05 Jul 2025

Punjab registered a 44.44% growth in net Goods and Services Tax (GST) collections in June 2025, reaching INR 2,379.90 crore, as stated by Finance Minister Harpal Singh Cheema. This places Punjab above the national average in growth. The state's net GST collection for Q1 FY26 reached INR 6,830.40 crore, achieved despite ongoing military conflict. Cheema also highlighted increased field enforcement, leading to the uncovering of two major GST fraud cases involving over INR 180 crore in tax evasion. The report also detailed the state's efforts to manage legacy debt amidst rising fiscal obligations.Read more

05 Jul 2025

The Lucknow Development Authority (LDA) has served a final notice to nearly 100 defaulters who have failed to clear outstanding dues totalling around INR 100 crore some pending for over 27 years. These include allottees of flats and plots across prominent schemes like Gomtinagar Extension, Kanpur Road, Sitapur Road and Kursi Road. Many of these are under affordable housing categories. The authority has warned that properties will be cancelled and registration amounts forfeited if payments are not cleared immediately. This move follows earlier efforts to auction nearly 5,000 unsold commercial properties and identify top defaulters with dues exceeding INR 460 crore.Read more

05 Jul 2025

The Indian Renewable Energy Development Agency (IREDA) has reported strong growth in its financial indicators for the June quarter. Loan sanctions increased by 29% to INR 11,740 crore, while disbursements rose 31% to INR 6,981 crore. The state-owned agency's outstanding loan book stood at INR 79,960 crore on June 30, a 27% increase. These figures reflect a rise in demand for renewable energy financing, underscoring IREDA's role in India's clean energy transition and its ability to provide funding solutions.Read more

05 Jul 2025

NTT recently submitted a draft prospectus for its NTT DC REIT IPO on the Singapore Exchange. The REIT will include six data centre facilities across the U.S., Austria, and Singapore, with a combined value of around USD 1.6 billion. Expected to fetch up to USD 1 billion, the listing is set to be among Singapore's largest and has already attracted major backers, including GIC, AM?Squared, and Viridian. The move aligns with Singapore's revived equity market, which recently saw a surge in IPO activity boosted by policy incentives.Read more

04 Jul 2025

Brigade Hotel Ventures Ltd, the hospitality arm of Bengaluru-based Brigade Enterprises, has raised INR 126 crore in a pre-IPO funding round from 360 ONE Alternates Asset Management. This investment, made at INR 90 per share, gives 360 ONE a 4.74% stake ahead of the company's planned INR 900 crore initial public offering. The proceeds will primarily go towards debt reduction and land acquisition, while also supporting the firm's inorganic expansion strategy. With a robust portfolio of 1,604 rooms spread across major South Indian cities and GIFT City, the company is seen as a significant player in the hospitality space.Read more

04 Jul 2025

Institutional investments in Indian real estate saw a sharp 33% dip in the April-June quarter, touching USD 1.69 billion, primarily due to a cautious stance from global investors amid economic and geopolitical uncertainties. Data from Colliers India revealed that foreign investment nearly halved, while domestic participation surged by 32%. Notably, domestic capital now accounts for 48% of total real estate investments in H1 2025, up from 16% in 2021. This shift in funding dynamics has helped partially offset the decline in foreign institutional inflows and maintain a stable investment environment.Read more

04 Jul 2025

The Supreme Court has allowed M3M Group's plea to substitute property provisionally attached by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act, 2002. The ruling came after M3M challenged a Punjab & Haryana High Court order that had refused the substitution. The substitution is subject to nine conditions, including establishing clear title and ensuring assets that are free from encumbrances. M3M Group agreed to these terms, marking a step in legal proceedings concerning attached properties in real estate.Read more

04 Jul 2025

Leasing of office spaces for Global Capability Centres (GCCs) in India rose by 24% to 31.8 million sq ft across seven major cities last fiscal year. GCCs accounted for 42% of pan-India office absorption in 2024-25. This growth, detailed in a Vestian report, is driven by India's skilled talent, cost benefits, infrastructure development, and favorable policies. Bengaluru led in GCC office space absorption, followed by Mumbai. GCCs are expected to further increase their market share, reflecting India's appeal as a global operations hub for conglomerates.Read more

04 Jul 2025

Lodha Developers Ltd. has been directed by the Supreme Court to deposit INR 520.80 crore as security in a case involving V Hotels Ltd, which Lodha acquired through an insolvency process in 2024. This matter relates to Enforcement Directorate (ED) proceedings against V Hotels' former promoter, concerning transactions allegedly routed through the company before insolvency. The Bombay High Court previously ruled that proceedings could not continue against V Hotels due to the timing of the alleged transactions relative to the insolvency. Lodha expects a swift Supreme Court hearing, anticipating the deposit's release, after which no further claims will stand against V Hotels' assets.Read more

04 Jul 2025

Property transactions in Lucknow are about to get costlier as the district administration has proposed a substantial revision in circle rates base rates used to determine property registration value. While the average increase is pegged at 15%, certain high-demand urban areas could see hikes of up to 25%. Rates for multi-storey construction and commercial land are also being revised upward, with a clear aim to align them more closely with market realities. The proposed hike is currently open for public feedback and, once finalized, will come into effect from the beginning of August. The last revision in circle rates was done nearly a decade ago.Read more

