05 Mar 2025

With the financial year-end approaching, Trichy Corporation has intensified arrears recovery, targeting commercial properties with overdue taxes exceeding three years. As of March 2, tax collections reached INR 137.3 crore, with strict measures like shutting underground drainage (UGD) facilities boosting recoveries. Meerut and Hyderabad municipal bodies have adopted similar tactics, including sealing properties and issuing auction warrants. Meanwhile, Delhi introduced tax waivers to encourage payments. Trichy's survey of 5,400 properties added INR 10 crore in revenue, and UPI payments have simplified collections. These strategies aim to enhance tax efficiency and civic resource management across municipalities.Read more

05 Mar 2025

Jindal Power, backed by Indian billionaire Naveen Jindal, is set to acquire Gujarat-based thermal power company Bhadreshwar Vidyut Pvt Ltd for approximately INR 500 crore under the corporate insolvency process. Bhadreshwar Vidyut, previously known as OPGS Power Gujarat, operates two coal-based power plants in Kutch. The acquisition, approved by the Committee of Creditors (CoC), involves a resolution plan valued at nearly INR 470 crore. The transaction will be financed through internal accruals, with an additional investment of INR 25-50 crore allocated for capital expenditure. The acquisition is expected to be completed within the next six months, further strengthening Jindal Power's presence in the sector.Read more

05 Mar 2025

The Haryana Shehri Vikas Pradhikaran (HSVP), formerly known as the Haryana Urban Development Authority (HUDA), has introduced the Vivad Se Samadhan Yojana 2024 to address the issue of enhancement charges imposed on plot holders. The scheme allows applicants to settle their outstanding dues at a reduced rate without legal complications. Farmers whose land was acquired by HSVP receive additional compensation, which is later recovered from allottees as enhancement charges. Available across 140 sectors, the scheme provides a discount exceeding INR 550 crore, benefiting over 5,000 applicants. Revised enhancement notices have also been proposed for plot holders in Gurugram's Sectors 37C and 110A.Read more

05 Mar 2025

The Municipal Corporation of Delhi (MCD) has refuted claims circulating on social media regarding an exemption from property tax, clarifying that all property owners and occupiers must continue to pay as per existing regulations. The MCD said that property tax constitutes nearly a quarter of its revenue and is crucial for its operations, particularly amid financial constraints such as pending salaries and contractor dues. With outstanding dues exceeding INR 14,000 crore, MCD highlighted the necessity of financial stability for maintaining essential services. Property owners have been urged to file tax returns on a self-assessment basis and make payments by the end of March 2025 to avoid penalties.Read more

04 Mar 2025

According to a Deloitte India-RAI analysis, India's private consumption has increased from USD 1 trillion in 2013 to USD 2.1 trillion in 2024, at a CAGR of 7.2%. By 2030, consumer expenditure is expected to account for 60% of India's USD 7.3 trillion GDP, driven by rising incomes, better credit access, and digital commerce. Discretionary spending is migrating to luxury brands, travel, eating, and wellness, driving organised retail to USD 230 billion. This revolution is altering retail real estate in India, with a growing need for experience-driven malls, mixed-use complexes, and logistics hubs.Read more

04 Mar 2025

The Meerut Municipal Corporation (MMC) is aggressively pursuing unpaid house taxes, sealing 56 shops across the city to meet its financial targets. Aiming for INR 100 crore by year's end, they've already collected INR 60 crore. Action has been taken in areas like Kotla Bazaar and Shastri Nagar. A major challenge is the INR 19 crore owed by a government university, leading to legal action. The MMC's push for tax recovery is vital for funding city services and infrastructure, demonstrating their commitment to enforcing tax laws and ensuring financial stability.Read more

04 Mar 2025

Varanasi-Aurangabad NH-2 Tollway Private Limited (VAH) has successfully raised INR 2,630 crore (USD 316.3 million) through dollar-denominated bonds, marking the first such issuance by an Indian road concession entity. The bonds, maturing in nine years with a 5.9% interest rate, were heavily oversubscribed, attracting INR 27,500 crore in orders from 144 global investors. VAH, owned by ROADIS under PSP Investments, operates the 192 km six-lane highway. This milestone highlights investor confidence in India's infrastructure sector and will support refinancing, expansion, and maintenance, strengthening connectivity and economic growth along the Varanasi-Aurangabad corridor.Read more

03 Mar 2025

A recent EY report has highlighted that India must maintain tax buoyancy within the 1.2-1.5 range to achieve a growth rate of 6.5-7%. The report suggested that the government should focus on strengthening revenue mobilisation by increasing the tax-to-GDP ratio from an estimated 12% in FY26 to 14% by FY31. The report further noted that gross tax revenue buoyancy had moderated over the past three years, and maintaining it within the desired range would be crucial for GDP growth. The Indian economy is projected to grow between 6.3-6.8% in the next fiscal, with the current fiscal's growth estimated at 6.4%.Read more

03 Mar 2025

The Municipal Corporation of Chandigarh (MCC) will increase fire safety certificate charges by 10% from April 1, 2025, citing rising operational costs and the need for improved infrastructure. Fees will range from INR 6,615 to INR 14 per sq. meter, affecting commercial, educational, healthcare, industrial, and high-risk buildings, while smaller residential units remain exempt. Businesses express concerns over financial strain, while fire safety experts stress the need for stricter compliance amid increasing fire incidents. MCC plans to use the additional revenue to modernize fire stations, hire firefighters, and introduce an online portal for certificate applications, ensuring efficient enforcement.Read more

28 Feb 2025

The Reserve Bank of India (RBI) has revised the lending regulations for urban cooperative banks (UCBs) to provide them with greater flexibility while maintaining regulatory oversight. The definition of small-value loans has now been modified, with the maximum limit per borrower raised to INR 3 crore. Additionally, UCBs can exceed the 10% ceiling on aggregate exposure to real estate by an additional 5% for housing loans to individuals under priority sector classification. The RBI has also revised prudential limits on housing loans for different UCB tiers, with lending limits ranging from INR 60 lakh to INR 3 crore per dwelling unit. UCBs are required to ensure that at least 50% of their total loans comprise small-value loans by March 2026. These guidelines have been implemented with immediate effect.Read more