Chennai News Desk

31 Mar 2026

The Chennai Port Authority has approved an Initial Public Offering (IPO) for its wholly owned subsidiary, Kamarajar Port Ltd, marking the first instance of a state-owned port in India entering public markets. The board also approved issuing bonus shares from Kamarajar Port's reserves of about INR 3,000 crore to protect the authority's interest. Funds from the IPO will be used to repay an outstanding INR 843 crore SBI loan and address a pension deficit of INR 2,582 crore. Earlier approvals from the Ministry of Ports and Kamarajar Port's board have paved the way for the listing.Read more

31 Mar 2026

The Telangana government has initiated a reallocation strategy to address more than 12,000 unoccupied double-bedroom housing units across Hyderabad and adjoining districts, following concerns over low occupancy despite high demand for affordable housing. Originally sanctioned under a previous administration, around 92,000 units were approved within Greater Hyderabad Municipal Corporation limits, of which 61,000 have been completed. While 23,500 houses were allotted before the 2023 elections, a significant share remains vacant due to location-related challenges. Beneficiaries have been issued notices to occupy homes within a revised deadline, failing which units will be reassigned to eligible applicants residing within a 5 km radius. The move aims to improve utilisation of public housing assets and refine future project planning.Read more

31 Mar 2026

L&T Technology Services (LTTS) has agreed to sell its Smart World and Communication (SWC) business to AMI Paradigm Solutions for INR 452 crore in a slump sale. The divestment is part of LTTS's strategic five year plan to focus on AI driven digital engineering and Engineering Intelligence services. The SWC unit, which generated over INR 1,000 crore in revenue last fiscal, provides smart infrastructure and technology solutions in India and abroad. The deal, expected to close by late September, will allow LTTS to reallocate resources to higher-growth technology segments while enabling AMI Paradigm to expand its AI capabilities.Read more

Ghaziabad News Desk

31 Mar 2026

Residents in Ghaziabad are facing uncertainty over property tax payments as conflicting statements from the mayor's office and municipal officials have created confusion over applicable rates and penalties. While the mayor has indicated that a previously proposed tax hike may be rolled back, the Ghaziabad Municipal Corporation maintains that no formal change has been implemented. With the financial year nearing closure, property owners are unsure whether to pay under revised or earlier rates, particularly as a 12% penalty on unpaid dues is expected to apply after the deadline. The issue follows a recent court ruling upholding the revised tax structure, leaving the state government to take a final decision. The lack of clarity has raised concerns over compliance and potential financial liability for residents.Read more

30 Mar 2026

Sula Vineyards has entered into an agreement to acquire the Nashik-based wine estate of Moët Hennessy India, which operates the Chandon brand, in an asset deal valued at INR 20 crore. The acquisition includes a 19-acre property with a fully operational winery and hospitality infrastructure. The move will strengthen Sula's production capacity and expand its wine tourism presence in Nashik. Following the deal, Chandon will exit domestic wine production. The transaction is expected to be completed in the first quarter of FY27, subject to approvals.Read more

Pune News Desk

30 Mar 2026

The Pune Municipal Corporation has proposed a 50% property tax concession for residential properties owned by women, limited to units measuring up to 500 sq ft, as part of its budget provisions for the upcoming financial year. The move, approved by the standing committee, stops short of a broader tax waiver that had been anticipated for small properties. The civic body continues to rely on property tax as a primary revenue source, with collections projected to remain a key contributor to municipal finances. The measure is intended to provide targeted relief while maintaining revenue stability, although it has drawn criticism from citizen groups seeking wider tax exemptions. The proposal forms part of a broader fiscal strategy focused on tax-based income streams and compliance measures.Read more

30 Mar 2026

The Kolkata Metropolitan Area (KMA) recorded 4,974 residential property registrations in February, marking a 63 per cent increase over the previous month, according to data from Knight Frank India. The growth reflects a rebound from a low base in January, while registrations remained marginally lower by 1 per cent year-on-year. Mid-sized apartments between 501 and 1,000 sq ft accounted for 58 per cent of total transactions, indicating a shift towards value-driven housing. North and South Kolkata together contributed around 75 per cent of activity, with Rajarhat, Dum Dum and Barasat emerging as leading micro-markets. The data covers both primary and secondary residential transactions.Read more

30 Mar 2026

The Reserve Bank of India infused INR 65,322 crore into the banking system through a short-term variable rate repo auction to manage liquidity pressures. The move comes amid fluctuations caused by advance tax payments and GST outflows, which have impacted surplus liquidity levels. Despite a lower-than-notified infusion, the banking system remains in surplus. In recent days, the RBI has actively used VRR auctions to inject over INR 2.08 lakh crore, alongside durable liquidity support through open market operations since January 2026, reflecting its continued efforts to maintain stability in money markets.Read more

30 Mar 2026

A performance audit by the Comptroller and Auditor General of India has identified unwarranted expenditure of Rs 297.97 crore in road projects executed in Maharashtra under the Hybrid Annuity Model (HAM). The audit, presented in the Maharashtra Legislative Assembly, examined projects implemented between 2018-19 and 2022-23. It highlighted issues in detailed project reports, incorrect cost estimations, delays in payments, and weak monitoring mechanisms. The report also pointed to excess insurance-related costs, procedural lapses, and instances where works began without required clearances, while also noting improved connectivity on certain road stretches.Read more

Chennai News Desk

30 Mar 2026

Enterprise cloud applications company Workday has leased approximately 1.94 lakh sq ft of office space at Millenia Business Park in Perungudi, Chennai, to establish a global capability centre (GCC). The transaction, structured as a sublease with Cowrks and backed by Brookfield Properties, is among the larger single-occupier office commitments in the city in recent quarters. The lease is divided into two phases, combining managed workspace and conventional leasing formats, with varying rental structures. The development highlights sustained demand for Grade A office assets in Chennai, particularly from global technology firms, supported by favourable state policies and the city's growing prominence as a GCC hub.Read more