22 Nov 2022

The cabinet recently approved a proposal to halt periodic revisions to the capital value of properties in Mumbai City. The proposal sought an amendment to Section 154 (1d) of the BMC Act that allows the capital value of properties to be revised once every five years. Now, changes to the capital value can be made at any time by giving reasons for doing so in writing. The Brihanmumbai Municipal Corporation (BMC) is likely to lose revenue up to Rs 1,117 crore rupees this financial year owing to changes and amendments in the collection process laid down.Read more

22 Nov 2022

A website by the name maharashtracivilservice(dot)org, designed and developed by, a Senior Deputy Collector, has helped the state department resolve over 5,000 land related queries in quick succession. The website is supported by the Maharashtra Civil (Revenue) Services Organisation whose members sign up and respond to queries posted. Most queries pertain to land inheritance, land transfer, changing names on the property cards, etc. The website has over 20 lac visitors and over 3,00 active contributors. The entire website is in Marathi making the information available accessible to a larger audience.Read more

22 Nov 2022

Taurus Investment Holdings and Sage Capital are looking to raise Rs 500 crore domestic fund to invest in the Indian Real Estate. The fund will look at investing in Tier 1 and Tier 2 high-growth cities in Western and Southern India. The planned real estate fund will look at raising funds from both domestic and international investors aims to build a a portfolio of projects valued over $1 billion over the next 5 years. The goal will be to invest in commercial, mid-scale residential and mixed-use development projects.Read more

21 Nov 2022

In a statement released earlier last week on the official website, Kotak Mahindra Bank has announced that will reduce its marginal cost of funds-based lending rate (MCLR) for its benchmark one-year tenor by 20 basis points from 8.75 percent to 8.55 per cent. Tenors ranging from overnight to three years will also have revised rates ranging from 7.80 to 9.05 per cent. The revised rates will come into effect from 16th November 2022.Read more

21 Nov 2022

Nexus Select Trust has filled a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) last week in a bid to launch a retail REIT to raise $500 million. It will be India’s first rent-yielding retail REIT, with a portfolio of over 17 operational shopping malls comprising of 10 million square feet spread across 14 major cities. It includes Select Citywalk Mall located in New Delhi which is said to contain over 3,00 stores. The estimated value of the Trust’s assets is said to be around $3 billion.Read more

18 Nov 2022

The State Bank of India (SBI) has increased its marginal cost of funds-based lending rate (MCLR) by up to 15 basis points across all tenors. The benchmark one-year MCLR, has increased by 10 basis points (bps) to 8.05 percent, up from 7.95 percent previously. The two-year and three-year MCLRs have increased by 10 basis points each to 8.25 per cent and 8.35 per cent, respectively. The one-month and three-month MCLRs have each been raised by 15 basis points to 7.75 percent. The overnight rate is higher by 10 basis points at 7.60%, while the six-month MCLR has increased by 15 basis points to 8.05%.Read more

18 Nov 2022

At the HDFC Real Estate Tech Innovator’s Challenge 2022 which was hosted in partnership with Invest India and Housing and Urban Affairs Minister Hardeep Puri, HDFC Capital backed H@ART platform announced that it had shortlisted 10 start-ups that it intends to fund and support. The finalists included companies focused on fintech, construction tech, sustainability tech and sales tech.Read more

17 Nov 2022

Earlier this week Kotak Investment Advisors secured an anchor investment of USH 500 million from Abu Dhabi Investment Authority (ADIA) for its soon to be launched real estate Alternate Investment Fund (AIF). This will be the thirteenth real estate fund by Kotak aimed at raising USD 1 billion to invest across various realty asset classes and capital stack which will include both debt and equity investments. The fund is looking to focus on the residential sector. Kotak Investment Advisors and Abu Dhabi Investment Authority have a long-standing relationship and intend to foster relations in the future with such collaborative ventures.Read more

17 Nov 2022

The Bengaluru based fintech investment platform Bhive recently announced a reduction in its minimum investment threshold from 10 lac rupees to 5 lac rupees, along with attractive offers and discounts on limited units. Through its new initiative the company launched 500 units of commercial real estate space in ‘Brigade Metropolis’ in Whitefield, Bengaluru. The company claims to offer an average rental return of up to 10.5% per annum. Fractional ownership entities are not regulated by SEBI or any other investment authority in India.Read more

15 Nov 2022

Keystone Realtors Ltd (KRL), which sells properties under the brand 'Rustomjee’, launched its initial public offering (IPO) on Monday, November 14, 2022. Investors will be allowed to subscribe till Wednesday, November 16, 2022. The Mumbai-based real estate developer has fixed a price band of INR 514-54/- a share. The company is looking to raise ?635 crore through the initial share sale, which consists of a fresh issue of equity shares aggregating up to ?560 crore and an Offer-For-Sale (OFS) worth ?75 crore by promoters. According to data from the NSE, on its first day the issue has been subscribed 8 percent.Read more