The Panvel City Municipal Corporation (PCMC) has extended its property tax amnesty scheme until September 30, 2025. This decision, influenced by a protest rally from opposition parties, offers a 90% fine exemption until September 15, and a 75% rebate from September 16 to September 30. The extension replaces a four-tier system and aims to recover a significant portion of the INR 1,842 crore in outstanding property tax dues, which represents 47% of the civic body's 2025-26 budget.Read more

The Kerala state cabinet has approved a loan of INR 1,500 crore from the Housing and Urban Development Corporation (HUDCO) through the Kerala Urban and Rural Development Finance Corporation (KURDFC) to fund the LIFE Mission housing scheme. The loan, spread over two years, will finance the construction of over 127,000 houses for homeless and landless families, with priority for Scheduled Caste and Scheduled Tribe beneficiaries. Alongside, the government has announced welfare measures such as Onam gifts for elderly tribal members and the creation of new teaching posts in nursing colleges to strengthen social support and education in the state.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

Weaver Services, a technology-driven housing finance company, has successfully raised approximately INR 1,482 crore (USD 170 million) in a new funding round. The investment was co-led by Lightspeed and Premji Invest, with additional participation from Gaja Capital. The funding will be used to acquire assets, enhance its technology platform, and expand its services to provide affordable housing finance to self-employed individuals in smaller Indian cities.Read more

Cube Highways Trust, managed by Cube Highways Fund Advisors Pvt. Ltd., has completed a bond issue worth INR 820 crore through privately placed non-convertible debentures. The issue was split into two tenors, with bonds maturing in about three and a half years at a coupon of 6.93% and in ten years at 7.3015%. With this, fixed-rate borrowings now account for over 33% of the trust's obligations. The proceeds will mainly go towards repayment of existing borrowings. Backed by a strong investor base, the issue has received AAA/Stable ratings from leading credit rating agencies.Read more

The Lucknow Municipal Corporation (LMC) has ramped up its efforts to recover pending property taxes by sealing and attaching 24 buildings across multiple zones. The civic body's move comes in response to a continued backlog of unpaid dues, despite earlier initiatives such as online payment systems and one-time settlement schemes. The action targets high-defaulter properties and reflects LMC's stricter enforcement measures to improve revenue collection and ensure compliance among property owners.Read more

India's Infrastructure Investment Trusts (InvITs) sector is projected for substantial growth, with its assets under management (AUM) expected to surge to INR 21.5 lakh crore (USD 258 billion) by 2030, a more than threefold increase from its current size. This significant expansion is being driven by a surge in India's infrastructure investments and robust government initiatives like the National Monetisation Pipeline (NMP). While the InvIT sector is already gaining traction, it has considerable untapped potential across various infrastructure domains, which is expected to attract significant global capital.Read more

Mumbai-based real estate developer Runwal Enterprises has received approval from the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) of INR 1,000 crore. The IPO, which will be a fresh issue of shares, aims to strengthen the company's balance sheet and fund future expansion plans. This approval, which comes amidst record-high property sales in Mumbai, reflects the company's strong financial performance and its growing presence in the residential and commercial markets.Read more

Mindspace Business Parks REIT has raised INR 550 crore from the International Finance Corporation (IFC) by issuing sustainability-linked bonds, following an earlier fundraising of INR 650 crore through a similar route last year. With this, the total raised under this structure stands at INR 1,200 crore. The issuance carries an eight-year tenure and a 'AAA (Stable)' rating from ICRA. As the first REIT in India to use sustainability-linked bonds under SEBI's ESG framework, Mindspace aims to expand its portfolio of green-certified office spaces across key business hubs in the country.Read more

Honda Motor Co Ltd has established a new subsidiary, Honda Finance India Pvt Ltd, to provide retail financing services in the country. The company plans to offer loans and lease options for its motorcycles and cars, in line with rising demand for vehicle financing. Traditionally, such services in India have been led by local banks and financial institutions. With this move, Honda joins eight other countries where it already operates dedicated financing subsidiaries. The company will soon apply for a non-banking financial company (NBFC) license before starting operations.Read more