11 Mar 2025

The Navi Mumbai Municipal Corporation (NMMC) has launched Abhay Yojana, offering a 50% concession on late penalty charges for property tax defaulters who clear their dues between March 10-31, 2025. However, only full payments qualify for the discount. Amidst ongoing legal action against defaulters, NMMC has also introduced the Bharat Bill Payment System (BBPS) to simplify tax payments. Citizens can now pay via UPI, online banking, debit/credit cards, and mobile wallets through the NMMC website and mobile app. A 24/7 helpline (022-62531727) has been set up for assistance. These initiatives aim to boost tax collection, improve transparency, and enhance civic administration.Read more

11 Mar 2025

Oaktree Capital Management, a leading global investment firm, has opened a new office in Hyderabad's HITEC City, highlighting its commitment to India and its skilled workforce. The expansion aims to strengthen operations and service delivery. Co-Chairman Howard Marks praised Hyderabad's business environment and talent pool. Oaktree, a major investor in India's private credit space, has deployed over $4 billion since 2018. The Hyderabad office is its second in India, following Mumbai's 2023 launch. With $202 billion in assets under management, Oaktree operates in 24 global cities, focusing on credit, equity, and real estate investments.Read more

10 Mar 2025

The Chhattisgarh budget 2025, presented by Finance Minister OP Choudhary, has been praised by the Chhattisgarh Chamber of Commerce and Industries (CCCI) for its pro-business approach. The budget allocates INR 1,420 crore for industrial subsidies and removes the cess on stamp duty to boost the real estate sector. VAT dues up to INR 25,000 for long-pending cases will be waived, benefiting 40,000 traders. Additionally, concessional land for the Chamber's new office and INR 1 per liter petrol price reduction aim to improve business conditions. These reforms mirror successful policies in Uttar Pradesh, Maharashtra, and Gujarat, promoting economic growth and investment.Read more

10 Mar 2025

The Indore district administration has intensified its crackdown on land diversion tax defaulters, sealing properties of major offenders. Vidyut Mittal's office in Mhowgaon was sealed over INR 18 lakh unpaid tax, while Shobhit Shanti Niketan Farmhouse in Jhalaria faced similar action for INR 2 lakh dues. With a target of INR 120 crore for the financial year, only INR 45 crore has been collected so far, prompting stricter enforcement. Officials warn further property seizures if dues remain unpaid. This aggressive tax recovery drive reflects the administration's firm stance on compliance and revenue collection to meet fiscal goals.Read more

10 Mar 2025

The Municipal Corporation of Gurgaon (MCG) will conduct a door-to-door property ID survey to correct errors from a flawed private agency survey done three years ago. Thousands of residents faced tax discrepancies, delaying payments and transactions. Commissioner Ashok Kumar Garg has ordered quick resolution of pending objections and strict action against delays. In January, disciplinary action was taken against an official for eight months of inaction on a correction request. With Gurgaon and Faridabad accounting for 30% of Haryana's 74,227 property ID disputes, this fresh survey aims to ensure accuracy and tax compliance.Read more

10 Mar 2025

The Ludhiana Municipal Corporation is intensifying efforts to meet its property tax collection goal before the fiscal year ends. The original INR 200 crore target was lowered to INR 154 crore, with INR 134 crore collected so far. Officials are contacting defaulters and warning of penalties doubling from 10% to 20% plus interest for non-payment. Despite these measures, many property owners remain reluctant, hoping for a one-time settlement. Mayor Inderjit Kaur has urged citizens to pay taxes to support civic services. The drive's success will shape next year's INR 160 crore tax target and municipal funding.Read more

07 Mar 2025

Tata Katcon Exhaust Systems has leased 77,800 sq ft of industrial space in Chakan, Pune, from Malpani Group for 10 years, starting this month. This follows Tata Toyo Radiator's similar lease last year. The rental is INR 29 per sq ft, with a five-year lock-in. Malpani Group is expanding its industrial park footprint, adding 3 million sq ft in Chakan. India's industrial park demand is rising due to industrial growth, government incentives like Make in India and PLI schemes, and infrastructure improvements under PM Gati Shakti, boosting demand for well-connected industrial spaces.Read more

07 Mar 2025

Bollywood actor Shakti Kapoor has sold his Juhu apartment for INR 6.11 crore, as per property registration documents. The 881 sq. ft. apartment in Silver Beach Heaven Co-operative Society was bought by Bengaluru-based Satish Venkatesh and Archana Taneja. The transaction was registered earlier this week, with a stamp duty of INR 36.66 lakh. This sale follows Kapoor and his daughter Shraddha Kapoor's recent purchase of a luxury apartment worth INR 6.24 crore in Piramal Mahalaxmi South Tower, Mumbai. Juhu remains a top choice for Bollywood celebrities, offering premium amenities and strong connectivity.Read more

07 Mar 2025

The Securities and Exchange Board of India (SEBI) has permitted all non-banking financial companies (NBFCs), including housing finance companies (HFCs), to invest in security receipts (SRs) issued by Asset Reconstruction Companies (ARCs). This decision expands the pool of qualified buyers, previously limited to select NBFCs. The move is expected to enhance liquidity in the distressed asset market. However, SEBI has imposed conditions to prevent defaulting promoters from regaining access to these assets. The decision follows recommendations from a 2021 RBI committee, which proposed broadening investment eligibility in ARCs.Read more

07 Mar 2025

Experion Developers has acquired a five-acre land parcel in Sector 151, Noida, for INR 450 crore as part of its strategic expansion plan. The Singapore-based company plans to invest over INR 1,100 crore in a luxury residential project catering to high-income buyers. The acquisition aligns with Noida's growing real estate market, bolstered by infrastructure upgrades and proximity to Jewar International Airport. Noida has attracted major developers, mirroring a national trend of increased land acquisitions, with 417 acres transacted across NCR in 2024, up from 190 acres in 2023.Read more