Mumbai News Desk

12 Feb 2026

MahaRERA has directed the developer of a Goregaon residential project to pay interest to two homebuyers for delayed possession and has imposed a penalty of INR 2 lakh for violating provisions of the Real Estate (Regulation and Development) Act. The authority found that possession was not offered on time despite the occupation certificate being obtained. It rejected the promoter's arguments related to pandemic-related delays and redevelopment issues, holding that buyers are entitled to statutory interest from January 2020 until actual handover of the flats.Read more

12 Feb 2026

Uttar Pradesh's Economic Survey shows a sharp expansion in the state's budget and capital spending over the past nine years, alongside improved fiscal indicators. Health and education allocations have increased, with better medical infrastructure, higher institutional deliveries and expanded medical colleges. Tourism arrivals have grown significantly, while agriculture output and value addition have also improved. The survey highlights steady employment in food processing and agriculture, supported by controlled debt levels and a balanced fiscal position, reflecting sustained public spending across key sectors.Read more

12 Feb 2026

Maharashtra has secured a higher allocation under the Union Budget, with INR 89,855.80 crore earmarked for tax devolution in 2026&27, according to Union Minister Nitin Gadkari. The state has seen a steady rise in central support since 2014, alongside major investments in metro rail, railways and station redevelopment. Ongoing projects include Nagpur Metro expansions, railway works worth INR 1.70 lakh crore and redevelopment of 128 stations. The budget also focuses on reducing logistics costs and boosting infrastructure-led growth.Read more

12 Feb 2026

WeWork India Management Ltd has leased 46,000 sq ft of managed office space to Turner International India at its Airoli centre in Mumbai, accommodating more than 650 desks. The space has been launched as a fully managed office, underscoring continued occupier preference for flexible and plug-and-play workplace formats. Turner International India is the Indian arm of Turner Construction Company, a North America-based construction services firm, and the transaction highlights the role of managed workspaces in supporting project-driven and scalable operations. The deal also reflects the growing appeal of the Navi Mumbai & Thane office corridor, where Airoli has emerged as a cost-efficient alternative to traditional business districts, supported by improving connectivity and a widening commercial base. For WeWork India, the leasing reinforces steady demand from multinational occupiers seeking operational agility without long-term real estate commitments.Read more

12 Feb 2026

Mysuru City Corporation (MCC) achieved its highest-ever property tax collection at 88.4% for the previous financial year, surpassing the earlier maximum of 79%. This improvement followed several initiatives, including listing major defaulters publicly, engaging women self help groups for collections, door-to-door drives, SMS reminders, and offering a 5% early payment rebate. The MCC now aims for full property tax recovery by the end of the current financial year. With around 1,83,000 properties under its jurisdiction, property tax continues to remain a major revenue source for the corporation's civic services and development projects.Read more

Mumbai News Desk

12 Feb 2026

Mumbai's residential property market achieved its highest-ever stamp duty collections for January, led by larger and high-value homes, even as total registrations declined compared to last year. The surge reflects stronger demand in mid-to-premium segments and growing end-user confidence, supported by ongoing infrastructure development and stable economic conditions. Suburban areas, especially western and central suburbs, continued to dominate registrations. Homes sized up to 1,000 sq ft remained the most popular, while luxury homes above INR 5 crore also saw increased interest, signaling a structural shift in buyer preferences.Read more

11 Feb 2026

Rajasthan is preparing to present its state Budget for 2026-27, which will be led by Deputy Chief Minister and Finance Minister Diya Kumari. This will mark her third consecutive Budget, aiming to cover all sectors and promote inclusive development. The state Assembly session began earlier this year with the Governor's inaugural address. Leaders have indicated that the Budget will focus on youth, farmers, women, and general citizens, reflecting the Bhajanlal government's continued emphasis on balanced growth and policies that address the needs of all sections of society.Read more

11 Feb 2026

The Andhra Pradesh government has waived stamp duty and registration fees exceeding INR 20 crore to support Bharat Petroleum Corporation Ltd's (BPCL) greenfield refinery and petrochemical complex near Ramayapatnam Port in Nellore district. The exemption covers the transfer of more than 600 acres from Andhra Pradesh Maritime Board to APIIC and then to BPCL. Under the state's Industrial Development Policy 4.0, BPCL is set to invest nearly INR 97,000 crore over several years. The project will receive multiple financial incentives, including capital subsidy and GST refunds, making it one of the state's largest industrial investments.Read more

11 Feb 2026

Knowledge Realty Trust has received bids worth INR 10 billion for bonds maturing in just over three years, offering a 7.5378% coupon. The bonds hold AAA ratings from Crisil and ICRA, and the issue includes a base allocation plus a greenshoe option. Other notable corporate bond deals included Cholamandalam Investment and Finance Company's 19-month AA+ rated bonds and Tata Capital's reissued AAA-rated 7.95% bonds. The trend indicates sustained investor interest in mid-term, highly rated corporate debt, reflecting confidence in stable returns and active participation in India's debt market.Read more

11 Feb 2026

IIFL Capital Services Ltd has received approval from SEBI to establish a wholly owned subsidiary at GIFT IFSC. The new entity will operate as a separate legal unit and carry out permitted financial and capital market activities, subject to further regulatory approvals where needed. The move is aimed at expanding the firm's international platform, facilitating cross-border investments and offering global investors access to Indian markets. IIFL Capital currently manages assets worth about USD 28 billion and has a presence across major global financial centres.Read more