The Navi Mumbai Municipal Corporation (NMMC) has launched a newly updated online property tax collection system, aimed at simplifying the payment process for residents. Municipal Commissioner Dr Kailash Shinde introduced this modernised system earlier this week, integrating advanced technologies such as net banking, UPI, QR codes, and digital wallets. As a result, online tax payments have reportedly increased by nearly 15%. Additionally, the Bharat Bill Payment System (BBPS) is set to be implemented within the next 2 weeks, offering residents 24x7 access to make secure payments through major banks and digital platforms. Furthermore, the Municipal Corporation has introduced the Abhay Yojana, granting a 50% concession on late payment penalties for arrears, encouraging citizens to settle outstanding dues by the end of March.Read more

Bessemer Venture Partners (BVP) has launched its second India-focused fund worth $350 million, a 50% increase from its 2021 fund ($220 million). The firm will target early-stage startups in AI, fintech, SaaS, cybersecurity, digital health, and D2C brands. BVP has previously backed BigBasket, Swiggy, Urban Company, Pharmeasy, and Perfios, among others. With $18 billion in global assets, BVP aims to capitalize on India's expanding tech ecosystem. The firm's increased investment signals strong confidence in India's technology-driven future, potentially attracting more global investors to the region's startup landscape.Read more

First-time investors are increasingly opting for plotted-developments due to their strong appreciation potential and long-term capital-growth. A Magicbricks survey of 2,200 homebuyers found that 58% preferred plots, with Bengaluru (36.5%), Chennai (11.0%), and Lucknow (8.9%) leading demand in Q4 2024. Mid-sized plots (1,000-2,000 sq. ft.) accounted for 46.76% of demand, while 50.83% of buyers sought plots under INR 50 lakh. Hyderabad's average plot-price was INR 2,765 per sq. ft., with Shadnagar and Kadthal as key-hubs. Gurugram and Noida remain premium-markets, but Greater Noida, at INR 7,654 per sq. ft., offers an affordable investment-opportunity.Read more

Office space absorption across 11 major Asia-Pacific (APAC) markets grew 15.9% YoY to 94.7 million sq. ft. in 2024, led by India, Mainland China, and Japan, according to Colliers. India dominated the market with 66.4 million sq. ft. leased, with Bengaluru and Hyderabad driving over half of Grade A office demand. Global capability centres (GCCs) leased 15 million sq. ft., accounting for 40% of India's leasing. New supply in India rose 7% YoY, maintaining 17% vacancy levels. APAC's office sector is expected to see steady demand-supply dynamics in 2025, reinforcing India's position as a key hub for corporate expansions and outsourcing.Read more

Earlier this week, the Brihanmumbai Municipal Corporation (BMC) initiated action against two developers-Sumer Build Corporation Private Limited and RR Developers-over outstanding property tax dues amounting to INR 18 crore and INR 3.62 crore, respectively. As part of its ongoing crackdown on defaulters, the civic body has seized and attached their properties for failing to settle their dues within the stipulated period of 21 days. According to a BMC release, the property tax assessment and collection department has begun proceedings to seize and auction these assets. Sumer Build Corporation owns a plot in Mazgaon, while RR Developers has a plot situated in Gavanpada village, Mulund.Read more

The Municipal Corporation of Ludhiana (MCL) sealed three unauthorized shops in Model Town Extension (Block B) as part of its intensified crackdown on illegal constructions. Inspections in Raghunath Enclave found no violations, with the project adhering to urban planning norms. MCL Commissioner Aaditya Dachalwal warned of strict actions against non-compliant builders, aligning with similar enforcement drives in Chandigarh, Amritsar, and Delhi. With rapid urbanization, Punjab's municipal bodies are strengthening regulations, following Delhi Development Authority's (DDA) model of demolitions and fines to curb unauthorized construction and encroachments.Read more

Nashik's housing market grew by 22% in 2024, with 8,583 apartment sales, while new supply dropped by 30%, reducing unsold inventory by 15%. Despite strong demand, prices remained stable between INR 3,134-INR 15,833 per sq. ft., making Nashik an attractive alternative to Mumbai's high real estate costs. Improved infrastructure, industrial growth, and enhanced connectivity have boosted investment interest. The city's wine industry, tourism, and manufacturing sectors further drive demand for both residential and commercial spaces. With major developers expanding in the region and Nashik's strategic location near Mumbai, the city is emerging as a key real estate investment destination.Read more

The Tamil Nadu government has launched a modernized property registration model, piloted at the Adyar Sub-Registrar Office (SRO) in Chennai, as part of a statewide upgrade of 30 SROs by 2025. The initiative introduces digital systems, token-based entry, and enhanced visitor amenities, improving efficiency and transparency. Inspired by Andhra Pradesh's Bhudhaar system and the Digital India Land Records Modernization Programme (DILRMP), the move aligns with India's broader digitization efforts. With Tamil Nadu's Adyar SRO processing INR 295 crore in 2023-24, the reforms are set to revolutionize land registration and enhance real estate transactions across the state.Read more

Axis Bank has become the first Indian bank to facilitate an aircraft financing transaction at Gujarat's Gift City IFSC. The deal, structured for AI Fleet Services Ltd, funds the purchase of 34 training aircraft for Air India's upcoming pilot training institute in Amravati, Maharashtra. This move aligns with India's push to establish Gift City as a global aviation leasing hub, reducing reliance on foreign lessors. Air India, currently undergoing a five-year transformation under Vihaan.AI, has placed a record-breaking order for 570 aircraft, with Gift City expected to play a key role in financing these acquisitions. Axis Bank's involvement signals a growing role for Indian banks in aviation finance.Read more

Sun Pharma is set to acquire Checkpoint Therapeutics, a Nasdaq-listed oncology and immunotherapy company for USD 355 million. This acquisition will strengthen Sun Pharma's specialty portfolio and include UNLOXCYT, an FDA-approved treatment for advanced skin cancer. Sun Pharma's CMD, Dilip Shanghvi, stated that this move would expand patient access to critical oncology therapies. James Oliviero, the CEO of Checkpoint, emphasized the deal's benefits for shareholders and how it will help UNLOXCYT expand its market reach. Upon completion, Sun Pharma will acquire all Checkpoint shares, with stockholders receiving USD 4.1 per share. The deal is expected to close in Q2 2025, subject to approvals, and includes a royalty agreement with Fortress Biotech.Read more