CREDAI Tamil Nadu has highlighted that Tamil Nadu’s sustained double-digit economic growth is strengthening confidence across housing, infrastructure, and investment segments. The state recorded real economic growth of 10.83 percent in FY26, following 11.19 percent in FY25, significantly above the national estimate of 7.4 percent. Tamil Nadu’s GSDP rose from Rs 31.19 trillion to Rs 35.29 trillion during the period, with per capita income reaching Rs 408,000. According to CREDAI Tamil Nadu, the continued growth momentum reflects broad-based confidence across industries, investors, homebuyers, and the workforce. The performance marks two consecutive years of double-digit growth, the first such occurrence in over a decade. The development is expected to have a direct impact on the real estate sector, with economic expansion driving job creation, income growth, and urbanization, thereby supporting demand across residential, commercial, warehousing, and infrastructure segments. The state's strong performance in services, including real estate-linked activity, further reinforces the sector’s role in the growth cycle. Continued focus on infrastructure development, industrial expansion, digital governance, and investment facilitation is contributing to a stable and growth-oriented system. With strong fundamentals including a skilled workforce, manufacturing base, and urban development, Tamil Nadu is positioned to sustain growth, supported by ongoing reforms in approvals, infrastructure, and ease of doing business. 
 
 

As part of the government’s measures to curb bribery and reduce red tape, the Greater Chennai Corporation has directed its town planning department to issue planning permissions and building permits within a maximum period of 27 days.

To promote transparency and eliminate unnecessary interactions, officials have been instructed not to summon applicants, architects, or engineers to government offices during the scrutiny process. All procedures related to applications will be handled online, and all payments must be made digitally, ensuring a contactless and accountable system.

The initiative aims to ensure time-bound service delivery, prevent delays, and strengthen transparency in the approval process. By reducing manual intervention, the government seeks to improve public confidence in urban administration.

Under powers delegated by the Chennai Metropolitan Development Authority, the Greater Chennai Corporation issues building approvals for:

• Residential buildings up to two floors
• Commercial buildings up to three floors
• Industrial and institutional buildings with a height of up to 18.3 metres, with no limit on built-up area

The corporation processes an average of 550 to 600 planning permissions and building permits every month, reflecting the scale of development activity in the city.

Once all valid documents are submitted, applications must be approved within three working days. Following approval, applicants must complete fee payments online, after which executive engineers are required to digitally sign the approved plans and permits within 24 hours, enabling applicants to access the documents immediately through the online portal.

Officials have also been directed to strictly follow the “first in, first out” principle while processing applications, ensuring that older applications are cleared before newer ones.

These reforms are expected to significantly streamline the approval process, minimize opportunities for malpractice, and support faster, transparent, and well-regulated urban development in Chennai.

A state-level federation representing resident welfare associations has urged the state government to initiate a comprehensive and transparent audit of all residential and commercial buildings across the state. The federation alleged that widespread property tax evasion, along with irregular and corrupt assessment practices, has resulted in revenue losses amounting to several hundred crores of rupees over the years.

According to the association, weaknesses in the current assessment system have allowed large numbers of property owners to underreport built-up areas, usage categories, and occupancy status, leading to significant under-collection of property tax. The federation claimed that enforcement mechanisms remain inadequate and inspections are either irregular or selectively carried out, allowing violations to go unchecked.

The association called for mandatory and periodic physical inspections of properties owned by elected representatives, local body members, and individuals holding public office, stating that no category of property owner should be exempt from scrutiny. It also demanded stringent action against both property owners found guilty of evasion and revenue officials who failed to conduct fair and accurate assessments.

In addition, the federation urged the government to constitute an independent expert committee to review whether property tax assessments conducted in previous years for both residential and commercial buildings were carried out fairly and in accordance with existing rules and guidelines. The committee, it said, should evaluate systemic lapses, inconsistencies, and possible misuse of discretionary powers by assessment authorities.

The association further recommended that the entire inspection and assessment process be conducted through a fully digital, transparent, and publicly auditable mechanism to eliminate manual interference, reduce corruption, and ensure uniform implementation across urban and rural local bodies.

As part of punitive measures, the federation demanded that property owners found guilty of deliberate tax evasion be required to pay double the applicable tax for the previous ten years. It also called for immediate suspension and disciplinary action against revenue officials who failed to perform their duties responsibly or were found complicit in irregular assessments.

Missing a home loan EMI may initially appear to be a temporary financial setback, but if the non-payment continues for a prolonged period, it can set off a clearly defined legal and recovery process that may ultimately result in the loss of the property. When an EMI is missed during the first 1 to 90 days, lenders usually begin with reminder calls, messages, and emails while applying late payment charges and penal interest. During this phase, the loan account is still treated as a regular account, and borrowers are encouraged to clear the dues or explore restructuring options to avoid further complications.

