06 May 2025

SEBI has proposed regulatory changes for REITs and InvITs aimed at simplifying compliance and improving investor transparency. Key suggestions include aligning valuation report deadlines with financial reporting cycles, redefining 'public' unitholders to include related QIBs, and allowing holding companies to offset negative cash flows using SPV distributions for calculating Net Distributable Cash Flow. SEBI also plans to introduce a standard Investor Charter outlining unitholder rights and responsibilities. Public comments are invited until May 22, 2025. The reforms aim to enhance ease of doing business and attract more investment into India's real estate and infrastructure sectors.Read more

06 May 2025

Macrotech Developers (Lodha) has set an ambitious INR 21,000 crore pre-sales target for FY26, a 19% rise over the previous year. The firm plans to launch 18.8 million sq ft of projects, up 37% from FY25. It reported INR 4,810 crore in Q4 pre-sales and INR 17,520 crore for FY25, exceeding its guidance. Backed by strong collections and INR 2,320 crore in Q4 operating cash flow, Lodha reduced net debt to INR 3,990 crore. The developer is also expanding into logistics with new land deals in Navi Mumbai and Palava. Analysts remain bullish, citing growth visibility, efficient cash flow, and prudent debt management.Read more

06 May 2025

The Mysuru City Corporation (MCC) has intensified its B-Khata drive to regularize unauthorized properties and bring them under the tax net. Launched earlier this year, the initiative aims to issue temporary registrations to 27,616 such properties over the next 16 months. The drive has received a positive response, with over 2,300 B-Khatas issued so far. To ensure transparency and eliminate middlemen, MCC has implemented measures such as installing CCTV cameras and replacing officers. The initiative is expected to boost property tax revenue and streamline the registration process.Read more

05 May 2025

The Chandigarh Municipal Corporation (MC) has collected INR 7.75 crore in property tax collections for the opening month of the current financial year, driven largely by enthusiastic residential taxpayer participation. This development comes during an active rebate window offering substantial discounts to early taxpayers. The MC has also taken corrective steps to address confusion around revised tax rates by issuing updated bills. The civic body's earlier achievements, including a record-breaking INR 52.24 crore in property tax revenue in the previous fiscal year, underscore its increasingly effective revenue mobilisation strategies.Read more

05 May 2025

Uttar Pradesh Chief Minister Shri Yogi Adityanath has directed the urban development department to implement a uniform system for municipal service charges across the state. Citing inconsistencies in fees among municipal corporations, councils, and town bodies, he called for a standardised framework to ensure fairness and transparency. Currently, varying slab structures-especially in places like Fatehpur and Budaun-cause confusion and inequality. Officials have been tasked with creating a uniform rate structure to apply statewide. This move aims to streamline urban governance, eliminate arbitrary charges, and provide consistent service delivery for all residents, regardless of location. Implementation preparations are now being prioritised.Read more

05 May 2025

The Greater Hyderabad Municipal Corporation (GHMC) is considering a property tax hike for individuals and establishments that engage in illegal garbage dumping. By integrating unpaid waste disposal fines into property tax dues through a Comprehensive Challan Management System (CCMS), GHMC aims to enforce stricter compliance. The initiative includes automated penalty generation linked to Property Tax Identification Numbers (PTINs), SMS notifications, and UPI payment options. Enhanced surveillance measures, including special monitoring teams and CCTV installations, are also being implemented to identify and penalize violators.Read more

05 May 2025

The Delhi Development Authority (DDA) has announced plans to allocate two valuable land parcels, one in Nehru Place and another in Dwarka, for the construction of five-star hotels. This move is part of the DDA's strategy to maximise revenue from underutilised land through a 55-year lease arrangement. The land, covering around 2.2 acres in Nehru Place and over 2.5 acres in Dwarka, will be developed according to the Master Plan for Delhi (MPD) 2021 and Unified Building Byelaws 2016. This forms part of DDA's broader development agenda, which includes various commercial initiatives.Read more

05 May 2025

The Prayagraj Municipal Corporation (PMC) has begun levying house tax on approximately 1.25 lakh residential buildings in newly incorporated areas like Naini, Jhunsi, Phaphamau, Jhalwa, and Bamrauli. This marks the first time these zones fall under municipal taxation, as PMC aims to formalise urban expansion and boost revenue. Residents are encouraged to complete a self-assessment process to ensure accurate billing, with physical verification to follow if needed. A 10% rebate is offered for payments made by July 31. This initiative follows low compliance in the previous year and reflects PMC's broader push to integrate peripheral areas and strengthen civic service delivery.Read more

05 May 2025

Mindspace Business Parks REIT reported a 13% year-on-year increase in net operating income, reaching INR 540 crore for the quarter ended March. The company declared a distribution of INR 392 crore for the same period. For the fiscal year 2024-25, net operating income rose 8.9% to INR 2,061.6 crore, with a distribution of INR 1,312 crore, marking a 15.5% annual growth. The company achieved gross leasing of 2.8 million square feet in Q4, bringing the total for FY25 to 7.6 million square feet. Leadership changes include Ramesh Nair being appointed as CEO and Managing Director for a five-year term, effective immediately.Read more

02 May 2025

Vishal Mega Mart’s shares surged after it reported an 88% YoY rise in net profit to INR 115.1 crore for the March quarter, driven by strong consumer demand and operational efficiency. Revenue grew 23.2% to INR 2,547.9 crore, while EBITDA rose 42.6% to INR 357 crore, with margins improving to 14%. For FY25, net profit reached INR 631.97 crore on revenue of INR 10,716.35 crore, up 36.8% and 20.2% respectively. With 668 stores, mainly in Tier-II and Tier-III cities, the company is benefiting from demand for affordable retail. Analysts remain bullish, with a ‘Buy’ rating and 16% upside potential.Read more