Microsoft India (R&D) has secured a significant office lease in Hyderabad's financial district, occupying 264,000 square feet at Phoenix Centaurus. The five-year agreement, effective from July 2025, involves a base rent of INR 1.77 crore per month, escalating annually by 4.8%. The total monthly outgo, including additional expenses, amounts to INR 5.4 crore. This expansion underscores Microsoft's commitment to enhancing its research and development capabilities in India, particularly in Hyderabad's thriving tech ecosystem.Read more

The Central Board of Direct Taxes (CBDT) has proposed enhanced measures to tackle benami real estate transactions. A recently submitted report recommends granting tax officials access to Aadhaar data, state property registries, and vehicle records to identify 'dummy directors' in shell companies. The panel also suggests amending laws to allow confiscation of assets linked to benami properties when the actual beneficiaries cannot be traced. These steps aim to address existing legal loopholes and strengthen enforcement against illicit property dealings.Read more

Bengaluru-based Brigade Group has secured a nine-acre land parcel in Chennai's IT corridor on a 55-year lease from YMCA. This strategic acquisition in the OMR (Old Mahabalipuram Road) area provides the company with a significant development potential of 1.6 million sq ft. The company plans to build a Grade-A office complex and a 200-key JW Marriott hotel, strengthening its commercial and hospitality footprint in Chennai. This move capitalizes on the city's robust real estate market, which is experiencing growth fueled by infrastructure development and high demand for both commercial and residential properties in the IT sector. The project is a key part of Brigade's expanding presence in the region.Read more

Wipro has announced the acquisition of HARMAN's Digital Transformation Solutions (DTS) business unit for up to USD 375 million. The all-cash transaction will see more than 5,600 DTS employees from 14 countries, including key leadership, transition to Wipro. The acquisition is designed to enhance Wipro's AI-powered digital engineering capabilities and will be followed by a multi-year strategic agreement with HARMAN and Samsung, opening new avenues for joint innovation and growth. This deal, one of Wipro's largest in the ER&D space, is expected to close by December 31, 2025, subject to regulatory approvals.Read more

India's 28 listed real estate companies collectively achieved record sales bookings of nearly INR 53,000 crore during the April-June quarter of the current fiscal year, signaling a strong revival in the housing market. The stellar performance was led by Prestige Estates and DLF Ltd, which, with sales of INR 12,126 crore and INR 11,425 crore respectively, accounted for nearly half of the total. A notable trend from the data is a clear "flight to quality," as the top five branded developers cornered 71% of the total sales, reflecting a post-COVID preference among homebuyers for trusted, large-scale builders.Read more

The Delhi Development Authority (DDA) has initiated an e-auction for more than 200 premium properties, including function sites, kiosks, cafés, and mobile tower locations, to provide additional event spaces during the upcoming festive season. Registration for the auction began on August 26, with e-auctions scheduled to commence on September 30. The properties are offered on a license-fee basis for periods ranging from 10 to 12 months, with a mix of newly identified and reclaimed sites available for various commercial ventures across Delhi.Read more

Brigade Enterprises added 10 million sq ft to its land bank in the June quarter, with an estimated revenue potential of INR 11,200 crore. The company continues to focus on Tier-1 southern markets Bengaluru, Chennai, and Hyderabad where it sees significant growth opportunities. While sales bookings improved in value terms due to higher realisations, booked volumes declined. The company also reported strong financial results with sharp profit growth and higher income. With a strong pipeline, Brigade remains focused on steady expansion in its core markets.Read more

Centrum Capital Ltd has announced the divestment of its entire stake in its affordable housing finance business, Centrum Housing Finance Ltd (CHFL), to new-age lender Weaver Services for INR 430 crore. The sale, which is subject to regulatory and shareholder approvals, is a strategic move for Centrum to streamline its operations and focus on its core businesses. For Weaver Services, an entity backed by prominent investors like Premji Invest, Lightspeed Ventures, and Gaja Capital, the acquisition provides a crucial entry point into India's booming affordable housing finance market.Read more

Lowe's has confirmed an agreement to acquire Foundation Building Materials in a USD 8.8 billion deal, continuing its focus on professional builders and contractors. The distributor operates more than 370 outlets across North America and supplies around 40,000 pro customers. This follows Lowe's acquisition of Artisan Design Group earlier this year and reflects its broader "Total Home" strategy. With the new deal, Lowe's has raised its full-year sales outlook and reported stronger-than-expected quarterly earnings, signaling a deeper push into the professional construction segment.Read more

US-based semiconductor firm Microchip Technology has acquired 1.72 lakh sq ft of office space in Whitefield,Bengaluru for INR 176 crore. The purchase, which includes two commercial blocks from Ascendum Solutions India Pvt. Ltd., marks one of the largest office space buyouts in the city this quarter. The deal, valued at approximately INR 10,230 per sq ft, underscores a growing trend of global tech companies consolidating and owning assets in India to support their long-term growth and expand their R&D footprint.Read more

