20 Jun 2025

The Maharashtra government has rolled out major financial incentives, including stamp duty concessions, to drive large-scale redevelopment and industrial housing projects across the state. Key among these is a stamp duty waiver for the Special Purpose Vehicle (SPV) overseeing the Dharavi redevelopment-one of the world's largest slum transformation efforts-applicable to all property transactions within the notified area. Separately, a 50% stamp duty concession has been granted to residential units under the Integrated Industrial Area (IIA) policy, with Pen Township in Raigad becoming the first project to benefit. These incentives aim to reduce costs, attract investment, and accelerate planned urban and industrial growth.Read more

20 Jun 2025

Knowledge Realty Trust (KRT), a joint venture between Sattva Group and Blackstone, has raised INR 1,400 crore from family offices and HNIs ahead of its INR 6,200 crore IPO. The trust, which recently filed its DRHP with SEBI, manages 30 premium office assets across India's top metros, totalling 48 million sq. ft.-37 million of which is already completed and 90% leased. With an estimated asset value of INR 60,000 crore, KRT is set to become India's largest REIT by Net Operating Income and asset base. This marks the fifth REIT listing in India and Blackstone's fifth public real estate offering in the country.Read more

20 Jun 2025

Artificial intelligence investments are thriving even as global trade faces fractures and cross-border capital flows slow down, according to Moody's Analytics. The report revealed that developed and emerging economies in East and Southeast Asia, particularly India, Singapore and Malaysia, are fast becoming focal points for AI-related infrastructure. These nations are attracting major global investors eyeing data centre development and semiconductor manufacturing. With strong policy support, cost advantages and robust demand, these regions are establishing themselves as key tech investment hubs amid a shifting geopolitical and economic landscape.Read more

19 Jun 2025

The Nagpur Municipal Corporation (NMC) has seen a 28% jump in property tax collections this financial year, thanks to a rebate scheme encouraging early payments. By June 11, NMC collected INR 45.33 crore from 1.16 lakh property owners-up from INR 35.47 crore and 85,581 taxpayers in the same period last year. The scheme offers a 15% discount for online payments and 10% for offline ones made by June 30. Reduced rebates apply for payments until December 31. Laxmi Nagar zone led collections, while zones like Dhantoli and Gandhibagh lagged slightly. The increased revenue will help NMC strengthen city services and meet its annual tax targets.Read more

19 Jun 2025

The Mumbai Metro Rail Corporation Limited (MMRCL) has released long-pending payments to contractors working on Metro Line 3, resolving a standstill caused by a property tax dispute with the BMC. The issue revolved around BMC's tax claims on casting yards, which contractors like Dogus Soma JV, CEC-ITD JV, L&T STEC JV, and HCC argued were exempt under Section 184 of the Railways Act, 1989. The Bombay High Court provided interim relief in April 2024, halting any forceful tax recovery. With no new recovery notices issued and undertakings now secured, MMRCL has resumed disbursing funds to maintain construction progress.Read more

18 Jun 2025

Delhi's government has launched a fresh initiative to revise circle rates across residential, commercial, and industrial zones. A committee, headed by the divisional commissioner, has been constituted to study the wide discrepancies between notified and prevailing market rates. The circle rates have remained static since 2014, barring a brief reduction during the pandemic. This review is part of a broader push to streamline construction approvals, boost green infrastructure, and regularise unauthorised colonies. The move is expected to improve transparency in transactions and strengthen non-GST revenue channels for the state.Read more

18 Jun 2025

In a bid to boost revenue, the Municipal Corporation of Gurugram (MCG) has issued recovery notices to 35 major defaulters owing INR 3.6 crore, as part of a wider drive covering 69 defaulters with total dues of INR 18.2 crore. So far, MCG has collected INR 232.9 crore of its INR 275 crore property tax target for FY 2025-26. A 10% rebate is being offered for full payments made by July-end, along with a No-Dues Certificate. Delays may attract 18% annual interest, sealing, or even auction of properties. Help desks have been set up to address issues like fake receipts, ID mismatches, and data verification.Read more

18 Jun 2025

Cornerstone has secured a INR 1,700 crore term sheet from Kotak Alternate Asset Managers via structured non-convertible debentures to fund Bengaluru-based projects. The capital will support six residential projects in East Bengaluru, two commercial ventures centrally, and land consolidation in the north. This funding move helps Cornerstone manage its ongoing dispute with L&T Finance, which had disbursed INR 835 crore of a INR 1,285 crore sanction, yet recovered around INR 1,400 crore. A recent ARCIL notice triggered legal action, with the Karnataka High Court granting interim relief. With court protection and negotiations underway, Cornerstone is progressing on title clearances and project execution.Read more

18 Jun 2025

Jio BlackRock Mutual Fund, a joint venture between Jio Financial Services Ltd (JFSL) and US-based BlackRock, has officially introduced BlackRock's proprietary Aladdin platform in India. Aladdin, a globally used investment analytics and risk management system, is being made available to Indian investors for the first time. The platform's launch follows the company's receipt of SEBI's asset management licence in the past few weeks. Positioned to blend Jio's digital-first philosophy with BlackRock's global investment prowess, the venture aims to simplify, democratise, and transform investment practices for Indian retail investors.Read more

17 Jun 2025

Raymond Ltd has announced that Raymond Realty Ltd, its real estate arm, will be listed on Indian stock exchanges in Q2 of the current financial year. The move follows a completed demerger, effective from May, which grants Raymond shareholders one share in Raymond Realty for each share held. With property sales reaching INR 2,310 crore last year, the realty division now operates as a standalone entity. This follows a similar listing of Raymond's lifestyle business in 2024. Backed by strong profits and a strategic focus on core sectors, the group aims to unlock value and strengthen its position in India's growing property market.Read more