The Telangana government has agreed to acquire Phase-I of the Hyderabad Metro Rail project from L&T Metro Rail Hyderabad Ltd (LTMRHL) in a INR 15,000 crore deal. This includes assuming INR 13,000 crore of LTMRHL's debt and paying INR 2,000 crore for L&T's equity stake. L&T's decision to exit follows financial challenges and operational difficulties. The state aims to expedite approval for Phase-II by the Government of India through this acquisition.Read more

The Margao Municipal Council has implemented a new capital value-based method for calculating house tax, leading to a significant increase in property tax rates. This change, based on a directive from the Directorate of Municipal Administration, has resulted in over 300% higher taxes for new residential and commercial properties. Under the new system, residential properties are taxed at 0.15% of their annual capital value, while commercial properties face a 0.25% tax rate. The capital value is determined by adding land and construction costs. Existing properties will continue to be taxed under the previous rental value method.Read more

RKCPL Ltd, a Haryana-based infrastructure and construction company, has filed draft papers with the capital markets regulator to raise INR 1,250 crore through an initial public offering. The IPO will include a fresh equity issue of INR 700 crore and an offer-for-sale of INR 550 crore by existing shareholders Naresh Kumar and Krishan Kumar Goyal, who plan to sell shares worth INR 275 crore each. Funds from the fresh issue are earmarked for working capital, equipment purchase, debt repayment, and investments in subsidiaries. The company is active in EPC and Hybrid Annuity Model projects across India.Read more

The red brick industry has requested the government to lower GST on bricks to 5 per cent and remove them from the Special Composition Scheme. While sand lime bricks received a reduction, all other bricks remain at 6 per cent GST and 12 per cent with ITC. Industry leaders point out that bricks contribute around 10 per cent of construction costs and that higher coal GST is raising production expenses for brick kilns employing millions of workers. The government has not yet acted on the broader demand, keeping the rate unchanged.Read more

Property prices along the Yamuna Expressway in Delhi-NCR have shown a dramatic rise in the past five years, driven largely by rapid infrastructure development and investor confidence. According to InvestoXpert's RealX Stats report, apartment values have increased by 158 per cent while plot prices have soared by more than 536 per cent. With major projects such as Jewar Airport, Film City and dedicated logistics hubs underway, the corridor has strengthened its position as a high-performing real estate destination.Read more

CapitaLand India Trust (CLINT) has announced the divestment of CyberVale in Chennai and CyberPearl in Hyderabad for INR 1,103 crore (SGD 161.7 million), its first asset sale since listing on the Singapore Exchange in 2007. The two IT parks, spanning 1.4 million sq ft, were sold at a 3% premium to their December 2024 valuations. CLINT expects net proceeds of INR 1,082.8 crore, which will be used for debt repayment and reinvestment into higher-yielding projects. Post-sale, CLINT's portfolio will total 21.2 million sq ft.Read more

TDI Infrastructure has announced an INR 100 crore investment to redevelop its 1,100-acre TDI City in Kundli, aiming to make it an affordable residential option for North and West Delhi residents. The redevelopment plan includes upgrading 62 parks, improving internal roads, enhancing the existing clubhouse, and adding a second clubhouse to accommodate rising population density. The company has introduced construction incentives for plot owners and leverages the township's connectivity, including UER-II, proximity to Delhi, and upcoming transport projects, to boost demand.Read more

Prime Minister Shri Narendra Modi outlined the government's continued focus on GST reforms and economic strengthening, noting that citizens will benefit from reduced tax burdens and increased savings. He recalled the 2017 introduction of GST and highlighted the latest structural reforms earlier this year. Modi also discussed key initiatives, including tax exemptions for individuals earning up to INR 12 lakh, and developments in India's defence manufacturing, such as the upcoming production of AK-203 rifles. Emphasizing self-reliance and research, he encouraged global investment, citing India's resilient growth despite geopolitical uncertainties.Read more

The Andhra Pradesh Metro Rail Corporation (APMRC) has authorized joint venture (JV) participation in the International Competitive Bidding (ICB) tenders for Phase 1 of the Visakhapatnam and Vijayawada metro rail projects. This move aims to encourage wider participation and expedite project completion. The Phase 1 tenders cover 46.23 km in Visakhapatnam and 38 km in Vijayawada, accounting for 40% of each project's cost and focusing on civil works. The APMRC has set the tender submission deadlines for Visakhapatnam and Vijayawada metro projects as October 10 and October 14, respectively, with no plans for extensions. The metro projects are expected to be completed within 35 to 40 months and become operational by 2028.Read more

JSW Group is preparing to raise about INR 70,000 crore (around USD 790 million) by issuing zero-coupon bonds through its holding company JTPM Metal Traders. The funds will mainly support JSW Paints' acquisition of up to a 75% stake in Akzo Nobel India, recently cleared by the Competition Commission of India. The bonds will mature in four years and seven months, carry an 8.50% yield, and include put and call options after three years. The issue is rated AA by Crisil and Care Ratings, with anchor investors expected to contribute close to INR 21,000 crore.Read more