29 Nov 2025

A Cuttack housing project under the 'Housing for All' scheme faces a GST liability of nearly INR 10 crore for transfer of development rights. The project involved a 3.63-acre land parcel where 550 units for EWS and 320 units for LIG were constructed in collaboration with the Cuttack Development Authority. While GST on construction services and interest for delayed compliance was paid, the TDR-related GST remains unpaid. Officials flagged issues with input tax credit entries, prompting the case to be escalated to the national GST enforcement agency for detailed investigation.Read more

29 Nov 2025

BSNL is set to auction an 11.1 acre land parcel on Jessore Road, Madhyamgram, Kolkata, within the next few months. Valued internally at INR 179 crore, the land is expected to attract bids exceeding INR 250 crore due to its strategic location near Star Mall and close to Kolkata airport. Previously, BSNL sold a smaller Kankurgachi parcel for INR 131 crore. The Madhyamgram land, currently housing staff quarters and a telephone exchange, could support large-scale residential projects, drawing interest from national and local developers, under the supervision of NLMC.Read more

28 Nov 2025

Mt. K Kapital has launched its second real estate credit fund with a target size of USD 450 million, a move that comes on the back of strong investor confidence following the performance of its debut fund. The new fund will expand the firm's presence across Mumbai, NCR, Pune, and Bengaluru, with deployment expected around early 2026. The platform aims to partner with developers from the acquisition stage and support them through the project cycle. With robust participation from both GPs and LPs, the fund builds on the success of Mt. K Kapital's earlier MMR-focused investment strategy.Read more

28 Nov 2025

HDFC Capital Advisors has joined hands with Hero Realty to launch a INR 1,000 crore platform for residential projects in India's Tier 1 and Tier 2 cities. Hero Realty, with a track record of over 8.4 million sq ft in completed residential projects and 200 acres of industrial parks, currently has five ongoing developments. The partnership aims to tap into rising demand for mid-income housing, focusing on well-connected towns near major metros. HDFC Capital's CEO emphasized that the move supports sustainable housing growth for India's middle class, while Hero Realty plans faster expansion under this collaboration.Read more

28 Nov 2025

Siemens Energy India reported a year-on-year rise of over 31 per cent in net profit for the July-September period, supported mainly by higher operational revenue and a strong order book. Revenue increased to INR 2,646 crore, while the order backlog reached INR 16,205 crore, reflecting a 47 per cent jump over the previous financial year. New orders remained slightly higher than last year, and the company's Board recommended a 200 per cent dividend. The firm also expanded its manufacturing and service capabilities to meet the ongoing rise in demand for electrification across India.Read more

28 Nov 2025

The Union Cabinet has approved an INR 9,858 crore Phase 2 expansion of Pune Metro, adding Lines 4 and 4A, covering roughly 31.6 km with 28 elevated stations. These lines will connect key IT, commercial, educational, and residential areas across Pune. Maha?Metro will handle all construction and systems work, with preliminary surveys and design activities already underway. Daily ridership on these corridors is expected to reach 4.09 lakh by 2028 and over 11.7 lakh by 2058. The expansion aims to enhance connectivity, reduce traffic congestion, and support long-term urban growth.Read more

27 Nov 2025

IL&FS has repaid INR 48,463 crore to lenders, achieving nearly 80% of its INR 61,000-crore debt-resolution target. The repayments were driven by asset monetisation, interim distributions including cash and InvIT units, and servicing from profitable subsidiaries. Out of the 302 entities in the group, 202 have been fully resolved, including the transfer of Chenani-Nashri Tunnelway Limited. The group maintains a cash balance of INR 8,575 crore for operational and distribution purposes. Pending resolutions indicate the process is ongoing, reflecting a structured and phased debt-reduction approach.Read more

27 Nov 2025

The Uttar Pradesh government has introduced major relief for the retail and commercial sectors by capping stamp duty and registration fees on lease deeds. Industry bodies such as the Retailers Association of India (RAI) have long argued that high and unpredictable charges discouraged formal tenancy registrations. Under the revised system, fees will now be calculated based on tenancy duration and average annual rent, making costs more predictable and easier for businesses to plan. RAI welcomed the move, noting it aligns with long-standing industry recommendations. The initiative is expected to boost formal lease registrations, improve compliance, and support a more organised and transparent commercial rental market in the state.Read more

27 Nov 2025

The Asian Development Bank has sanctioned a USD 400 million results-based lending program to improve road connectivity across 34 districts in Maharashtra, focusing on the climate-sensitive and economically lagging Marathwada and Vidarbha regions. The initiative will benefit over 1.7 million people, including residents of around 80 villages and 410 rural communities, by upgrading nearly 350 km of state highways and 2,577 km of rural roads. The project aims to link rural areas to markets, logistics hubs, healthcare, education, and other essential services while promoting inclusive economic growth.Read more

26 Nov 2025

ASK Property Fund and India Sotheby's International Realty have partnered with Amavi by Clarks to create an INR 500 crore equity fund platform aimed at luxury second-home developments. The initiative, set up through the ASK Curated Luxury Assets Fund-I, will focus on premium branded villas in hill, lake, and spiritual destinations. The platform brings together ASK's investment capabilities, India Sotheby's insights into luxury buyers, and the Clarks Group's hospitality expertise. With rising demand for high-quality second homes among Ultra High Net Worth Individuals, the partners aim to build experiential, hospitality-led residential assets.Read more