13 Mar 2025

BNP Paribas has leased a 3,497 sq. ft. office at Maker Maxity, BKC, at INR 811 per sq. ft. per month, totaling INR 17 crore over five years. This deal reinforces BKC's status as India's most expensive commercial hub. The lease includes three parking spaces and a 5% annual rent escalation. Tesla recently secured a INR 881 per sq. ft. lease at Maker Maxity, marking another high-profile transaction. BKC, Mumbai's central business district (CBD), houses global giants like Apple, Netflix, Amazon, and Pfizer, along with key financial institutions and government offices, solidifying its status as India's premier corporate hub.Read more

12 Mar 2025

The Nashik Municipal Corporation (NMC) has intensified efforts to recover pending property tax dues by issuing notices to defaulters. Over 2,000 notices have already been sent, urging recipients to clear outstanding payments within 15 days. Despite the NMC collecting INR 237 crore so far, it still falls short of its INR 250 crore target. Earlier, the civic body introduced an amnesty scheme offering up to 95% penalty waivers, which led to the recovery of INR 60 crore. However, with over 1.5 lakh defaulters still owing INR 250 crore, the administration is now escalating recovery measures, warning of stricter actions, including property confiscation, for non-payment.Read more

12 Mar 2025

Chandigarh's real estate market is set for a major shift with proposed collector rate hikes, increasing by up to four times depending on property type and location. Residential sector rates may rise by 42%-128%, while rural residential plots could see a 316% hike. Commercial properties in rural areas face a 438% increase, and industrial land rates in Phases 1 and 2 may jump 32%. Agricultural land rates will now vary by location instead of uniform pricing. These steep hikes could reshape investments and land valuation, significantly impacting buyers, sellers, and developers in Chandigarh's real estate market.Read more

12 Mar 2025

Bollywood actor and producer Priyanka Chopra Jonas has sold four residential apartments in Andheri West's Lokhandwala Complex for INR 16.17 crore. Among these, a duplex spanning the 18th and 19th floors fetched INR 6.35 crore. The deals were executed by her mother, Madhu Chopra, and registered earlier this week, incurring a cumulative stamp duty of INR 84.47 lakh. This follows her previous real estate sales in the same area, including two apartments to filmmaker Abhishek Chaubey for INR 6 crore in late 2023 and a commercial property for INR 7 crore earlier that year.Read more

12 Mar 2025

Unlike previous years, Ahmedabad Municipal Corporation (AMC) has yet to announce its annual property tax interest waiver scheme, leading to uncertainty among taxpayers. Meanwhile, AMC's South West Zone sealed 477 properties, recovering INR 41 lakh in a single day, while illegal constructions at Gurukrupa Estate were demolished. The western zone saw a 5.95% drop in tax revenue, attributed to reassessment delays. Other cities like Nagpur and Ulhasnagar have introduced penalty waiver schemes to boost tax compliance. The delay in AMC's announcement could impact revenue collections as taxpayers wait for possible rebates.Read more

12 Mar 2025

Deputy CM Shri Eknath Shinde has announced that the Maharashtra government will explore the use of Transfer of Development Rights (TDR) for buildings in Mumbai's airport funnel zone, which face height restrictions delaying redevelopment. The move, benefiting over 6,000 buildings and nearly 6-8 lakh residents in Vile Parle, Santacruz, Kurla, and Ghatkopar, aims to allow developers to compensate for lost floor space through TDR, making projects viable. Additionally, MHADA is expediting the redevelopment of dilapidated cessed buildings, appointing a full-time land acquisition officer and issuing notices to 854 owners. The initiative aligns with similar TDR models used in Delhi, easing Mumbai's housing shortage while ensuring aviation safety.Read more

12 Mar 2025

The Karnataka government has introduced the Micro Loan and Small Loan (Prevention of Coercive Actions) Bill, 2025, absolving borrowers from repaying loans taken from unregistered microfinance institutions (MFIs) and mandating the return of securities collected by such lenders. This move follows rising concerns over predatory lending and harassment, highlighted by tragic incidents like a borrower's suicide in Haveri. Karnataka's microfinance sector, supporting over 10 million individuals, has grown rapidly, but aggressive debt collection has led to calls for stronger regulation. While the Bill protects borrowers, analysts stress the need for broader governance reforms to balance accessibility with ethical lending practices.Read more

12 Mar 2025

Maharashtra's economy is poised for a 7.3% growth in 2024-25, outpacing the national average, as highlighted in the recently released Economic Survey of Maharashtra 2024-25. The state's key sectors, including agriculture, services, and industry, are projected to witness substantial expansion. Nominal GSDP is estimated to rise to INR 45.31 lakh crore, reflecting consistent economic progress. On the fiscal front, revenue receipts and expenditures are both on an upward trajectory, underscoring sound financial management. Additionally, banking indicators, including deposits, credit, and priority sector lending, highlight strong financial activity in the state.Read more

12 Mar 2025

Tata Capital plans to launch a USD 2 billion (INR 17,000 crore) IPO, pending final NCLT approval for its merger with Tata Motors Finance. The IPO could value the firm at USD 11 billion, making it one of the largest in the financial sector. As an upper-layer NBFC under RBI regulations, Tata Capital has expanded across retail loans, wealth management, and infrastructure financing. The merger aims to streamline Tata Group's financial services, boosting efficiency. Following Tata Technologies' successful 2023 IPO, this listing is expected to attract strong investor interest, reinforcing Tata's financial sector presence.Read more

12 Mar 2025

Nielsen, a global leader in audience measurement, data, and analytics, expanded its operations in India by inaugurating new offices in Mumbai and Bengaluru. The offices, situated in prime locations-Goregaon and Whitefield-are part of Nielsen's strategy to strengthen its regional presence. Leased from Oberoi Realty Limited and Chalet Hotels Limited, respectively, the spaces span 1,50,000 sq. ft. in Mumbai and 1,36,000 sq. ft. in Bengaluru. The facilities prioritise sustainability and employee well-being, offering flexible workspaces and modern amenities. Nielsen also announced future expansion plans across India, along with a significant investment of INR 450 crore to create 1,100 new technology roles.Read more