01 May 2025

The Indian government is moving forward with plans to monetize Bharat Sanchar Nigam Limited's (BSNL) prime land assets, even though the company reported a profit of INR 262 crore in the third quarter of fiscal year 2024-25-the first since 2007. The National Land Monetisation Corporation (NLMC) has initiated the valuation process for approximately 35,591 square metres (8.7 acres) of BSNL's freehold land in five southern cities. This move is part of a broader strategy to reduce the debt of state-run telecom firms and generate resources for BSNL's revival.Read more

01 May 2025

Property owners in Bengaluru have called on the Bruhat Bengaluru Mahanagara Palike (BBMP) to extend the 5% property tax rebate deadline beyond April 30, citing technical issues with the BBMP portal. With the portal being inactive until April 5, property owners had limited time to make their payments. Additional confusion surrounding the new Solid Waste Management (SWM) user fee has further frustrated residents. Many are demanding a return to the previous waste management system and an extension of the rebate deadline to ease the situation.Read more

01 May 2025

India's capital markets regulator, SEBI, has barred Patel Wealth Advisors and its four directors from participating in the securities market following findings of a spoofing scheme that brought in illicit gains of INR 3.2 crore. The firm allegedly manipulated share prices by placing and cancelling large deceptive buy orders in 193 stocks, including Coffee Day Enterprises. SEBI's interim order prohibits them from trading and directs the recovery of illegal profits. The ban will remain in place while the regulator continues its investigation and prepares for a final ruling.Read more

01 May 2025

India Ratings projects a 3-4% increase in home prices for FY26, attributing this moderation to rising inventory levels and a deceleration in demand. Residential sales growth is expected to slow to 9% year-on-year, a decline from the 17% observed in FY25. While Tier I developers maintain resilience, the affordable housing segment continues to lose market share across major Indian cities. Notably, Bengaluru experienced the highest price surge in the first nine months of FY25, followed by the National Capital Region and Pune. The Mumbai Metropolitan Region accounted for the largest market share during this period.Read more

01 May 2025

Embassy Office Parks REIT has secured INR 675 crore through the issuance of commercial papers, aimed at repaying existing borrowings and meeting working capital needs. The short-term debt instrument carries a yield of 7.075% and will be listed on the Wholesale Debt Market segment of BSE. This move is part of the REIT's broader financial strategy to manage liabilities and improve cash flow. In a similar move earlier, the REIT had raised INR 1,000 crore via non-convertible debentures to refinance loans and reduce interest costs, reinforcing investor confidence in its credit profile.Read more

01 May 2025

The Bruhat Bengaluru Mahanagara Palike (BBMP) has extended the 5% property tax rebate deadline for FY 2025-26 to May 31, 2025, offering relief to property owners facing technical issues and confusion over the new Solid Waste Management (SWM) fee. The rebate was originally available only until April 30, but the BBMP portal's delayed functionality and public requests prompted the extension. Approved by the Urban Development Department under Section 144(8) of the BBMP Act, 2020, the move allows taxpayers paying in full by the new deadline to still claim the rebate. The decision aims to ease taxpayer concerns and improve municipal responsiveness.Read more

30 Apr 2025

The government has launched the monetisation of BSNL's prime land assets, starting with 8.7 acres across Ernakulam, Mangaluru, Hyderabad, and Bengaluru, aiming to boost the telecom firm's revival. Valuation proposals from top consultants are due by May 7. Following BSNL's return to profit after 18 years, the DoT targets INR 35,558 crore from land sales by FY27. High-demand locations like Banjara Hills and Outer Ring Road are expected to attract strong investor interest. Proceeds will help reduce BSNL's debt and fund employee welfare. The move is also set to unlock urban land for new real estate and infrastructure development in key cities.Read more

30 Apr 2025

Macrotech Developers, parent of Lodha, posted a 38% year-on-year rise in Q4 FY25 net profit to INR 922 crore, with total income up at INR 4,083 crore. For the full year, net profit surged to INR 2,549 crore, driven by strong housing sales in Mumbai and Pune. The firm recorded INR 14,520 crore in pre-sales and reduced net debt to INR 3,010 crore. With new launches and a GDV addition of INR 17,250 crore, Macrotech targets INR 17,500 crore in pre-sales for FY26. The results mirror sector-wide growth, as players like Godrej Properties and DLF also reported record numbers, signaling continued real estate market strength.Read more

30 Apr 2025

The Chandigarh administration has decided to adjust excess property tax payments in the 2026-27 bills instead of issuing refunds, following public outcry over steep rate hikes. Earlier, residential taxes were tripled and commercial taxes doubled, leading to protests. Rates were later revised, reducing residential hikes to two times and commercial taxes to 5% of annual value. Over 9,000 taxpayers have already cleared dues, contributing around INR 5 crore. Revised bills reflecting lower rates will soon be issued. Managing about 1.42 lakh properties, the administration aims to balance revenue needs with citizen concerns, simplifying the process through adjustments rather than individual refunds.Read more

30 Apr 2025

India's office real estate market continued its growth in Q1 2025, driven by strong leasing demand and limited new supply, pushing the national vacancy rate down to 15.7%. Bengaluru, Mumbai, and Pune led both leasing activity and saw the lowest vacancy levels. Despite a 12.66% decline in new supply year-on-year, leasing remained robust at 20.3 MSF, with IT-BPM, BFSI, and GCCs driving demand. Mumbai recorded the sharpest drop in new supply and the steepest fall in vacancy. Pre-commitments surged, reflecting occupier confidence, while rising rents in tight markets signalled increasing demand amid persistent supply constraints across key office hubs.Read more