18 Feb 2025

The Nashik Municipal Corporation (NMC) has reinstated the industrial slab for property tax, reducing rates from INR 44 to INR 13.2 per sq. mt per month for industrial units established or expanded after April 2018. This decision reverses a 2018 policy that imposed commercial tax rates, providing relief to around 1,000 industries. The move is expected to lower operational costs, attract investment, and boost employment, making Nashik more competitive with other industrial hubs. Additionally, NMC has approved infrastructure projects worth INR 15 crore. These measures collectively support Nashik's industrial growth and broader economic development.Read more

18 Feb 2025

Tamil Nadu's real estate sector continues to be a major revenue driver, with the registration department recording its second-highest daily collection this fiscal year at INR 237.98 crore. The surge, driven by 23,421 document registrations, was led by Chennai (INR 89 crore), followed by North Chennai, which showed unexpected growth. Cultural factors also played a role, with increased registrations on an auspicious day. Infrastructure developments and investor interest are reshaping market trends. With strong contributions from Chengalpet and Coimbatore, Tamil Nadu's real estate market remains dynamic, poised for sustained growth through strategic planning and digital integration.Read more

17 Feb 2025

Awfis Space Solutions posted a net profit of INR 151.79 million in Q3 FY25, marking a turnaround from a INR 62.89 million loss in the same quarter last year. The company's consolidated income surged 46.81% to INR 3,314.66 million, fueled by rising demand for flexible workspaces. Since March 2024, Awfis has added 27,000 seats and opened 33 centers, bringing its total to 120,000 seats across 193 locations. With 73% of new additions under the Managed Office model, Awfis plans to expand to 135,000 seats by March 2025. Its asset-light strategy and focus on technological enhancements position the company for sustained growth in the evolving workspace sector.Read more

17 Feb 2025

NDR InvIT Trust, India's first Perpetual Warehousing and Industrial Parks InvIT, reported a NAV of INR 127.26 per unit and a Q3 FY25 distribution of INR 1.75 per unit. The trust grew revenue by 5.65% and EBITDA by 8.86% to INR 715.55 million, maintaining a 98% occupancy rate across 19.01 MSF of assets. It is acquiring 2.01 MSF in Bengaluru, Hyderabad, Pune, and Surat. NDR also issued India's first Sustainability Linked Bonds, refinancing debt with IFC and NaBFID participation. The record date for distribution is February 12, 2025, reinforcing its commitment to investor returns.Read more

17 Feb 2025

The Bengal Silicon Valley IT Hub in New Town, originally a 100-acre project, has doubled to 200 acres due to high demand from IT firms. 38 companies have received Letters of Intent, with nine already under construction. Major investors include Reliance, Airtel Nxtra, ST Telemedia, and NTT, alongside Infosys, which secured 50 acres. The project aims to generate 75,000 jobs, strengthening Kolkata's IT sector. With 91.8% occupancy across Bengal's 22 IT parks, the state is boosting infrastructure and connectivity to support continued growth, solidifying its position as an emerging tech hub.Read more

17 Feb 2025

The Nashik Municipal Corporation (NMC) will raise development charges for builders and developers from INR 105 per sq. m to INR 350 per sq. m, effective April 1, 2025, marking the first hike in 15 years. Additionally, a 10% annual increase will be implemented moving forward. The decision aims to generate INR 1,500 crore to fund essential infrastructure projects and the upcoming Kumbh Mela 2026-27. While builders fear rising housing costs, the NMC assures that the funds will enhance the city's roads, water supply, and sanitation as Nashik undergoes rapid urban expansion.Read more

17 Feb 2025

The Indian stock market has seen sharp corrections since September 2024, impacting indices like the Nifty 50 and Sensex. While retail investors remain cautious, institutional investors are shifting focus to long-term growth sectors, particularly real estate. According to ANAROCK, QIP fundraising hit a record INR 1,41,482 crore in 2024, up 75% from INR 80,816 crore in 2020, with real estate attracting significant funding after a zero QIP year in 2023. Despite global economic uncertainties, real estate remains a key investment hedge, with QIP activity expected to support developer expansion, land acquisitions, and debt refinancing in 2025.Read more

17 Feb 2025

Shriram Properties (SPL) reported a 29.82% decline in its net consolidated profit for the quarter ending December 31, 2024, with profit after tax at INR 12.97 crore compared to INR 18.48 crore in the same period last year. The company's total income also saw a decrease of 25.23%, amounting to INR 179.87 crore. Despite these short-term setbacks, SPL remains optimistic, citing strong project pipelines and upcoming launches in Pune and Bengaluru. The company recorded capital gains of INR 5.09 crore and interest earnings of INR 35.93 crore from divesting its stake in its subsidiary, SPL Shelters. Additionally, SPL secured development rights for three new projects in Bengaluru and Chennai, with a development potential of 1.1 million sq ft. The company's net debt was reduced to INR 401 crore, with a net debt-equity ratio of 0.31:1.Read more

14 Feb 2025

Keystone Realtors Ltd recorded a significant 50% decline in net profit for the third quarter, amounting to INR 15.07 crore, compared to INR 30.22 crore in the same period last year. Its total income also decreased to INR 485.82 crore from INR 533.33 crore. Keystone, a major real estate developer in the Mumbai Metropolitan Region (MMR), has completed 36 projects and is working on 15 ongoing and 26 upcoming developments. With over 25 million square feet delivered, the company has a robust pipeline of 44 million square feet under development.Read more

14 Feb 2025

The Greater Hyderabad Municipal Corporation (GHMC) faces a severe financial crunch as property tax arrears from residents and government departments have piled up to INR 5,500 crore. Despite being the primary source of revenue, nearly 7 lakh property owners have failed to clear dues over the past eight years. The civic body has issued 4 lakh distress warrants to defaulters but is hampered by the absence of a one-time settlement scheme from the state government. Government departments, including the secretariat and South Central Railway, owe INR 4,400 crore, with dues dating back to 2001. GHMC aims to recover pending taxes through door-to-door collection drives, legal measures, and frequent reminders.Read more