13 May 2025

The Ludhiana Improvement Trust (LIT) has launched two one-time settlement schemes aimed at easing the financial burden on property owners. These policies offer significant discounts on non-construction fees and provide an opportunity for allottees with pending dues to regularize their properties. Eligible individuals, such as senior citizens and legal heirs of deceased soldiers, are entitled to additional benefits. Property owners must submit their applications by July 31 to take advantage of these schemes, which aim to enhance urban development and compliance in Ludhiana.Read more

12 May 2025

Aptus Value Housing Finance India Ltd, headquartered in Chennai, reported a consolidated profit of INR 207.02 crore for the January-March 2025 quarter, marking a significant rise from INR 164.03 crore in the corresponding quarter of the previous year. For the financial year ending March 2025, the company achieved a profit of INR 751.24 crore, up from INR 611.89 crore in the previous financial year. The company's Assets Under Management (AUM) grew by 25% year-on-year, reaching INR 10,865 crore. During FY25, the firm disbursed INR 3,604 crore, reflecting a 15% growth in disbursements. Aptus also expanded its operational network by adding 38 new branches, increasing its presence to 300 locations.Read more

12 May 2025

CBRE's recently released Q1 2025 report for the Asia Pacific region reveals varied performance across the real estate sectors. While office leasing showed strong growth, especially due to upgrading and relocation demand, commercial real estate investment volumes dipped slightly by 1% quarter-on-quarter (q-o-q), totalling USD 32.8 billion. The office market saw a 25% year-on-year (y-o-y) improvement in net absorption, and retail leasing sentiment remained optimistic. However, the logistics sector faced increased vacancy rates as occupiers hesitated due to global trade uncertainties. Investment activity was primarily boosted by Japan and Korea, with office sector investments outperforming others.Read more

12 May 2025

The Nashik Metropolitan Regional Development Authority (NMRDA) has been entrusted with 13,645 hectares of government land across 190 villages in six talukas. This initiative aims to address the rapid urbanization in peri-urban and semi-urban areas, where local bodies often lack the resources for systematic development. NMRDA plans to create an integrated development plan, utilizing these lands for essential civic infrastructure such as sports grounds and water treatment plants. The authority is also in the process of formulating a land-use policy to ensure organized and community-centric development.Read more

12 May 2025

Property Share Investment Trust, India's first registered Small and Medium Real Estate Investment Trust (SM REIT), has filed a draft document for an INR 472 crore Initial Public Offering (IPO) of PropShare Titania, its second SM REIT scheme. The IPO will solely consist of a fresh issue of Titania units, with no Offer For Sale (OFS) component. PropShare Titania comprises 4,37,973 sq ft of grade A+ office space in G Corp Tech Park, Mumbai, fully occupied by prominent tenants like Aditya Birla Capital and Concentrix. The scheme offers projected distribution yields of 9 per cent for FY26 and FY27 and 9.1 per cent for FY28. Proceeds from the IPO will primarily be utilised for asset acquisition.Read more

12 May 2025

Star Housing Finance Limited (Star HFL), a BSE-listed home finance company specialising in low-cost retail housing finance, has reported notable financial growth for the fiscal year ending March 31, 2025. The company recorded a 54% increase in revenue, reaching INR 94.96 crores, and a 25% rise in profit after tax (PAT), amounting to INR 11.10 crores. Star HFL's assets under management (AUM) surged by 22% to INR 520.70 crores, driven by increased demand for affordable home loans. The company disbursed housing finance worth INR 148.60 crores to over 1,250 homebuyers across its operational geographies, while also executing its first direct assignment valued at INR 55.83 crores.Read more

12 May 2025

The Bruhat Bengaluru Mahanagara Palike (BBMP) reached a major milestone in April 2025 when it collected INR 1,417 crore in property taxes, which accounted for almost 25% of its ambitious annual target of INR 5,716 crore. This marks a substantial increase from the previous year's collection of INR 670 crore in the same month. The BBMP attributes this surge to the integration of solid waste management charges with property tax payments and the extension of a 5% rebate on early payments until May 31, 2025. Despite the positive trend, approximately 3.75 lakh property owners still owe INR 836 crore in unpaid taxes, prompting the BBMP to plan stringent recovery measures post-May 31.Read more

09 May 2025

Ajay Poly, Laxmi India Finance, and Veritas Finance were among the five businesses that received regulatory approval from SEBI earlier this week to raise money through initial public offerings (IPOs). Additionally, Rajasthan-based Jajoo Rashmi Refractories and Kolkata-based Regaal Resources received the green light to float IPOs. Veritas Finance aims to raise INR 2,800 crore, comprising a fresh issue worth INR 600 crore and an Offer-for-Sale (OFS) of INR 2,200 crore by key investors. Laxmi India Finance, Ajay Poly, Regaal Resources, and Jajoo Rashmi Refractories have outlined specific plans for fund utilisation, ranging from debt repayment to expanding manufacturing capacities. Meanwhile, Earthood Services withdrew its draft IPO documents.Read more

09 May 2025

Aadhar Housing Finance reported a 21 per cent increase in its net profit for the fourth quarter of the financial year 2024-25, amounting to INR 245 crore. The housing finance company's profit for the corresponding quarter in the previous year stood at INR 202 crore. Total income for the quarter rose to INR 834 crore from INR 692 crore in the same period last year, driven by a significant surge in interest income, which climbed to INR 722 crore from INR 596 crore. Asset Under Management (AUM) also grew by 21 per cent, reaching INR 25,531 crore. Meanwhile, the board has appointed Raj Vikash Verma, former chairman and managing director of National Housing Bank, as an independent director.Read more

09 May 2025

Nexus Select Trust recently announced it has successfully acquired a commercial complex in Ludhiana that included a 96-key Radisson Hotel and a shopping mall. The transaction, valued at an enterprise amount of INR 531 crore, includes a purchase consideration of INR 490 crore, associated stamp duty of INR 10 crore, and provisions for capital expenditure, such as hotel renovations and mall upgrades. The MBD Complex, a Grade-A urban consumption centre, spans approximately 0.3 million square feet with a current occupancy rate of 95 per cent. Nexus Select Trust, India's first publicly listed retail REIT, continues to expand its diversified portfolio, which now includes 19 shopping malls, three hotel assets, and three office assets.Read more