26 Jun 2025

An audit by Gurugram's Municipal Corporation (MCG) uncovered that ownership details for 34 properties-owing INR 97.2 crore in property tax-are missing, making recovery legally impossible. The city's total outstanding property tax has surged to INR 280.6 crore, with additional arrears in fire tax (INR 18.4 crore) and development charges (INR 35.6 crore). Amid criticism at a recent MCG House meeting, officials vowed to retrieve records from the revenue department and pursue legal recovery. To improve collections, the MCG is conducting door-to-door surveys, hosting correction camps, and enhancing its online system to ensure accurate records and close the revenue gap.Read more

26 Jun 2025

In a string of notable developments across finance, insurance, and FMCG, Bajaj Finserv introduced a new small-cap fund aimed at quality investments amid market corrections, with its offer window approaching soon. ICICI Prudential Life rolled out a youth-focused market-linked plan, while Walko Food Company forayed into the artisanal dessert space by acquiring Meemee's Ice Creams. Meanwhile, Aseem Infrastructure Finance raised USD 80 million through its first external commercial borrowing and green loan, with DBS Bank leading the transaction from GIFT City.Read more

26 Jun 2025

Real estate firm Signature Global will raise up to INR 875 crore through secured, listed non-convertible debentures (NCDs) via private placement. The move, approved by the board, also includes a postal ballot to seek shareholder approval for increasing borrowing limits, creating securities, and amending the Articles of Association. Based in Gurugram, Signature Global ranked fifth among listed developers by sales bookings last year, posting INR 10,290 crore in FY24 sales. With a target of INR 12,500 crore in pre-sales for FY25, the company is doubling down on affordable and mid-income housing in the NCR, buoyed by strong post-IPO momentum and market confidence.Read more

26 Jun 2025

HDB Financial Services HDFC Bank's NBFC arm launched a landmark INR 12,500 crore IPO with a strong anchor book subscription of INR 3,369 crore at the top of the price band. Public interest surged, yet only about 1% was subscribed on day one, while the GMP hit 10%, reflecting strong market optimism. The company's robust financial base, vast branch network beyond metro areas, and strategic pricing referencing peer valuations underpin the IPO's broad appeal.Read more

26 Jun 2025

The Chandigarh UT administration has set a reserve price of INR 11,850 per sq yd for auctioning nearly 7 acres of land in Manimajra, aiming to revive its land monetisation strategy. The plots, spanning residential, commercial, and institutional use, will be auctioned online, with residential plots 1-5 offered on a freehold basis and others on a 99-year leasehold. The administration has also sought Union Cabinet approval to allot land at collector rate for constructing 3,930 self-financed apartments for UT employees. The Municipal Corporation expects to generate over INR 400 crore from an upcoming auction in nearby pocket 6.Read more

26 Jun 2025

Incuspaze has acquired co-working startup Trios in an all-cash-and-equity deal, expanding its footprint in Pune and boosting its revenue target of INR 350-400 crore for FY25. The deal adds 12 new centres-10 in Pune and 2 in Gurugram-bringing Incuspaze's total to over 50 centres across 18 cities and 4 million sq ft. Trios' founding team will continue in leadership roles, ensuring service continuity and client retention. The acquisition supports Incuspaze's broader growth strategy ahead of a planned INR 215 crore pre-IPO fundraise and future public listing. Trios' strong local presence and corporate clientele make the deal a strategic fit for national expansion.Read more

26 Jun 2025

MO Alternates, the alternative investment arm of Motilal Oswal, has fully exited all 14 investments under its India Realty Excellence Fund II (IREF II), realising INR 1,050 crore and delivering an 18.3% gross IRR. Launched with a INR 489 crore corpus, IREF II focused on structured capital in mid-income housing projects across urban centres. Including reinvestments, the fund deployed INR 680 crore. The exits, completed last week, underscore the firm's strong asset management and timely exit strategy.Read more

26 Jun 2025

Adani Group plans to invest USD 15-20 billion annually over the next five years to fuel its next growth phase, Chairman Gautam Adani announced at the group's AGM. The company aims to reach 100 GW power capacity by 2030 across renewables and conventional sources, while also expanding in ports, airports, data centres, cement, gas, and energy. Despite scrutiny from US authorities, Adani assured investors of strong financials, reporting INR 2.71 lakh crore in revenue and an 8.2% rise in EBITDA. Key projects include the 50 GW Khavda renewable park, smart metering initiatives, Navi Mumbai Airport, and the transformative Dharavi redevelopment project.Read more

25 Jun 2025

Mumbai, long regarded as India's most expensive housing market, has witnessed a slight improvement in affordability for the first time, following a cumulative 100 basis point reduction in the RBI's repo rate since February. Knight Frank India's latest Affordability Index reveals Mumbai's EMI-to-income ratio dropped to 48%, just below the 50% unaffordability threshold. While affordability improved across most major cities, Delhi-NCR saw a minor dip, and Bengaluru and Hyderabad remained unchanged. Experts believe the softer home loan rates will boost buyer sentiment and potentially drive up sales.Read more

25 Jun 2025

A commercial land parcel in Gachibowli, Hyderabad fetched an impressive INR 2.2 lakh per square yard during a government auction held this past week, closing at a total value of INR 33 crore. A second plot in the same locality was snapped up for INR 11 crore, underlining the growing investor interest in this prime zone. The Telangana Housing Board's auction, which also included land parcels in Chintal, Nizampet, and other locations, amassed a total of INR 65 crore. The surge reflects Hyderabad's upward trajectory in high-value real estate, especially in commercial segments.Read more