The cement industry is expected to face a prolonged period of excess capacity, with supply likely to grow faster than demand over the next few years. Installed cement capacity is projected to increase from around 654 million tonnes (mt) in FY25 to 702 mt in FY26, before reaching approximately 867 mt by FY29. Cement demand is also expected to remain healthy but is projected to grow at a slower pace than capacity. As a result, industry capacity utilisation could remain below 70% through FY29, according to industry estimates. Cement manufacturers are expected to add around 42 mt of capacity in FY27, 67 mt in FY28 and another 56 mt in FY29. Meanwhile, cement consumption is forecast to increase from approximately 486 mt in FY26 to 596 mt by FY29. Demand growth is estimated at 8.7% in FY26 and is expected to moderate to around 7.1% annually between FY27 and FY29. The continued addition of new production capacity could keep the supply-demand balance under pressure. With capacity expanding faster than consumption, cement manufacturers may face limited pricing power over the coming years. The trend could also have implications for the construction and real estate sectors, particularly through changes in cement prices, construction costs and project margins.

The deadline to pay property tax for the first half of the 2026–2027 financial year without penalty ends today, September 30, 2026, in Chennai. Property owners who fail to pay their dues within the specified deadline will be charged 1% interest per month on the outstanding tax amount. Residents have therefore been advised to complete their payments on time to avoid additional interest charges. Property tax and professional tax are among the major sources of revenue for the city administration and contribute towards infrastructure, civic services and development activities. Property tax is collected twice a year through the revenue and finance administration. Several payment options are available for residents. Property tax can be paid directly at zonal offices, ward offices and through tax collection officials. Residents can also make payments from home through the official online payment portal, mobile application, WhatsApp payment facility at 9445061913, and QR-code-based payment options. Property owners who have not yet paid their first-half property tax are advised to complete the payment today to avoid additional interest charges.

The Reserve Bank of India (RBI) is expected to raise the repo rate by 25 basis points to 5.50% in October, according to a majority of economists surveyed between September 18 and 28. If implemented, it would be the first RBI rate hike since February 2023. The expected increase comes as inflation has accelerated and energy and food prices remain elevated. India’s retail inflation rose to 4.82% in August, exceeding the RBI’s 4% medium-term target for the third consecutive month. Rising food and energy costs were among the key factors behind the increase. The RBI is also facing pressure from the weakening Indian rupee. The rupee has declined by around 6% against the US dollar this year, adding to concerns over imported inflation and monetary stability. The Reuters poll found that 35 of 61 economists expected the Monetary Policy Committee to increase the repo rate by 25 basis points during its October 5–7 meeting. The survey also showed that 29 of 53 economists expected at least another 25-basis-point rate increase by December. If rates rise, borrowing costs for home loans, personal loans and other floating-rate loans could increase depending on how banks and financial institutions pass on the change. The RBI’s August policy meeting had indicated that further rate action could be considered if inflationary pressures continued to broaden. 

Housing sales across major Indian cities declined by 6% during the July–September quarter, as homebuyers remained cautious amid subdued market conditions. Around 1.03 lakh housing units were sold during the quarter, compared with approximately 1.09 lakh units during the same period last year. The decline was mainly attributed to weaker buyer demand and a reduction in new project launches. Developers launched around 98,165 housing units during the quarter, compared with 1,00,330 units in the corresponding period last year, marking a decline of nearly 2%. Housing sales declined across several major markets, while a few markets recorded growth during the quarter. Some locations reported double-digit increases in sales, indicating that demand remained stronger in selected markets despite the overall slowdown. Among the markets that recorded declines, some witnessed sales falling by around 17%, while others reported decreases ranging between 8% and 16%. Despite the quarterly decline, one major market recorded the highest sales volume, with around 17,860 housing units sold during the period. The latest figures indicate that homebuyers are continuing to adopt a cautious approach before making property purchases. At the same time, developers appear to be adjusting new project launches in response to changing demand conditions. Despite the decline during the July–September quarter, housing sales and new residential supply in major urban markets have continued to remain close to the one-lakh-unit level per quarter, highlighting the continued scale of activity in the country's primary residential property market.

