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Greater Visakhapatnam Municipal Corporation (GVMC) achieved a significant 22% increase in property and vacant land tax collection, reaching Rs 620 crore for 2025-26. This surge, driven by expanded tax bases and focused vacant land assessments, surpassed initial targets. Enhanced administrative efforts and a 50% interest waiver also contributed to the impressive revenue growth. VISAKHAPATNAM: The Greater Visakhapatnam Municipal Corporation (GVMC) collected Rs 620 crore in property and vacant lan ...Read More >
Gurugram Municipal Corporation (MCG) collected over Rs 350 crore in property tax and Rs 56 crore in water bills for the 2025-26 financial year. Offices remained open on a holiday to facilitate last-minute payments, with arrangements made for senior citizens. GURUGRAM: MCG collected more than Rs 350 crore in property tax and about Rs 56 crore as water bills during the 2025-26 financial year. Officials said MCG offices saw heavy footfall from early morning on Tuesday as people arrived to pay pen ...Read More >
NEW DELHI: The Municipal Corporation of Delhi has extended the last date of availing the Property Tax Amnesty Scheme 2025-26 till April 30, the Delhi Mayor said on Tuesday. Announcing the extension, Mayor Raja Iqbal Singh said the decision was taken in view of the positive response from citizens and to allow more taxpayers to settle their pending dues under the Sumpattikar Niptaan Yojana (SUNIYO) scheme. He urged property owners and occupiers to make use of the scheme, describing it as a "gold ...Read More >
NEW DELHI: Havells India has reported a growth of 18.86 per cent in its net consolidated profit during the quarter ended September 30, 2025. Its profit after tax stood at ₹318.28 crore in Q2 FY26 as against ₹267.77 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at ₹4,865.59 crore in Q2 FY26, a growth of 5.04 per cent from ₹4,632.30 crore it recorded in the similar quarter last year. An ...Read More >
CapitaLand India Trust (CLINT) is set to divest CyberVale in Chennai and CyberPearl in Hyderabad for ₹11,031 million. This strategic move, at a 3% premium to valuation, aims to optimize CLINT's portfolio. The proceeds will be used for debt repayment, reinvestment in higher-yielding projects, and enhanced distributions to unitholders, reducing CLINT's total completed floor area to ~21.2 million sq ft. ...Read More >
Info Edge India has received a complaint. The complaint alleges policy violations within the 99acres vertical. Certain employees are under scrutiny. The company's audit committee is aware of the allegations. An independent law firm will investigate the matter. The investigation is currently underway. Info Edge states there is no material impact on finances yet. ...Read More >
NEW DELHI: Godrej Properties (GPL) has acquired a 48-acre land parcel through outright purchase in Doddaballapur, North Bengaluru. The development on this land will primarily comprise plotted units with a development potential of 1.1 million sq ft. Gaurav Pandey, MD & CEO of the company said, "This investment reinforces our focus on expanding our presence in key growth corridors through wellplanned residential communities. Bengaluru continues to be a priority market for us." ...Read More >
Delhi Urban Shelter Improvement Board (DUSIB) is surveying its land to identify encroachments, mapping jhuggi jhopri clusters, and assessing land parcels for housing development. This initiative supports the Pradhan Mantri Awas Yojana, aiming to provide pucca housing to eligible slum dwellers. ...Read More >
NAGPUR: The Maharashtra government has pledged strict action against illegal sand mining along the Wardha River. Speaking during the monsoon session of the state legislature on Tuesday, revenue minister Chandrashekhar Bawankule assured that officials showing laxity in curbing illegal excavation would face immediate suspension. To ensure accountability, drone surveys have been ordered to monitor sand mining sites. Bawankule said the state introduced a new sand policy on April 1, abolishing the e ...Read More >
NEW DELHI: The Supreme Court has allowed realty firm M3M Group's plea for substitution of the provisionally attached property by the Enforcement Directorate under the Prevention of Money Laundering Act, 2002. A bench of Justices P S Narasimha and R Mahadevan, however, said the substitution of the property would be subject to nine conditions as suggested by ED. "We have heard Dr Abhishek Manu Singhvi, senior counsel appearing for the petitioner and considered the matter in detail. The petitione ...Read More >
