27 Feb 2025

Indian firms are expected to post 7-8% revenue growth in the March quarter of the current fiscal year, driven by a pick-up in rural demand and higher government expenditure, says rating agency ICRA. The growth comes on the back of a consistent revival in earlier quarters, with revenue growing 6-7% in the December 2023 quarter. Operating profit margins are also anticipated to remain at 18.2-18.4%, as has been the case in recent months. Private capital spending, however, is still cautious because of geopolitical tensions, although investment in high-growth areas such as electronics, semiconductors, and EVs is anticipated to persist under government-initiated PLI schemes. Rural demand, which was subdued in early 2023, is expected to stay robust in the first half of 2025, led by healthy kharif crop production and supportive rabi season conditions. A well-distributed monsoon in 2025 will be critical in maintaining this growth.Read more

27 Feb 2025

The Municipal Corporation of Delhi (MCD) has introduced a house tax waiver scheme allowing residents to clear their 2024-25 dues to receive full forgiveness of past outstanding taxes. Properties up to 100 sq yards get complete exemption, while those between 100-500 sq yards receive a 50% reduction. Additionally, 1,300 housing societies will now get a 25% rebate. The initiative aims to boost tax compliance following a decline in collections last year. MCD is also integrating tax payments with utility services and geotagging properties to modernize the system and enhance efficiency, ensuring better revenue generation and civic development.Read more

26 Feb 2025

Trichy Corporation has simplified property tax payments by introducing a Unified Payments Interface (UPI) option, providing a convenient alternative to the previous net banking method via the Tamil Nadu Urban eSevai app. Residents can now pay property tax, water charges, and other fees directly from their mobile devices. This change aims to increase revenue collection before the financial year ends and enhance tax compliance. In addition to the UPI option, payments can still be made in person at tax collection offices across the city. The move supports the government's push for digital transactions and improved financial management.Read more

26 Feb 2025

Ahmedabad is set to implement new waste management regulations from October, requiring large housing societies and commercial complexes to manage their waste independently. Establishments generating over 100 kg of waste daily will be classified as bulk waste generators (BWGs) and must adopt decentralised waste processing methods. The initiative aims to reduce Ahmedabad Municipal Corporation's (AMC) waste collection costs and streamline disposal. Simultaneously, AMC has intensified property tax recovery efforts, sealing thousands of properties and reclaiming crores in unpaid dues. Additionally, the corporation has cracked down on illegal constructions and encroachments while offering rebates for early tax payments to incentivise compliance.Read more

26 Feb 2025

The Municipal Corporation of Delhi (MCD) has announced that property tax offices will remain open on Saturdays until March 31, 2025, operating from 10 a.m. to 5 p.m. This move aims to facilitate timely tax payments. MCD has also introduced an online payment system via its website and mobile app, with user manuals available for guidance. Starting April 1, 2025, taxpayers must file an online Property Tax Return (PTR) before making payments. A tax calculator on the MCD website helps determine tax amounts, and rebates are available for select categories.Read more

26 Feb 2025

Pune's real estate market, particularly in Pimpri-Chinchwad, is witnessing strong investment activity, with developers expanding into high-growth suburbs. UC Punawale Skyscrapers LLP recently acquired a land parcel in Punawale for INR 129 crore, reflecting confidence in the region's residential demand. Areas like Punawale, Ravet, and Tathawade are experiencing rising property values due to affordability, connectivity, and proximity to commercial hubs. Key transactions in Ravet and Tathawade reinforce their potential, while Mahalunge and Baner are emerging as premium destinations. With continued developer interest and infrastructure expansion, Pune's suburban real estate market is poised for sustained growth.Read more

25 Feb 2025

Awfis Space Solutions has disclosed in a BSE filing that its bank accounts with HDFC Bank and ICICI Bank were provisionally attached by the Joint Commissioner of State Tax in Mazgaon, Mumbai. The move refers to a purported excess input tax credit (ITC) violation of INR 4.42 crore that was availed in October 2024. The firm revealed that though this ITC was originally reversed in FY 2023-24, it was recovered in line with a Supreme Court order. But after changes in the CGST Act in 2025, the firm has now opted to reverse the ITC once again, with no financial implication on its operations. The board also separately approved the grant of 1,44,382 employee stock options under its ESOP scheme.Read more

25 Feb 2025

SEBI has proposed a new framework to enhance fundraising for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). The guidelines include lock-in provisions requiring 15% of units allotted to sponsors to remain locked for three years and the rest for one year. Additional measures for fast-track follow-on offers (FPOs) include mandatory in-principle stock exchange approvals, a minimum public unitholding of 25%, and stricter disclosure norms aligned with public issue standards. SEBI's continuous efforts to refine regulations reflect its commitment to fostering transparency, boosting investor confidence, and aligning with global practices.Read more

25 Feb 2025

Chandigarh is preparing for an increase in collector rates for various property categories, including agricultural and residential segments, with adjustments expected between 8% and 10%. A meeting chaired by Deputy Commissioner Nishant Kumar Yadav discussed the revisions in line with the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013. A draft of the new rates will be released to the public by March 5, 2025, and feedback can be submitted until March 20. The final rates will be announced by March 25 and take effect on April 1, 2025. The revision, the first since 2021, reflects the fluctuating real estate market in the city, driven by ongoing urban development and infrastructure projects. These changes will have implications for property taxes, transaction costs, and overall market activity.Read more

25 Feb 2025

The Reserve Bank of India (RBI) reported a 42.8% rise in NRI remittances, reaching USD 13.33 billion between April and December 2024. This surge pushed outstanding NRI deposits to USD 161.8 billion, driven by strong inflows into FCNR(B), NRE, and NRO accounts. FCNR(B) deposits saw the highest growth, nearly doubling to USD 6.46 billion. The RBI's move to raise FCNR(B) interest rate caps has made these accounts more attractive, bolstering foreign exchange reserves and rupee stability. The trend highlights NRIs' growing confidence in India's banking system and their crucial role in economic growth and financial stability.Read more