If the EMIs remain unpaid for 90 consecutive days, the loan is officially classified as a Non-Performing Asset under banking prudential norms. In the case of certain credit facilities such as overdraft accounts, this classification occurs after 180 days of continuous non-payment. Once the account becomes an NPA, the lender treats it as high-risk and formally initiates recovery proceedings.

Following NPA classification, the default is reported to credit information agencies, leading to a sharp decline in the borrower’s credit score. This damaged credit profile can significantly affect the borrower’s ability to access future financial products, including home loans, personal loans, vehicle loans, and credit cards. In some cases, it may also impact rental agreements or employment background checks, creating long-term financial and reputational challenges.

After the account is declared an NPA, the lender issues a formal legal notice demanding repayment of the outstanding dues within a specified period, usually 60 days. This notice outlines the total amount due, including interest and penalties, and clearly warns that further legal action will follow if the borrower fails to repay within the stipulated time.

If the borrower does not clear the dues within the notice period, the lender is legally entitled to enforce its security by taking possession of the mortgaged property. This possession may be symbolic, through official notices, or physical, depending on the situation. Even at this stage, the borrower may still have a final opportunity to settle the dues before the process advances further.

When repayment is still not made, the lender proceeds with the auction of the property to recover the outstanding loan amount. Public notices are issued, and the property is sold to cover the principal, interest, penalties, and legal costs. If the auction proceeds fully cover the loan, the matter is closed. If the amount falls short, the borrower may still be required to pay the remaining balance, while any surplus amount is returned to the borrower.

Even after the auction process is completed, the borrower may face long-term consequences. Credit score damage can persist for several years, legal records may continue to affect financial credibility, and re-entry into the formal credit system can become difficult and costly.

Officials have been instructed to carry out property deed registrations in a transparent manner and strictly without any irregularities, the state’s commercial tax and registration department said on Thursday. Directions have been issued to ensure that no official working in registrar offices accepts bribes, and it has been made clear that anyone found involved in malpractice will face strict disciplinary action.

Speaking to reporters during a visit to Rasipuram, the minister stated that firm steps are being taken to ensure honesty and accountability in registration offices across the state. The government, he said, is committed to maintaining a clean and people-oriented administration, with a focus on eliminating corruption at all levels.

The minister further said that the state government would urge the central government to reduce the Goods and Services Tax (GST) to ease the burden on traders and the general public. He added that reasonable demands raised by trader associations would be accepted and formally presented at the GST Council meeting, along with a request for suitable relief measures.

Referring to constituency-level development, the minister said that several long-pending and complex issues faced by residents would be resolved. Necessary infrastructure and public facilities would be provided, and efforts would be taken to ensure the overall development of the constituency, with the aim of transforming it into a prosperous region.

When people search for a home loan—whether floating or fixed—the first thing they usually look for is the lowest available interest rate. However, beyond the rate itself, an equally important question is which type of loan will result in paying the least total amount over time: a floating-rate loan or a fixed-rate loan.

Both floating and fixed-rate home loans have their own advantages and drawbacks, and the better option depends largely on the borrower’s financial situation and risk tolerance.

Floating Rate Home Loans

In a floating-rate home loan, the interest rate changes over time based on broader market conditions. This means the monthly instalment is not constant and may increase or decrease during the loan tenure.

Advantages:

• There is always the possibility that interest rates may come down in the future, which can reduce monthly instalments or shorten the loan tenure.
• Over a long period, floating-rate loans often turn out to be cheaper overall if interest rates trend downward.

Disadvantages:

• If interest rates rise, monthly instalments can increase, leading to higher repayment burden.
• Borrowers must be prepared for uncertainty, as budgeting becomes harder when instalments fluctuate.

Fixed Rate Home Loans

In a fixed-rate home loan, the interest rate and the monthly instalment are locked in at the beginning and remain unchanged for the agreed period or the entire tenure.

Advantages:

• Monthly instalments remain stable and predictable, making financial planning easier.
• Borrowers are protected from interest rate hikes during the fixed-rate period.

Disadvantages:

• Fixed-rate loans generally start with higher interest rates compared to floating-rate loans.
• If market rates fall later, borrowers do not benefit from lower rates unless they refinance or switch loans.

Income Growth and Repayment Comfort

For borrowers whose income is expected to increase steadily over time, a fixed instalment may feel easier to manage in the long run, as the EMI becomes a smaller portion of their income. On the other hand, borrowers with variable income may prefer the flexibility of a floating-rate loan if they are comfortable with changing instalments.