The Supreme Court has clarified that the legality of commercial properties and constructions located in residential areas must be examined based on the existing Master Plan and applicable building by-laws. The interim order was passed on September 22 and was subsequently uploaded on the court’s website. The clarification comes in the context of the revision of the Master Plan and the regulation of properties whose existing use or construction may be subject to planning restrictions. During the hearing, the court was informed that the existing Master Plan had not been revised for several years and that a new draft Master Plan had been prepared. The authorities sought permission to publish the draft so that members of the public and other stakeholders could submit their objections and suggestions. The Supreme Court permitted the publication of the draft Master Plan and allowed the process of inviting objections to proceed. However, it made it clear that the draft could not be given final approval without further permission from the court. An important aspect of the order is the court’s clarification regarding properties and constructions during this period. The authorities have been directed to examine whether a particular property or construction conforms to the existing Master Plan and the applicable building by-laws of the competent authority. This means that the proposed changes in the draft Master Plan cannot automatically be used as the basis for determining the present legality of a property. The existing planning regulations will continue to be relevant when authorities examine the legality of commercial use or construction. The Supreme Court also stressed that the authorities must apply the rules uniformly. Property owners and constructions must not be subjected to different standards based on selective enforcement. The court made it clear that if it is brought to its notice that authorities have adopted a selective or “pick-and-choose” approach while taking action against properties, the matter could be viewed seriously. The clarification is significant for owners of commercial properties situated in areas classified for residential use. The legality of such properties will have to be considered with reference to the currently applicable Master Plan, land-use provisions and building by-laws. At the same time, the publication of the draft Master Plan allows the planning revision process to move forward, including the submission of objections and suggestions. However, the draft will not become the final Master Plan without the required approval. The order therefore distinguishes between the existing planning framework used to assess current properties and the proposed Master Plan that is still undergoing the revision process.

The Tamil Nadu Housing Board (TNHB) is shifting towards a demand-driven housing model to reduce unsold inventory and ensure that new residential projects match the requirements of prospective homebuyers. Under the new approach, demand for one-, two- and three-bedroom homes will be assessed before construction begins. Based on the responses received, housing projects will be planned and developed according to the preferences and requirements of buyers. Officials said the earlier practice of constructing homes in different sizes before assessing demand had contributed to a large number of unsold properties. The new system is aimed at addressing this issue and improving the efficiency of housing projects. Housing projects have been proposed across several locations in Chennai and other parts of Tamil Nadu. The initiative will cover both residential flats and plots, depending on demand in individual locations. As part of the first phase, a dedicated online portal has been introduced to assess public demand. Interested homebuyers can register their requirements by selecting their preferred location, type of dwelling and other relevant preferences. The registrations will be used only to analyse housing demand and will not provide applicants with any priority or preference in the allotment of homes. The housing board is also planning to introduce additional quality-control measures. Building designs and project estimates will undergo third-party verification to strengthen the planning and construction process. Once construction work begins, prospective allottees will also be able to monitor the progress of their respective projects through the system. The demand-based approach is expected to help the housing board plan projects more efficiently, reduce unsold housing inventory and improve transparency throughout the construction process.

The Tamil Nadu Registration Department has revised certain procedures under its presenceless deed registration system, making it easier to complete eligible property registrations without physically visiting the Sub-Registrar’s Office. Under the revised procedure, a free certificate obtained online will be sufficient for registering eligible house and land sale deeds, mortgage documents and other specified documents under the new registration system. The department has made these changes after receiving requests and feedback regarding practical difficulties faced during the implementation of the scheme. Earlier, applicants were required to obtain a certificate by paying a fee for certain presenceless registrations. The revised procedure also allows mortgage deeds submitted through the Citizens’ Gateway to be accepted for registration. In addition, ownership proof will not have to be verified for specified receipt documents related to the completion of loans. Another major change is the removal of the holiday fee for presenceless deed registration. Applicants will therefore not be required to pay an additional holiday charge when eligible documents are registered under the system. The department has also clarified that ‘Presentation Power’ documents cannot be used for presenceless registration. Under the online system, the document holder can submit and register documents through the internet from any location, and the special arrangement is therefore not permitted for such transactions. The latest changes form part of Tamil Nadu’s broader efforts to digitise property registration services and reduce the need for physical visits to registration offices. The revised procedures are expected to streamline eligible property transactions while making online registration more convenient for citizens.

Chennai’s construction and architecture sector is witnessing a series of major developments, with proposed planning reforms and large-scale residential, logistics and infrastructure projects expected to influence the city’s urban growth. A proposed Single Window Portal for architects, engineers, town planners and other registered professionals is being prepared to streamline building-plan and planning-permission processes. The system is expected to provide a statewide registration ID and enable online registration and renewal of professional credentials. Existing registrations are also expected to be migrated to the proposed platform. Once implemented, planning applications would be submitted through registered professionals, with the registration process following the applicable development and building rules. The proposed system is also expected to facilitate third-party planning permission for certain smaller buildings, including residential structures with up to 8,070 sq ft of FSI area, commercial buildings up to 3,230 sq ft and factories up to 26,900 sq ft in approved industrial estates. Meanwhile, an Assembly-cum-Secretariat complex has received in-principle approval, with the project estimated to cost around Rs 1,200 crore. The next stages are expected to include architectural consultancy, preparation of preliminary designs, detailed planning and project cost estimation. The logistics sector is also witnessing fresh development, with a proposed Rs 400-crore logistics park at Red Hills spread across around 52 acres. The project is expected to provide approximately 1.2 million sq ft of warehousing space and strengthen Chennai’s logistics infrastructure. Residential development is continuing across North Chennai, with new apartment projects adding to the region’s housing supply. At the same time, a proposed Rs 947-crore infrastructure programme is expected to support improvements in roads, parks, flood management and other civic facilities. However, construction in environmentally sensitive areas remains subject to careful planning and regulatory scrutiny. Areas with wetland and flood-management importance require developers to consider environmental regulations, drainage requirements and climate-resilient construction practices. The combination of new projects, infrastructure investment and digital planning reforms is expected to make regulatory compliance, professional registration and sustainable development increasingly important for Chennai’s construction sector.

