Property owners in Bangalore Development Authority (BDA) layouts have erupted in anger over what they see as an "irrational" and "abnormal" rise in property taxes ranging from 9% to 51% for 2025-26. This is the steepest increase ever, property owners said as the BDA plans to net about Rs 100 crore from the two layouts that it is still managing. The hike, which the BDA quietly introduced in its property tax portal without prior notice, has triggered strong reactions as many property owners felt the BDA's conviction does not go beyond extracting taxes. The authorities look the other way when it comes to delivering any commensurate services, they alleged. The ground realities at NPKL are in sharp contrast to what the senior BDA officials claim in the media. They are either ignorant about the incomplete work or are trying to hide the facts," said Shankar, a 56-year-old plot owner at Block 3 of NPKL. "Many people are prepared to build houses if the authorities focus on beefing up infrastructure rather than on adding to taxes." The BDA tax hike is the latest in a series of price increases the govt has announced including on milk, petrol, bus and Metro fares, electricity tariff, stamp duty on non-registrable documents, and guidance value of properties.
 

The state has issued detailed guidelines to identify beneficiaries and construct houses for those currently living in huts under the Kalaignarin Kanavu Illam scheme. The govt has allotted 3,500 crore to build one lakh houses. As per the guidelines issued by the rural development and panchayat raj department, only households with patta, ownership documents, and legal inheritance will be eligible for the scheme. A recent survey identified around eight lakh huts in the state. All houses on objectionable poramboke land, huts occupied by tenants, huts used for commercial purposes, huts with RCC, metal sheet roofs, and occupants who own a house elsewhere will not be eligible for the scheme. An official said each house will have a minimum plinth area of 300sqft and will have a living room, kitchen, bedroom, toilet, and tiled roof, with water and power connections. "In grouped areas, the govt will also provide infrastructure such as roads, street lights, drinking water facilities, and public toilets. The walls will be rose blush in colour, camouflage brown in the middle, and armour-coloured joineries. An assistance of 12,000 will be provided under the Swachh Bharat  Mission to every household to construct toilets in the case of individual habitations. The scheme was originally launched as the Kalaignar Veedu Vazhangum Thittam in 2010. The govt is also facilitating the PM-Janman scheme to construct houses for nomads and scheduled tribes. The goal is to ensure that there are no encroachments, and everybody gets a hygienic habitat."
 

Brookfield India Real Estate Trust on Tuesday reported a 16 per cent increase in net operating income to Rs 488.5 crore and announced a distribution of Rs 319 crore to unitholders for the latest quarter ended March Its Net Operating Income (NOI) stood at Rs 422 crore in the year-ago period. The company announced the distribution of Rs 319.1 crore (Rs. 5.25 per unit) to its unitholders for the March quarter, 10.5 per cent higher than the fourth quarter of the 2023-24 fiscal, according to a regulatory filing. During the full 2024-25 fiscal, the NOI grew by 37 per cent to Rs 1,854 crore from Rs 1,350 crore in the preceding year. The company declared total distributions of Rs 1,053.7 crore (Rs 19.25 per unit) in the last fiscal, an increase of 8.5 per cent than 2023-24 financial year. Brookfield India Real Estate Trust achieved gross leasing of around 3 million square feet, including 2.2 million square feet of new leasing and 0.8 million square feet of renewals. More than 50 per cent of the leasing was in SEZ properties, indicating steady demand recovery, the company. Brookfield India REIT is managing 10 Grade A assets located in Delhi, Mumbai, Gurugram, Noida, and Kolkata. The Brookfield India REIT portfolio consists of 29 million square feet of total leasable area, comprising 24.5 million square feet of operating area, 0.6 million square feet of under-construction area, and 3.9 million square feet of future development potential.
 

The residential real estate market in the city and its neighbourhood has commenced 2025 on a positive note with a strong recovery and increasing buyer confidence, a report by the industry body CREDAI said. Sharp growth in registrations, steady sales of the residential units and a resilient housing market has emerged in the January-March 2025 period, the study prepared by the Confederation of Real Estate Developers' Associations of India (CREDAI), Chennai said on Sunday. Projects nearing completion or ready-to-occupy continued to be the preferred choice among buyers. The recent reduction in the repo rate by the Reserve Bank of India and the Central government's revised income tax slabs has further supported buyer sentiment, particularly among first time buyers. Sales of residential units grew 7 per cent quarter on quarter to 3,783 units during the three month period while it was 27 per cent growth year-on-year. Southern suburbs accounted for the majority of the project registrations with the demand being driven by the improved infrastructure, Metro Phase II project, among others. CREDAI Chennai President A Mohamed Ali said, "the Government's focus on inclusive urban development through schemes and new infrastructure investments in suburban corridors is enhancing liveability and making homeownership more accessible to a wider section of the population." We expect this momentum to carry through into the next quarter as well, especially with infrastructure-led locations attracting renewed  investor and end-user interest" commented CREDAI Chennai Secretary Aslam Packeer Mohamed.
 

