such projects by lenders, according to an unnamed bank official.

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