03 Jul 2025

Mumbai's redevelopment sector, a serious complaint has been filed against Sudhanshu Infrastructure and its representative Abhayjit Dubey for unauthorized construction and intimidation in the Aniraj Tower redevelopment project in Bhandup West. The Slum Rehabilitation Authority (SRA) accused the builder of illegally constructing a hall on the eighth floor, violating fire safety norms, and distributing commercial units without obtaining occupation certificates. The situation further escalated when a society member who flagged these violations was allegedly assaulted, leading to a second FIR. The case has revived concerns about regulatory lapses and resident safety in ongoing redevelopment schemes.Read more

03 Jul 2025

Tamil Nadu has introduced a 'deemed NOC' system via the CMDA's single-window portal to speed up high-rise building approvals. If departments don't act within a structured 30-day timeline, NOCs are automatically approved. This digital platform integrates 11 departments, from Fire Services to the Airports Authority, streamlining previously delayed processes. Since CMDA's portal launch in 2022, monthly approvals have doubled, but NOC delays persisted. The new mechanism tackles this, while ensuring safety through random inspections. Industry leaders, including CREDAI, have welcomed the reform, calling it a game-changer for transparency and project speed. This move aligns with Tamil Nadu's broader ease-of-business push in real estate development.Read more

03 Jul 2025

Norges Bank has fully exited its position in Raymond Realty through a block deal worth INR 42 crore, just days after the company made its stock market debut. Simultaneously, Raymond Ltd witnessed a flurry of institutional trades totalling approximately INR 221 crore. These developments come in the wake of the group's recent demerger, where shareholders were allotted one share of Raymond Realty for every Raymond Ltd share held. The twin trades reflect how investors are actively reshaping their positions in both entities as the market digests the post-listing dynamics.Read more

03 Jul 2025

To simplify trading operations and reduce post-trade complexities for institutional investors and market participants, the Securities and Exchange Board of India (SEBI) has made it mandatory to issue a Common Contract Note (CCN) with a single volume weighted average price (VWAP). The new system, which came into effect starting past week, aims to bring uniformity in trade reporting by consolidating trades across multiple exchanges into one harmonized document. The reform is expected to cut down operational hassles, lower costs, and support the Clearing Corporation (CC) interoperability framework introduced in 2019.Read more

03 Jul 2025

India's gross GST collections for June rose by 6.2% year-on-year, reaching over INR 1.84 lakh crore-up from INR 1.73 lakh crore in June last year. This follows May's INR 2.01 lakh crore and April's record INR 2.37 lakh crore. Domestic transactions contributed INR 1.38 lakh crore, a 4.6% rise, while imports surged by 11.4% to INR 45,690 crore. State GST collections (INR 43,268 crore) outpaced Central GST (INR 34,558 crore), and Integrated GST totalled INR 93,280 crore. Cess collections stood at INR 13,491 crore. Refunds rose 28.4% to INR 25,491 crore, resulting in a net GST revenue of INR 1.59 lakh crore-marking a 3.3% growth over June last year.Read more

03 Jul 2025

India's rising presence in the global economy received a major boost, with a recent SBI Research report revealing that the country contributed 6.7% to the world's incremental GDP in FY25. Notably, the State Bank of India (SBI) alone accounted for 1.1% of the global GDP rise, thanks to its massive asset base and domestic economic influence. The bank added USD 44 billion to the global economy, with its own Gross Value Added (GVA) growing 5% year-on-year. The report underscores SBI's pivotal role in India's financial sector and its expanding impact on global economic dynamics.Read more

03 Jul 2025

Trichy City Corporation is facing a INR 121 crore revenue deficit this fiscal year, largely due to vacant or incomplete commercial complexes at Singarathope, Devadhanam, and Palakkarai. These facilities were meant to generate rental income and reduce reliance on taxes but have failed to attract tenants. The Singarathope complex has been empty for over a year, while Palakkarai remains unfinished. Officials admit to lacking a structured leasing or marketing strategy. With these assets idle, the city struggles to fund civic services. Experts warn that in mid-sized cities, public infrastructure must compete with private players, making proactive planning and tenant engagement crucial.Read more

03 Jul 2025

Lucknow Municipal Corporation (LMC) reported that more than 3 lakh homeowners cleared their house tax dues during the April-June quarter, boosting collections to INR 202.4 crore. A 10% rebate on online payments spurred this trend, though around 4.33 lakh properties remain unregistered. The rebate period has shifted now covering both house tax and user charges paid online until the end of this month. With persistently high defaulter numbers, LMC is tightening recovery efforts employing interest penalties and potential account actions. These efforts build on recent reforms like GIS surveys and weekend tax collection aimed at improving compliance.Read more

03 Jul 2025

Ghaziabad Municipal Corporation (GMC) has repealed a controversial property tax hike introduced on April 1, 2025, after facing public backlash and legal scrutiny. The increase had tripled or quadrupled tax rates, sparking opposition from resident and trader groups. Mayor Sunita Dayal convened a special board meeting where the hike was formally canceled. However, the decision awaits approval from the state government and the Allahabad High Court, where a related case is ongoing. The court had earlier received a petition citing rule violations and unfair uniform tax slabs. GMC has paused issuing revised notices and plans property inspections to resolve tax anomalies.Read more

02 Jul 2025

Jaipur Municipal Corporation-Greater recently introduced multiple convenient channels for residents to pay urban development (UD) tax, including UPI via QR codes on bills, rotating in-person camps, and a door-to-door collection service. The initiative aims to boost collections and ease taxpayer convenience. Alongside resolving any objections promptly, the civic body plans to repeat outreach efforts next month. Supported by leadership and local representatives, this effort reflects the city's drive toward streamlined municipal revenue processes.Read more