06 Aug 2025

Deloitte India has forecasted the country's GDP growth to fall between 6.4% and 6.7% for the current financial year, backed by strong internal demand, policy initiatives, and expanding global trade partnerships. While India's economic landscape continues to stand out in a volatile global environment, the consultancy emphasized the need for caution in navigating trade exposure and geopolitical tensions. Strategic trade agreements under negotiation with the UK, US, and European Union are expected to unlock new avenues for income generation, job creation, and market expansion.Read more

06 Aug 2025

Highway Infrastructure Ltd's initial public offering saw an enthusiastic response, getting fully subscribed within hours of opening. With total bids exceeding 11.97 crore shares well over the 1.60 crore shares on offer the IPO was subscribed 7.47 times. Retail investors and non-institutional investors led the charge, with strong demand also reflected in the anchor investor segment. The company has already secured INR 23.4 crore from anchor investors including HDFC Bank and Abans Finance Pvt Ltd. The issue, set to close later this week, is aimed at raising funds for working capital and corporate needs.Read more

06 Aug 2025

Ummeed Housing Finance Pvt Ltd (UHFPL), based in Gurugram, has secured INR 250 crore from British International Investment (BII), the UK government's development finance arm. The funding will expand access to long-tenure, low-cost housing loans for India's low-income population, with a focus on underserved and women borrowers. The investment, classified as a 2X initiative, is expected to benefit around 3,000 women and boost financial inclusion. UHFPL, which manages assets over INR 2,400 crore and has served 33,000+ customers, aims to improve homeownership and living standards. Both organisations emphasised alignment with India's 'Housing for All' mission.Read more

06 Aug 2025

Miraj Cinemas has launched a premium three-screen multiplex at the site of the former Akash Cinema in Azadpur, North Delhi. Once a well-known 1000-seater single-screen theatre, the space has been completely transformed to offer 427 luxury seats, state-of-the-art technology, immersive interiors, and gourmet dining. With Dolby sound, 3D capability, and designer décor inspired by Art Deco, the venue blends nostalgia with a contemporary cinematic experience. The multiplex marks Miraj Cinemas' fourth property in Delhi and reintroduces a landmark destination to the city's filmgoers with upgraded luxury and hospitality.Read more

06 Aug 2025

The real estate sector remains optimistic ahead of the Reserve Bank of India's upcoming Monetary Policy Committee (MPC) decision. After benefitting from a cumulative 100 basis point reduction in repo rates over the past few reviews, developers and industry experts expect the RBI to continue with a supportive stance. Many believe that with inflation under control and consumer sentiment remaining high, another modest rate cut could further strengthen housing demand and affordability. Even if rates remain unchanged, the prevailing low-interest environment is already fuelling momentum across residential markets.Read more

06 Aug 2025

Chhatrapati Sambhajinagar Municipal Corporation (CSMC) has expanded its property tax amnesty scheme 'Shasti Se Azaadi' to cover commercial, industrial, and other property types, in addition to residential ones. Taxpayers who clear all outstanding dues in a single payment by mid-August will receive a 95% waiver on penalty charges, while those paying between mid-August and mid-September will get a 75% waiver. The revised scheme is expected to help CSMC improve its revenue collection, which stood at INR 157.7 crore in property tax and INR 26.3 crore in water tax in the last financial year.Read more

06 Aug 2025

Tata Capital has updated its draft papers for an upcoming IPO that could raise up to USD 2 billion, valuing the non-banking financial company at around USD 11 billion. The offering comprises a fresh issue of 21 crore equity shares and an Offer For Sale (OFS) of 26.58 crore shares. Tata Sons and International Finance Corporation will be selling 23 crore and 3.58 crore shares respectively under the OFS. The IPO proceeds will be used to strengthen the company's Tier-1 capital base and support future lending requirements.Read more

06 Aug 2025

Haryana RERA has ruled against Shine Buildcon for a four-year delay in handing over a commercial unit at '70 Grandwalk' Sector 70, booked in 2014. Possession, due by mid-2019, was only offered in late 2023. The developer's defence citing demonetisation, GST, and COVID-19 was rejected as insufficient. RERA ordered Shine Buildcon to pay 11.1% annual interest on the buyer's payments, from the due possession date to actual offer or two months post-occupation certificate-whichever is earlier. The amount must be settled within 90 days, and possession delivered within 30 days thereafter. The builder is barred from imposing extra charges beyond the original agreement.Read more

06 Aug 2025

Ludhiana's one-time settlement scheme for property tax defaulters has been extended until mid-August, allowing payments of outstanding dues without penalty or interest. Initially launched in May, the scheme received a lukewarm response but saw a spike in participation closer to the original deadline. The extension follows increasing public footfall and growing collections, which have reached around INR 15 crore so far. The total property tax collection for the current fiscal has touched nearly INR 40 crore. Suvidha Kendras have been operating on weekends to handle the rising number of taxpayers.Read more

06 Aug 2025

MPIDC has sanctioned Phase II of the Ujjain IT Park, with a developer already appointed. Aimed at fostering a vibrant tech ecosystem, the expansion follows strong interest in Phase I, which is under construction and has attracted 20 IT firms from Indore, Ujjain, and Bhopal. Phase I features incubation centres, shared research labs, and plug-and-play offices, and is expected to be completed by end-2026, creating 500 direct and 1,000+ indirect jobs. Phase II will add more space and infrastructure for innovation, training, and networking. Officials believe these developments will position Ujjain as a cost-effective, modern tech hub alternative to larger cities.Read more

