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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...
27 Mar 2025
Atmosphere Realty Pvt Ltd has successfully cleared its INR 218-crore debt owed to Japan's Marubeni Corporation through the early redemption of debentures. The company, a joint venture involving The Wadhwa Group, Man Infra Construction Ltd, and Chandak Realtors Pvt Ltd, completed the process well before the scheduled maturity date. Originally set to mature in 2030, the Non-Convertible Debentures (NCDs) were fully redeemed. The early settlement was facilitated by robust sales and internal accruals, particularly from the 'Atmosphere O2' project in Mumbai. Marubeni Corporation has reaffirmed its trust in partnerships with reputed developers and aims to explore further collaborations with Atmosphere Realty.Read more
26 Mar 2025
The state government has decided to transfer INR 112 crore from the Layout Regularisation Scheme (LRS) and Building Regularisation Scheme (BRS) to 40 municipalities to strengthen urban local bodies. This move restores their financial autonomy, allowing them to manage funds without requiring approvals from the finance department. The government will continue paying salaries and pensions, while municipalities can use their revenues for water supply, street lighting, drainage, parks, and road construction. Municipal Administration Principal Secretary S Suresh Kumar has urged civic bodies to use the funds efficiently.
26 Mar 2025
The Prayagraj Municipal Corporation (PMC) has urged homeowners to clear their house and water taxes by March 31, 2025, to avoid penalties. Payments after the deadline will attract 12% interest on property tax and a 10% surcharge on water tax. So far, the PMC has collected INR 95.50 crore from 146,210 properties, aiming for INR 130 crore by year-end. To improve convenience, a unified online portal with QR code-enabled tax bills has been launched for easy payments. Similar efforts in cities like Delhi show a national push toward digital tax collection, boosting transparency and civic revenue for essential services.Read more
26 Mar 2025
SEBI plans to implement more stringent post-listing obligations and disclosure requirements for SMEs through amendments to the Listing Obligations and Disclosure Requirements (LODR) Regulations by early April, following the strengthening of SME IPO eligibility standards. The move follows frequent instances of non-compliance and manipulation within the SME ecosystem. Proposed changes include enhanced transparency on related-party transactions (RPTs), board composition, committee meetings, and a shift from half-yearly to quarterly filings, bringing SME governance closer to mainboard standards. SEBI recently doubled the minimum IPO application size to INR 2 lakh and curbed misuse of IPO proceeds, reinforcing efforts to protect investors and improve corporate governance.
26 Mar 2025
US-based investment firm Bain Capital has signed definitive agreements to acquire joint control in Kerala-headquartered Manappuram Finance, India's second-largest gold loan company. According to multiple sources, Bain Capital is investing approximately INR 4,385 crore for an 18% stake via preferential allotment of equity shares and warrants, priced at INR 236 per share-representing a 30% premium over the six-month average trading price. The deal, regarded as the largest private equity transaction in the NBFC sector, will trigger a mandatory open offer to acquire an additional 26% stake. Depending on the response to the open offer, Bain Capital's holding could increase to 41.7%.
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26 Mar 2025
Embassy Developments Ltd (EDL), one of India's leading real estate developers, has signed agreements with Lam Research (India) Pvt Ltd for the sub-lease and eventual divestment of a 25-acre land parcel in Whitefield, Bengaluru. The INR 1,125 crore transaction will close after regulatory approvals. The deal, executed through EDL's subsidiary Embassy East Business Park Pvt Ltd, highlights Bengaluru's appeal as a global technology hub. EDL's portfolio spans residential, commercial, hospitality, industrial, and SEZ developments, with a strong presence across major Indian cities and a reputation for premium, sustainable projects.
26 Mar 2025
The board of directors of Oberoi Realty had given their approval for entering into a securities subscription agreement (SSA) involving Alpha Wave Ventures II, LP, Vikas Oberoi, and I-Ven Realty. As part of this agreement, Alpha Wave Ventures II, LP had committed to subscribing to 2,77,778 Series A CCPS at INR 44,999.964 per share, along with 10 Class A equity shares priced at INR 10 each. This investment, amounting to INR 1,250 crore, represents a 21.74% stake in I-Ven on a fully diluted basis. The board had also approved I-Ven's rights issue for redeemable preference shares, intended to restructure funds and repay outstanding loans.
26 Mar 2025
The National Housing Bank (NHB) has taken strict action against housing finance companies (HFCs) for mis-selling insurance policies bundled with housing loans without adequately informing borrowers. Earlier, NHB instructed these companies to obtain explicit consent from customers and to provide insurance options from at least two providers. This move follows concerns raised in an earlier meeting this year, where NHB questioned the disproportionate insurance income in relation to the net interest income of HFCs. The regulator's inspections revealed widespread issues, including inadequate disclosures, absence of board-approved policies, and the sale of multiple unnecessary insurance products to single borrowers.
26 Mar 2025
Etonhurst Capital Partners has raised over INR 180 crore in the first closing of its INR 500 crore fund focused on redevelopment projects in Mumbai. The round saw participation from family offices, HNIs, and The Guardian Real Estate Advisory's family office. The capital will support construction, regulatory approvals, and marketing to ensure smooth project execution. With many of Mumbai's aging residential structures requiring urgent redevelopment, Etonhurst plans to deploy over 60% of the funds within the year, targeting high-demand urban zones. Registered as a Category II AIF with SEBI, the firm aims to close the fund by end-2025 and scale up to INR 2,000 crore.
25 Mar 2025
The Ghaziabad Development Authority (GDA) has introduced a special amenity fee for commercial and mixed-use properties within 500 meters of the Namo Bharat and metro corridors, under the UP Urban Planning and Development Rules 2024. This fee, set at 25% of the development charge, applies to shops, malls, and other commercial establishments near transit hubs, promoting transit-oriented development (TOD). Developers can pay in installments for plots over 10,000 sq meters, with interest rates of 12% annually and 15% penalty for late payments. The initiative aims to boost revenue and support urban infrastructure and commercial growth along key transport corridors.Read more
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