The city’s residential property market saw a sharp reacovery in the first quarter of 2025, with unit registrations rising 88% quarter-on-quarter to 8,042, according to data released by Confederation of Real Estate Developers  Associations of India (CREDAI) Chennai. The figure also represented an 11% year-on-year increase, signalling sustained momentum in buyer activity. The members of CREDAI were responsible for 92% of total registrations in the quarter. The group registered 7,412 units in Q1, up 17% from a year earlier, according to the data. Sales volumes also improved, increasing by 7% from the previous quarter and 27% compared to Q1 2024, reaching 3,783 units. Buyer preference continued to tilt towards ready-to-occupy or near-completion properties.  Analysts attribute the buoyancy in part to recent monetary and fiscal measures, including a reduction in the Reserve Bank of India’s policy rate and revisions to income tax slabs that have boosted affordability, particularly for first-time buyers. The number of new residential projects registered in Chennai stood at 61, down from 78 in the same period last year. Unsold inventory in completed projects remained stable at 7,872 units, suggesting a relatively balanced supply-demand dynamic.

Akshaya Tritiya proved to be a golden opportunity not just for jewellers but also for Tamil Nadu's real estate sector. On Wednesday, the state registration department recorded a historic high with registration of 27,440 property documents in a single day and generating a record-breaking revenue of Rs 272.87 crore. According to commercial taxes and registration minister P Moorthy, the occasion marked the most lucrative single day in the department's history, surpassing the previous record set on Feb 10, 2025, when 23,421 documents were registered, yielding 237.98 crore. Traditionally celebrated as an auspicious day for buying gold and launching new ventures, Akshaya Tritiya has increasingly become a preferred occasion for property investments. In anticipation of the heightened demand, the department implemented several proactive measures. Based on public feedback, it expanded pre-booking slots across registration offices. Offices with one sub-registrar increased capacity from 100 to 150 slots, while those with two sub-registrars increased slots from 200 to 300. At 100 high-volume offices, regular booking slots were raised from 100 to 150. The number of immediate booking slots was also increased from 12 to 16 to facilitate smoother public access. These steps helped streamline operations and ensured that the surge in footfall on the auspicious day did not disrupt the registration process. Chennai topped the list in the state and South Chennai witnessed more registrations within the city, said an official from the registration department. A Mohammed Ali, president of CREDAI Chennai, said market sentiment remains strong. "Many home buyers prefer registering property on Akshaya Tritiya, and we've seen a rise in enquiries for home purchases on this date. 
 

To curb air pollution caused by construction activities, the Greater Chennai Corporation (GCC) has unveiled a SOP mandating the builders to install dust barries, cover waste sparys to control dust. Warning violators of penalty, a resolution adopted at the GCC's council meeting on Wednesday said failure to comply with these regulations would result in fines ranging from 10,000 to 5 lakh, depending on the site's size and severity of violations. At least 6,150 metric tonnes of solid waste is generated daily in the city. Additionally, about 800 metric tonnes of construction and demolition (C&D) waste are generated every day. Construction companies are often involved in handling the C&D waste improperly, including transporting it without following proper procedures. As per the resolution, at project sites up to one acre in size, 6-metre-high metal or sheet barricades must be installed around the site to prevent the spread of dust and debris in open areas. For project sites with an area of more than one acre or buildings taller than 70 metres, and all RMC plants, metal barriers with a height of 10 metres should be installed around the site to prevent dust and waste from spreading in outdoor areas. With the GCC issuing guidelines for building construction and disposal for C&D waste, the public urged it to enforce penalties to ensure guidelines are not violated.
 

PNB Housing Finance has reported a growth of 25.30 per cent in its net consolidated profit during the quarter ended March 31, 2025. Its profit after tax stood at ?550.38 crore in Q4 FY25 as against ?439.25 crore it recorded in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at ?2,036.78 crore in Q4 FY25, a growth of 12.28 per cent from ?1,813.97 crore it recorded in the similar quarter last year. Girish Kousgi, managing director & CEO of the company said, "The retail loan asset grew by 18.2% year-on-year to ?74,802 crore as on March 31, 2025, which was supported by growth in the affordable and emerging markets segment. The affordable segment loan asset crossed a significant milestone of ?5,000 crore during the year. With focus on significant milestone of ?5,000 crore during the year. With focus on collections across buckets, the Gross NPA improved to 1.08% as on March 31, 2025 as compared to 1.50% as on March 31, 2024. On the back of strong business and financial performance, the RoA increased by 35 bps 2.55% for FY25." Loan asset grew by 16% year-on-year to ?75,765 crore as on March 31, 2025 while assets under management (AUM) grew by 13% year-on-year to ?80,397 crore as on March 31, 2025. The company recovered ?336 crore in FY25 from the written-off pool. Capital Risk Adequacy Ratio (CRAR) stood at 29.38% as on March 31, 2025. Yield was at 10.03% in Q4 FY25 as compared to 10.08% in Q4 FY24 while cost of borrowing was at 7.84% in Q4 FY25 as compared to 7.98% in Q4 FY24. Spread on loans was at 2.19% in Q4 FY25 as compared to 2.10% in Q4 FY24. 
 

