28 Apr 2025

Earlier this week, the Chandigarh administration announced a reduction in the proposed property tax hike after facing significant public opposition. The initial proposal had suggested an increase of up to 30% in property tax rates. However, following widespread protests and concerns from residents and various stakeholders, the administration reconsidered the hike. The revised proposal now includes a more moderate increase, aiming to balance the city's revenue needs with the financial burden on property owners. This decision reflects the administration's responsiveness to public concerns and its commitment to equitable urban governance.Read more

28 Apr 2025

Bajaj Housing Finance reported a 54% rise in FY25 net profit to INR 587 crore, driven by strong demand for home loans and a 26% surge in AUM to INR 1.14 trillion. Q4 disbursements rose 34%, while GNPAs remained steady at 0.29%. CEO Atul Jain cited growing preference for affordable homes in Tier I and II cities and hinted at a stock split and bonus issue. Meanwhile, India's life insurers saw a 5% rise in new business premiums to INR 3.97 lakh crore, with LIC's market share slipping slightly. Private insurers showed resilience amid tax changes and IRDAI-driven commission reforms.Read more

25 Apr 2025

Pune's real estate sector experienced unprecedented growth in March 2025, with property registrations reaching 24,430 units, a 10% increase from the previous year. Stamp duty collections soared to inr 924 crore, marking a 12.4% rise. This surge is attributed to stable economic conditions, infrastructure development, and robust homebuyer sentiment. Central Pune dominated residential transactions, accounting for 76% of the market share. The demand for larger apartments also saw a significant uptick, reflecting evolving buyer preferences.Read more

25 Apr 2025

In a landmark ruling, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) declared that a flat worth INR 2.6 crore received by an individual as compensation for vacating land during a redevelopment project is a non-taxable capital receipt. The case involved a legal settlement between the individual and a redeveloper over a South Mumbai property. Tax authorities had initially treated the flat's value as taxable income, but the ITAT overturned this view, citing the nature of the compensation as a resolution to a land-related nuisance, thereby excluding it from the individual's taxable income.Read more

25 Apr 2025

In fiscal year 2024-2025, the Delhi Development Authority (DDA) recorded a record surplus of INR 1,371 crore, its second year in a row of positive revenue. This financial upswing follows a significant shift in strategy under Lieutenant Governor V.K. Saxena's leadership, focusing on reducing unsold housing inventory and enhancing the appeal of its housing schemes. Key initiatives included transitioning from a lottery-based allocation to a first-come-first-served model and lifting the requirement for applicants to own property in Delhi. The Narela sub-city emerged as a focal point, with over 8,500 flats sold, contributing more than INR 3,100 crore in revenue. Overall, housing collections in the past two years totaled INR 5,574 crore, surpassing the combined collections of the previous eight years.Read more

25 Apr 2025

The Vadodara Municipal Corporation (VMC) has announced a property tax rebate initiative aimed at encouraging timely payments. Property owners who settle their dues by May 23, 2025, will receive a 10% rebate on residential properties and a 5% rebate on non-residential properties. An additional 1% rebate is offered for online payments, promoting digital transactions. While online payments are incentivized, offline payments remain accepted without the extra 1% discount. This move aligns with VMC's ongoing efforts to streamline tax collection and reduce arrears.Read more

25 Apr 2025

India's real estate sector attracted USD 26.7 billion in equity inflows between 2022 and 2024, with Mumbai leading at USD 6.9 billion, according to a CII-CBRE report. Delhi-NCR and Bengaluru followed, with the three metros accounting for 62% of total investments. Land and development sites drew the highest share at 44%, while built-up office assets secured 32%. Tier-II cities gained traction, attracting USD 3 billion, driven by industrial growth and infrastructure upgrades. Institutional investors contributed 33% of the capital. With strong fundamentals and ongoing reforms, the sector is poised for sustained growth, appealing to a diverse mix of global and domestic investors.Read more

25 Apr 2025

Mumbai-based VC firm A91 Partners has closed its third fund at USD 665 million, reaffirming its focus on growth-stage investments in Indian startups across consumer, healthcare, financial services, and industrial sectors. Founded in 2018 by ex-Sequoia Capital India executives, the firm typically invests USD 50 million in expansion-ready ventures, with past bets on Digit Insurance, Atomberg, and Push Health. A91's latest fund signals investor confidence in India's long-term potential, despite recent funding slowdowns. The move aligns with a broader trend of successful VC fundraising, including Accel's USD 650 million Fund VIII and Stellaris USD 300 million fund, highlighting ongoing momentum in India's startup ecosystem.Read more

25 Apr 2025

The IMF has revised India's FY26 GDP growth forecast down to 6.2% from 6.5%, citing global trade tensions, slower global growth, and tighter financial conditions. Despite the cut, India remains one of the fastest-growing major economies, with FY25 growth pegged at 6.8%, driven by consumption and infrastructure spending. The real estate sector continues to support urban demand, with housing launches and commercial leasing rising. However, the IMF warns of volatile capital flows and geopolitical risks. Inflation is projected at 4.6% for FY26, within RBI's target range. Developers may defer luxury launches, but affordable housing pipelines stay strong amid stable domestic fundamentals.Read more

24 Apr 2025

India's real estate market registered a robust start in the first quarter of 2025, with 28 deals totalling USD 1.2 billion, according to Grant Thornton Bharat's latest 'Real Estate/REITs Dealtracker' report. The surge, despite subdued IPO and QIP activity, marked a 133% increase in deal volume and over five-fold growth in value compared to the same period last year. Private equity and venture capital played a dominant role, contributing 17 deals worth USD 1.05 billion, while 11 M&A transactions accounted for USD 137 million. Emerging SM REITs also gained traction during the quarter.Read more