02 Apr 2026

Gujarat's GIFT City has missed a key milestone after XED Executive Development withdrew its proposed USD 12 million IPO, which was expected to be the first listing from the IFSC platform. The company stepped back due to weak investor sentiment and cautious market conditions. The issue was structured as a dollar-denominated offering aimed at global investors and was to be listed on international exchanges at GIFT City. The development highlights current hesitation in capital markets and may delay similar IPO plans from companies looking to tap the IFSC route.Read more

Mumbai News Desk

02 Apr 2026

The Brihanmumbai Municipal Corporation has proposed setting up a special land acquisition cell to address delays in the Gargai dam project in Palghar. The move follows concerns over pending land acquisition and a cost increase of around 9 per cent. A temporary team of 10 revenue officials is planned to handle the remaining work in phases. While a major portion of the required land has been acquired, key parcels are still pending due to fragmentation. The project is expected to add around 440-450 MLD to Mumbai's water supply once completed.Read more

02 Apr 2026

The Comptroller and Auditor General (CAG) has raised concerns over the Telangana government's allotment of 48 acres in Hyderabad Pharma City to Amazon Data Services India Pvt Ltd for a data centre. The audit noted that the move deviates from the project's pharma-focused objective and could impact employment targets. It also highlighted issues such as fragmented land acquisition, delays in execution, and weak monitoring systems. The state government stated that the allotment was as per an existing framework and would not affect the overall goals of the project.Read more

01 Apr 2026

Cosmic PV Power Ltd has filed draft papers with the market regulator to raise INR 640 crore through an initial public offering. The issue includes a fresh equity component of INR 540 crore and an offer for sale of INR 100 crore by existing shareholders. The company plans to use the funds to set up a new manufacturing facility in Madhya Pradesh and for general corporate needs. Operating in solar module manufacturing, EPC services, and aluminium frame production, the company has seen strong revenue growth and is part of the government's approved supplier list for renewable energy projects.Read more

01 Apr 2026

Mindspace Business Parks REIT has acquired a 2.6 million sq ft commercial office asset in Chennai for INR 2,541 crore through the purchase of 100% stake in Sycamore Properties Pvt Ltd and Content Properties Pvt Ltd. The transaction, approved in the past week, includes 1.4 million sq ft of completed space and 1.2 million sq ft under construction, expected to be delivered by March next year. The acquisition is part of a right of first offer (ROFO) arrangement with sponsor K Raheja Corp and marks the fifth asset addition from its pipeline. The REIT also plans a preferential unit issue of up to INR 675 crore to fund the deal, subject to regulatory and unitholder approvals.Read more

01 Apr 2026

The government has proposed a revised property tax system for New Delhi Municipal Council (NDMC) areas under the Jan Vishwas Bill. The changes aim to simplify tax calculation, improve transparency, and reduce disputes. The framework introduces separate taxes for buildings and vacant land, a valuation committee for periodic revisions, and mandatory Property Identification Codes. It also proposes service charges on Union government properties at 75% of applicable tax. With limits on reassessment timelines and rationalised penalties, the move is expected to bring more clarity and consistency to property taxation in prime central Delhi areas.Read more

Mumbai News Desk

01 Apr 2026

The Maharashtra Housing and Area Development Authority (MHADA) has opened applications for 2,640 residential units across Mumbai under its 2026 lottery scheme, targeting multiple income groups from economically weaker sections to high-income households. The application process commenced in the past week and will remain open until late April, with the final draw scheduled for mid-May. The housing stock spans key locations including Vikhroli, Goregaon, Borivali, Wadala, Powai, and Dadar. Prices range from approximately INR 2.9 million to over INR 68.2 million, reflecting a wide affordability spectrum. The scheme includes under-construction units, inventory received from private developers, and scattered housing stock, reinforcing the state's effort to expand access to formal housing in Mumbai.Read more

01 Apr 2026

The Delhi Development Authority received strong initial demand for its latest housing scheme, with over 700 flats booked within two days, mainly in Narela. The response was driven by relatively lower prices, ready-to-move-in units, and trust in government-backed housing. The scheme continues to attract first-time buyers and budget-focused families. However, connectivity and distance from central Delhi remain key concerns. The trend also reflects DDA's ongoing efforts to clear inventory and improve housing uptake across emerging residential areas.Read more

01 Apr 2026

Property Share Investment Trust has announced the launch of an initial public offering (IPO) for PropShare Celestia, valued at INR 244.65 crore, with subscriptions opening in the coming days. The issue, priced between INR 10 lakh and INR 10.50 lakh per unit, will fund the acquisition of seven floors in a Grade A+ commercial building in Ahmedabad. The asset, located in Nehru Nagar, spans over 2 lakh sq ft and is fully leased to a mix of managed office operators and a multinational tenant. The offering represents the trust's third SM REIT product, reflecting the gradual expansion of fractional institutional ownership structures in India's commercial real estate market.Read more

01 Apr 2026

IndiQube Spaces Ltd has leased over 48,000 sq ft of managed office space in Bengaluru to a healthcare technology firm for establishing a global capability centre (GCC), with the transaction valued at around INR 75 crore over five years. The deal reflects continued demand from multinational occupiers for flexible and managed workspaces in key IT markets. IndiQube, which operates across 17 cities with a portfolio exceeding 9.5 million sq ft, provides co-working and managed office solutions to corporate clients. The transaction highlights the role of flexible workspace operators in facilitating large-format office requirements for GCCs in India's commercial real estate sector.Read more