29 May 2025

Star Housing Finance Ltd. and Vastu Housing Finance Corporation Ltd. have announced a strategic co-lending partnership. The collaboration targets supporting over 5,000 first-time home buyers, primarily in semi-urban and rural regions. By leveraging Star HFL's loan origination capabilities and Vastu HFC's capital, technology, and risk-sharing framework, the alliance aims to deepen financial inclusion for economically weaker and low-income groups, traditionally underserved by formal credit systems. This move aligns with the booming affordable housing sector in India, where demand is high due to significant urban and rural housing deficits. With the affordable housing market projected to grow substantially, this partnership is set to accelerate homeownership access and scale impact in Tier 2, Tier 3, and rural markets.Read more

29 May 2025

Prayagraj Municipal Corporation launched QR code stickers to streamline and accelerate house and water tax collection throughout Sangam City. Starting with commercial properties and expanding zone-wise to residential areas, the initiative enables tax collectors to facilitate both online and offline payments through door-to-door visits. This digital advancement addresses previous inefficiencies caused by delayed payments and excuses related to online transfers. The system enables homeowners to pay house, water, and sewer taxes together. With over 177,000 properties identified, the corporation targets immediate recovery from 55,000 buildings, enhancing transparency, convenience, and revenue efficiency in municipal tax collection.Read more

28 May 2025

CBRE recently released its Q1 2025 Asia Pacific Cap Rate Survey, offering insights into regional capital markets and investor sentiment. The report indicated an 11% year-on-year surge in commercial real estate investment to USD 33 billion, driven by lower interest rates and asset repricing. Despite concerns about newly introduced tariffs, particularly among investors in Mainland China, Hong Kong, and Singapore, the broader market has remained resilient. Notably, cap rate divergence emerged across the region, with compression in Australia and pressure in Greater China. Investor interest has intensified in sectors such as Australian retail, multifamily housing, and data centres, pointing to a promising outlook.Read more

28 May 2025

Arvind SmartSpaces Ltd, a leading real estate developer headquartered in Ahmedabad, has reported a 24% increase in consolidated net profit for the fourth quarter of the financial year 2024-25, reaching INR 19.14 crore compared to INR 15.49 crore in the same quarter last year. This growth was supported by a substantial rise in total income. For the entire fiscal year, net profit more than doubled to INR 110.49 crore, while total income more than doubled as well. The board has proposed a final dividend, reflecting the company's strong financial health. Strategic expansions into Mumbai and Ahmedabad mark the company's efforts to diversify and strengthen its market presence.Read more

28 May 2025

The Municipal Corporation of Gurugram (MCG) has escalated its efforts to recover property tax dues by issuing notices to 22 major defaulters, each owing more than INR 50 lakh. This action forms part of a larger crackdown, with lists of defaulters prepared for every municipal zone. The MCG has also warned residents against engaging middlemen for property tax corrections and urged direct reporting of such incidents. Following years of minimal enforcement that saw revenue dip drastically, the corporation is now enforcing stricter penalties, including property sealing and auctioning, to ensure timely tax compliance and secure funds for city development.Read more

28 May 2025

Interarch Building Solutions, a key player in the pre-engineered steel construction sector, registered a robust 30% rise in net profit to INR 38.68 crore during the final quarter of the previous financial year, driven by a significant increase in revenue. The company's total income surged to INR 470.58 crore in the January-March quarter, while annual figures reached INR 1,474.47 crore. Managing Director Arvind Nanda highlighted this as the company's best-ever financial performance and announced the proposal of its first-ever dividend. He expressed optimism about maintaining growth in the ongoing fiscal year, backed by a solid order pipeline.Read more

28 May 2025

Ahmedabad Municipal Corporation is set to launch a self-assessment software that allows property owners to estimate future property tax liabilities for new constructions and property modifications. This step aims to simplify the property tax process by enabling taxpayers to receive preliminary tax calculations online before official validation. Alongside this, the AMC has witnessed considerable success with its advance property tax payment scheme, which has generated significant revenue and engaged over half a million citizens. The new software tool promises to bring transparency and ease to Ahmedabad's property tax system.Read more

27 May 2025

In a citizen-friendly move, Navi Mumbai Municipal Corporation (NMMC) initiated home delivery of property tax bills for the financial year 2025-26, appointing women from registered self-help groups as temporary municipal representatives. Starting earlier this week, these women began distributing bills and collecting updated contact details from property owners and tenants for digitisation purposes. The Corporation is pushing for seamless tax-related communication through digital channels. Residents are urged to treat the women with courtesy and provide accurate data such as names, mobile numbers, and email IDs. This step aligns with NMMC's broader digital governance agenda.Read more

27 May 2025

Embassy Developments Ltd has raised INR 1,060 crore through the conversion of unlisted warrants into equity shares by its promoter group and Blackstone-affiliated NCL SG Holdings. The promoter entity, Bellanza Developers, received INR 415 crore for 5 crore shares, while NCL SG Holdings invested INR 645 crore for 7.7 crore shares. This capital infusion strengthens Embassy's equity base and supports its operational expansion. The promoter group now holds a 42.96% stake, with Blackstone's entity at 10.93%. Formerly Indiabulls Real Estate, Embassy is known for its residential, commercial, and SEZ projects. The move signals strong investor confidence and positions the company for accelerated growth.Read more

27 May 2025

The Securities and Exchange Board of India (SEBI) has scheduled the auction of 30 properties belonging to the Rose Valley Group, with a total reserve price of INR 409.02 crore. This move is part of SEBI's ongoing efforts to recover funds raised through unauthorised investment schemes. The properties, including land with buildings, flats, resorts, hotels, and amusement parks, are located across West Bengal, Andaman and Nicobar Islands, Tripura, and Bihar. The e-auction is set to take place later this year. Interested bidders can participate online, either from within India or abroad. SEBI has appointed C1 India as the e-auction service provider and engaged Quikr Realty to assist in the sale process.Read more