Israel Aerospace India Services Pvt Ltd, a subsidiary of Israel Aerospace Industries (IAI), has leased a 45,277 sq ft office space in Gurugram's Intellion IT Park for a monthly rent of INR 32.14 lakh. The five-year lease, which includes a 15% rent escalation every three years, is part of IAI's strategy to expand its presence in India. This move aligns with the "Atmanirbhar Bharat" initiative, as the company plans to establish a large-scale hub for the maintenance, repair, and overhaul (MRO) of defense equipment in the Gurugram area.Read more

The Madras High Court has ordered a citywide audit of property tax assessments in Madurai following a public interest litigation (PIL) that has exposed a massive INR 200 crore property tax scam. The court has also directed the formation of special teams to verify the correctness of all assessments. This action comes, as a Special Investigation Team (SIT) is already probing the scam, which allegedly involves the undervaluation of properties by officials, political figures, and the manipulation of the online tax system.Read more

The Phoenix Mills has acquired the Canada Pension Plan Investment Board's (CPP Investments) 49% stake in their joint venture, Island Star Mall Development (ISMDPL), for a total of INR 5,449.16 crore. This strategic move, which has been approved by the Competition Commission of India (CCI), gives Phoenix Mills full ownership and sole control of ISMDPL. The acquisition will be funded over three years and is intended to consolidate ownership of key retail assets, enhancing operational flexibility and positioning the company for long-term growth.Read more

Geberit posted a decline in its second-quarter profit as weak construction activity in Europe continued to affect its performance. The Swiss building materials supplier reported a 2.3% fall in quarterly EBITDA, slightly below analyst estimates. Renovation demand, however, remained stable and now accounts for nearly 60% of sales. While new build activity slowed across Europe and demand in China's housing market weakened, business in India and the Gulf stayed firm. Geberit continues to expect around 4% growth in net sales in local currencies and an EBITDA margin close to 29% for 2025.Read more

Transteel has recently secured workspace orders totaling INR 7.5 crore from leading companies, including Brookfield Properties, Oberoi Realty, and GE Healthcare. The orders cover complete office solutions, including interior design, construction, and supply of ergonomic furniture across multiple cities such as Bengaluru, Mumbai, Pune, and Chennai. With these projects, the company's total order book has crossed INR 44 crore. Transteel expects to complete the orders within 60 to 90 days. The company is also planning to expand its Design & Build vertical aggressively, targeting a compound annual growth rate of 49% over the next five years.Read more

In a lawsuit alleging data theft, the Delhi High Court has summoned the directors of real estate analytics firm Bhugol Analytics Private Limited (CRE Matrix) to respond to a plea by its rival, PE Analytics Limited (PropEquity). PropEquity claims that CRE Matrix stole its primary real estate data and unethically hired former employees in violation of their non-compete clauses. The firm, which has also filed a police complaint with the Gurugram cyber crime branch, is seeking a permanent injunction and INR 8 crore in damages for the alleged intellectual property theft.Read more

EZTax launched a new version of its self-service income tax e-filing portal with artificial intelligence features designed to simplify filing, reduce errors, and save time. The update is expected to cut e-filing duration by about 30% while helping taxpayers find savings and ensure accuracy. EZTax, an authorised e-Return Intermediary since 2016, has steadily expanded its technology, including AI planning tools introduced in 2017. The platform supports a wide range of filings, from standard ITR forms to complex cases such as crypto, overseas income, and capital gains, serving both Indian residents and NRIs in over 42 countries.Read more

The Indore Municipal Corporation (IMC) recently sealed 36 shops on the first floor of Siddhi Vinayak Market 2 on Jail Road due to non-payment of property tax and garbage collection fees. Officials clarified that the action followed repeated notices and ample time given to shopkeepers to settle their dues. Shopkeepers can have the seals removed by submitting registration documents, opening property tax accounts, and paying the pending amounts. The IMC emphasized that timely tax compliance is essential to maintain municipal services and infrastructure.Read more

IHCL is investing up to INR 5 crore in the redevelopment of Chotelal Ki Ghat in Kolkata, a historic site along the Hooghly River built in the 1870s. Supported by INTACH, the project focuses on restoration, conservation, landscaping, and beautification, in line with the Namami Gange Programme and Swachhata initiatives. Executives from IHCL and Syama Prasad Mookerjee Port emphasized enhancing the ghat's cultural significance and community engagement. The collaboration is part of a larger effort to revive heritage sites through private-public partnerships, aiming to make Chotelal Ki Ghat a prominent cultural and tourist destination.Read more

The Swedish home furnishing giant IKEA is projecting a sales growth of over 10% for its India business in the financial year 2025. This robust forecast is part of a strategic shift by the company to accelerate its expansion after a period of slower growth during the pandemic. To achieve this, IKEA is adopting a new multi-format approach, which includes opening a mix of traditional large stores, city stores, and a new format of smaller outlets ranging from 2,000 to 5,000 square feet. The company's focus is on enhancing its presence and affordability in the Indian market by establishing low-cost fulfillment and logistics operations.Read more