11 Mar 2025

LIC Housing Finance has secured board approval to raise INR 1.23 lakh crore in FY26 through bonds, loans, commercial papers, and external borrowings. This move aligns with the booming housing finance sector, where companies like HDFC Ltd (INR 50,000 crore) and Bajaj Housing Finance have also raised funds to meet rising housing loan demand. The company's stock surged 3.49% to INR 521.20, reflecting investor confidence. With India's housing finance market projected to hit INR 81 trillion by 2030, LIC Housing Finance aims to expand operations and strengthen its market position.Read more

11 Mar 2025

India's housing finance market, currently valued at INR 33 trillion, is set to grow at a 15-16% CAGR, reaching INR 77-81 trillion by FY30. This growth is fueled by record home sales, favorable government policies, and rising demand for luxury properties, which accounted for 50% of sales in 2024. Banks dominate the market with a 74.5% share, while Housing Finance Companies (HFCs) maintain 19%. Improved asset quality and declining GNPAs (2.2%) signal stability. With 3.03 lakh units sold in 2024, India's residential real estate market is on track to reach $40.2 trillion by 2025.Read more

11 Mar 2025

Blackstone and Sattva Group have applied for an INR 7,000 crore IPO for their real estate investment trust (REIT), Knowledge Realty Trust, set to be India's largest office REIT. The 48.1 million sq. ft. portfolio, with 90% occupancy, spans Bengaluru, Hyderabad, and Mumbai, with 76% MNC tenants. Funds will support debt repayment, acquisitions, and corporate expenses. Meanwhile, Blackstone is allegedly finalizing a USD 400 million deal to acquire South City Mall, Kolkata, expanding its retail footprint. The move aligns with Blackstone's growing presence in India's commercial and retail real estate market.Read more

11 Mar 2025

The Karnataka government's INR 4.09 lakh crore budget prioritizes infrastructure, agriculture, education, and economic growth. Key allocations include INR 50,000 crore for infrastructure, INR 51,339 crore for agriculture, INR 45,286 crore for education, and INR 14,500 crore for healthcare. The Chief Minister's Infrastructure Development Program (CMIDP) gets INR 8,000 crore, while Brand Bengaluru receives INR 1,800 crore for urban improvements. AI and deep tech startups will benefit from a new INR 400 crore fund. With a fiscal deficit of 2.95% of GSDP, the budget focuses on economic stability, revenue growth, and industrial expansion to ensure sustained development.Read more

11 Mar 2025

The Navi Mumbai Municipal Corporation (NMMC) has launched Abhay Yojana, offering a 50% concession on late penalty charges for property tax defaulters who clear their dues between March 10-31, 2025. However, only full payments qualify for the discount. Amidst ongoing legal action against defaulters, NMMC has also introduced the Bharat Bill Payment System (BBPS) to simplify tax payments. Citizens can now pay via UPI, online banking, debit/credit cards, and mobile wallets through the NMMC website and mobile app. A 24/7 helpline (022-62531727) has been set up for assistance. These initiatives aim to boost tax collection, improve transparency, and enhance civic administration.Read more

11 Mar 2025

Oaktree Capital Management, a leading global investment firm, has opened a new office in Hyderabad's HITEC City, highlighting its commitment to India and its skilled workforce. The expansion aims to strengthen operations and service delivery. Co-Chairman Howard Marks praised Hyderabad's business environment and talent pool. Oaktree, a major investor in India's private credit space, has deployed over $4 billion since 2018. The Hyderabad office is its second in India, following Mumbai's 2023 launch. With $202 billion in assets under management, Oaktree operates in 24 global cities, focusing on credit, equity, and real estate investments.Read more

10 Mar 2025

The Chhattisgarh budget 2025, presented by Finance Minister OP Choudhary, has been praised by the Chhattisgarh Chamber of Commerce and Industries (CCCI) for its pro-business approach. The budget allocates INR 1,420 crore for industrial subsidies and removes the cess on stamp duty to boost the real estate sector. VAT dues up to INR 25,000 for long-pending cases will be waived, benefiting 40,000 traders. Additionally, concessional land for the Chamber's new office and INR 1 per liter petrol price reduction aim to improve business conditions. These reforms mirror successful policies in Uttar Pradesh, Maharashtra, and Gujarat, promoting economic growth and investment.Read more

10 Mar 2025

The Indore district administration has intensified its crackdown on land diversion tax defaulters, sealing properties of major offenders. Vidyut Mittal's office in Mhowgaon was sealed over INR 18 lakh unpaid tax, while Shobhit Shanti Niketan Farmhouse in Jhalaria faced similar action for INR 2 lakh dues. With a target of INR 120 crore for the financial year, only INR 45 crore has been collected so far, prompting stricter enforcement. Officials warn further property seizures if dues remain unpaid. This aggressive tax recovery drive reflects the administration's firm stance on compliance and revenue collection to meet fiscal goals.Read more

10 Mar 2025

The Municipal Corporation of Gurgaon (MCG) will conduct a door-to-door property ID survey to correct errors from a flawed private agency survey done three years ago. Thousands of residents faced tax discrepancies, delaying payments and transactions. Commissioner Ashok Kumar Garg has ordered quick resolution of pending objections and strict action against delays. In January, disciplinary action was taken against an official for eight months of inaction on a correction request. With Gurgaon and Faridabad accounting for 30% of Haryana's 74,227 property ID disputes, this fresh survey aims to ensure accuracy and tax compliance.Read more

10 Mar 2025

The Ludhiana Municipal Corporation is intensifying efforts to meet its property tax collection goal before the fiscal year ends. The original INR 200 crore target was lowered to INR 154 crore, with INR 134 crore collected so far. Officials are contacting defaulters and warning of penalties doubling from 10% to 20% plus interest for non-payment. Despite these measures, many property owners remain reluctant, hoping for a one-time settlement. Mayor Inderjit Kaur has urged citizens to pay taxes to support civic services. The drive's success will shape next year's INR 160 crore tax target and municipal funding.Read more