21 Aug 2025

The Lucknow Municipal Corporation (LMC) has ramped up its efforts to recover pending property taxes by sealing and attaching 24 buildings across multiple zones. The civic body's move comes in response to a continued backlog of unpaid dues, despite earlier initiatives such as online payment systems and one-time settlement schemes. The action targets high-defaulter properties and reflects LMC's stricter enforcement measures to improve revenue collection and ensure compliance among property owners.Read more

21 Aug 2025

India's Infrastructure Investment Trusts (InvITs) sector is projected for substantial growth, with its assets under management (AUM) expected to surge to INR 21.5 lakh crore (USD 258 billion) by 2030, a more than threefold increase from its current size. This significant expansion is being driven by a surge in India's infrastructure investments and robust government initiatives like the National Monetisation Pipeline (NMP). While the InvIT sector is already gaining traction, it has considerable untapped potential across various infrastructure domains, which is expected to attract significant global capital.Read more

21 Aug 2025

Mumbai-based real estate developer Runwal Enterprises has received approval from the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) of INR 1,000 crore. The IPO, which will be a fresh issue of shares, aims to strengthen the company's balance sheet and fund future expansion plans. This approval, which comes amidst record-high property sales in Mumbai, reflects the company's strong financial performance and its growing presence in the residential and commercial markets.Read more

21 Aug 2025

Mindspace Business Parks REIT has raised INR 550 crore from the International Finance Corporation (IFC) by issuing sustainability-linked bonds, following an earlier fundraising of INR 650 crore through a similar route last year. With this, the total raised under this structure stands at INR 1,200 crore. The issuance carries an eight-year tenure and a 'AAA (Stable)' rating from ICRA. As the first REIT in India to use sustainability-linked bonds under SEBI's ESG framework, Mindspace aims to expand its portfolio of green-certified office spaces across key business hubs in the country.Read more

21 Aug 2025

Honda Motor Co Ltd has established a new subsidiary, Honda Finance India Pvt Ltd, to provide retail financing services in the country. The company plans to offer loans and lease options for its motorcycles and cars, in line with rising demand for vehicle financing. Traditionally, such services in India have been led by local banks and financial institutions. With this move, Honda joins eight other countries where it already operates dedicated financing subsidiaries. The company will soon apply for a non-banking financial company (NBFC) license before starting operations.Read more

21 Aug 2025

Delhi's municipal bodies are moving towards major property tax reforms aimed at bringing clarity, fairness, and ease for taxpayers. The New Delhi Municipal Council (NDMC) has suggested shifting from the old "rateable value" method to a unit area-based system, where tax is linked to property size, age, and condition. Meanwhile, the Municipal Corporation of Delhi (MCD) has recommended limiting retrospective assessments to seven years and ensuring physical surveys before issuing new bills. Both civic bodies are also pushing to replace imprisonment and harsh fines with monetary penalties, reducing legal strain for property owners across the city.Read more

21 Aug 2025

Infrastructure and EPC firm Vikran Engineering is set to launch its initial public offering (IPO) on August 26, aiming to raise INR 772 crore. The IPO, which will close on August 29, has a price band of INR 92 to INR 97 per share. The proceeds from the fresh issue, amounting to INR 721 crore, will be primarily used to fund the company's working capital needs, crucial for its large and growing order book. This public issue comes as the company reports strong financial performance, with revenues growing by over 16% in the last fiscal year. The IPO is a strategic move to leverage India's robust infrastructure development and capitalize on the government's significant capital expenditure in the sector.Read more

21 Aug 2025

Omaxe Ltd, a prominent real estate developer in India, has reported a consolidated net loss of INR 185.77 crore for the first quarter of fiscal year 2025-26. This marks a significant increase from the INR 146.98 crore loss reported in the same period the previous year. The company's total income declined to INR 298.03 crore, down from INR 385.23 crore in the corresponding quarter of the previous fiscal year. Despite these financial challenges, Omaxe continues to expand its portfolio, having recently acquired 450 acres of land in Indore, Madhya Pradesh, for a township development project valued at INR 1,200 crore. Additionally, the company secured INR 500 crore in funding from Oaktree Capital Management to support its ongoing and future projects.Read more

21 Aug 2025

The Greater Mohali Area Development Authority (GMADA) recently concluded an e-auction that generated INR 961 crore by selling 65 out of 167 properties. Commercial properties, especially in Aerocity and Sector 78, drew strong bids, while residential plot prices showed a slight dip compared to the previous auction. Some categories, including petrol pump plots, hotel sites, and school plots, saw no interest, reflecting cautious investor sentiment. This auction highlights both the active demand in commercial real estate and the selective interest in residential and institutional plots in Mohali.Read more

21 Aug 2025

EFC India, a provider of managed office infrastructure and design services, has begun trading on the National Stock Exchange after being listed on BSE. The move is expected to improve liquidity, strengthen investor trust, and widen the company's reach. In its recent quarterly results, the firm reported nearly 200% profit growth, with operating revenue more than doubling. Seat capacity crossed 60,000, supported by rising demand from sectors such as IT/ITeS, BFSI, and e-commerce. With a strong order book, including a new INR 57 crore fit-out contract, the company is positioned for steady expansion.Read more