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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...
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26 Mar 2025
The board of directors of Oberoi Realty had given their approval for entering into a securities subscription agreement (SSA) involving Alpha Wave Ventures II, LP, Vikas Oberoi, and I-Ven Realty. As part of this agreement, Alpha Wave Ventures II, LP had committed to subscribing to 2,77,778 Series A CCPS at INR 44,999.964 per share, along with 10 Class A equity shares priced at INR 10 each. This investment, amounting to INR 1,250 crore, represents a 21.74% stake in I-Ven on a fully diluted basis. The board had also approved I-Ven's rights issue for redeemable preference shares, intended to restructure funds and repay outstanding loans.
26 Mar 2025
The National Housing Bank (NHB) has taken strict action against housing finance companies (HFCs) for mis-selling insurance policies bundled with housing loans without adequately informing borrowers. Earlier, NHB instructed these companies to obtain explicit consent from customers and to provide insurance options from at least two providers. This move follows concerns raised in an earlier meeting this year, where NHB questioned the disproportionate insurance income in relation to the net interest income of HFCs. The regulator's inspections revealed widespread issues, including inadequate disclosures, absence of board-approved policies, and the sale of multiple unnecessary insurance products to single borrowers.
26 Mar 2025
Etonhurst Capital Partners has raised over INR 180 crore in the first closing of its INR 500 crore fund focused on redevelopment projects in Mumbai. The round saw participation from family offices, HNIs, and The Guardian Real Estate Advisory's family office. The capital will support construction, regulatory approvals, and marketing to ensure smooth project execution. With many of Mumbai's aging residential structures requiring urgent redevelopment, Etonhurst plans to deploy over 60% of the funds within the year, targeting high-demand urban zones. Registered as a Category II AIF with SEBI, the firm aims to close the fund by end-2025 and scale up to INR 2,000 crore.
25 Mar 2025
The Ghaziabad Development Authority (GDA) has introduced a special amenity fee for commercial and mixed-use properties within 500 meters of the Namo Bharat and metro corridors, under the UP Urban Planning and Development Rules 2024. This fee, set at 25% of the development charge, applies to shops, malls, and other commercial establishments near transit hubs, promoting transit-oriented development (TOD). Developers can pay in installments for plots over 10,000 sq meters, with interest rates of 12% annually and 15% penalty for late payments. The initiative aims to boost revenue and support urban infrastructure and commercial growth along key transport corridors.Read more
25 Mar 2025
The Income Tax Appellate Tribunal (ITAT), Mumbai bench, delivered a significant ruling distinguishing between legal and beneficial ownership in property transactions. In a case involving V N Jain, who was listed as a joint owner with his brother on a property sold for INR 54 lakh during the financial year 2014-15, the ITAT determined that mere inclusion of a name on the property title does not imply ownership if evidence suggests otherwise. Jain's brother had purchased and retained full rights over the property, with Jain's name added purely out of affection. The ITAT ruled that since Jain neither invested in nor benefited from the sale, he was not liable for capital gains tax. Tax experts have lauded the decision for reinforcing natural justice and protecting individuals from unwarranted tax liabilities.
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25 Mar 2025
Brigade Group has partnered with Gruhas to launch the Earth Fund, India's first SEBI-registered real estate and sustainability-focused investment platform under Zoiros Projects Private Limited. The fund, worth INR 200 crore with an additional green-shoe option of INR 100 crore, is designed to invest in early-stage startups operating in PropTech, construction, and sustainability. By combining Brigade's legacy in real estate with Gruhas' investment expertise, the Earth Fund aims to accelerate 10 to 15 innovative startups with investments ranging from USD 1-2 million. The initiative focuses on UrbanTech, climate tech, and smart infrastructure to reshape India's built environment.Read more
25 Mar 2025
The Bruhat Bengaluru Mahanagara Palike (BBMP) is set to implement a stringent penalty regime for property tax defaulters from the beginning of April. Defaulters will face a 100% penalty on unpaid dues along with an annual interest of up to 15%. This follows the expiry of relaxed provisions under the amended BBMP Act. The civic body has already collected over INR 4,600 crore in property tax for the current fiscal year, achieving 88.36% of its set target. However, with over 1.8 lakh properties still owing taxes, BBMP officials are stepping up enforcement efforts across key zones.Read more
25 Mar 2025
Hyderabad's residential property market saw a 16% year-on-year decline in registrations this February, with 5,900 units recorded compared to 7,135 units last year. The total property value also dropped by 10% to INR 3,925 crore, according to data from the Telangana Registration and Stamps Department. However, month-on-month registrations rose 10%, signaling improving buyer sentiment. The mid-segment market (INR 50 lakh-1 crore) fell by 15%, while luxury homes (INR 1 crore+) rose slightly by 1%, making up 18% of total sales. Demand shifted toward larger homes, with 67% of buyers choosing properties between 1,000-2,000 sq ft. Rangareddy and Medchal-Malkajgiri districts dominated transactions, and premium deals exceeding INR 6 crore surged in Central Hyderabad, reflecting growing luxury housing demand.Read more
25 Mar 2025
The Navi Mumbai Municipal Corporation (NMMC) has introduced the Abhay scheme, aimed at recovering outstanding water bill payments from its customers. The initiative provides a 50% discount on late fees and penalty amounts for all categories of water bill payers, including gram panchayats connected to the primary water channel between Morbe Dam and Kalamboli. The scheme is set to be implemented from 21 March 2025 to 31 March 2025, encouraging citizens to clear their dues within this timeframe. The NMMC has urged residents to take advantage of this opportunity to settle pending payments.Read more
25 Mar 2025
HDFC Capital, the private equity arm of HDFC Group, has partnered with Bengaluru-based developer Total Environment to create an INR 1,300 crore platform aimed at developing residential projects in Bengaluru. The collaboration will add 6.5 million sq ft of new housing to Total Environment's existing 16 million sq ft portfolio, with a combined gross development value of over INR 10,100 crore to be delivered over the next four to five years. This marks HDFC Capital's fourth investment in Total Environment, reinforcing its strategy of backing leading developers. The partnership focuses on sustainable greenfield projects catering to mid-income and upper-middle-income buyers, aligning with India's 'Housing for All' initiative and ongoing demand for quality homes.
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