NEW DELHI: MARS Growth Capital, a joint venture between Liquidity Group and MUFG Bank, has extended terms of the existing financing of $100 million in Infra.Market by another five years and also enhanced the financing amount by an additional $50 million. Northcote Luxe FinBrokers were the advisors to Infra.Market for this transaction. This is company's second fund raising for the year. It had raised approximately $125 million in series D financing round earlier this year. Founded in 2016, Inf ...Read More >
VIJAYAWADA: The State government on Friday accorded approvals to a slew of industries. Among those are Krishnapatnam Power Corporation Limited (KPCL), which is set to establish a 350 MW Solar and Battery Energy Storage System (BESS) in Thamminapatnam and Mommidi villages of SPSR Nellore district with a Rs 1,225 crore investment, creating 575 jobs. Furthermore, the government also waived off a Rs 54 crore extension of time fee, contingent on project completion within two years as per the Andhra P ...Read More >
NEW DELHI: Prestige Group and Arihant Group have entered into an agreement to jointly acquire a 3.48-acre land parcel in Velachery, Chennai from Rane Madras. The acquisition will be undertaken through their joint venture entity, Canopy Living LLP. The land is earmarked for the development of residential dwellings with a total development potential of approximately 7.5 lakh sq ft and an estimated gross development value (GDV) of over ₹1,600 crore. ...Read More >
NEW DELHI: Bengaluru-based Sobha plans to invest ₹800 crore in its maiden residential project - Sobha Aurum in Greater Noida. The company has received Uttar Pradesh RERA approval for the project, which will come up in Sector 36. The project spread over 3.46 acres and have a total development potential of approximately 9.3 lakh sq ft. It comprises two towers with a total of 420 residential units, including 1, 2, 3, and 4 BHK configurations. Unit sizes range from 739 sq ft for 1BHKs to over 2,3 ...Read More >
NEW DELHI: Randeep Hooda has purchased an apartment in in Bianca C.H.S. Versova, Mumbai, for ₹5.63 crore The apartment has a built-up area of 142.19 sq meter (1,530 sq ft). The transaction was registered in June 2025. The transaction incurred a stamp duty payment of ₹33.78 lakh and registration charges of ₹30,000, according to the Inspector General of Registration (IGR) documents reviewed by Square Yards. ...Read More >
BENGALURU: Brookfield Asset Management will sell its Australian retirement home operator Aveo to The Living Company for A$3.85 billion ($2.5 billion), the Canadian company said on Thursday. Aveo owns a portfolio of more than 10,000 units located across Queensland, Victoria, New South Wales and Tasmania. Since acquiring Aveo in 2019 for an equity value of about A$1.27 billion, Brookfield simplified the platform's customer contracts and invested more than A$500 million across the business. "Ave ...Read More >
Ludhiana, Jun 8 (PTI) Punjab Congress president Amrinder Singh Raja Warring on Sunday asserted that his party will win the Ludhiana West assembly bypoll, scheduled to be held on june 19, with a "record margin". "Congress practically has no competition here", he claimed. Warring, who is also the Ludhiana MP, said that the ruling Aam Aadmi Party (AAP) was badly mistaken that the Congress would allow it to abuse power and misuse the official machinery for the elections. "First of all, we will no ...Read More >
NEW DELHI: G Square Group has acquired Kovai Hills project from Rakindo for ₹707 crore in Coimbatore. Bala Ramajeyam, founder and managing director of the company said, "G Square is also open to larger JV partners to participate in developing commercial and residential developments within this 714-acre township." The project renamed as G Square Seven Hills spans 714 acres with Phase 1 covering 406 acres and featuring 3,127 plots. The remaining 308 acres are designated for joint ventures with ...Read More >
NEW DELHI: JK Cement has formalised its joint venture agreement with Saifco Cements of acquiring a 60% stake in the company. With this, the company has set up manufacturing operations in Srinagar, Jammu & Kashmir. The company paid the consideration of ₹149.81 crore towards acquisition of 60% equity shares of Saifco. Upon this acquisition, Saifco has become a subsidiary of the company. Raghavpat Singhania, managing director of the company said, "The Jammu & Kashmir market has untapped potential ...Read More >
BHUBANESWAR: Revenue minister Suresh Pujari on Saturday said Odisha would not be allowed to follow the lawless path in sand operations like it is in Bihar and West Bengal, while responding to the recent assault of an additional tehsildar in Kaptipada block, Mayurbhanj district, by the sand mafia. He promised stringent action against the sand mafia regardless of their connections, while speaking to mediapersons here on Saturday. "The Kaptipada incident represents a serious escalation in conflict ...Read More >
