07 Aug 2025

The Lucknow Development Authority moved proposals to increase development charges and special amenity fees for properties within a 500 metre radius of major expressways like Shaheed-Path, Kisan-Path and the Green Corridor. Funds from these hikes will be earmarked for infrastructure and civic upgrades. Additional plans include new housing schemes, land-use conversions, land allocations for e-auto charging stations and a PPP bus terminal, and digitisation and financial borrowing proposals. All key ongoing housing and expansion projects, including those at Anantnagar, IT City and Kamdhenu Nagar, feature in the agenda.Read more

06 Aug 2025

Non-banking financial companies (NBFCs) have urged the Reserve Bank of India (RBI) to reconsider the current risk weights applied to loans against property, stating these loans are significantly more secure than unsecured lending. They argued that such loans are asset-backed and pose a lower credit risk, yet face disproportionately high capital provisioning requirements compared to home loans. NBFCs also pointed out regulatory inconsistencies in recovery rights and loan classification norms that they believe place them at a competitive disadvantage.Read more

06 Aug 2025

Mindspace Business Parks REIT reported a 24.2 % rise in net operating income to INR 616 crore in the first quarter of FY26, backed by strong leasing activity of 1.7 million sq ft and stable occupancy levels. Net consolidated profit grew over 21 % to INR 166.8 crore, while total income rose by nearly 18 % to INR 754.8 crore. The REIT acquired two office assets one in Pune and another in Hyderabad and declared a distribution of INR 5.79 per unit. Debt cost reduced during the quarter, and new leadership appointments were also announced.Read more

06 Aug 2025

Realty firm Prestige Estates Projects Ltd announced that its consolidated net profit increased by 26% to INR 292.5 crore in the first quarter of this fiscal year. This robust performance was complemented by a four-fold jump in sales bookings, which reached an all-time high of INR 12,126.4 crore, primarily driven by exceptional demand for its residential project in Ghaziabad. The company's total income also saw a significant rise to INR 2,468.7 crore, highlighting a strong start to the new fiscal year and a successful strategic expansion into North India.Read more

06 Aug 2025

Sri Lotus Developers and Realty made a strong stock market debut, listing at over 19% above its issue price of INR 150. Shares opened at INR 179.10 on the BSE and INR 178 on the NSE, later trading near INR 183. Backed by Bollywood celebrities and investor Ashish Kacholia, the company now holds a market valuation of INR 8,971 crore. Its INR 792 crore IPO, fully fresh issue, was oversubscribed 69 times. Promoted by Anand Kamalnayan Pandit, the firm focuses on luxury redevelopment projects in Mumbai's western suburbs. IPO proceeds will fund developments like Amalfi, The Arcadian, and Varun, alongside corporate growth needs.Read more

06 Aug 2025

Highway Infrastructure Ltd's initial public offering saw an enthusiastic response, getting fully subscribed within hours of opening. With total bids exceeding 11.97 crore shares well over the 1.60 crore shares on offer the IPO was subscribed 7.47 times. Retail investors and non-institutional investors led the charge, with strong demand also reflected in the anchor investor segment. The company has already secured INR 23.4 crore from anchor investors including HDFC Bank and Abans Finance Pvt Ltd. The issue, set to close later this week, is aimed at raising funds for working capital and corporate needs.Read more

06 Aug 2025

Ummeed Housing Finance Pvt Ltd (UHFPL), based in Gurugram, has secured INR 250 crore from British International Investment (BII), the UK government's development finance arm. The funding will expand access to long-tenure, low-cost housing loans for India's low-income population, with a focus on underserved and women borrowers. The investment, classified as a 2X initiative, is expected to benefit around 3,000 women and boost financial inclusion. UHFPL, which manages assets over INR 2,400 crore and has served 33,000+ customers, aims to improve homeownership and living standards. Both organisations emphasised alignment with India's 'Housing for All' mission.Read more

06 Aug 2025

Chhatrapati Sambhajinagar Municipal Corporation (CSMC) has expanded its property tax amnesty scheme 'Shasti Se Azaadi' to cover commercial, industrial, and other property types, in addition to residential ones. Taxpayers who clear all outstanding dues in a single payment by mid-August will receive a 95% waiver on penalty charges, while those paying between mid-August and mid-September will get a 75% waiver. The revised scheme is expected to help CSMC improve its revenue collection, which stood at INR 157.7 crore in property tax and INR 26.3 crore in water tax in the last financial year.Read more

06 Aug 2025

Tata Capital has updated its draft papers for an upcoming IPO that could raise up to USD 2 billion, valuing the non-banking financial company at around USD 11 billion. The offering comprises a fresh issue of 21 crore equity shares and an Offer For Sale (OFS) of 26.58 crore shares. Tata Sons and International Finance Corporation will be selling 23 crore and 3.58 crore shares respectively under the OFS. The IPO proceeds will be used to strengthen the company's Tier-1 capital base and support future lending requirements.Read more

06 Aug 2025

Ludhiana's one-time settlement scheme for property tax defaulters has been extended until mid-August, allowing payments of outstanding dues without penalty or interest. Initially launched in May, the scheme received a lukewarm response but saw a spike in participation closer to the original deadline. The extension follows increasing public footfall and growing collections, which have reached around INR 15 crore so far. The total property tax collection for the current fiscal has touched nearly INR 40 crore. Suvidha Kendras have been operating on weekends to handle the rising number of taxpayers.Read more