Aligarh Muslim University (AMU) has been issued a notice by the Aligarh Municipal Corporation (AMC) to clear pending house tax dues of INR 24.4 crore within 15 days, failing which legal action may follow. The dues, linked to 18 properties, have accumulated since 2017. AMC has warned of account attachment if payments are delayed. AMU officials confirmed they are awaiting a grant from the UGC to settle the amount. The case underscores the financial strain on educational institutions reliant on government funding and raises questions about managing tax obligations and financial planning in the sector.Read more

The Ahmedabad Municipal Corporation (AMC) has intensified efforts against property tax defaulters, sealing 1,218 properties in the East Zone and 239 in the South Zone, recovering INR 65.62 lakh. Defaulters have been warned of service disconnections and potential property auctions if dues remain unpaid. AMC's tax collections have dropped to INR 1,695.54 crore for FY 2024-25, only 78.76% of last year's INR 2,152.82 crore, raising financial concerns. The corporation plans to enhance tax compliance through public awareness and digital payment solutions to ensure continued funding for essential services and infrastructure development across Ahmedabad.Read more

The New Town Kolkata Development Authority (NKDA) has initiated property tax collection and mutation camps at residential complexes, aiming to boost compliance and revenue before the financial year ends in March. These on-site camps offer a hassle-free way for residents to update property records and pay taxes without visiting government offices. NKDA officials are providing guidance on documentation and tax processes, encouraging apartment owners to participate. With a growing population, the initiative aims to streamline tax collection, ensure accurate property records, and support the sustainable development of New Town.Read more

The Bhubaneswar Municipal Corporation (BMC) has launched two digital platforms to enhance municipal services and improve market operations. In collaboration with a private bank, BMC developed a WhatsApp chatbot that allows residents to pay property taxes, trade license fees, and user charges while submitting grievances conveniently via smartphones. Additionally, Emer RND Solutions Pvt. Limited created a market/vending zone rental collection application, which BMC introduced to automate rental collections and enable real-time payment tracking. These initiatives aim to transform urban governance, streamline revenue processes, and promote transparency, reinforcing BMC's commitment to efficient, citizen-centric service delivery and sustainable urban development.Read more

The Patna Municipal Corporation (PMC) has launched a 13-day campaign targeting property tax defaulters, beginning with visits to seven properties on Exhibition and Jamal Roads. Five owners cleared dues on the spot, while two sought extensions. With 491 defaulters identified citywide, PMC's efforts have raised daily collections to INR 22 lakh, with a target of INR 200 crore for 2024-25. Past tax drives funded urban improvements like infrastructure upgrades and waste management, and the current campaign aims to replicate this success. By intensifying enforcement and encouraging compliance, the PMC is boosting fiscal health and supporting Patna's urban development.Read more

The Mysuru City Corporation's (MCC) recently launched e-khata drive has significantly boosted revenue, with December collections rising by INR 1.7 crore compared to November, reaching INR 9.3 crore. The initiative required property owners to clear five years of pending property tax and water cess dues to obtain digitally processed khatas. Over 2,500 property owners settled arrears, addressing key revenue streams. MCC officials attributed the success to effective public awareness efforts and the scheme's structure, which motivated compliance. The drive showcases how innovative approaches and community engagement can enhance municipal governance and financial health, setting an example for similar initiatives elsewhere.Read more

In 2024, foreign investors accounted for 54% of institutional investments in India, totaling USD 3.7 billion-despite a decline from 65% in 2023. Total institutional investments rose 61% to USD 6.8 billion, driven by a 203% surge in industrial and warehousing sectors amid booming e-commerce demand. Commercial real estate retained the largest share at 35%, though down from 61% in 2023. The residential sector saw a 171% growth, reaching USD 2.0 billion. Experts anticipate challenges in 2025 but expect potential RBI rate cuts and government incentives to sustain momentum, particularly in affordable housing.Read more

In 2024, India's land acquisition market demonstrated resilience, with 133 deals totaling 2,948 acres, according to ANAROCK data. NCR led with 38 deals covering 417 acres, while MMR recorded the highest land volume, transacting 607 acres across 30 deals. Residential projects dominated, accounting for 95 deals, driven by rising urban migration and government incentives. Industrial and logistics parks saw 97 acres acquired in response to e-commerce growth, while mixed-use developments covered 124 acres. Commercial spaces and data centers secured 175 acres, reflecting increasing demand for office and digital infrastructure. Despite rising land prices, developers remain focused on strategic acquisitions to meet evolving urban needs.Read more

The Nagpur Municipal Corporation (NMC) is grappling with a massive property tax arrears issue, with state government departments emerging as some of the largest defaulters. According to data from NMC's property tax department, the total outstanding property tax has reached a staggering INR 850.1 crore as of December 31, 2024. Government departments alone owe INR 83.74 crore in arrears, with an additional INR 10.06 crore for the current financial year, taking their total liability to INR 93.81 crore.Read more

CBRE Group has made a significant move by acquiring the remaining 60% stake in Industrious National Management Company, a flexible workspace provider, for USD 400 million. This acquisition will lead to the creation of a new business unit called Building Operations & Experience, aimed at integrating building operations, workplace experience, and property management. The unit will be led by Jamie Hodari, CEO and co-founder of Industrious. This strategic decision comes as the U.S. office property market shows signs of recovery after the severe impact of the COVID-19 pandemic and the shift to remote work. With this acquisition, CBRE's total investment in Industrious is now valued at approximately USD 800 million, including debt.Read more