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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...
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
25 Mar 2025
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, delivered a significant ruling distinguishing between legal and beneficial ownership in property transactions. In a case involving V N Jain, who was listed as a joint owner with his brother on a property sold for INR 54 lakh during the financial year 2014-15, the ITAT determined that mere inclusion of a name on the property title does not imply ownership if evidence suggests otherwise. Jain's brother had purchased and retained full rights over the property, with Jain's name added purely out of affection. The ITAT ruled that since Jain neither invested in nor benefited from the sale, he was not liable for capital gains tax. Tax experts have lauded the decision for reinforcing natural justice and protecting individuals from unwarranted tax liabilities.
25 Mar 2025
Brigade Group has partnered with Gruhas to launch the Earth Fund, India's first SEBI-registered real estate and sustainability-focused investment platform under Zoiros Projects Private Limited. The fund, worth INR 200 crore with an additional green-shoe option of INR 100 crore, is designed to invest in early-stage startups operating in PropTech, construction, and sustainability. By combining Brigade's legacy in real estate with Gruhas' investment expertise, the Earth Fund aims to accelerate 10 to 15 innovative startups with investments ranging from USD 1-2 million. The initiative focuses on UrbanTech, climate tech, and smart infrastructure to reshape India's built environment.Read more
25 Mar 2025
The Bruhat Bengaluru Mahanagara Palike (BBMP) is set to implement a stringent penalty regime for property tax defaulters from the beginning of April. Defaulters will face a 100% penalty on unpaid dues along with an annual interest of up to 15%. This follows the expiry of relaxed provisions under the amended BBMP Act. The civic body has already collected over INR 4,600 crore in property tax for the current fiscal year, achieving 88.36% of its set target. However, with over 1.8 lakh properties still owing taxes, BBMP officials are stepping up enforcement efforts across key zones.Read more
25 Mar 2025
Hyderabad's residential property market saw a 16% year-on-year decline in registrations this February, with 5,900 units recorded compared to 7,135 units last year. The total property value also dropped by 10% to INR 3,925 crore, according to data from the Telangana Registration and Stamps Department. However, month-on-month registrations rose 10%, signaling improving buyer sentiment. The mid-segment market (INR 50 lakh-1 crore) fell by 15%, while luxury homes (INR 1 crore+) rose slightly by 1%, making up 18% of total sales. Demand shifted toward larger homes, with 67% of buyers choosing properties between 1,000-2,000 sq ft. Rangareddy and Medchal-Malkajgiri districts dominated transactions, and premium deals exceeding INR 6 crore surged in Central Hyderabad, reflecting growing luxury housing demand.Read more
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25 Mar 2025
The Navi Mumbai Municipal Corporation (NMMC) has introduced the Abhay scheme, aimed at recovering outstanding water bill payments from its customers. The initiative provides a 50% discount on late fees and penalty amounts for all categories of water bill payers, including gram panchayats connected to the primary water channel between Morbe Dam and Kalamboli. The scheme is set to be implemented from 21 March 2025 to 31 March 2025, encouraging citizens to clear their dues within this timeframe. The NMMC has urged residents to take advantage of this opportunity to settle pending payments.Read more
25 Mar 2025
HDFC Capital, the private equity arm of HDFC Group, has partnered with Bengaluru-based developer Total Environment to create an INR 1,300 crore platform aimed at developing residential projects in Bengaluru. The collaboration will add 6.5 million sq ft of new housing to Total Environment's existing 16 million sq ft portfolio, with a combined gross development value of over INR 10,100 crore to be delivered over the next four to five years. This marks HDFC Capital's fourth investment in Total Environment, reinforcing its strategy of backing leading developers. The partnership focuses on sustainable greenfield projects catering to mid-income and upper-middle-income buyers, aligning with India's 'Housing for All' initiative and ongoing demand for quality homes.
25 Mar 2025
Godrej Properties has acquired approximately 10 acres of land in Yelahanka, Bengaluru. The project will include around 1.5 million sq ft of saleable area, featuring primarily residential units along with high street retail, and has an estimated revenue potential of INR 2,500 crore. Earlier, in January 2025, the company secured a 24-acre land parcel in Indore, targeting a saleable area of 6.20 lakh sq ft. Additionally, in July 2024, it acquired a 46-acre plot on Indore-Ujjain Road, further expanding its development footprint.
24 Mar 2025
Nivara Home Finance Limited has secured an equity investment of INR 245 crore in its Series B round, spearheaded by True North, with continued support from existing investor Baring PE India and the company's promoters, Sunil Rohokale and Monik Koticha. True North Fund VII is set to invest INR 170 crore, while Baring PE India and the promoters have committed INR 50 crore and INR 25 crore, respectively. The fresh capital is aimed at accelerating Nivara's expansion plans, enhancing its technology platform, widening its distribution network, and introducing innovative credit solutions in the affordable housing segment.Read more
24 Mar 2025
German insurance major Allianz SE announced its decision to exit its Indian insurance joint ventures with the Bajaj Group. Nearly six weeks after the government permitted 100% FDI in insurance ventures, Allianz entered into binding agreements with Bajaj Finserv Ltd to sell its 26% stakes in Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC). The transaction, valued at INR 24,600 crore (EUR 2.6 billion), would be paid in tranches. Bajaj Finserv will subsequently hold 75.01% equity in each firm, while promoter entities Bajaj Holdings and Investment Ltd and Jamnalal Sons Pvt Ltd will acquire the remaining 24.99% equity. The deal also includes Bajaj Finserv's acquisition of Allianz's entire stake in Bajaj Allianz Financial Distributors Limited (BAFDL).Read more
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