HYDERABAD: Justice T Vinod Kumar of the Telangana high court has directed the Greater Hyderabad Municipal Corporation (GHMC) to consider an application filed by a woman and her son seeking regularisation of their Begumpet property -- constructed in violation of approved building norms -- before initiating any demolition. The dispute pertains to property bearing Nos. 6-3-1177/A/120 and 6-3-1177/A/104 in BS Maktha, Begumpet, where the petitioners, Cheguri Lakshmi and her son Cheguri Eswar Sai Kis ...Read More >
NEW DELHI: The Reserve Bank of India (RBI) on Friday slashed the repo rate by 50 basis points to 5.5%, the lowest level in three years. This marks the third consecutive rate cut in 2025, bringing the cumulative reduction to 100 basis points since February. Alongside the rate cut, the central bank also reduced the cash reserve ratio (CRR) by 100 bps, unlocking ₹2.5 lakh crore worth of liquidity in the system. Sanjay Malhotra, governor, RBI said the monetary policy committee (MPC) took the decisi ...Read More >
PUNE: In a move to empower homebuyers and enhance transparency, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has revised its project registration certificates to include critical details about real estate projects in a concise, reader-friendly format. For the first time, the certificate -- issued at the time of project registration -- includes comprehensive data such as the project's total built-up area, number and names of buildings and wings, approved habitable floors, total re ...Read More >
NEW DELHI: iPhone maker Apple India has taken on lease 12,616 square feet area in Sky City Mall at Borivali East, Mumbai for a minimum monthly rent of Rs 17.35 lakh, according to CRE Matrix. Real estate data analytics firm CRE Matrix has reviewed the lease agreement of Apple India, which currently has two stores, one each in Mumbai and New Delhi. Premium mobile device maker Apple India has leased this space from Incline Realty for a period of 10 years and 10 months. The rent free period is 10 ...Read More >
NEW DELHI: SRG Housing Finance has reported a growth of 7.89 per cent in its net profit during the quarter ended December 31, 2024. Its profit after tax stood at Rs 5.74 crore in Q3 FY25 as against Rs 5.32 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net total income stood at Rs 40.25 crore in Q3 FY25, a growth of 24.96 per cent from Rs 32.21 crore it recorded in the similar quarter last year. Vinod Jain, managing dire ...Read More >
NEW DELHI: LIC Housing Finance has reported a growth of 22.75 per cent in its net consolidated profit during the quarter ended December 31, 2024. Its profit after tax stood at Rs 1,434.89 crore in Q3 FY25 as against Rs 1,169 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at Rs 7,069.99 crore in Q3 FY25, a growth of 3.91 per cent from Rs 6,804.19 crore it recorded in the similar quarter ...Read More >
NEW DELHI: Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development business of the Mahindra Group, has reported net consolidated loss after tax of Rs 22.47 crore during the quarter ended December 31, 2024. It had registered profit after tax of Rs 50.02 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at Rs 185.77 crore in Q3 FY25, a growth of 109.27 per cent from Rs 88.77 c ...Read More >
NEW DELHI: RMZ in partnership with Canada Pension Plan Investment Board (CPPIB) plans to develop a commercial project-RMZ Nexus with an investment of $750 million on Jogeshwari-Vikhroli Link Road, Mumbai. Spanning across 3.74 million sq ft, the project has six towers on a 10.94-acre site. The project is expected to be complete by 2027. In August 2024, RMZ Corporation and Canada Pension Plan Investment Board (CPP Investments) had completed the sale of One Paramount 1 to Singapore-based Keppel, ...Read More >
NEW DELHI: The Housing and Urban Affairs Ministry is likely to build a 7-km underground metro corridor connecting key landmarks such as the new Common Central Secretariat, India Gate, Bharat Mandapam and the North and South blocks to the Indraprastha metro station, sources said on Tuesday. The Delhi Metro Rail Corporation (DMRC) has been asked to finalise the proposed alignment, they said, adding it will be an extension of the Inderlok-Indraprastha metro corridor that was approved by the Union C ...Read More >
NEW DELHI: Delhi Lieutenant Governor V K Saxena on Monday said over 6,000 people participated in the first two days of the DDA's special camps in unauthorised colonies under the PM-UDAY scheme and 1,028 new applications have been received for ownership rights. In a post on X, Saxena said 6,654 people participated in the 10 camps and flaws in 710 old applications were removed. A total of 1,028 new applications were received for ownership rights and 275 applications were approved, he said, adding ...Read More >
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