14 Jan 2025

Institutional investments in Indian real estate soared to USD 6.5 billion in 2024, a 22% year-on-year increase, according to Colliers India. The industrial and warehousing sector led the growth, attracting USD 2.5 billion-39% of total inflows-highlighting India's rising status as a manufacturing hub. The office segment captured 36% of investments, reflecting sustained demand for quality commercial assets. Mumbai accounted for 24% of the total, with multi-city deals contributing 39%. Domestic investors made up 43% of Q4 inflows, underscoring growing local confidence. This strong performance signals Indian real estate's resilience and its appeal to both domestic and global institutional investors.Read more

13 Jan 2025

Facing an unprecedented financial crisis, the Chandigarh municipal corporation (MC) is seeking private partnerships to maintain its assets and ensure operational functionality. The MC has floated an expression of interest (EOI) to engage private bidders for managing five community centres on a public-private partnership (PPP) model and making 15 gyms operational. Under these contracts, private entities will take responsibility for booking, operating, and maintaining these facilities, while also sharing earnings with the MC. This approach aims to address challenges in managing costly investments, including INR 70-80 crore spent on community centres and significant sums on gym establishments.Read more

13 Jan 2025

Capital Infra Trust, previously known as National Infrastructure Trust, launched its Infrastructure Investment Trust (InvIT) IPO earlier this week, aiming to raise INR 1,578 crore. The issue includes a fresh issue of INR 1,077 crore and an offer for sale of INR 501 crore. Backed by Gawar Construction Limited, the trust manages nine revenue-generating road assets spanning 682.425 kilometers across India. With a price band set at INR 99-100 per unit, the IPO has already attracted INR 703 crore in anchor investments, signalling strong institutional interest. The proceeds will be used to repay debts and strengthen its infrastructure projects.Read more

13 Jan 2025

ASK Property Fund and India Sotheby's International Realty have launched a INR 1,000 crore equity fund aimed at investing in luxury residential projects across India. The fund, called ASK Curated Luxury Assets Fund, is registered with the Securities and Exchange Board of India (SEBI) as a Category II Alternative Investment Fund. It is designed to offer superior returns by focusing on high-end residential projects, holiday homes, and second-home markets in top cities and popular destinations. The fund will target both institutional and individual investors, including family offices, pension funds, and high net-worth individuals.Read more

13 Jan 2025

Motilal Oswal Alternates (MO Alts), the alternative investments division of Motilal Oswal Financial Services, has successfully raised over INR 1,750 crore for its sixth real estate fund, India Realty Excellence Fund VI (IREF VI). The fund targets early-stage investments in mid-income and affordable residential projects across India's top eight cities, including Mumbai, Delhi-NCR, and Bengaluru. With nearly 90% of its INR 2,000 crore target achieved, MO Alts has already committed INR 1,000 crore across projects in cities like Hyderabad and Chennai. The platform manages over INR 9,500 crore in real estate assets, reflecting its commitment to bridging the capital gap in the sector.Read more

10 Jan 2025

Nagpur Municipal Corporation's (NMC) property tax rebate scheme, which ran from July to December 2024, successfully collected INR 83.6 crore from 163,813 property owners, with a total fiscal collection of INR 162.45 crore so far. Offering 10% rebates for online payments and 5% for offline payments, the initiative aimed to boost compliance. Despite participation from 322,000 taxpayers, 417,000 property owners missed the deadline and now face a 2% monthly interest penalty. NMC, targeting INR 350 crore this fiscal year, urges defaulters to settle dues promptly to fund city infrastructure. Nehru Nagar led payments with INR 10.89 crore, while Dharampeth lagged at INR 4.7 crore.Read more

10 Jan 2025

Karnataka Chief Minister Siddaramaiah has launched an initiative to integrate 1.35 crore undocumented properties into the state's tax net to address revenue losses and improve transparency. Bengaluru alone has 7-15 lakh properties lacking khata, while urban local bodies and gram panchayats account for 1.2 crore undocumented properties. The state currently collects INR 800 crore in property taxes from 44 lakh gram panchayat properties but aims to include 96 lakh more. Siddaramaiah has urged faster digitisation under the e-khata system to streamline processes and curb fraud. The stamps and registration department targets INR 26,000 crore revenue this year, up from INR 16,993 crore.Read more

10 Jan 2025

Yusen Logistics India, part of Japan's NYK Group, has signed a long-term lease with Macrotech Developers for nearly 200,000 sq. ft. of warehousing space in Palava, near Mumbai. This built-to-suit facility, under Lodha Industrial & Logistics Parks, aims to enhance the company's distribution network in India and aligns with its strategy to expand in key logistics hubs. Yusen Logistics, operational since 2011, offers warehousing, freight forwarding, and transportation services across 20+ cities. India's warehousing sector has seen significant growth due to the e-commerce boom and the rise of third-party logistics providers, driving demand for modern logistics infrastructure.Read more

10 Jan 2025

CIDCO has launched the "My Preferred CIDCO Home" scheme, offering 26,000 affordable homes in nine Navi Mumbai locations, including Vashi and Kharghar. Targeting economically weaker sections (EWS) and low-income groups (LIG), the initiative aligns with PMAY's "Housing for All" mission. Homes are priced between INR 25-97 lakh, catering to households earning up to INR 6 lakh annually. With the final application deadline on January 10, CIDCO expects a surge in interest following the disclosure of pricing details. This scheme not only addresses Navi Mumbai's housing demand but also supports sustainable urban growth for the region's expanding population.Read more

09 Jan 2025

Nagpur Municipal Corporation (NMC) launched a Property Tax Amnesty Scheme, offering an 80% waiver on penalties and interest from January 1 to March 31, 2025. With outstanding property taxes of INR 850.1 crore and INR 770.45 crore in fines, the scheme targets compliance among 286,399 defaulters. Led by commissioner Abhijeet Chaudhari, NMC aims to recover INR 200 crore during this period. Critics question its timing before civic elections, but supporters highlight the financial relief it offers. Payments made post-deadline won't qualify, urging defaulters to act promptly. The initiative is a pivotal step in balancing municipal revenue generation with public support.Read more