Mumbai News Desk

03 Mar 2026

The Brihanmumbai Municipal Corporation (BMC) house has approved a proposal to raise the property tax exemption limit for residential units from 500 sq ft to 700 sq ft. If cleared by the Maharashtra government, the move will extend full tax relief to nearly two lakh additional homes, taking the total exempt properties in Mumbai to around 17 lakh. While the proposal is expected to benefit middle-class and small homeowners, it could increase the civic body's annual revenue loss from about INR 400 crore to nearly INR 700 crore.Read more

03 Mar 2026

Arkel India has invested INR 100 crore in establishing a new advanced manufacturing facility for lift electronic and control systems in Savli-Manjusar, Vadodara district of Gujarat, aimed at bolstering domestic production and reducing reliance on imports. The single-shift plant covers about 1,35,000 sq ft and, once operational, will have an annual production capacity of around 36,000 units, including automated PCB assembly and integrated lift control systems suited to machine-room (MR), machine-room-less (MRL) and slim panel applications. The facility aligns product standards with Indian regulatory norms and positions India as a potential export base for select Asia-Pacific markets. The move follows the January 2025 acquisition of Turkey-based Arkel by Sweden-headquartered Innovalift AB and is expected to generate direct and indirect jobs, including apprenticeships with technical institutes. The plant caters to the rapidly growing elevator market driven by urbanisation and infrastructure expansion.Read more

03 Mar 2026

The government has set a target to generate INR 1.4 lakh crore from Indian Railways land and station estate monetisation during FY26-FY30 under National Monetisation Pipeline 2.0. Around INR 1 lakh crore is expected from redevelopment of nearly 200 stations, while INR 43,800 crore will come from PPP-based development of other railway land assets. The Rail Land Development Authority has already met its FY26 target for other land parcels. Real estate recycling is projected to contribute 54 percent of Railways total INR 2.6 lakh crore monetisation goal for the five-year period.Read more

02 Mar 2026

Listed Infrastructure Investment Trusts (InvITs) distributed a cumulative INR 5,565 crore to nearly 4 lakh unitholders during the third quarter of FY26, reflecting continued expansion of the sector, according to industry data. The payout was higher than the INR 4,287 crore distributed in the preceding quarter by the 26 listed business trusts operating in the market. Industry body Bharat InvITs Association said the InvIT ecosystem has grown steadily in both asset scale and investor participation. Total assets under management across listed InvITs stood at around INR 7 lakh crore at the end of December 2025, spanning operational assets in roads, power transmission, renewable energy and other core infrastructure segments. Regulatory support and sustained public infrastructure spending continue to underpin sector growth.Read more

02 Mar 2026

Bank of Baroda plans to raise up to INR 10,000 crore through green infrastructure bonds, with a base issue of INR 5,000 crore and a green shoe option to accept oversubscription of another INR 5,000 crore. The seven-year bonds, rated by CARE and ICRA, will offer annual interest and be allocated via closed bidding on the EBP platform. Investors can apply starting from INR 1 lakh. The bonds aim to support environmentally sustainable projects and highlight the bank's ongoing commitment to green financing initiatives.Read more

02 Mar 2026

IIFL Home Finance has secured a USD 300 million loan from ADB, marking its first syndicated external borrowing, to boost affordable housing for low-income households, with a special focus on women. The package includes parallel loans from international and regional banks, and over 25 percent of funds will support green-certified homes. The initiative aims to address India's housing shortage, projected to reach 31 million units by 2030, while helping women and economically weaker families overcome barriers in accessing mortgages and promoting sustainable housing solutions.Read more

02 Mar 2026

India's 28 major listed real estate developers recorded combined sales bookings of INR 1.32 lakh crore during the first nine months of FY26, reflecting sustained demand for premium and luxury housing despite moderation in volumes. Data compiled from regulatory filings shows that the April-December period saw sales led by Godrej Properties, which topped the table with pre-sales of INR 24,008 crore, followed by Prestige Group and DLF. The top five listed developers together accounted for nearly INR 84,000 crore, or around 63 per cent of total pre-sales. The trend highlights continued consolidation in favour of financially stronger, listed players, as homebuyers increasingly prefer established brands post-pandemic. While overall housing volumes softened during the 2025 calendar year, higher prices and increased sales of homes priced above INR 1 crore supported growth in transaction values.Read more

02 Mar 2026

Leader of Opposition in the Maharashtra Assembly, Vijay Wadettiwar, criticised the state government over its handling of land acquisition for the proposed Shaktipeeth Expressway, alleging that farmers are being pressured at a time when unseasonal rains and hailstorms have damaged crops across several districts. He said compensation for earlier losses and a promised paddy bonus are still pending. Protests have been reported in Parbhani and other districts, where farmers have opposed the survey process and police deployment for land measurement activities.Read more

02 Mar 2026

Foreign companies, led largely by US-based corporates, have leased around 101 million sq ft of office space across India's seven major cities over the past five years to establish Global Capability Centres (GCCs), according to Colliers India. This accounted for 36 per cent of the total 280.2 million sq ft of gross office leasing recorded between 2020 and 2025 in Bengaluru, Chennai, Delhi-NCR, Hyderabad, Kolkata, Mumbai and Pune. US firms alone absorbed nearly 71 million sq ft, reinforcing their dominant role in GCC-led demand. Colliers noted that GCCs have evolved beyond cost-arbitrage centres into globally integrated hubs for innovation and research. The consultant expects foreign entities to lease 35-40 million sq ft annually for GCCs, potentially lifting their share of India's office demand to as much as 50 per cent in the coming years.Read more

Mumbai News Desk

02 Mar 2026

The Brihanmumbai Municipal Corporation (BMC) has initiated steps to auction 12 properties across Mumbai to recover over INR 269 crore in long-pending property tax dues. Final notices have been issued to defaulters, giving them 21 days to clear payments before e-auction proceedings begin. The properties include commercial buildings, vacant plots and mixed-use sites in prime locations such as Fort, Bandra, Andheri and Santacruz. The action is part of BMC's ongoing drive to improve tax recovery and strengthen municipal revenues amid rising arrears.Read more