05 Aug 2025

The Haryana Real Estate Regulatory Authority (HRERA) has directed Neo Developers to refund INR 42.5 lakh to Atombridge Networks along with 11% annual interest. The dispute arose over the booking of a restaurant unit in the Neo Square commercial project at Sector 109, Gurugram. Although the builder cancelled the unit due to payment delays, HRERA found that no builder-buyer agreement was signed. While the cancellation was upheld, the authority stated the builder must return the amount after deducting 10% as earnest money, citing procedural lapses.Read more

05 Aug 2025

Godrej Properties is planning to raise INR 20 billion (USD 230 million) through its largest-ever corporate bond issue. The three- to five-year bonds will be issued shortly after the Reserve Bank of India's policy review, aiming to benefit from better market yields. This will push the company's total bond fundraising since September last year to INR 45 billion. The funds are likely to be used for land acquisitions and residential development, including a newly bought 50-acre plot in Chhattisgarh.Read more

05 Aug 2025

LIC Housing Finance posted a 4.5-5% rise in net profit to INR 1,364 crore for Q1 FY26, backed by strong individual home loan demand. Total income rose 7% to INR 7,250 crore, while net interest income gained 4%. Home loan disbursements grew 3% to INR 11,247 crore, but project loans fell sharply. The loan book expanded by 7% to INR 3.09 lakh crore. Asset quality improved, with gross NPAs down to 2.62%. The firm also reduced lending rates, waived processing fees, and launched a new website to boost digital engagement. Marking 36 years of operations, LIC HFL now eyes higher-yield credit segments for future growth.Read more

05 Aug 2025

Brookfield India Real Estate Trust (BIRET) has reported a 13 percent year-on-year increase in its net operating income (NOI) for the quarter ending in June. This growth, driven by strong leasing and a 22 percent re-leasing spread, has pushed the company's committed occupancy to 89 percent. The REIT has also approved a preferential issue of INR 1,000 crore to fund further growth and is in talks to acquire Grade-A properties from its sponsor group in Bengaluru and Chennai. This financial performance and expansion strategy highlight the REIT's commitment to growing its portfolio and enhancing long-term unitholder value.Read more

05 Aug 2025

A recent audit report by the Comptroller and Auditor General (CAG) has exposed major irregularities in the registration and welfare disbursement for construction workers in Delhi during the previous government's tenure. Despite a welfare corpus exceeding INR 3,500 crore accumulated between 2019 and 2023, the spending on actual welfare schemes remained alarmingly low. The report also uncovered issues such as incomplete and duplicate worker data, suspected ghost registrations, and discrepancies in cess collection records.Read more

05 Aug 2025

Knowledge Realty Trust (KRT), a REIT backed by Sattva Group and Blackstone, raised INR 1,620 crore from anchor investors ahead of its INR 4,800 crore IPO launch. Units were allotted at INR 100 each, with participation from LIC, Axis MF, Amundi, Tata MF, and others. KRT also secured INR 1,200 crore from institutional investors and raised INR 1,400 crore earlier in June. The REIT holds 46 million sq ft across key cities like Mumbai, Bengaluru, and Hyderabad, with flagship assets including One BKC and Knowledge City. With a gross asset value of INR 62,000 crore, KRT aims to grow through third-party acquisitions and joins India's growing REIT landscape.Read more

05 Aug 2025

In Bengaluru, several flat owners received inflated property tax demands due to errors in their e-khata applications. Staff at BangaloreOne centres reportedly entered identical figures for built-up and parking areas, ignoring actual measurements in sale deeds. As a result, Bruhat Bengaluru Mahanagara Palike issued backdated tax notices running into tens of thousands per year. Homeowners said the system failed to verify entries properly and cited an inoperative online objection portal during the response period. The incident highlights the need for stronger quality checks, document-based validation, and a functional redressal process to avoid penalising residents for administrative lapses in property data handling.Read more

05 Aug 2025

India's top eight cities now host 993 million sq ft of office space valued at USD 187 billion, per Knight Frank, with the figure expected to cross 1 billion sq ft this quarter. Bengaluru leads with 229 million sq ft, followed by Delhi-NCR and Mumbai. Grade A offices make up 53% of total stock, reflecting a shift in workspace demand. Experts note the rising role of Global Capability Centres and the growing need for sustainability and employee wellbeing. Shruti Singh of Carbon Guardians stressed integrating EHS principles and designing performance-based workplaces as India enters a new phase of office growth.Read more

05 Aug 2025

India's real estate sector has raised nearly INR 400 billion via approximately 30 IPOs since 2021, according to Colliers. In the current year alone, seven IPOs have mobilised nearly INR 76 billion. During this period, bank lending to the sector has doubled, while gross NPAs in construction loans have dropped from 23.5% to just over 3%. Profit margins and balance sheet health among leading developers have also improved sharply. The sector is now attracting equity capital across newer formats such as co-working spaces, hospitality, and SM-REITs, marking a broader investor interest in real estate.Read more

05 Aug 2025

The Securities and Exchange Board of India (SEBI) has proposed major changes to the listing framework for large initial public offerings (IPOs) to improve price discovery. The proposal, outlined in a consultation paper yesterday, suggests a two-phase trading approach for IPOs with an issue size over INR 10,000 crore. Under this plan, only institutional investors would trade for the first two days, with retail investors allowed to enter the market from the third day onwards. SEBI believes this will allow for a market-driven price to be established, protecting retail investors from volatility and potential losses. The regulator is accepting public comments on the proposal until August 25.Read more