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When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
04 Apr 2025
The Ghaziabad Municipal Corporation is set to take action against 94,920 property owners who have defaulted on property tax payments for FY 2024-25, leading to a revenue shortfall of INR 40-45 crore. Defaulters will face a 12% interest charge on the outstanding amount from April 1, with potential consequences such as property sealing and disconnection of water and sewer services. Meanwhile, the civic body has approved its highest-ever budget of INR 3,722 crore for infrastructure development. Separately, the draft Master Plan 2031 has been delayed further as the Ghaziabad Development Authority (GDA) has invited public objections over 65 drafting errors. The plan, intended to replace the 2021 master plan, has been in development since 2018-19 and awaits final approval from the Uttar Pradesh government.
04 Apr 2025
The Stamps and Registration Department in Noida recorded an 18% year-on-year increase in revenue for FY 2024-25, collecting INR 4,230 crore compared to INR 3,575 crore the previous year. This marks the highest revenue collection in a decade, though it fell short of the INR 4,880 crore target, achieving 86% of it. The rise was attributed to increased property registrations, particularly of flats in stalled group housing projects, following a two-year zero-period waiver under the Uttar Pradesh government's rehabilitation package. To boost collections, offices remained open on weekends, registering 18,405 flats, including nearly 12,000 from stalled projects.
03 Apr 2025
The Municipal Corporation of Delhi (MCD) has attached 88 properties and 87 bank accounts of property tax defaulters across various zones, recovering approximately INR 25.75 crore in outstanding dues. The crackdown targeted several areas, including City SP, Civil Lines, and Rohini, with significant recoveries. MCD has warned property owners to clear their dues before the deadline to avoid further actions, with extended office hours to facilitate payments.
03 Apr 2025
The Ghaziabad district administration has approved compensation for farmers whose land will be acquired for the Harnandipuram township at four times the existing circle rates. The compensation varies across five villages, with rates ranging from INR 1,020 to INR 7,200 per square meter. The project is part of an INR 15,000 crore initiative backed by the government, with INR 400 crore already allocated. Additional benefits, including developed plots in exchange, will also be proposed to affected farmers.
03 Apr 2025
Kolhapur Municipal Corporation sealed 25 shops in the Kapiltirth vegetable market for unpaid rent, taxes, and utility dues dating back to 2015. The operation, carried out under police protection, recovered INR 15 lakh from rent defaulters. Additionally, INR 2.9 crore in water supply arrears was collected from the Central Railway, and a 50% discount scheme on outstanding bills helped recover INR 13.6 crore from citizens. The municipality continues its push to recover overdue payments and enforce regulations.
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03 Apr 2025
Mumbai's real estate market experienced a 10.3% year-on-year increase in property registrations in March, with a record INR 1,597 crore in stamp duty collections, marking a 45% YoY growth. High-value transactions drove the growth, with residential properties making up 80% of registrations. For FY 2024-25, registrations rose by 9%, and stamp duty collections increased by 22%. Premium properties, especially those priced above INR 2 crore, saw an uptick in demand, signalling shifting buyer preferences toward larger, higher-end homes. The Western and Central Suburbs remained the dominant real estate hubs, accounting for 78% of the total market share. However, the Central Suburbs experienced the most significant growth, increasing their share from 29% to 34%.
03 Apr 2025
Effective April 1, the Nashik Municipal Corporation (NMC) will levy a 30% additional tax on both residential and commercial rental properties, replacing the previous high surcharges. Earlier, Residential rental properties had to pay a surcharge of 100%, while commercial rental properties had to pay 400%. Property owners will need to provide tenant information to benefit from the new system. NMC has appointed private agencies to conduct surveys and ensure proper tax assessments.
02 Apr 2025
SEBI has introduced a fast-track framework for follow-on public offers (FPOs) to streamline capital raising by Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). Key provisions include mandatory in-principle listing approvals, lock-in periods for sponsors, and a minimum 25% public unit holding post-FPO. Merchant bankers must submit due diligence certificates alongside draft FPO documents. The move aligns with global practices in the U.S. and U.K., aiming to boost investor confidence, market transparency, and fund access. By simplifying fundraising norms, SEBI supports faster capital mobilisation for real estate and infrastructure development across India.Read more
02 Apr 2025
The district committee in Bhopal is currently reviewing objections to an 18% increase in property guideline rates, which has sparked concerns among various stakeholders. The proposed hike, aimed at aligning property rates with the current market conditions, could impact property buyers and valuations. The committee is carefully assessing the feedback before finalising the new rates, which will directly affect stamp duties and property valuations. This review process will help ensure a balanced approach that considers both market dynamics and public concerns regarding the proposed increase.
02 Apr 2025
TruHome Finance has raised USD 100 million through external commercial borrowings (ECB) to fund affordable housing projects in India. The raised capital will be utilised to extend home loans to economically weaker sections and low-income groups, supporting the government's mission to make housing more accessible. This financial move is expected to enhance TruHome's capacity to lend, promoting affordable housing solutions across the country. The funding will help accelerate the development of affordable homes, contributing to the sector's overall growth and meeting the rising demand for budget-friendly housing.
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