Anti-corruption NGO Arappor Iyakkam has accused several Tamil Nadu government departments of illegally granting approvals for a ?2,000-crore housing project allegedly planned within the ecologically sensitive Pallikaranai Ramsar wetland in Perumbakkam, Chennai. In a complaint submitted to the Chief Minister, Chief Secretary, and the Directorate of Vigilance and Anti-Corruption (DVAC), the NGO alleged that the State Environment Impact Assessment Authority (SEIAA) and the Chennai Metropolitan Development Authority (CMDA) had issued environmental clearance and construction approval for survey numbers 453, 495/2C, 496, 497, and 498 — all of which, according to Arappor, fall within the marshland area. The organisation said it has attached a 213-page annexure of evidence to support its claims. Citing official maps of the Ramsar site and the CMDA’s influence zone, Arappor said the above survey numbers cover 14.7 acres within the Ramsar boundaries, notified in April 2022. Despite this, Brigade Enterprises, the developer behind the project titled “Brigade Morgan Heights,” applied to SEIAA for environmental clearance on August 9, 2023, and to CMDA for construction plan approval on February 15, 2024, proposing 1,250 dwelling units. Arappor accused the builder of “falsely claiming” that the project site was 1.2 km away from the Pallikaranai marsh, whereas in reality, it is adjacent to survey number 534/4, which is recorded as part of the marsh in government revenue records. While SEIAA granted permission for an Environmental Impact Assessment (EIA) and sought further details — including the project’s exact boundary coordinates in relation to the marshland — the builder reportedly asked forest officials for clarification. Following an inspection, the Forest Department stated that the site was 65 metres from the marshland, with a “revenue land parcel” in between. However, Arappor noted that the survey number of this intervening parcel was not disclosed, calling it a sign of possible irregularities. The NGO further cited historical land records, stating that in the 1911 Perumbakkam resettlement register, the last survey number was 445. Survey number 430, corresponding to the marsh, was later subdivided to create new numbers up to 546, facilitating conversion of marshland into revenue plots. The total area under survey number 430, once 643.9 acres in 1911, had shrunk to just 6.1 acres by 1993. Today, only 50 acres under survey number 534/4 are officially marked as marshland. According to the Wetlands (Conservation and Management) Rules, 2017, wetlands cannot be converted for non-wetland use, and permanent construction is strictly prohibited. Arappor Iyakkam convenor Jayaram Venkatesan said the Ramsar Convention designates 3,081 acres of the Pallikaranai marsh as protected wetland. “This is a clear case of collusion,” he said. Repeated attempts to contact Environment Secretary Supriya Sahu and CMDA Member Secretary G. Prakash for comment were unsuccessful. A Brigade Enterprises spokesperson said, “Brigade Morgan Heights is a joint development project with the landowner. The land is privately held.”

Salaries across India are expected to grow by 9% in 2026, with the real estate and non-banking financial companies (NBFC) sectors driving much of this growth, according to a new report by Aon, a global professional services firm. The real estate and infrastructure sector is projected to record one of the strongest pay hikes—10.9% in 2026, up from 10.5% in 2025. This continued momentum is supported by government-led capital investments, rising real estate activity in both commercial and residential markets, and greater institutional participation. According to Roopank Chaudhary, Partner and Rewards Consulting Leader at Aon, policy reforms and infrastructure spending have significantly improved hiring sentiment. He added that real estate and NBFCs are leading in talent investments, as organizations adjust pay strategies to maintain growth and workforce stability. Among financial institutions, NBFCs are expected to see the largest average salary increase at 10%, followed by asset management firms (9.5%) and banks (8.6%). Other industries such as retail (9.6%), life sciences (9.6%), and engineering design services (9.7%) are also forecast to experience robust pay growth. In contrast, technology consulting and services remain conservative, with projected salary hikes of only 6.8%, as companies emphasize efficiency and cost control amid global challenges. India’s employee attrition rate has dropped to 17.1% in 2025, the lowest in five years, compared to 17.7% in 2024 and 18.7% in 2023. However, involuntary exits have risen slightly to 4.6%, reflecting a focus on performance-based restructuring and workforce optimization. Organizations are increasingly shifting from “just-in-time” to “just-in-case” workforce planning to improve resilience against supply chain and trade disruptions. The integration of AI and automation is further reshaping roles and helping reduce long-term labor costs. Aon expects organized sectors—especially real estate and financial services—to continue outperforming the broader market in terms of salary growth. With better retention, stable inflation, and targeted rewards, employers appear to be moving from aggressive hiring to strategic workforce consolidation, ensuring sustained productivity and profitability in FY26 and beyond.

