06 May 2025

The Mysuru City Corporation (MCC) has intensified its B-Khata drive to regularize unauthorized properties and bring them under the tax net. Launched earlier this year, the initiative aims to issue temporary registrations to 27,616 such properties over the next 16 months. The drive has received a positive response, with over 2,300 B-Khatas issued so far. To ensure transparency and eliminate middlemen, MCC has implemented measures such as installing CCTV cameras and replacing officers. The initiative is expected to boost property tax revenue and streamline the registration process.Read more

05 May 2025

Uttar Pradesh Chief Minister Shri Yogi Adityanath has directed the urban development department to implement a uniform system for municipal service charges across the state. Citing inconsistencies in fees among municipal corporations, councils, and town bodies, he called for a standardised framework to ensure fairness and transparency. Currently, varying slab structures-especially in places like Fatehpur and Budaun-cause confusion and inequality. Officials have been tasked with creating a uniform rate structure to apply statewide. This move aims to streamline urban governance, eliminate arbitrary charges, and provide consistent service delivery for all residents, regardless of location. Implementation preparations are now being prioritised.Read more

05 May 2025

The Chandigarh Municipal Corporation (MC) has collected INR 7.75 crore in property tax collections for the opening month of the current financial year, driven largely by enthusiastic residential taxpayer participation. This development comes during an active rebate window offering substantial discounts to early taxpayers. The MC has also taken corrective steps to address confusion around revised tax rates by issuing updated bills. The civic body's earlier achievements, including a record-breaking INR 52.24 crore in property tax revenue in the previous fiscal year, underscore its increasingly effective revenue mobilisation strategies.Read more

05 May 2025

The Greater Hyderabad Municipal Corporation (GHMC) is considering a property tax hike for individuals and establishments that engage in illegal garbage dumping. By integrating unpaid waste disposal fines into property tax dues through a Comprehensive Challan Management System (CCMS), GHMC aims to enforce stricter compliance. The initiative includes automated penalty generation linked to Property Tax Identification Numbers (PTINs), SMS notifications, and UPI payment options. Enhanced surveillance measures, including special monitoring teams and CCTV installations, are also being implemented to identify and penalize violators.Read more

05 May 2025

Mindspace Business Parks REIT reported a 13% year-on-year increase in net operating income, reaching INR 540 crore for the quarter ended March. The company declared a distribution of INR 392 crore for the same period. For the fiscal year 2024-25, net operating income rose 8.9% to INR 2,061.6 crore, with a distribution of INR 1,312 crore, marking a 15.5% annual growth. The company achieved gross leasing of 2.8 million square feet in Q4, bringing the total for FY25 to 7.6 million square feet. Leadership changes include Ramesh Nair being appointed as CEO and Managing Director for a five-year term, effective immediately.Read more

05 May 2025

The Delhi Development Authority (DDA) has announced plans to allocate two valuable land parcels, one in Nehru Place and another in Dwarka, for the construction of five-star hotels. This move is part of the DDA's strategy to maximise revenue from underutilised land through a 55-year lease arrangement. The land, covering around 2.2 acres in Nehru Place and over 2.5 acres in Dwarka, will be developed according to the Master Plan for Delhi (MPD) 2021 and Unified Building Byelaws 2016. This forms part of DDA's broader development agenda, which includes various commercial initiatives.Read more

05 May 2025

The Prayagraj Municipal Corporation (PMC) has begun levying house tax on approximately 1.25 lakh residential buildings in newly incorporated areas like Naini, Jhunsi, Phaphamau, Jhalwa, and Bamrauli. This marks the first time these zones fall under municipal taxation, as PMC aims to formalise urban expansion and boost revenue. Residents are encouraged to complete a self-assessment process to ensure accurate billing, with physical verification to follow if needed. A 10% rebate is offered for payments made by July 31. This initiative follows low compliance in the previous year and reflects PMC's broader push to integrate peripheral areas and strengthen civic service delivery.Read more

02 May 2025

According to a recent survey conducted by the Ministry of Statistics and Programme Implementation, around 30% of private enterprises have planned to invest in upgrading their operations during FY25. The survey, covering over 3,000 enterprises, indicated a projected capital outlay of INR 6.6 lakh crore for the current fiscal year, with an expected investment of INR 4.9 lakh crore in FY26. The private sector overall capital expenditure has seen a 66.3% rise from FY22 to FY25, and the average gross fixed assets per enterprise have also steadily increased, reflecting a strong and strategic investment sentiment across industries.Read more

02 May 2025

Vishal Mega Mart’s shares surged after it reported an 88% YoY rise in net profit to INR 115.1 crore for the March quarter, driven by strong consumer demand and operational efficiency. Revenue grew 23.2% to INR 2,547.9 crore, while EBITDA rose 42.6% to INR 357 crore, with margins improving to 14%. For FY25, net profit reached INR 631.97 crore on revenue of INR 10,716.35 crore, up 36.8% and 20.2% respectively. With 668 stores, mainly in Tier-II and Tier-III cities, the company is benefiting from demand for affordable retail. Analysts remain bullish, with a ‘Buy’ rating and 16% upside potential.Read more

02 May 2025

According to the Nagpur Municipal Corporation (NMC), 4.26 lakh property owners paid INR 259 crore in property taxes in the fiscal year 2024�2025, excluding INR 50 crore from government agencies. Despite offering rebates for online payments, only 33% of taxpayers utilized digital platforms, contributing INR 88.41 crore. The remaining 67% preferred offline methods, accounting for INR 170.93 crore. Zones like Laxmi Nagar and Mangalwari led in online collections, while areas such as Hanuman Nagar and Nehru Nagar showed higher offline contributions. The NMC faces challenges in bridging the digital divide and improving tax collection efficiency.Read more