04 Mar 2026

The Municipal Corporation of Delhi (MCD) has recovered INR 11.69 crore in pending property tax from a hotel located in Paschim Vihar, west Delhi, after initiating enforcement proceedings. The property was under liquidation when the civic body issued a demand notice for unpaid dues. The hotel management later cleared the outstanding amount under MCD's Sumpattikar Niptaan Yojana (SUNIYO), which allows waiver of interest and penalties on arrears before FY 2020-21 if specified conditions are met. The amnesty window recently closed after being extended until February 28.Read more

04 Mar 2026

Mindspace Business Parks REIT is set to raise INR 5.60 billion through a three-year bond issue, with a coupon of 6.96% payable quarterly, according to bankers aware of the development. The issue has been assigned an AAA rating by Crisil, indicating strong credit quality. The company invited commitment bids from investors and bankers, with bidding scheduled for March 4. The fundraising comes amid steady debt market activity in early March, as issuers tap institutional appetite for high-rated corporate bonds.Read more

04 Mar 2026

Brookfield Asset Management's newly formed AI infrastructure company Radiant has been valued at USD 1.3 billion following its merger with London-based cloud computing firm Ori Industries. The deal, announced in the past week, did not disclose financial terms, but sources confirmed that all of Ori's existing investors rolled their stakes into Radiant, alongside fresh capital from Brookfield. The move comes amid rising demand for AI computing capacity and forms part of Brookfield's larger USD 10 billion AI infrastructure fund, which also includes commitments linked to power and chip partnerships.Read more

03 Mar 2026

Mangaluru City Corporation (MCC) has stepped up efforts to improve property tax collection by launching a focused recovery drive across all 60 wards. The initiative targets pending dues and aims to widen the tax base through a ward-level property survey. Officials confirmed that property tax under the Self-Assessment Scheme has been increased by 3% for the current financial year in line with government norms. With over 2.20 lakh properties under its jurisdiction, the civic body is urging owners to clear arrears promptly to support city infrastructure and essential services.Read more

Hyderabad News Desk

03 Mar 2026

The Executive Centre India has leased more than 2 lakh sq ft of office space at Avance Business Hub in Hyderabad's HITEC City from Phoenix Infocity Private Limited. The five-year lease involves a monthly rent of about INR 2.24 crore at a starting rate of INR 110 per sq ft, with annual escalations. The deal includes a six-month rent-free fit-out period, a security deposit and 204 parking spaces. The transaction reflects sustained demand for premium managed office space in Hyderabad's leading IT corridor.Read more

03 Mar 2026

The State Bank of India has leased around 1.35 lakh sq ft of office space in Airoli, Navi Mumbai, for its global IT operations. The space, located at Newa Bhakti Knowledge City, is spread across multiple floors and has been taken at a monthly rent of about INR 1.68 crore at INR 125.05 per sq ft. The five-year lease includes a security deposit of over INR 10 crore and a 15 percent rent escalation clause. The transaction reflects steady demand for large Grade-A office spaces in Navi Mumbai.Read more

03 Mar 2026

Singapore's Consul-General in Mumbai, Mr. Cheong Ming Foong, met with MMRDA Commissioner Dr. Sanjay Mukherjee to discuss strengthening Singapore MMRDA collaborations and accelerating implementation of the Davos MoUs. The talks covered progress on projects involving Surbana Jurong and Sembcorp, as well as potential investments from Singaporean financial institutions like Mapletree, Ascendas Firstspace, and JM Financial Singapore. Dr. Mukherjee highlighted that the approved MMRDA Land Disposal Policy will facilitate transparent land allocation and help convert strategic MoUs into actual on-ground projects aligned with industrial, logistics, and sustainable infrastructure priorities.Read more

Noida News Desk

03 Mar 2026

The government-backed SWAMIH Investment Fund has approved up to INR 115 crore as last-mile funding for the stalled Antriksh Valley residential and commercial project in Greater Noida West. The capital will be infused through non-convertible debentures and used strictly for construction and project completion. The development, launched over a decade ago, had been delayed due to financial stress, weak sales, demonetisation and the pandemic. With new management clearing dues and regulatory penalties, the funding is expected to restart construction and help deliver homes to affected buyers.Read more

Mumbai News Desk

03 Mar 2026

The Brihanmumbai Municipal Corporation (BMC) house has approved a proposal to raise the property tax exemption limit for residential units from 500 sq ft to 700 sq ft. If cleared by the Maharashtra government, the move will extend full tax relief to nearly two lakh additional homes, taking the total exempt properties in Mumbai to around 17 lakh. While the proposal is expected to benefit middle-class and small homeowners, it could increase the civic body's annual revenue loss from about INR 400 crore to nearly INR 700 crore.Read more

03 Mar 2026

Arkel India has invested INR 100 crore in establishing a new advanced manufacturing facility for lift electronic and control systems in Savli-Manjusar, Vadodara district of Gujarat, aimed at bolstering domestic production and reducing reliance on imports. The single-shift plant covers about 1,35,000 sq ft and, once operational, will have an annual production capacity of around 36,000 units, including automated PCB assembly and integrated lift control systems suited to machine-room (MR), machine-room-less (MRL) and slim panel applications. The facility aligns product standards with Indian regulatory norms and positions India as a potential export base for select Asia-Pacific markets. The move follows the January 2025 acquisition of Turkey-based Arkel by Sweden-headquartered Innovalift AB and is expected to generate direct and indirect jobs, including apprenticeships with technical institutes. The plant caters to the rapidly growing elevator market driven by urbanisation and infrastructure expansion.Read more