A housing finance lender based in Rajasthan has come under regulatory scrutiny after an investigation reportedly identified suspected fictitious loan accounts worth around Rs 300–400 crore. According to people familiar with the matter, the suspected accounts could represent nearly one-third of the lender’s reported loan portfolio. The lender had reported assets under management of around Rs 1,076 crore as of June, representing a year-on-year increase of about 35%. The investigation reportedly identified loans recorded as disbursed where the underlying borrowers could not be verified. In several cases, corresponding assets were also reportedly not found. The inquiry is also said to have identified alleged instances of loan evergreening and manipulation of non-performing asset (NPA) records. Sources further alleged that funds shown as disbursed against certain accounts were subsequently routed to entities linked to the promoters. The regulatory authority reportedly classified the exposure as a Red Flagged Account (RFA) and reported the status through the relevant credit-information system. However, an RFA classification does not by itself establish that fraud has occurred. It indicates that warning signals have triggered further investigation under the regulatory framework. The development comes amid increased regulatory attention on smaller housing finance companies following earlier cases involving alleged accounting irregularities, questionable loan disbursements and NPA-related concerns. In one earlier case, a housing finance company's board was superseded by the central bank in January 2025 over governance concerns and defaults on payment obligations. The regulator subsequently initiated steps toward insolvency proceedings. Meanwhile, the lender facing the latest allegations has reportedly denied the claims. In a regulatory filing, the company said it had not received communication regarding red flags on any loan accounts and described the reports as distorted and misleading. It also denied creating fictitious accounts or diverting funds, while acknowledging that a regulatory inspection was underway. The matter remains subject to regulatory examination, and the allegations should not be treated as established findings unless confirmed through the relevant investigation or regulatory process.

The Madras High Court has clarified that the Tamil Nadu Real Estate Regulatory Authority (TNRERA) cannot decide disputed questions relating to the title or ownership of a property. The court observed that merely granting registration to a real estate project by TNRERA would not affect the rights of a person who is already pursuing a title dispute before a civil court. Justice D Bharatha Chakravarthy made the observation while dealing with a petition challenging TNRERA registration granted for a real estate project involving land in Tambaram.n  The petitioner had contended that a civil suit concerning the title of the property was already pending. It was also alleged that the project promoter had obtained TNRERA registration despite the ongoing dispute. The High Court observed that when there are disputed questions of title, TNRERA cannot adjudicate and decide the ownership issue. Such matters have to be taken before the competent civil court by the affected parties. The court further noted that TNRERA has a role in examining title-related documents during project registration. However, its registration of a project does not amount to a final determination of ownership of the underlying property. In the case before the court, the project had already been registered and construction had progressed substantially. Considering these circumstances, the court declined to interfere with the registration and disposed of the petition. The ruling highlights that RERA project registration and determination of property ownership are separate legal matters, and a person pursuing a title dispute before a civil court does not lose that right merely because the property development has received TNRERA registration.

The Madras High Court has clarified that registration of a real estate project with the Tamil Nadu Real Estate Regulatory Authority (TNRERA) does not affect the rights of a person pursuing a civil case over the title of the property. The court said that TNRERA cannot decide disputed questions of property ownership. When a title dispute exists, the concerned parties must approach the competent civil court for a decision. The observation came while the court was hearing a petition challenging the registration of a real estate project involving land in Tambaram. The petitioner argued that a civil suit concerning the title of the land was already pending when the project was registered with TNRERA. The petition also raised concerns regarding the disclosure of pending disputes and encumbrances under Section 4 of the Real Estate (Regulation and Development) Act, 2016. However, the court declined to cancel the project registration. It noted that the project had already been registered and construction had reached an advanced stage. The court clarified that TNRERA registration should not be treated as a determination of ownership or title. Any disputed claim over the property must be decided through the appropriate civil court proceedings. The ruling highlights the distinction between real-estate project regulation and property-title disputes, with title-related questions remaining within the jurisdiction of competent civil courts.

The Tamil Nadu government has announced a series of reforms in the Registration Department to make property and document registration faster, more accessible and technology-driven. Under the new measures, 25 Model Registration Hubs will be established with modern infrastructure to reduce queues and congestion. The first phase will cover key areas in Chennai, Chengalpattu and Coimbatore. Around 25 high-volume registration offices will receive additional staff, computers and advanced scanners, allowing registered documents to be scanned and returned immediately. The department will also rationalise registration office boundaries to improve workload distribution. Registration software will be upgraded to enhance speed, capacity and security. From September 15, eligible loan-related document registrations will be brought under presenceless registration, reducing the need for physical visits. Meanwhile, compulsory Saturday duty at 100 sub-registrar offices will be discontinued. The offices will function on weekdays as part of measures aimed at reducing staff workload and improving administrative efficiency.