Which Option Is Better

There is no one-size-fits-all answer. The choice between floating and fixed-rate home loans depends on:

• Loan tenure
• Repayment capacity
• Stability and growth of income
• Comfort with interest rate fluctuations
• Long-term financial goals

Borrowers who prefer certainty and stable cash flow may lean toward fixed-rate loans, while those who can handle some risk and aim for potential long-term savings may find floating-rate loans more suitable.

For years, the idea of government support to help urban households secure a permanent home has been part of India’s policy conversation. In theory, such housing initiatives are designed to bridge the widening gap between income growth and rising urban living costs. In practice, however, the experience often unfolds very differently on the ground.

In many cities, rents increase faster than wages, land prices escalate steadily, and affordable housing remains out of reach for large sections of middle- and lower-income families. Housing schemes, while well-intentioned, frequently exist in a space between promise and procedure. For potential beneficiaries, hope is quickly followed by layers of documentation, verification, and administrative hurdles.

The latest phase of the urban housing mission, which moved into its next stage from late 2024, aims to refine earlier efforts rather than reinvent them. The focus remains on easing access to home ownership through financial support linked to construction or purchase. Instead of direct cash handouts, the assistance is routed through formal lending channels, tying benefits closely to home loans and institutional financing.

What this actually means for a family depends far less on public announcements and far more on practical factors. Eligibility criteria play a decisive role, often based on income limits, property ownership status, and household composition. Even eligible applicants must navigate bank-level processes, where loan approval depends on credit history, repayment capacity, and compliance with lending norms.

Paperwork remains a critical point of friction. Applications pass through multiple stages — from submission and verification to lender approval and final benefit disbursal. At each step, delays or discrepancies can stall progress. For many households, the challenge is not awareness of the scheme but successfully carrying their application through the entire system without errors or rejections.

As a result, outcomes vary widely. Some families manage to reduce their borrowing burden and move closer to home ownership, while others struggle with documentation gaps, procedural delays, or mismatched expectations. The effectiveness of the programme ultimately lies not in its headline objectives but in how smoothly eligibility checks, banking processes, and administrative coordination work together.

In urban housing support, the fine print matters as much as the policy vision. Benefits are real, but they are rarely delivered in a straight line.

In a fishing hamlet near Ennore, nearly 150 households have been facing a persistent and severe health crisis for several years. Residents report constant exposure to fine dust, frequent breathing difficulties, and terraces that remain damp throughout the year, coated with thick blackish-grey deposits. These conditions have become part of daily life, affecting both physical health and living standards.

The primary cause lies barely a kilometre away, where vast stretches of fly ash mixed with river sand remain uncleared along the floodplains of a nearby river. These deposits have continued to exist despite a judicial directive issued several years ago that mandated their complete removal. The failure to act has allowed the problem to worsen with time.

Fly ash, a powdery residue generated during coal combustion in thermal power plants, poses serious environmental and health risks when left exposed. The material currently affecting the area is linked to a major spill that occurred several years ago, when a pipeline carrying fly ash slurry ruptured. During that incident, thousands of tonnes of toxic ash flooded surrounding creeks and river systems, contaminating water bodies and nearby settlements.

Although a government-commissioned technical study was conducted to assess the situation and recommend measures to reinforce the ash storage area and reduce pollution, visible progress on the ground has been minimal. While authorities have stated that preparatory studies are complete and corrective action will begin soon, residents say they have heard similar assurances before, with little change in reality.

For the local fishing community, the crisis goes beyond health concerns and has become a serious livelihood threat. Fisherfolk recall a time when crabs, prawns, and fish were plentiful in nearby waters. Today, catches have sharply declined, and whatever remains is often considered unsafe due to contamination. Many fear that prolonged exposure to polluted water has poisoned aquatic life, making fishing increasingly unviable.

As fly ash continues to blanket the area, residents remain trapped between environmental neglect and administrative delays, struggling daily with health risks, economic uncertainty, and the long-term consequences of industrial pollution.

Buying a home is a lifelong dream for many people. Families often spend years saving money, building financial stability, and planning carefully to turn this dream into reality. However, in India’s urban housing market, rising property prices, increasing construction costs, heavy loan commitments, and a limited supply of budget-friendly homes make homeownership challenging—especially for salaried individuals, middle-income families, and those purchasing a house for the first time.

This is where government-supported housing initiatives play an important role. These programs are designed to bridge the gap between aspiration and affordability by offering financial assistance, incentives, and structured support to eligible buyers. Their primary aim is to make homeownership more achievable for people who might otherwise remain renters due to financial constraints.

