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

18 Mar 2025

Madhya Pradesh's Gross State Domestic Product (GSDP) demonstrated a substantial increase of 11.05% over the previous financial year, as reflected in the Economic Survey of Madhya Pradesh 2024-25, which was presented in the state assembly earlier this week. The GSDP at prevailing prices stood at INR 15,03,395 crore, up from INR 13,53,809 crore. Even at constant prices, it exhibited a growth of 6.05%. The state's per capita net income surged from INR 38,497 in 2011-12 to INR 1,52,615 in 2024-25, with inflation-adjusted figures also showing considerable improvement. Sector-wise contributions revealed a decline in the primary and secondary sectors, while the services sector witnessed a positive uptrend.Read more

18 Mar 2025

Piramal Capital & Housing Finance Limited (PCHFL) is currently seeking buyers for a loan portfolio valued at INR 1,625 crore. The loans were extended to Transcon Sheth Creators, Sheth Creators, and Homemakers. PCHFL has invited bids from asset reconstruction companies, non-banking financial companies (NBFCs), and financial institutions on an upfront cash payment basis. The company has been focusing on reducing its wholesale loan book while shifting towards expanding its retail lending operations. This strategy follows Piramal Enterprises Group's restructuring and its ongoing efforts to address substandard wholesale loans.Read more

18 Mar 2025

Aditya Birla Capital Limited (ABCL) has infused INR 300 crore into its subsidiary Aditya Birla Housing Finance Limited (ABHFL) via a rights issue, reinforcing its financial stability and expansion plans. In parallel, IFC has invested INR 830 crore in ABHFL through non-convertible debentures to fund affordable housing loans and support MSMEs, particularly women-led businesses. These investments reflect a strong push for financial inclusion, with a focus on low-income homeownership and entrepreneurial growth. ABHFL's strategic moves align with industry trends emphasizing affordable housing and MSME financing for inclusive economic development.Read more

18 Mar 2025

A consortium of lenders, including SBI, ICICI Bank, and PNB, has transferred Jaiprakash Associates Ltd's (JAL) outstanding debt to the National Asset Reconstruction Company Ltd (NARCL) to manage non-performing assets. JAL, with liabilities of INR 55,493 crore, is undergoing insolvency proceedings under NCLT. The move aligns with India's strategy to clean up bank balance sheets and accelerate NPA resolution. NARCL, the government-backed 'bad bank,' will now handle the asset recovery process while banks free up capital for fresh lending. This restructuring is expected to stabilize the financial sector and improve liquidity in the economy.Read more

18 Mar 2025

The Nashik Municipal Corporation (NMC) has reported a surge in digital property tax payments, with online transactions accounting for INR 118 crore out of INR 235 crore collected as of March 10, 2025. This marks a significant rise from pre-pandemic levels when online payments made up just 7% of total collections. The shift is driven by incentives like rebates and amnesty schemes for defaulters, which recovered INR 65 crore. NMC aims to collect INR 250 crore this year, leveraging digital adoption. The trend aligns with similar initiatives in Pune and Bangalore, enhancing efficiency, transparency, and taxpayer compliance in urban governance.Read more

18 Mar 2025

Danish multinational Topsoe has moved its India operations from Faridabad to Noida, leasing 75,000 sq. ft. at DLF Tech Park. This shift aligns with a trend of corporations relocating to Noida, driven by the upcoming Jewar Airport, set to open by May 2025. Improved connectivity and rising property values-up by 20-30% in Greater Noida and along the Yamuna Expressway-are fueling commercial expansion. YEIDA has also received proposals for specialized hubs near the airport, reinforcing Noida's position as a strategic business hub attracting global companies.Read more

17 Mar 2025

The Ghaziabad Municipal Corporation (GMC) has introduced key reforms, including an annual property tax hike of INR 4,000-5,000, revised vending fees, and a smart parking system linked to mobile apps. New property tax rates will be based on road width and DM circle rates, with rates set at INR 4 per sq ft for properties on roads wider than 24 meters. The Integrated Parking Management System (IPMS) will provide real-time parking availability, tiered pricing, and upgraded facilities. GMC also introduced designated vending zones, following models from Delhi, Pune, and Bengaluru, to enhance urban management.Read more

17 Mar 2025

The Uttar Pradesh government is revising land circle rates to align property valuations with current market conditions, benefiting landowners, farmers, and urban developers. The revision is complete in 37 districts, with Lucknow, Varanasi, and Gorakhpur now in focus. Updated rates will ensure fair compensation, particularly for land acquisitions, and increase transparency in property transactions. Urban centers like Noida, Greater Noida, and Agra will benefit from realistic valuations reflecting market demand. The initiative supports industrialization, infrastructure development, and rural expansion, strengthening Uttar Pradesh's real estate market and fostering a fair and efficient investment environment.Read more

17 Mar 2025

India's construction industry saw a moderate 2-4% cost increase in 2024, down from 6-8% hikes in 2021-22, due to stabilized inflation and improved supply chains, according to CBRE's 2024-25 Construction Cost Trends report. Cement, steel, and aluminum prices dropped, but labor costs rose by 5% due to shortages, keeping overall expenses high. Mumbai led fit-out cost increases (4-6%), while Delhi-NCR, Bengaluru, and Pune saw 3-4% hikes due to luxury residential and commercial projects. Sustainability and energy-efficient construction are shaping future trends, with Tier-2 cities also adopting green building practices, influencing long-term market stability and investment value.Read more