24 Jul 2025

Urban local bodies across Uttar Pradesh have initiated a significant house tax recovery drive from July 15 to July 31 that aims to collect pending dues from over 55 lakh properties in 17 major cities. This intensive campaign targets an ambitious revenue of INR 1,862 crore, building on a robust 21% growth in consolidated revenue to INR 5,568 crore in the 2024-25 financial year. The initiative, crucial for funding civic services and urban development, also addresses property owners' grievances stemming from recent GIS-based tax revisions.Read more

23 Jul 2025

Motilal Oswal Alternates (MO Alternates), the alternative investments arm of Motilal Oswal Group, has successfully raised INR 2,000 crore for its sixth real estate fund, the Indian Realty Excellence Fund VI (IREF-VI). The capital, garnered from a diverse investor base including family offices, Indian High Net Worth Individuals (HNIs), and offshore investors via the GIFT City route, has already seen about 75 percent allocated across 15 real estate projects. Primarily focused on mid-income residential developments in major Indian cities, the fund has already achieved its first exit, reflecting MO Alternates' robust investment strategy and growing real estate AUM exceeding INR 10,000 crore.Read more

23 Jul 2025

B L Kashyap & Sons Ltd. (BLK), a prominent Engineering, Procurement, and Construction (EPC) firm, has secured a significant order valued at INR 910 crore (excluding GST) from BPTP Limited. This substantial contract involves the construction of civil structures for residential towers, associated non-tower areas, and crucial community infrastructure in Gurugram. The project, expected to span approximately 36 months, signals a renewed collaboration between the two companies. This reinforces trust in BLK's capabilities and its commitment to high-standard project delivery within Gurugram's dynamic real estate market.Read more

23 Jul 2025

IndiQube Spaces has mobilised over INR 314 crore through anchor investors prior to its initial public offering (IPO). Key investors include Aditya Birla Sun Life MF, WhiteOak MF, and international entities such as BNP Paribas and Societe Generale. Shares were allotted at INR 237 each to 29 funds. The Bengaluru-based workplace solutions firm aims to raise INR 700 crore through the IPO, which includes a fresh issue of INR 650 crore and an INR 50 crore Offer for Sale. The capital will fund expansion, debt repayment, and corporate operations.Read more

23 Jul 2025

A recent Comptroller and Auditor General (CAG) report has revealed that 40 private developers in Mumbai collectively owe INR 261.14 crore to MHADA for transit tenements provided during redevelopment projects spanning 25 years. These temporary housing units were meant for residents displaced from old or slum structures, with developers required to pay advance rent and a security deposit. Of the 43 developers allotted 3,357 transit units, only three have cleared dues. The report highlights ongoing financial irregularities and poor compliance in Mumbai's real estate sector.Read more

23 Jul 2025

NLC India Renewables Limited (NIRL), the green energy arm of government-owned NLC India, is set to launch an Initial Public Offering (IPO) aiming to raise INR 4,000 crore. This capital infusion will support NIRL's ambitious expansion plans to achieve 10 GW of green energy capacity by 2030, with a long-term target of 32 GW by 2047. The move, bolstered by a recent Cabinet Committee on Economic Affairs (CCEA) approval granting NLC India significant investment flexibility, aligns with India's broader national goals of achieving 500 GW of non-fossil fuel energy by 2030 and net-zero emissions by 2070.Read more

23 Jul 2025

Telangana's Indiramma housing programme is facing hurdles as the Centre withholds PMAY-Gramin funds due to missing Aadhaar-based live facial authentication for 19.5 lakh rural beneficiaries. The biometric process is a key eligibility step under revised PMAY-G norms. Despite launching construction for 1.5 lakh homes, Telangana must complete these uploads by month-end to restore central funding. Meanwhile, the state is using its own funds to continue work, with INR 1.5 lakh earmarked per unit. In contrast, Telangana's PMAY-Urban progress remains strong-1.13 lakh units were approved and INR 1,500 crore released earlier this year, contributing to its broader five-year goal of 20 lakh homes.Read more

23 Jul 2025

Housing societies across Maharashtra are in limbo over the non-agricultural (NA) tax, despite a state cabinet decision to abolish it for residential areas within municipal limits. Without a formal government resolution (GR), the waiver remains unenforceable. Revenue authorities continue to issue tax demand notices-over 300 in Pune alone-leaving societies burdened by penalties and legal threats. The NA tax, a colonial-era levy on land converted from agricultural to residential use, was expected to be scrapped last year. Divided over whether to pay or wait, many societies and welfare associations are urging the government to act. Officials cite election-related delays for the holdup.Read more

22 Jul 2025

Kalpataru Ltd has recorded its highest-ever annual pre-sales, touching INR 4,531 crore for the financial year ending March 2025, reflecting a 41% increase over the previous year. The surge was driven by robust demand across the residential segment, launch of seven new projects totalling 6.5 million sq. ft., and two major redevelopment agreements worth INR 2,100 crore in gross development value. With its successful IPO in June, which raised INR 1,590 crore, the company significantly reduced its debt and reported a strong rebound in net profit. Its focus remains on the Mumbai Metropolitan Region and Pune its key growth markets.Read more

22 Jul 2025

Lodha Developers Ltd. has raised INR 350 crore through non-convertible debentures (NCDs) via private placement, aiming to support its ongoing business expansion. This follows an earlier INR 300 crore NCD issue in July, reflecting the company's steady capital-raising strategy. NCDs are fixed-income instruments that help firms raise funds without diluting equity. Lodha, formerly Macrotech Developers, is a major player in India's real estate market, with a strong presence in Mumbai, Pune, and Bengaluru. Its diverse portfolio spans residential housing, office spaces, malls, and industrial parks. The latest funding round highlights Lodha's focus on scaling its projects and maintaining growth momentum.Read more