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When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
14 Apr 2025
Trichy Corporation has announced a 5% waiver on current property tax dues for the financial year 2025-2026 if paid by April 30, with a maximum incentive limit of INR 5,000. The scheme, enabled under Section 84(1) of the Tamil Nadu Urban Local Bodies Act, 1998, aims to boost timely tax collection from the city's 2.4 lakh property assessments. The civic body generates INR 137 crore annually, but struggles with INR 50 crore in arrears. Officials hope to replicate last year's 32% increase in early collections, allowing focus on recovering long-standing dues. Timely payment is strongly encouraged to avail the incentive.Read more
11 Apr 2025
The Belagavi City Corporation has approved a 3% increase in property tax for the financial year 2025-26. The move aims to generate revenue and improve urban infrastructure and civic amenities. This is part of the routine annual revision in line with the Karnataka Municipal Corporation Act, which allows for an increase of up to 15% every three years. The revised tax rates will be applicable from April 1, 2025, impacting both residential and commercial property owners within the city limits.
11 Apr 2025
The Nashik Municipal Corporation has served notices to 70 private developers for failing to maintain traffic islands they had agreed to develop and keep under CSR or joint development conditions. These developers were allotted islands on major roads, but many were found neglected during recent inspections. The civic body has asked them to respond within seven days or face further penalties. This step is part of a broader effort to improve road aesthetics and traffic management in the city and hold stakeholders accountable.
11 Apr 2025
Property owners in Patna are facing persistent issues in obtaining receipts and updated records for property tax payments. Several residents have reported missing receipts and unprocessed payments even after timely deposits. This has caused concern, especially during property transfers or legal verifications. The Municipal Corporation has acknowledged the problem and cited technical glitches and staff shortages. It plans to streamline its digital tax system and set up help desks to address complaints. The situation highlights the need for stronger backend systems in urban tax administration.
11 Apr 2025
Housing sales are expected to rise after the RBI cut the repo rate by 25 basis points, say real estate bodies CREDAI and NAREDCO. This move is likely to lower home loan interest rates, boosting demand for affordable and mid-income homes. CREDAI President Boman Irani said the rate cut supports growth during global uncertainty and will improve affordability. NAREDCO's G Hari Babu added that cheaper loans may increase sales, reduce unsold inventory, and encourage new project launches. Commercial real estate is also set to benefit. Housing sales had dropped in early 2025 due to high prices and fewer launches, with up to 28% declines reported in major cities.Read more
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11 Apr 2025
The Brihanmumbai Municipal Corporation (BMC) recorded its highest-ever capital expenditure of INR 36,900 crore in FY 2024-25, reflecting a 57% surge from the previous year's outlay of INR 23,520 crore. This sharp jump in spending was primarily directed toward big-ticket infrastructure projects like the Goregaon-Mulund Link Road (GMLR), the Mumbai Coastal Road, and hospital redevelopment. Simultaneously, BMC's revenue income rose to a record INR 43,847 crore, backed by strong growth in property tax and development charges. Despite the robust financials, the civic body's fixed deposits saw a slight decline due to planned drawdowns to support its infrastructure commitments.Read more
11 Apr 2025
Institutional investors are once again showing strong interest in India's residential real estate, with a sharp pivot towards mixed-use developments that combine residential, commercial, and retail spaces. Investment in this segment touched USD 191 million earlier this year, recovering from a significant drop in 2023, when inflows were limited to just USD 42 million. Major deals, including Alpha Wave Ventures' investment in Oberoi Realty and Blackstone's stake in Kolte-Patil, indicate growing confidence in the sector. The trend reflects shifting buyer preferences and urban development strategies focused on integrated, master-planned communities.Read more
11 Apr 2025
India's Finance Minister Smt Nirmala Sitharaman chaired an investor roundtable in London earlier this week, drawing participation from around 60 UK-based institutional investors, including pension funds, banks, and insurance firms. The meeting spotlighted India's reform-driven economic vision, highlighting the country's robust digital economy, rapid fintech adoption, and significant strides in the financial sector. Sitharaman promoted India as a top destination for foreign investments, underlining growth potential in banking and insurance, the global standing of its securities market, and the strategic role of GIFT-IFSC. The roundtable set the stage for deeper economic cooperation ahead of the India-UK Economic and Financial Dialogue.Read more
11 Apr 2025
hBits, a fractional ownership platform specializing in commercial real estate, has received approval from the Securities and Exchange Board of India (SEBI) to launch its Small & Medium Real Estate Investment Trust (SM REIT). The company plans to initiate its maiden SM REIT initial public offering (IPO) by June 2025 and aims to migrate its existing portfolio into this structure. hBits targets assets under management (AUM) of INR 2,000 crore by March 2026, providing retail investors access to premium-grade commercial properties with the potential for consistent income and long-term wealth creation.Read more
10 Apr 2025
The Greater Chennai Corporation has set an ambitious target of INR 500 crore in property tax collections for the current fiscal year. The civic body aims to achieve this through rigorous enforcement, digitised records, and improved taxpayer compliance. Officials are also focusing on revising property assessments and following up on defaulters. The collected funds are expected to support ongoing infrastructure and development initiatives in the city, including road repairs, waste management, and public amenities. This goal reflects Chennai's push toward financial self-reliance in civic operations.
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