A recent Comptroller and Auditor General (CAG) report has revealed that 40 private developers in Mumbai collectively owe INR 261.14 crore to MHADA for transit tenements provided during redevelopment projects spanning 25 years. These temporary housing units were meant for residents displaced from old or slum structures, with developers required to pay advance rent and a security deposit. Of the 43 developers allotted 3,357 transit units, only three have cleared dues. The report highlights ongoing financial irregularities and poor compliance in Mumbai's real estate sector.Read more

NLC India Renewables Limited (NIRL), the green energy arm of government-owned NLC India, is set to launch an Initial Public Offering (IPO) aiming to raise INR 4,000 crore. This capital infusion will support NIRL's ambitious expansion plans to achieve 10 GW of green energy capacity by 2030, with a long-term target of 32 GW by 2047. The move, bolstered by a recent Cabinet Committee on Economic Affairs (CCEA) approval granting NLC India significant investment flexibility, aligns with India's broader national goals of achieving 500 GW of non-fossil fuel energy by 2030 and net-zero emissions by 2070.Read more

Telangana's Indiramma housing programme is facing hurdles as the Centre withholds PMAY-Gramin funds due to missing Aadhaar-based live facial authentication for 19.5 lakh rural beneficiaries. The biometric process is a key eligibility step under revised PMAY-G norms. Despite launching construction for 1.5 lakh homes, Telangana must complete these uploads by month-end to restore central funding. Meanwhile, the state is using its own funds to continue work, with INR 1.5 lakh earmarked per unit. In contrast, Telangana's PMAY-Urban progress remains strong-1.13 lakh units were approved and INR 1,500 crore released earlier this year, contributing to its broader five-year goal of 20 lakh homes.Read more

Housing societies across Maharashtra are in limbo over the non-agricultural (NA) tax, despite a state cabinet decision to abolish it for residential areas within municipal limits. Without a formal government resolution (GR), the waiver remains unenforceable. Revenue authorities continue to issue tax demand notices-over 300 in Pune alone-leaving societies burdened by penalties and legal threats. The NA tax, a colonial-era levy on land converted from agricultural to residential use, was expected to be scrapped last year. Divided over whether to pay or wait, many societies and welfare associations are urging the government to act. Officials cite election-related delays for the holdup.Read more

Kalpataru Ltd has recorded its highest-ever annual pre-sales, touching INR 4,531 crore for the financial year ending March 2025, reflecting a 41% increase over the previous year. The surge was driven by robust demand across the residential segment, launch of seven new projects totalling 6.5 million sq. ft., and two major redevelopment agreements worth INR 2,100 crore in gross development value. With its successful IPO in June, which raised INR 1,590 crore, the company significantly reduced its debt and reported a strong rebound in net profit. Its focus remains on the Mumbai Metropolitan Region and Pune its key growth markets.Read more

Lodha Developers Ltd. has raised INR 350 crore through non-convertible debentures (NCDs) via private placement, aiming to support its ongoing business expansion. This follows an earlier INR 300 crore NCD issue in July, reflecting the company's steady capital-raising strategy. NCDs are fixed-income instruments that help firms raise funds without diluting equity. Lodha, formerly Macrotech Developers, is a major player in India's real estate market, with a strong presence in Mumbai, Pune, and Bengaluru. Its diverse portfolio spans residential housing, office spaces, malls, and industrial parks. The latest funding round highlights Lodha's focus on scaling its projects and maintaining growth momentum.Read more

The Municipal Corporation of Delhi (MCD) has conducted 2,333 property tax camps across 12 zones under the SUNIYO scheme, aimed at boosting compliance and offering relief to property owners. With over 59,000 taxpayers already availing benefits, the initiative has generated INR 145.19 crore in collections. The scheme grants a full waiver on interest and penalties for dues predating FY 2020-21, provided the principal tax for FY 2025-26 and the previous five years is cleared. A 10% rebate on lump sum payments for FY 2025-26 remains available until the end of July.Read more

Brigade Enterprises Ltd has acquired a 20.19-acre plot in the Whitefield-Hoskote corridor of Bengaluru for INR 588.33 crore to develop a residential-cum-commercial project with a 4.2 million sq ft development potential. The company anticipates revenue of INR 5,200 crore from the project. Positioned as a landmark development, the project forms a part of Brigade's ongoing growth strategy in South India, where the firm already holds a strong presence.Read more

Mohali district's municipal bodies have witnessed an exceptional surge in property tax collections under the ongoing One-Time Settlement (OTS) scheme, bringing in INR 11.43 crore within just 19 days. This drive, initiated to recover pending dues with penalty waivers, saw Zirakpur contribute the highest at INR 7.53 crore, followed by Kharar and Derabassi. In an effort to facilitate taxpayer convenience, municipal offices remained open over weekends. Officials confirmed that the scheme offers full and partial penalty waivers based on payment timelines. This performance reflects growing public responsiveness and an efficient urban governance framework.Read more

Sweden-based EQT has completed its INR 1,750 crore (USD 210 million) acquisition of Niwas Housing Finance, formerly Indostar Home Finance. EQT will also inject INR 500 crore in growth capital to aid Niwas's expansion across India and enhance its digital infrastructure. Focused on affordable housing loans in tier 2-4 cities, Niwas has supported over 47,000 low-income homeowners and manages assets worth over INR 3,000 crore. EQT aims to scale the company to assist 1.5 lakh families by 2029. This move deepens EQT's presence in India's retail lending sector, following its investment in Credila, and marks a new chapter in Niwas's growth journey.Read more