22 Jul 2025

The Municipal Corporation of Delhi (MCD) has conducted 2,333 property tax camps across 12 zones under the SUNIYO scheme, aimed at boosting compliance and offering relief to property owners. With over 59,000 taxpayers already availing benefits, the initiative has generated INR 145.19 crore in collections. The scheme grants a full waiver on interest and penalties for dues predating FY 2020-21, provided the principal tax for FY 2025-26 and the previous five years is cleared. A 10% rebate on lump sum payments for FY 2025-26 remains available until the end of July.Read more

22 Jul 2025

Brigade Enterprises Ltd has acquired a 20.19-acre plot in the Whitefield-Hoskote corridor of Bengaluru for INR 588.33 crore to develop a residential-cum-commercial project with a 4.2 million sq ft development potential. The company anticipates revenue of INR 5,200 crore from the project. Positioned as a landmark development, the project forms a part of Brigade's ongoing growth strategy in South India, where the firm already holds a strong presence.Read more

22 Jul 2025

Mohali district's municipal bodies have witnessed an exceptional surge in property tax collections under the ongoing One-Time Settlement (OTS) scheme, bringing in INR 11.43 crore within just 19 days. This drive, initiated to recover pending dues with penalty waivers, saw Zirakpur contribute the highest at INR 7.53 crore, followed by Kharar and Derabassi. In an effort to facilitate taxpayer convenience, municipal offices remained open over weekends. Officials confirmed that the scheme offers full and partial penalty waivers based on payment timelines. This performance reflects growing public responsiveness and an efficient urban governance framework.Read more

22 Jul 2025

Sweden-based EQT has completed its INR 1,750 crore (USD 210 million) acquisition of Niwas Housing Finance, formerly Indostar Home Finance. EQT will also inject INR 500 crore in growth capital to aid Niwas's expansion across India and enhance its digital infrastructure. Focused on affordable housing loans in tier 2-4 cities, Niwas has supported over 47,000 low-income homeowners and manages assets worth over INR 3,000 crore. EQT aims to scale the company to assist 1.5 lakh families by 2029. This move deepens EQT's presence in India's retail lending sector, following its investment in Credila, and marks a new chapter in Niwas's growth journey.Read more

21 Jul 2025

Brigade Hotel Ventures Ltd, a subsidiary of Brigade Enterprises Ltd, is set to launch an initial public offering worth INR 749.6 crore. The offering, entirely a fresh issue with no offer-for-sale component, aims to raise capital for debt repayment, land acquisition from the promoter company BEL, and strategic expansion. The firm operates nine hotels across South India and GIFT City through partnerships with hospitality brands like Marriott, Accor, and IHG. Equity shares were earlier placed with 360 ONE Alternates Asset Management, raising INR 126 crore.Read more

21 Jul 2025

Aurum PropTech has received regulatory clearance from SEBI to launch its Small and Medium Real Estate Investment Trust (SM-REIT), making it the first publicly listed Indian firm to secure such certification. The SM-REIT, registered as AMSA SM REIT Investment Trust, will be listed on stock exchanges, offering retail investors fractional ownership in income-generating premium office assets. The firm plans to roll out its first scheme shortly, with several high-yield commercial properties under evaluation. Aurum PropTech reported a total income of INR 284.98 crore for FY 2024-25.Read more

21 Jul 2025

Flexible workspace provider IndiQube Spaces is set to launch its INR 700 crore IPO from July 23 to 25, with a price band of INR 225-INR 237 per share, valuing the company at nearly INR 5,000 crore. The IPO includes a fresh issue of INR 650 crore to fund new centers (INR 462.6 crore), repay debt (INR 93 crore), and support general corporate needs. An additional INR 50 crore will be raised via an Offer For Sale by promoters, while investor WestBridge Capital retains its stake. With 115 properties across 15 cities and a FY25 income of INR 1,103 crore, IndiQube's shares will list on BSE and NSE on July 30.Read more

21 Jul 2025

In a first, the National Housing Bank (NHB) has released the names of 48 housing finance companies (HFCs) that received refinance in the past financial year, including LIC Housing Finance, PNB Housing Finance, and Piramal Capital. This move aims to enhance transparency and prevent misuse of NHB's name. It follows concerns over Aviom India Housing Finance, which allegedly used outdated NHB sanction letters to mislead lenders. NHB has also tightened refinance norms for under-construction housing loans, now requiring third-party checks to ensure projects are below 50% completion before disbursal. These steps signal a stronger regulatory stance on financial discipline and sector integrity.Read more

21 Jul 2025

In a significant financial achievement, Mumbai's civic administration has for the first time collected INR 269 crore in property tax from businesses operating within slum areas. This groundbreaking collection, stemming from the current fiscal year, marks a notable success in the Brihanmumbai Municipal Corporation's (BMC) efforts to tap into previously unassessed revenue streams. The initiative targets commercial establishments in informal settlements, which had largely remained outside the property tax net, and is part of a broader drive to formalize and bring more properties across the bustling city under taxation.Read more

20 Jul 2025

Indian Hotels Company Ltd (IHCL), part of the Tata Group, has invested over INR 165 crore in its subsidiary ELEL Hotel and Investment Ltd to support the development of the upcoming Taj Bandstand hotel in Mumbai. The capital infusion involved acquiring more than 3.3 lakh equity shares through a rights issue, with each share priced at INR 5,000. ELEL holds leasehold rights to the iconic Bandstand land parcel in Bandra, where the new luxury property will be built. This move highlights IHCL's focus on expanding its premium hotel footprint in major cities and reinforces its long-term commitment to luxury hospitality in top-tier urban locations.Read more