Can Fin Homes (CFHL) has reported an 18.89% year-on-year increase in its consolidated net profit for the quarter ended September 30, 2025. The company posted a profit after tax (PAT) of ?251.42 crore in Q2 FY26, compared to ?211.48 crore in the same quarter last year, according to a filing with the BSE. Total consolidated income for the quarter rose by 9.01% to ?1,049.45 crore, up from ?962.69 crore in Q2 FY25. As of September 2025, CFHL's total loan portfolio stood at ?39,657 crore, marking an 8% growth from ?36,591 crore in the same period last year. Housing loans accounted for 74% of the loan book, while the remaining 26% comprised non-housing loans, including commercial real estate (CRE) loans. For the half year ended September 30, 2025, loan disbursements reached ?4,560 crore, registering a 7% increase over ?4,233 crore disbursed in the corresponding period of the previous fiscal. CFHL has maintained total provisions of ?495 crore, which includes ?59 crore set aside as a management overlay and ?40 crore earmarked for restructured accounts. The company’s liquidity coverage ratio (LCR) stood at a strong 217.24%, well above the regulatory minimum of 85%. Meanwhile, its deposit portfolio stood at ?202 crore.

Here’s a rephrased version of the text that conveys the same meaning:The Madras High Court has clarified that Sub-registrars have the authority to reject the registration of a plot as a house site unless it has received approval from the planning authorities, as required under the Registration Act. A division bench consisting of Justice S M Subramaniam and Justice Mohammed Shaffiq made this ruling while allowing an appeal filed by the Sub-Registrar of Salem West, who had challenged a single judge's decision from July 1, 2024. The single judge's order had set aside the Sub-Registrar’s refusal to register the plot. The issue arose when D Rajamanickam filed a petition against the Sub-Registrar's decision to reject the registration of a settlement deed for a 3,508-square-foot plot in 2021. The rejection was based on the lack of approval for the plot to be used as a house site, as stipulated under Section 22A of the Registration Act. In response, the single judge ruled in favor of Rajamanickam, directing that the plot be registered as a house site, given that surrounding plots had been registered in the same manner. Dissatisfied with the ruling, the Sub-Registrar appealed. In its decision, the bench referenced Section 22A(2) of the Registration Act, emphasizing that the registering authority has the discretion to deny registration of any instrument transferring land ownership if the land is designated as a house site without the proper clearance from the planning authority. The bench noted that the settlement deed presented for registration did not include approval from the planning authority for the plot in question. According to the law, if a plot has not previously been registered as a house site, it cannot be registered as one without the appropriate approval. However, if it has been previously registered as a house site, it may be re-registered accordingly.

The Tamil Nadu government has amended the Tamil Nadu Combined Development and Building Rules, 2019, easing the parking space requirements for large new homes. According to the amendment issued on October 10, homes built on plots measuring 3,200 sq ft (or 300 sq m) and above must now provide parking space for at least four cars and four two-wheelers. This updated rule applies to residential buildings in corporations, municipalities, and town panchayats. For smaller plots, the earlier rule remains unchanged—homeowners must still allocate space for two cars and two two-wheelers. S. Ramprabhu from the Builders Association of India said the change effectively increases the usable Floor Space Index (FSI)—which means builders now have more flexibility in how they use the total buildable area. FSI defines how much floor area can be constructed on a plot relative to its size. Previously, parking spaces, staircases, and other service areas were excluded from the buildable limit. Under the 2019 rules, one car parking space was needed for every 75 sq m of built-up area. So, a 5,000 sq ft house needed five car parking spaces, which often reduced the usable living area. With the relaxed rule, builders can now reclaim some of that space for additional rooms or other living features. However, some urban planners have raised concerns. R. Naveen, a city planner, warned that the reduced parking requirements could lead to more vehicles being parked on the streets, worsening traffic and reducing public space. Many residents already park extra or unused vehicles on the roads, and this change could increase that problem.

Government Eases Rules by Classifying Limestone Fully as a Major Mineral. On Tuesday, the government announced that limestone will now be fully classified as a major mineral, removing earlier distinctions based on how it was used. This change is expected to improve ease of doing business by allowing leaseholders to mine, sell, or use limestone freely, without being limited by its end use. Previously, limestone was treated as both a minor and major mineral—its classification depended on how it was used. If used to make lime for building materials in kilns, it was a minor mineral. But if used for making cement, fertilizers, chemicals, sugar, or steel, it was considered a major mineral. To ensure a smooth transition, the Ministry of Mines issued an order on October 13, 2025, stating that all current minor mineral leases for limestone will now be treated as major mineral leases, without any disruption. This decision came after recommendations from an inter-ministerial committee led by a NITI Aayog member, which consulted with industry stakeholders. The change addresses the declining availability of limestone for lime-making, since most limestone is now used by industries like cement and chemicals. By removing limestone from the minor minerals list, the government has met a long-standing demand from leaseholders, who can now freely sell limestone to cement and other industries. The move is expected to boost construction activity, create jobs, and support economic growth.

