20 Mar 2025

The Andhra Pradesh Capital Region Development Authority (APCRDA) has secured a INR 11,000 crore loan from the Housing and Urban Development Corporation (HUDCO) to accelerate the development of Amaravati, the state's greenfield capital city. The agreement, signed on March 16, 2025, at Chief Minister Shri Chandrababu Naidu's residence, aims to fund essential infrastructure, administrative buildings, and public amenities. This loan follows earlier commitments of INR 15,000 crore from global institutions like the World Bank and ADB. The partnership between APCRDA and HUDCO underscores a significant public-sector collaboration to transform Amaravati into a modern, sustainable capital.Read more

20 Mar 2025

A recent analysis by Anarock highlights a shift in India's real estate market, with Pune, Kolkata, and Chennai witnessing rental values rising faster than property prices, unlike Bengaluru, MMR, NCR, and Hyderabad, where capital appreciation outpaced rental growth. For example, Pune's Hinjewadi saw rentals rise 57% against a 37% increase in capital values, while Kolkata's EM Bypass rentals grew 51%, compared to a 19% rise in prices. In Chennai, Pallavaram rentals surged 44%, outpacing property price growth. This trend suggests that investors should tailor strategies, focusing on capital gains in certain cities and rental yields in others.Read more

20 Mar 2025

In a bold move to enhance property tax recovery, the Pune Municipal Corporation (PMC) has deployed an all-woman task force, the Damini Squad. The newly-formed squads have already collected over INR 1 crore within just a few days. With property tax dues amounting to nearly INR 10,000 crore, PMC aims to recover a significant portion this financial year, including outstanding amounts from properties and mobile towers.Read more

20 Mar 2025

Life Insurance Corporation of India (LIC) is steering two major moves to bolster its market position: the proposed launch of ultra-long-term bonds and a planned acquisition within the health insurance sector. The insurer is in discussions with the Reserve Bank of India (RBI) to introduce 50-year and 100-year bonds, building on the recent introduction of 40-year sovereign bonds. Concurrently, LIC is nearing a strategic investment in a standalone health insurer, potentially ManipalCigna, signaling its foray into the fast-growing health insurance space. Both initiatives are part of LIC's broader strategy to diversify offerings and fortify its long-term investment portfolio.Read more

19 Mar 2025

Chandigarh property owners may face a significant tax hike from FY 2025-26 as the UT administration finalizes plans to align rates with major Indian cities. Currently taxed at 3% of annual ratable value (ARV), the proposed increase could push rates closer to Delhi and Mumbai. The Municipal Corporation had suggested raising residential tax to 12% and commercial to 15%, but the proposal was rejected by councilors. Despite opposition, the UT administration holds the final decision. If approved, the hike will follow an annual escalation model, affecting both residential and commercial property owners.Read more

19 Mar 2025

The Nashik Municipal Corporation (NMC) has appointed three private agencies for a three-year citywide property tax survey starting April 1. The agencies will identify unregistered properties, update tax records, and detect unauthorized commercial usage to ensure proper taxation. This initiative aims to increase revenue for civic infrastructure projects. Similar efforts in Chandigarh improved tax compliance, identifying over 1.19 lakh properties. NMC has also reinstated the industrial tax slab, reducing rates for nearly 1,000 businesses. Property owners are advised to verify compliance, as this survey strengthens Nashik's tax system for sustainable urban development.Read more

19 Mar 2025

The Ahmedabad Municipal Corporation (AMC) has launched its annual property tax rebate scheme, which includes interest waivers to encourage timely payments. Residential property owners who pay their dues between mid- and late March will receive a 100% interest waiver, while commercial property owners will receive a 75% waiver. This initiative is expected to generate over INR 250 crore in revenue.Read more

19 Mar 2025

Indore's stamps and registrations department has merged about 500 smaller property registration centers with larger ones to improve efficiency and streamline real estate transactions. This restructuring, achieved through polygon mapping, has reduced the number of registration locations from 5,124 to 4,613. Around 3,200 locations will see guideline rate hikes of 20% to 100%, and 150 new colonies will be added to the collector guidelines. The move aims to simplify property registration, boost revenue, and support Indore's growing real estate market. Final approval is expected soon, shaping property transactions in the city for the upcoming financial year.Read more

19 Mar 2025

The stamps and registration department of Karnataka faces a major challenge in meeting its INR 26,000 crore revenue target for 2024-25. So far, it has collected INR 20,186 crore, leaving a shortfall of INR 5,800 crore with only weeks remaining. Slow real estate activity, technical issues affecting encumbrance certificate (EC) generation, and the new mandatory e-khata rule have caused delays, especially in Bengaluru. While Bengaluru Urban leads collections with over INR 13,000 crore, and Bengaluru Rural remains a steady contributor, the slowdown post-October is evident. The department is making urgent efforts to boost collections before the fiscal year ends.Read more

19 Mar 2025

Tamil Nadu's latest budget for 2025-26, presented by Finance Minister Thangam Thennarasu, outlines a bold INR 4.39 lakh crore spending plan ahead of the 2026 Assembly elections. The budget combines aggressive welfare schemes, such as direct cash transfers for women and fare-free travel, with significant infrastructure investments. With allocations for roads, metro rail, and a proposed 'Global City' near Chennai, the state is positioning itself for both social upliftment and economic expansion. However, rising debt levels and the challenge of balancing fiscal prudence with social spending remain key concerns, even as revenue projections show optimistic growth.Read more