17 Feb 2025

NDR InvIT Trust, India's first Perpetual Warehousing and Industrial Parks InvIT, reported a NAV of INR 127.26 per unit and a Q3 FY25 distribution of INR 1.75 per unit. The trust grew revenue by 5.65% and EBITDA by 8.86% to INR 715.55 million, maintaining a 98% occupancy rate across 19.01 MSF of assets. It is acquiring 2.01 MSF in Bengaluru, Hyderabad, Pune, and Surat. NDR also issued India's first Sustainability Linked Bonds, refinancing debt with IFC and NaBFID participation. The record date for distribution is February 12, 2025, reinforcing its commitment to investor returns.Read more

17 Feb 2025

The Bengal Silicon Valley IT Hub in New Town, originally a 100-acre project, has doubled to 200 acres due to high demand from IT firms. 38 companies have received Letters of Intent, with nine already under construction. Major investors include Reliance, Airtel Nxtra, ST Telemedia, and NTT, alongside Infosys, which secured 50 acres. The project aims to generate 75,000 jobs, strengthening Kolkata's IT sector. With 91.8% occupancy across Bengal's 22 IT parks, the state is boosting infrastructure and connectivity to support continued growth, solidifying its position as an emerging tech hub.Read more

17 Feb 2025

The Nashik Municipal Corporation (NMC) will raise development charges for builders and developers from INR 105 per sq. m to INR 350 per sq. m, effective April 1, 2025, marking the first hike in 15 years. Additionally, a 10% annual increase will be implemented moving forward. The decision aims to generate INR 1,500 crore to fund essential infrastructure projects and the upcoming Kumbh Mela 2026-27. While builders fear rising housing costs, the NMC assures that the funds will enhance the city's roads, water supply, and sanitation as Nashik undergoes rapid urban expansion.Read more

17 Feb 2025

The Indian stock market has seen sharp corrections since September 2024, impacting indices like the Nifty 50 and Sensex. While retail investors remain cautious, institutional investors are shifting focus to long-term growth sectors, particularly real estate. According to ANAROCK, QIP fundraising hit a record INR 1,41,482 crore in 2024, up 75% from INR 80,816 crore in 2020, with real estate attracting significant funding after a zero QIP year in 2023. Despite global economic uncertainties, real estate remains a key investment hedge, with QIP activity expected to support developer expansion, land acquisitions, and debt refinancing in 2025.Read more

17 Feb 2025

Shriram Properties (SPL) reported a 29.82% decline in its net consolidated profit for the quarter ending December 31, 2024, with profit after tax at INR 12.97 crore compared to INR 18.48 crore in the same period last year. The company's total income also saw a decrease of 25.23%, amounting to INR 179.87 crore. Despite these short-term setbacks, SPL remains optimistic, citing strong project pipelines and upcoming launches in Pune and Bengaluru. The company recorded capital gains of INR 5.09 crore and interest earnings of INR 35.93 crore from divesting its stake in its subsidiary, SPL Shelters. Additionally, SPL secured development rights for three new projects in Bengaluru and Chennai, with a development potential of 1.1 million sq ft. The company's net debt was reduced to INR 401 crore, with a net debt-equity ratio of 0.31:1.Read more

14 Feb 2025

Keystone Realtors Ltd recorded a significant 50% decline in net profit for the third quarter, amounting to INR 15.07 crore, compared to INR 30.22 crore in the same period last year. Its total income also decreased to INR 485.82 crore from INR 533.33 crore. Keystone, a major real estate developer in the Mumbai Metropolitan Region (MMR), has completed 36 projects and is working on 15 ongoing and 26 upcoming developments. With over 25 million square feet delivered, the company has a robust pipeline of 44 million square feet under development.Read more

14 Feb 2025

The Greater Hyderabad Municipal Corporation (GHMC) faces a severe financial crunch as property tax arrears from residents and government departments have piled up to INR 5,500 crore. Despite being the primary source of revenue, nearly 7 lakh property owners have failed to clear dues over the past eight years. The civic body has issued 4 lakh distress warrants to defaulters but is hampered by the absence of a one-time settlement scheme from the state government. Government departments, including the secretariat and South Central Railway, owe INR 4,400 crore, with dues dating back to 2001. GHMC aims to recover pending taxes through door-to-door collection drives, legal measures, and frequent reminders.Read more

14 Feb 2025

Signature Global has cut its net debt by 29% in Q4 2024, bringing it down to INR 720 crore from INR 1,020 crore, driven by strong pre-sales and increased customer collections. The company reported a 54% rise in collections, reaching INR 3,210 crore in the first nine months of FY25. Sales surged to INR 8,670 crore, with an average pre-sales realization of INR 12,565 per sq ft. Signature Global aims for INR 10,000 crore in sales bookings this fiscal year and is expanding its footprint with new acquisitions, including a 16.12-acre plot in Gurugram for INR 300 crore.Read more

14 Feb 2025

The Ponda Municipal Council (PMC) is evaluating a house tax increase from INR 7 per square meter to manage its INR 40 lakh monthly salary bill and other rising expenses. A similar proposal in 2022 was withdrawn due to public opposition. Currently, new constructions are taxed at INR 50 per square meter, and commercial properties at INR 206 per square meter. Chairperson Anand Naik noted that other B-class councils impose higher rates. With waste management costs also rising, PMC is pushing for financial reforms, with a final decision expected in the upcoming council meeting.Read more

14 Feb 2025

Anamudi Real Estates LLP, linked to the Godrej family, has acquired a prime 560 sqm plot in Mumbai's upscale Juhu for INR 80.83 crore. The purchase, recorded in February 2025, highlights the area's continued demand among high-net-worth individuals and investors. The deal included a INR 4.85 crore stamp duty and INR 30,000 registration fee. Juhu's real estate market saw 175 transactions worth INR 1,346 crore in 2024, with an average property price of INR 72,166 per sq. ft. This acquisition underscores the Godrej family's growing presence in Mumbai's luxury real estate segment.Read more