In the context of government housing assistance, a first-time homebuyer generally refers to an individual or family that does not already own a qualifying residential property under the rules of the specific program. Eligibility is typically verified through formal declarations confirming that the applicant does not own a house within the relevant city, state, or income category, as defined by the scheme guidelines. This ensures that benefits are directed toward genuine first-time buyers rather than repeat investors.

At the national level, urban affordable housing efforts are structured around a central framework that focuses on expanding access to housing rather than relying on a single approach. Instead, multiple support mechanisms are used, such as financial assistance, interest support, partnerships with developers, and incentives for new construction. This multi-pronged approach allows households with different income levels and housing needs to find suitable options within the system.

Overall, government-backed housing initiatives play a crucial role in helping first-time homebuyers transition from renting to owning. By reducing financial pressure, improving access to credit, and encouraging the supply of affordable homes, these programs make the goal of owning a home more realistic for millions of urban families across the country.

A major cement asset acquisition is set to take place, with cement operations of an infrastructure conglomerate expected to be acquired for more than Rs 2,500 crore, according to sources. The transaction follows the breakup and integration of key businesses of the conglomerate after it was taken over through the insolvency resolution process.

The proposed deal would transfer control of approximately 5.2 million tonnes per annum (MTPA) of cement capacity along with 3.3 MTPA of clinker capacity to the acquiring company. Sources indicated that the buyer has not yet issued an official response to requests for comment.

The buyer had earlier entered into an agreement to acquire these cement assets before insolvency proceedings began. However, that earlier transaction faced multiple hurdles, including legal disputes and shareholder objections, which ultimately stalled the deal.

As part of the current arrangement, a fresh agreement has been signed between the buyer, the seller, and the new owner that emerged from the insolvency process. This agreement aims to fully resolve all outstanding disputes related to the cement business, including pending court cases, arbitration awards, and earlier framework agreements. Sources added that a formal public announcement regarding the transaction is expected in the near future.

Separately, one of the group entities involved holds around 243 acres of land in Kanpur, which has been identified as strategically important for the development of a logistics park and warehousing facilities. The land is expected to play a key role in strengthening inland logistics and supply chain operations in northern India.

Fresh guidelines have been issued to streamline the empanelment of insolvency professionals for faster appointments in insolvency and bankruptcy cases. The guidelines outline the process for preparing a panel of professionals eligible to act in various insolvency roles. Applicants must not be under suspension, debarment, or facing disciplinary proceedings, and are required to disclose any recent criminal convictions. Under the new norms, interested professionals must submit an expression of interest to be included in the panel. Once consent is given, they cannot refuse assignments except with specific permission from the appropriate authority. Eligible professionals must submit their expression of interest by June 19, 2026, and the final panel will be shared with adjudicating authorities by June 30, 2026.

A registered sale deed carries a strong presumption of validity and genuineness, and its registration is a solemn statutory act that confers a high degree of sanctity on the document, a tax appellate authority has ruled.

Setting aside an assessment order, the appellate body held that a registered sale deed cannot be lightly disregarded by tax authorities while examining claims related to property transactions and capital gains exemptions. The authority observed that once a document is duly registered in accordance with law, it must be presumed to be genuine unless there is clear and cogent evidence to the contrary.

The case arose from an assessment in which the tax officer refused to accept a registered sale deed as proof of purchase of a residential flat and consequently denied exemption claimed on long-term capital gains arising from the sale of another property and reinvestment in a residential house. The officer had treated part of the transaction with suspicion and made additions to income.

In appeal, the adjudicating authority noted that the taxpayer had sold a residential property through a properly executed and registered sale deed for valuable consideration. The consideration was received partly in cash and partly through recognised banking channels. The appellate authority found that the taxpayer had produced the best possible evidence available under law to establish the genuineness of the sale and subsequent purchase.

Criticising the assessment order, the authority held that the tax officer had acted without proper basis, relying on irrelevant material and conjectures rather than evidence. It observed that the conclusions drawn were illogical, speculative, and unsustainable in law, and that the additions were made in a high-handed manner.

Allowing the appeal, the authority ruled that registered documents enjoy a high evidentiary value and that tax authorities cannot disregard them merely on suspicion. It reaffirmed that unless fraud, suppression, or fabrication is proved with material evidence, a registered sale deed must be accepted as valid proof of sale or purchase for the purpose of claiming deductions and exemptions under tax law.

The ruling reinforces the legal principle that registration imparts authenticity and credibility to property transactions, providing protection to taxpayers against arbitrary denial of legitimate tax benefits