14 Mar 2025

Nashik's housing market grew by 22% in 2024, with 8,583 apartment sales, while new supply dropped by 30%, reducing unsold inventory by 15%. Despite strong demand, prices remained stable between INR 3,134-INR 15,833 per sq. ft., making Nashik an attractive alternative to Mumbai's high real estate costs. Improved infrastructure, industrial growth, and enhanced connectivity have boosted investment interest. The city's wine industry, tourism, and manufacturing sectors further drive demand for both residential and commercial spaces. With major developers expanding in the region and Nashik's strategic location near Mumbai, the city is emerging as a key real estate investment destination.Read more

14 Mar 2025

The Tamil Nadu government has launched a modernized property registration model, piloted at the Adyar Sub-Registrar Office (SRO) in Chennai, as part of a statewide upgrade of 30 SROs by 2025. The initiative introduces digital systems, token-based entry, and enhanced visitor amenities, improving efficiency and transparency. Inspired by Andhra Pradesh's Bhudhaar system and the Digital India Land Records Modernization Programme (DILRMP), the move aligns with India's broader digitization efforts. With Tamil Nadu's Adyar SRO processing INR 295 crore in 2023-24, the reforms are set to revolutionize land registration and enhance real estate transactions across the state.Read more

14 Mar 2025

Axis Bank has become the first Indian bank to facilitate an aircraft financing transaction at Gujarat's Gift City IFSC. The deal, structured for AI Fleet Services Ltd, funds the purchase of 34 training aircraft for Air India's upcoming pilot training institute in Amravati, Maharashtra. This move aligns with India's push to establish Gift City as a global aviation leasing hub, reducing reliance on foreign lessors. Air India, currently undergoing a five-year transformation under Vihaan.AI, has placed a record-breaking order for 570 aircraft, with Gift City expected to play a key role in financing these acquisitions. Axis Bank's involvement signals a growing role for Indian banks in aviation finance.Read more

14 Mar 2025

Sun Pharma is set to acquire Checkpoint Therapeutics, a Nasdaq-listed oncology and immunotherapy company for USD 355 million. This acquisition will strengthen Sun Pharma's specialty portfolio and include UNLOXCYT, an FDA-approved treatment for advanced skin cancer. Sun Pharma's CMD, Dilip Shanghvi, stated that this move would expand patient access to critical oncology therapies. James Oliviero, the CEO of Checkpoint, emphasized the deal's benefits for shareholders and how it will help UNLOXCYT expand its market reach. Upon completion, Sun Pharma will acquire all Checkpoint shares, with stockholders receiving USD 4.1 per share. The deal is expected to close in Q2 2025, subject to approvals, and includes a royalty agreement with Fortress Biotech.Read more

13 Mar 2025

The New Delhi Municipal Council (NDMC) has intensified its crackdown on property tax defaulters, attaching 13 properties in Connaught Place due to unpaid dues. Despite prior notices, owners failed to respond, prompting action under Section 100(1) of the NDMC Act. Five owners have since paid INR 6 crore, but de-attachment requires a written commitment to clear all dues by March 31. NDMC aims to recover INR 200 crore from 3,200 defaulters. Property owners dispute the "comparable rent method" for tax assessment, calling for a unified tax policy aligning NDMC with MCD's "unit area method" for fairness and transparency.Read more

13 Mar 2025

The Ulhasnagar Municipal Corporation (UMC) has significantly boosted property tax collections through its Abhay Yojana scheme, which offers a 100% interest waiver for defaulters. On the last day alone, INR 16 crore was collected, bringing the 11-day total to INR 42 crore. Major contributions came from companies like Amar Dye (INR 7.7 crore) and ESIS Hospital (INR 1.49 crore). With property tax arrears exceeding INR 900 crore, UMC hopes to collect more before the March 18 deadline. While effective, the scheme has faced criticism for favoring defaulters over regular taxpayers. Similar rebate schemes have been used in Mumbai, Pune, and Nagpur.Read more

13 Mar 2025

The Raipur Municipal Corporation (RMC) has intensified its crackdown on property tax defaulters, sealing Anand Restaurant in Zone 10 for failing to pay INR 5.92 lakh in dues since 2019-20. Despite multiple notices, the owner did not respond, prompting action under Commissioner Abinash Mishra's directive. The move serves as a warning to other defaulters, reinforcing the city's commitment to tax recovery. RMC has also conducted door-to-door tax collection and updated property tax assessments to improve compliance. The municipality vows continued enforcement to ensure timely payments, strengthen revenue collection, and maintain financial order.Read more

13 Mar 2025

India's real estate market in 2024 saw a major shift, with Tier 2 and 3 cities emerging as key players in land acquisitions (44% of 3,294 acres) and housing demand. According to a report published by Liases Foras, sales surged 23% YoY to 6,81,138 units, with the market valued at INR 7.5 trillion (43% growth). Luxury housing dominated (71% of sales value), with 1-2 crore units rising by 52% and ultra-luxury homes (above 2 crore) growing by 73%. Infrastructure projects like Gati Shakti are fueling growth, especially in affordable housing hubs like Ahmedabad, Pune, and Indore. With INR 22.5 trillion market value, Tier 2 and 3 cities are now central to India's real estate expansion.Read more

13 Mar 2025

Pune's residential real estate market continued its strong growth in 2025, driven by affordability, infrastructure development, and a thriving job market. In 2024, home prices rose 11% YoY to INR 6,590 per sq. ft., with 90,127 units sold. The demand for luxury housing (INR 3-4 crore+) surged, fueled by Pune's technology, finance, and manufacturing sectors. Luxury sales more than doubled to 825 units, but new supply lagged at 295 units. Premium housing is expanding beyond Koregaon Park and Baner to NIBM Road and Hinjewadi, boosted by Pune Metro and Ring Road developments.Read more

13 Mar 2025

Build Capital successfully exited its investment in a Slum Rehabilitation Authority (SRA) project near Bandra-Kurla Complex (BKC), Mumbai, marking another strong return in structured real estate financing. The firm's early-stage investment helped the developer overcome delays, align with DCPR 2034 guidelines, and improve project economics. With 2.25 lakh sq. ft. of carpet area, the project is expected to generate INR 725 crore in revenue. The exit delivered a 19.76% IRR, with timely interest payments to investors. Build Capital's CEO, Kuldeep Jain, emphasized their role in reviving projects and confirmed their ongoing focus on structured debt solutions for real estate development.Read more