24 Jun 2025

The Gujarat government has announced a comprehensive INR 3,395 crore funding for civic development across eight municipal corporations, 22 municipalities, and four Urban Development Authorities. A large share INR 3,263 crore will go to infrastructure projects like roads, drainage, rainwater systems, and public amenities. The initiative aligns with the state's declaration of the current period as its "Urban Development Year", following a 40% hike in the urban budget to INR 30,325 crore. With tailored allocations for rapidly growing and newly formed municipal corporations, this move aims to fast-track Gujarat's urban transformation.Read more

24 Jun 2025

Institutional investments in Indian real estate dropped by 37% to USD 3.06 billion in the first half of 2025, largely due to global economic uncertainty and geopolitical instability, according to JLL. Foreign investors made up 68% of the total inflows, while domestic investors contributed 32%. Despite the dip, JLL highlighted the sector's resilience and noted continued investor participation via REITs, QIPs, and listed entities. The housing segment attracted the highest share at 38%. A pipeline of deals exceeding USD 1 billion indicates potential recovery in the coming months.Read more

23 Jun 2025

The Nashik Municipal Corporation (NMC) is set to auction properties of 73 major property tax defaulters next month, targeting those who ignored earlier confiscation notices. Each defaulter owes over INR1 lakh, and the crackdown follows warnings sent to 425 such cases. The city faces over INR250 crore in unpaid property taxes from more than 1.5 lakh defaulters. Earlier this fiscal year, NMC ran an amnesty scheme offering up to 90% penalty rebates, which over 60,000 defaulters used, resulting in INR30 crore in waived penalties. Property tax is crucial for city services, and auctions are being used as a last-resort recovery method.Read more

23 Jun 2025

Larsen & Toubro (L&T) has mobilised INR 500 crore through the issuance of non-convertible debentures (NCDs) tied to environmental, social and governance (ESG) benchmarks. The NCDs, valued at INR 1 lakh each and carrying an interest rate of 6.35%, will mature in 2028 and bear annual interest. The issuance is part of SEBI�s ESG Debt Securities Framework and is expected to be listed on the NSE. Meanwhile, L&T recorded a 25% increase in consolidated profit after tax for the March quarter, supported by higher operational revenues and an exceptional gain.Read more

20 Jun 2025

Kalpataru Ltd has set its IPO price band at INR 387-INR 414 a share, aiming to raise INR 1,590 crore through a pure fresh issue-meaning every rupee goes straight into the company. Bidding opens for three days, following an anchor investor round, and values the developer at roughly INR 8,500 crore at the top end. Funds will primarily pare debt and cover general corporate needs. The offer allots 75 % to QIBs, 15 % to NIIs, and 10 % to retail, with a minimum lot of 36 shares. ICICI Securities, JM Financial, and Nomura lead the issue, which will list on both BSE and NSE.Read more

20 Jun 2025

The Maharashtra government has rolled out major financial incentives, including stamp duty concessions, to drive large-scale redevelopment and industrial housing projects across the state. Key among these is a stamp duty waiver for the Special Purpose Vehicle (SPV) overseeing the Dharavi redevelopment-one of the world's largest slum transformation efforts-applicable to all property transactions within the notified area. Separately, a 50% stamp duty concession has been granted to residential units under the Integrated Industrial Area (IIA) policy, with Pen Township in Raigad becoming the first project to benefit. These incentives aim to reduce costs, attract investment, and accelerate planned urban and industrial growth.Read more

20 Jun 2025

Knowledge Realty Trust (KRT), a joint venture between Sattva Group and Blackstone, has raised INR 1,400 crore from family offices and HNIs ahead of its INR 6,200 crore IPO. The trust, which recently filed its DRHP with SEBI, manages 30 premium office assets across India's top metros, totalling 48 million sq. ft.-37 million of which is already completed and 90% leased. With an estimated asset value of INR 60,000 crore, KRT is set to become India's largest REIT by Net Operating Income and asset base. This marks the fifth REIT listing in India and Blackstone's fifth public real estate offering in the country.Read more

20 Jun 2025

Artificial intelligence investments are thriving even as global trade faces fractures and cross-border capital flows slow down, according to Moody's Analytics. The report revealed that developed and emerging economies in East and Southeast Asia, particularly India, Singapore and Malaysia, are fast becoming focal points for AI-related infrastructure. These nations are attracting major global investors eyeing data centre development and semiconductor manufacturing. With strong policy support, cost advantages and robust demand, these regions are establishing themselves as key tech investment hubs amid a shifting geopolitical and economic landscape.Read more

19 Jun 2025

The Nagpur Municipal Corporation (NMC) has seen a 28% jump in property tax collections this financial year, thanks to a rebate scheme encouraging early payments. By June 11, NMC collected INR 45.33 crore from 1.16 lakh property owners-up from INR 35.47 crore and 85,581 taxpayers in the same period last year. The scheme offers a 15% discount for online payments and 10% for offline ones made by June 30. Reduced rebates apply for payments until December 31. Laxmi Nagar zone led collections, while zones like Dhantoli and Gandhibagh lagged slightly. The increased revenue will help NMC strengthen city services and meet its annual tax targets.Read more

19 Jun 2025

The Mumbai Metro Rail Corporation Limited (MMRCL) has released long-pending payments to contractors working on Metro Line 3, resolving a standstill caused by a property tax dispute with the BMC. The issue revolved around BMC's tax claims on casting yards, which contractors like Dogus Soma JV, CEC-ITD JV, L&T STEC JV, and HCC argued were exempt under Section 184 of the Railways Act, 1989. The Bombay High Court provided interim relief in April 2024, halting any forceful tax recovery. With no new recovery notices issued and undertakings now secured, MMRCL has resumed disbursing funds to maintain construction progress.Read more