06 Mar 2025

The Adani Group is reportedly reconsidering its investment plans in the United States following policy changes introduced by President Donald Trump. The conglomerate had previously halted its USD 10 billion commitment to US infrastructure projects due to legal troubles over an alleged USD 265 million bribery scheme. The suspension of the Foreign Corrupt Practices Act (FCPA) enforcement in the US has sparked renewed optimism within the group, prompting it to explore investment opportunities in sectors such as nuclear power, utilities, and port infrastructure. Legal proceedings against Adani and his associates continue, although the policy shift has created a more favourable environment for the group's expansion.Read more

06 Mar 2025

The Nashik Municipal Corporation (NMC) saw a 33% increase in property tax collection, reaching INR 234 crore by February, a record high. To meet its INR 250 crore goal, it needs INR 16 crore more. The rise is attributed to an 8% discount for early lump-sum payments, an extra 1% for online payments, and a successful amnesty scheme. NMC's push for digital transactions and actions against defaulters, like door-to-door collection, also contributed. With a steady revenue increase over recent years, NMC expects to exceed its target in March.Read more

06 Mar 2025

Mumbai Indians captain Rohit Sharma has rented out his 1,298 sq. ft. luxury apartment in Lodha Marquise, Lower Parel, for INR 2.6 lakh per month. The flat, co-owned with his father, was purchased in 2013 for INR 5.46 crore. A second unit in the same complex was leased in October 2024 for INR 2.65 lakh monthly. Rohit also owns a 6,000 sq. ft. apartment in Ahuja Towers, Worli, worth INR 30 crore. Lower Parel and Worli remain prime real estate markets due to their connectivity and high rental yields, making them attractive for luxury investors and tenants alike.Read more

06 Mar 2025

The Bidhannagar Municipal Corporation (BMC) plans to adopt the Bharat Bill Collection System (BBPS) as an additional option of property tax collection beginning with the 2019 fiscal year. This program intends to make it easier for taxpayers to make payments using mobile apps in addition to existing online and offline ways. The civic authority has already initiated the process of collaborating with a bank to adopt this system. BMC currently accepts property tax payments via debit or credit cards, internet banking, or in person with cash, checks, or demand drafts. The corporation is also focusing on implementing the Unit Area Assessment (UAA) system, which will standardize property tax collection throughout all 41 wards. With these approaches, BMC hopes to increase revenue, raising its collection target from INR 40 crore last year to INR 44 crore for the coming fiscal year.Read more

05 Mar 2025

With the financial year-end approaching, Trichy Corporation has intensified arrears recovery, targeting commercial properties with overdue taxes exceeding three years. As of March 2, tax collections reached INR 137.3 crore, with strict measures like shutting underground drainage (UGD) facilities boosting recoveries. Meerut and Hyderabad municipal bodies have adopted similar tactics, including sealing properties and issuing auction warrants. Meanwhile, Delhi introduced tax waivers to encourage payments. Trichy's survey of 5,400 properties added INR 10 crore in revenue, and UPI payments have simplified collections. These strategies aim to enhance tax efficiency and civic resource management across municipalities.Read more

05 Mar 2025

Jindal Power, backed by Indian billionaire Naveen Jindal, is set to acquire Gujarat-based thermal power company Bhadreshwar Vidyut Pvt Ltd for approximately INR 500 crore under the corporate insolvency process. Bhadreshwar Vidyut, previously known as OPGS Power Gujarat, operates two coal-based power plants in Kutch. The acquisition, approved by the Committee of Creditors (CoC), involves a resolution plan valued at nearly INR 470 crore. The transaction will be financed through internal accruals, with an additional investment of INR 25-50 crore allocated for capital expenditure. The acquisition is expected to be completed within the next six months, further strengthening Jindal Power's presence in the sector.Read more

05 Mar 2025

The Haryana Shehri Vikas Pradhikaran (HSVP), formerly known as the Haryana Urban Development Authority (HUDA), has introduced the Vivad Se Samadhan Yojana 2024 to address the issue of enhancement charges imposed on plot holders. The scheme allows applicants to settle their outstanding dues at a reduced rate without legal complications. Farmers whose land was acquired by HSVP receive additional compensation, which is later recovered from allottees as enhancement charges. Available across 140 sectors, the scheme provides a discount exceeding INR 550 crore, benefiting over 5,000 applicants. Revised enhancement notices have also been proposed for plot holders in Gurugram's Sectors 37C and 110A.Read more

05 Mar 2025

The Municipal Corporation of Delhi (MCD) has refuted claims circulating on social media regarding an exemption from property tax, clarifying that all property owners and occupiers must continue to pay as per existing regulations. The MCD said that property tax constitutes nearly a quarter of its revenue and is crucial for its operations, particularly amid financial constraints such as pending salaries and contractor dues. With outstanding dues exceeding INR 14,000 crore, MCD highlighted the necessity of financial stability for maintaining essential services. Property owners have been urged to file tax returns on a self-assessment basis and make payments by the end of March 2025 to avoid penalties.Read more

04 Mar 2025

According to a Deloitte India-RAI analysis, India's private consumption has increased from USD 1 trillion in 2013 to USD 2.1 trillion in 2024, at a CAGR of 7.2%. By 2030, consumer expenditure is expected to account for 60% of India's USD 7.3 trillion GDP, driven by rising incomes, better credit access, and digital commerce. Discretionary spending is migrating to luxury brands, travel, eating, and wellness, driving organised retail to USD 230 billion. This revolution is altering retail real estate in India, with a growing need for experience-driven malls, mixed-use complexes, and logistics hubs.Read more

04 Mar 2025

The Meerut Municipal Corporation (MMC) is aggressively pursuing unpaid house taxes, sealing 56 shops across the city to meet its financial targets. Aiming for INR 100 crore by year's end, they've already collected INR 60 crore. Action has been taken in areas like Kotla Bazaar and Shastri Nagar. A major challenge is the INR 19 crore owed by a government university, leading to legal action. The MMC's push for tax recovery is vital for funding city services and infrastructure, demonstrating their commitment to enforcing tax laws and ensuring financial stability.Read more