Bangalore News Desk

13 Mar 2026

The Greater Bengaluru Authority (GBA) has issued a final warning to 1,010 property owners who have not paid property tax, with total pending dues estimated at about INR 33.9 crore across five city corporations. The unpaid amount includes around INR 14.3 crore from 510 major defaulters and INR 19.6 crore linked to about 500 reassessment cases. Civic officials have asked zonal authorities to speed up recovery and have published lists of major defaulters online. The authority has also begun auctioning properties to recover dues, with two properties already auctioned in the KR Pura zone.Read more

13 Mar 2026

Mysuru City Corporation (MCC) has proposed deploying Light Detection and Ranging (LiDAR) technology to enhance property tax assessment and strengthen municipal revenue collection in Mysuru, Karnataka. The civic body intends to conduct drone-based aerial surveys to generate precise three-dimensional maps of properties, enabling authorities to identify building dimensions, number of floors, land-use changes, and unauthorised constructions that may currently be outside the tax net. MCC presently collects around INR 237 crore annually in property tax from nearly two lakh residential and commercial properties, while water tax collection stands at about INR 60 crore. With LiDAR-based GIS property mapping, the civic body expects property tax collections to increase to approximately INR 300 crore and water tax receipts to about INR 90 crore. The proposal has been submitted to the state urban development department, following a technical demonstration conducted by experts from the National Institute of Technology, Calicut.Read more

12 Mar 2026

The initial public offering (IPO) of Raajmarg Infra Investment Trust (RIIT), sponsored by the National Highways Authority of India (NHAI), was subscribed 16% on the first day of bidding. The INR 6,000 crore InvIT issue received bids for 3.39 crore units against 21.33 crore units on offer, according to stock exchange data. The institutional investor category was subscribed 20%, while the portion reserved for other investors saw 11% subscription. A day earlier, the InvIT raised INR 1,728 crore from anchor investors including Life Insurance Corporation of India, ICICI Prudential Life Insurance, Kotak Mahindra Life Insurance and Bajaj Life Insurance. The issue is priced at INR 99-100 per unit and will remain open until March 13. The InvIT is backed by an initial portfolio of five toll road assets spanning more than 260 km across four states.Read more

Kolkata News Desk

12 Mar 2026

The Kolkata Municipal Corporation (KMC) has sealed several commercial establishments in central Kolkata as part of an enforcement drive to recover unpaid property taxes from defaulting property owners. In one such operation, civic officials sealed 15 shops at Shreeram Arcade near SN Banerjee Road after issuing distress warrants to traders who had failed to clear outstanding tax dues. Municipal officials indicated that property tax arrears of around INR 5.5 crore remain pending from the shopping complex alone. Some traders reopened their establishments after making partial payments during the drive, while the civic body has set a deadline of 31 March for full settlement of dues. The enforcement action forms part of a broader municipal effort to improve property tax compliance among commercial establishments in key trading areas of central Kolkata.Read more

Mumbai News Desk

12 Mar 2026

Investment manager Arnya Real Estates Fund Advisors and Mumbai-based developer Supreme Universal have secured commitments of about INR 1,030 crore for their Arnya Real Estate Fund � Equity, marking the first close of the investment platform launched in November 2025. The Sebi-registered Category II alternative investment fund has a target corpus of INR 1,250 crore and will focus primarily on residential redevelopment opportunities in Mumbai, while also evaluating projects in Pune. Capital has been raised from a mix of domestic and offshore investors, including family offices and high-net-worth individuals, with around INR 220 crore committed by the sponsors themselves. The fund will deploy equity capital into redevelopment-led housing projects, with individual investments expected to range between INR 80 crore and INR 200 crore across several transactions currently under evaluation.Read more

Pune News Desk

12 Mar 2026

The Pune Municipal Corporation (PMC) is examining the use of artificial intelligence to identify unassessed properties and strengthen property tax collection as part of its revenue strategy for the upcoming financial year. Civic officials indicated that roughly 3.5 lakh properties within the city remain outside the municipal tax database, including buildings in newly merged areas and redeveloped structures where records have not been updated. The proposed AI-based assessment system would analyse municipal records, building footprints and geospatial data to detect properties missing from the tax net or inaccurately assessed. The initiative forms part of PMC�s broader effort to improve tax recovery and expand its revenue base, with the civic administration targeting around INR 7,000 crore in property tax collections from defaulters in the current fiscal year.Read more

12 Mar 2026

Indian Railway Finance Corporation (IRFC) has approved a borrowing programme of up to INR 70,000 crore for the financial year 2026-27 to meet the funding needs of Indian Railways and support its lending operations. The funds will be raised through a mix of financial instruments depending on market conditions. The borrowing will be used for railway project financing, refinancing of existing liabilities and supporting new initiatives under the company's IRFC 2.0 strategy. As the dedicated financing arm of the Ministry of Railways, IRFC continues to play a key role in raising capital for railway infrastructure development in India.Read more

11 Mar 2026

The Pune Municipal Corporation has presented a draft budget of INR 13,995 crore for the financial year 2026-27, with a strong focus on urban mobility, road development and infrastructure expansion. A major share of the allocation has been directed towards improving road connectivity and supporting development in the 34 villages that were recently merged into the city limits. Around INR 1,800 crore has been earmarked for road and transport infrastructure, along with funds for land acquisition, footpath development and environmental initiatives. The civic administration expects an improvement in revenue in the coming financial year despite the ambitious outlay.Read more

11 Mar 2026

Pirojsha Adi Godrej, Executive Chairperson of Godrej Properties, acquired nearly a 1.8% stake in Arvind SmartSpaces through an open market transaction worth about INR 40.7 crore. The deal involved the purchase of 8,17,530 shares at an average price of INR 498 per share. The shares were sold by HDFC Capital Affordable Real Estate Fund-1, an affiliate of HDFC Capital. After the transaction, the stock of the Ahmedabad-based developer closed slightly lower on the BSE. The investment reflects continued investor interest in listed real estate companies as housing demand and development activity remain steady in several cities.Read more

11 Mar 2026

Senior NCP (SP) leader Jayant Patil criticised the Maharashtra budget, pointing out gaps in farm loan waivers, rural development, and social welfare allocations. While the state government announced a crop loan waiver of up to INR 2 lakh until September 2025, Patil said it falls short of the INR 5 lakh promised during the election. He also highlighted rising state debt, underfunded social and agricultural schemes, and the closure of rural schools amid large infrastructure loans. Patil urged the government to address AI-related challenges and inclusive growth concerns.Read more