The borrowing costs for housing finance companies (HFCs) are set to decrease as the National Housing Bank (NHB) has agreed to offer partial credit enhancement (PCE) for bonds issued by these lenders. This initiative is designed to help HFCs reduce their funding costs, which in turn will allow them to pass on the savings to borrowers, especially in the affordable housing sector. On October 6, NHB informed housing finance companies that it will extend PCE to secured non-convertible debentures (NCDs) issued by these companies. The objective is also to help HFCs diversify their funding sources and reduce their over-reliance on banks. The facility will be available to non-deposit-taking HFCs with an asset base of at least ?1,000 crore, provided they have a credit rating of 'A+' from two rating agencies. Furthermore, these companies must maintain gross and net non-performing assets below 2.5% and 1.5%, respectively, to qualify. To attract investors at competitive rates, the bonds issued by HFCs must carry sufficiently high credit ratings. Many HFCs are unable to issue bonds due to lower ratings from credit agencies, often due to a mismatch between their assets and liabilities. A basis point refers to one-hundredth of a percentage point. The PCE will cover up to 50% of the bond issue size, with a minimum issue size of ?50 crore. The bonds will have a tenure of 3 to 5 years, and the proceeds must only be used to refinance existing debt. HFCs are required to submit a certificate from a statutory auditor within seven days of receiving the funds. The PCE, which will be provided as an irrevocable contingent line of credit, is expected to improve the external credit ratings of the bonds, allowing HFCs to raise funds at more favorable rates.

The State Industries Promotion Corporation of Tamil Nadu (SIPCOT) has floated a ?89.9-crore tender for the development of essential infrastructure — including roads, stormwater drains, culverts, water supply, and sanitation — as part of the Knowledge City project planned in Tiruvallur. Announced in the 2022–23 state budget, the project is being developed in phases. Recently, the Tamil Nadu Industrial Development Corporation (TIDCO) invited consultancy bids for the first phase, which includes constructing a Knowledge Tower on 12.65 acres. This facility will house R&D labs, tech firms, and research institutions. SIPCOT Managing Director K. Senthil Raj stated that the current tender focuses on infrastructure development in the Sengathakulam area of Tiruvallur district, a key part of the upcoming Knowledge City. The tender submission deadline is October 30. In addition to core infrastructure, the plan includes building bus shelters, parks, and other modern amenities. Construction will begin once the contractor is selected, with visible development expected within seven to eight months. Meanwhile, TIDCO is finalizing documents for a public-private partnership (PPP) model and is in discussions with several universities. During a recent visit to Germany, Chief Minister M. K. Stalin signed an MoU with RWTH Aachen University. The government believes that attracting international institutions to Tamil Nadu will help reduce the outflow of Indian students seeking higher education abroad. While the initiative is commendable, greater emphasis on bringing in top Indian universities could enhance domestic education standards and contribute more significantly to the country's academic ecosystem.

Here's a reworded (paraphrased) version of your text, maintaining the original meaning while using different phrasing. It’s written in a clear, informative style suitable for reports, news articles, or presentations: When metro train services begin along the OMR stretch, the stations will also function as compact commercial hubs, featuring eateries, clothing stores, and other retail outlets designed to serve both commuters and local residents. Chennai Metro Rail Limited (CMRL) has awarded a contract for the design and civil construction of entry and exit points that will include commercial facilities at nine elevated stations on the 45.8 km-long Corridor 3 — which links Madhavaram to the SIPCOT IT Park in Siruseri. The project, valued at ?250.47 crore, has been awarded to Bridge and Roof Company (India) Ltd. The firm will construct up to three floors of commercial space at the stations in Nehru Nagar, Kandanchavadi, Perungudi, Thoraipakkam, Mettukuppam, PTC Colony, Okkiyampet, Karapakkam, and Okkiyam Thoraipakkam. "Initially, the station designs were kept simple, but they have now been adapted for transit-oriented development to improve commuter convenience and generate additional revenue for CMRL," said an official. The commercial areas will be leased out to vendors and businesses, the official added. Unlike the larger commercial complexes planned at other stations — such as Mandaveli on Corridor 3 and Thirumangalam on Corridor 5 — the facilities on OMR will be more compact. At Mandaveli, for example, the station’s entry and exit points will be located within the existing bus terminus, which will include two multi-storey (stilt + seven floors) structures. Meanwhile, in Sholinganallur, an eight-storey building is planned at the junction where Corridors 3 and 5 intersect. Corridor 3, part of Chennai Metro’s Phase 2, is set to include 28 underground and 19 elevated stations, with construction currently underway at various stages across the route. The entire corridor is expected to be completed by next year.