The new strict guidelines of Reserve Bank of India (RBI) for gold loans have led private and nationalised banks, co-operative banks and Non-Banking Financial Companies (NBFCs) to adopt various strategies to comply with the norms, which restrict the closure of gold loans within 12 months.Under the new norms, the instalments has been reduced from 36 months to 12 months. Although the maximum tenure for gold loans with monthly instalments has been reduced from 36 months to 12 months. Although the new norms are giving a hard time, particularly to economically vulnerable borrowers, the banks have begun leveraging loopholes in the system to comply with the RBI regulations while maintaining profitability and customer satisfaction. When TNIE visited branches of private and nationalised banks in Chennai, the branch staff explained that they employ many strategies, including monthly auto-debit of interest from savings accounts, technical closures – wherein loans are temporarily repaid and immediately renewed with fresh documentation, closure of loans and re-pledging under a family member’s name by simply paying the interest, automatic settlement of dues by debiting from savings account, and expediting the auction process to minimise defaults after the 12-month loan tenure ends. A branch manager of a nationalised bank in Chennai explained, “Most customers who took gold loans last year believed they could renew them by paying only the interest. Some customers are now unable to fully repay their loans or are forced to borrow from moneylenders. In such cases, we advise them to bring a family member, open a basic savings account in their name, and then pledge the same jewellery under the relative’s name. The loan amount is used to settle the original borrower’s dues on the same day.” However, an official spokesperson for IOB said the actions were taken in line with RBI norms and in the best interest of customers. “In certain cases, where repayments are pending and sufficient funds are available, the bank may recover dues from the linked account to help customers avoid the impact of overdue payments on their credit profile,” 

Mortgage firm LIC Housing Finance on Friday said it has slashed its benchmark lending rate by 25 basis points following the recent policy rate cut by the Reserve Bank of India. This reduction in LIC Housing Prime Lending Rate (LHPLR), will benefit both existing and new borrowers by making home loans more affordable, the LIC subsidiary said in a statement. The revised interest rates will now start from 8 per cent and will come into effect from April 28, it said. The LHPLR serves as the benchmark rate for determining the interest rates on all types of loans, it said. ?This reduction in LIC Housing Prime Lending Rate (LHPLR), will benefit both existing and new borrows by making home loan more affordable the LIC subsidairy. 
 

The NHAI has told the National Green Tribunal (NGT) that it was compelled to use a portion of a pond in Mamallapuram for constructing an exit ramp as part of its East Coast Road four-laning project from Mamallapuram to Puducherry. The submission came in response to a petition alleging that the construction encroached upon the waterbody without proper justification. National Highways Authority of India (NHAI) project director M S Chaitya stated that 3460 sqm less than 20% of the 15000 sqm pond were used all along the edge in shallow sections. This area was essential to provide access for vehicles entering Mamallapuram from the Puducherry side via a proposed underpass near the heritage elephant sculpture. According to the submission, the current junction is accident-prone, and the absence of a proper exit ramp could turn it into a blackspot on the high speed corridor. The national agency finalised the alignment in 2018, awarded the contract in March 2020, began work in May 2023, received an objection in August 2024 replied in two weeks, and noted the NGT case was filed only in January 2025. NHAI cited a report from its independent engineer, LN Malviya Infra Projects which confirmed that around 10800 cubic metres of earthwork was undertaken within the pond area, using earth that is non - polluting. It clarified that the embankment would not impact water quality and that pond water impact water quality and that pond water. Tamil Nadu water resources department for the alignment and argued that alternative alignments were geometrically unfeasible due to proximity of major bridge across Buckingham Canal, located just a kilometre Shifting the exit ramp further the case will be heard again in June.
 

India's Bajaj Housing Finance reported a rise in fourth-quarter profit on Wednesday, supported by strong credit growth as robust demand for premium homes and rising property prices continue to power the country's real estate market. The country's biggest home loan financier by market value reported a 54% jump in profit to 5.87 billion rupees ($68.8 million) for the three months ending March 31. Demand for homes in India, particularly in the premium segment that makes up a large part of Bajaj Housing Finance's portfolio, has remained strong over recent quarters. Residential real estate prices are set to rise steadily over the next few years, driven by demand for luxury properties from cash-rich individuals, according to a Reuters poll of housing experts. Bajaj Housing's loan assets rose 25% year-on-year to 995.13 billion rupees, while its assets under management climbed 26% to 1.15 trillion rupees. 
Net interest income, the difference between interest earned and paid, rose 31% to 8.23 billion rupees. Asset quality worsened slightly, with gross bad loans as a percentage of total loans rising to 0.29% at the end of March, from 0.27% in the same period a year ago. The company's shares ended 0.6% higher ahead of the results. They are 12% down since listing in September.