Housing Finance Companies (HFCs) are likely to benefit from lower borrowing costs after the National Housing Bank (NHB) agreed to provide Partial Credit Enhancement (PCE) for bonds they issue. The move aims to help HFCs secure funding at better rates and pass on the benefits to borrowers, especially in the affordable housing sector. In a letter dated October 6, NHB informed HFCs it would offer PCE on secured non-convertible debentures (NCDs), with the goal of helping these firms diversify their funding sources and reduce over-dependence on banks. This facility will be available only to non-deposit taking HFCs with assets of at least ?1,000 crore. Eligible companies must also have a minimum 'A+' credit rating from two rating agencies, and keep gross NPAs below 2.5% and net NPAs below 1.5%. To make bonds attractive to investors, NHB stressed the importance of high credit ratings. Many HFCs struggle to issue bonds due to lower ratings caused by factors such as asset-liability mismatches.

NHB will charge an annual PCE fee based on the bond's credit rating before enhancement:

• 25 bps for AA+,

• 50 bps for AA/AA-,

• 100 bps for A+.
  An additional 2% fee will apply if the issuer defaults or is downgraded.

The enhancement will cover up to 50% of the bond issue, with a minimum size of ?50 crore. The bonds must have a tenure of 3 to 5 years, and the proceeds can only be used to refinance existing debt. HFCs must also submit a certificate from their statutory auditor within seven days of receiving funds. The PCE will be provided as an irrevocable contingent line of credit, which is expected to boost the external credit rating of the bonds and help HFCs raise funds at lower interest rates.

Sammaan Capital is set to sharpen its focus on affordable housing loans after receiving a $1 billion investment from Abu Dhabi’s International Holding Company (IHC), CEO Gagan Banga told Reuters. He noted that affordable housing remains a core growth driver, and the IHC funding will provide “stronger momentum” as the company targets ?1 trillion (around $11.27 billion) in assets under management (AUM) by FY2027. To support this expansion, the non-banking financial company (NBFC) is opening around 10 new branches every month, primarily in tier-4 and tier-5 towns and the outskirts of major cities. Over the next six to nine months, Sammaan aims to add 60–70 new branches nationwide. NBFCs across India have been intensifying their focus on affordable housing, fueled by growing demand, government initiatives promoting low-cost housing, and reduced competition from larger banks. Earlier this month, IHC agreed to acquire a controlling stake in Sammaan Capital, signaling a strong bet on India’s booming housing finance sector. Looking ahead, the company also plans to explore new lending segments, including gold loans and personal loans tailored for low- to middle-income customers. Banga mentioned that future investments could support the rollout of these new products. Formerly known as Indiabulls Housing Finance, the lender was once among India’s top housing finance firms before facing liquidity challenges during the 2018 IL&FS crisis. After rebranding as Sammaan Capital in July 2024, the infusion of IHC’s capital marks a turning point, positioning the company to reclaim its place among India’s top 3–5 NBFCs by FY2030. “With our experienced leadership, wide distribution network, and IHC’s financial and technological backing, we are confident of returning to the top tier of India’s housing finance market,” Banga said.

The Tamil Nadu government has sanctioned ?1.2 crore for developing road and water infrastructure at the upcoming Thiruverumbur SIPCOT Industrial Park, which will be Trichy’s second major industrial estate after the Manapparai SIPCOT. The district administration has earmarked 125 acres near the Trichy Semi-Ring Road for the project. With assistance from Guidance Tamil Nadu, the state’s investment promotion agency, SIPCOT plans to allocate the entire park to a leading electronics manufacturer. The facility will come up in Elandapatti and Suriyur villages, close to the Olympic Training Academy. The land, earlier part of the Union government’s High Energy Projectile Factory (HEPF), has been retrieved and reclassified as government land. Unlike other SIPCOT parks, the state will focus only on developing the main access road linking Thiruverumbur SIPCOT with the Trichy Semi-Ring Road. The Tamil Nadu Water Supply and Drainage Board (TWAD) has been approached to supply 0.5 MLD of water in the first phase, along with drainage systems and streetlights. Due to its proximity to Trichy International Airport (15 km), land rates at Thiruverumbur are expected to be higher than at Manapparai SIPCOT. Additionally, SIPCOT is working on another 170-acre industrial park near Sengipatti, along the Trichy–Thanjavur highway, proposed as a non-leather footwear hub that could create 5,000–10,000 jobs for rural communities across Trichy, Thanjavur, and Pudukottai districts.