Revenue department of Greater Chennai Corporation (GCC) has set a target of 500 crore in property tax collections during the incentive period of the first half of 2025-2026 financial year. This follows a record-breaking collection of 2,023 crore in 2024-2025, the highest in the last 16 fiscal years. The civic body offers a 5% incentive on the net property tax payable for those who settle their dues between April 1 and 30, with a maximum discount of 5,000. In 2023-24, the civic body collected 879 crore in property tax during the first half and 1,144 crore in the second half. City revenue officer K Bhanuchandran said, "We achieved our target and even surpassed it in the previous fiscal. It was possible because we collected 379 crore during the same period during the incentive period." Meanwhile, in a move to streamline tax data management, the Chennai corporation has decided to privatize statistical record-keeping. The company will be asked to maintain records of property and professional tax collections and dues. A tender was floated in March for a year to send tax reminders through WhatsApp, along with QR codes for instant payment. 
The initiative has been well received by property owners many of whom are taking advantage of the incentive scheme. "By paying our taxes on time, we were able to save some money and avoid penalties. I feel that the incentive period or the discount percentage should be increased to encourage more people to pay at the earliest," said C Raghukumar from Perambur. Many taxpayers opted for early payment in 2024-25. Officials are hoping that the trend will help them meet their collection targets this year too.
 

Construction delays have hit two major Tamil Nadu Urban Habitat Development Board (TNUHDB) housing projects in the city, as the contractor, M/s Ramalingam Construction Company (P) Ltd, failed to meet deadlines. With only a fraction of the work completed, TNUHDB has imposed penalties and issued warnings. The 118.53 crore project at Andimaniyam Thottam, ward 126, Mandavelli,aims to deliver 702 residential units using pre-fabricated concrete technology within 18 months. The contract requires essential amenities, including drinking water, sewage systems, electricity, and environmental infrastructure. However, since the project site was handed over on Aug 23, 2024, workers completed only 15% of the project instead of the expected 45%. Construction progress remains slow across all four blocks. Despite already being two years overdue, the project remains incomplete. In response to the delay, TNUHDB managing director Anshul Mishra imposed a penalty of 2,000 a day on the contractor, which will continue until the project is completed. Officials have urged the contractor to accelerate construction and avoid further repercussions. Failure to meet critical construction milestones have raised concerns among officials. The TNUHDB has issued a notice to the contractor, demanding immediate acceleration of work. "If delays persist, we will take further action as per contractual terms. 
 

Municipal corporations across major Indian cities have reported record-breaking property tax collections in the financial year 2024-25. Several factors contributed to this surge, including digitisation, strict enforcement measures, and increased taxpayer participation. 

Mumbai: BMC Achieves Historic Rs 6,198 Crore Collection

The Brihanmumbai Municipal Corporation (BMC) recorded its highest-ever property tax collection, accumulating Rs 6,198 crore in FY 2024-25, nearly meeting its Rs 6,200 crore target. The G South ward, covering Lower Parel and Worli, contributed the highest amount at Rs 624.50 crore, followed by the K East and K West wards at Rs 526.64 crore and Rs 504 crore, respectively.

Bengaluru: BBMP Inches Towards Rs 5,000 Crore Mark

The Bruhat Bengaluru Mahanagara Palike (BBMP) collected Rs 4,800 crore by March 30, 2025. officials aimed to surpass Rs 5,000 crore, banking on last-minute payments. The administration implemented stricter recovery measures, including property auctions for chronic defaulters and enhanced IT systems for tax enforcement.

Chennai: Civic Body Surpasses Rs 2,000 Crore for the First Time

The Greater Chennai Corporation (GCC) collected Rs 2,020 crore in property tax from April 1, 2024, to March 31, 2025, surpassing the previous year’s Rs 1,755 crore. Over Rs 100 crore was collected in the last week of March.

Delhi: NDMC and MCD Struggle to Meet Targets

The New Delhi Municipal Council (NDMC) collected Rs 1,050 crore in FY 2024-25, an increase of Rs 24 crore from the previous year. However, it fell short of its Rs 1,150 crore target. Meanwhile, the Municipal Corporation of Delhi (MCD) collected Rs 2,150 crore, far below its Rs 4,000 crore goal.

Ahmedabad: AMC Reports Four-Year High in Collections

The Ahmedabad Municipal Corporation (AMC) reported a 3.57 per cent increase in property tax revenue, collecting Rs 1,739.90 crore in FY 2024-25 compared to Rs 1,679.98 crore the previous year. AMC also saw growth in professional tax (Rs 270.06 crore) and vehicle tax (Rs 224.42 crore), bringing its total tax revenue to Rs 2,256.31 crore.

Hyderabad: GHMC Crosses Rs 2,000 Crore for the First Time

The Greater Hyderabad Municipal Corporation (GHMC) recorded a property tax collection of Rs 2,034 crore, surpassing the Rs 2,000 crore mark for the first time. The One-Time Settlement (OTS) scheme, offering a 90 per cent waiver on interest for defaulters, significantly contributed to the increase.

Thane: Near-Target Achievement at Rs 810 Crore

The Thane Municipal Corporation (TMC) collected Rs 810 crore in property tax for FY 2024-25, achieving 95 per cent of its Rs 850 crore target. The Majiwada-Manpada ward led with Rs 246.14 crore. The corporation attributed its success to digital payment options and awareness campaigns.

Nashik: Highest Collection in 40 Years

The Nashik Municipal Corporation (NMC) collected Rs 256 crore, marking a 25 per cent rise compared to FY 2023-24. This was the highest collection in NMC’s 40-year history. The administration incentivised early payments by offering a rebate of up to 10 per cent for online transactions.

Pimpri-Chinchwad: Record Rs 966 Crore Collection

The Pimpri-Chinchwad Municipal Corporation (PCMC) collected Rs 966 crore in property tax in FY 2024-25, with 5.02 lakh regular taxpayers and 92,465 newly assessed properties contributing to the record-breaking figure.

Ludhiana and Mohali: Rising Collections with Strict Enforcement

• The Ludhiana Municipal Corporation (LMC) achieved a record Rs 153 crore in property tax collection, exceeding its Rs 150 crore target. This was a significant increase from the Rs 137.70 crore collected in FY 2023-24.

• Mohali Municipal Corporation (MC) collected Rs 50 crore, surpassing last year’s expectations by Rs 10 lakh. Officials issued property seizure notices to defaulters, ensuring compliance.

Kurnool and Vizianagaram: Southern Cities Improve Tax Revenue

• The Kurnool Municipal Corporation (KMC) collected Rs 75 crore in property tax for the financial year 2024-25, achieving over 75 per cent of its target. Tax collection and water charge payments concluded on March 31.

• Vizianagaram Municipal Corporation collected Rs 38.65 crore, exceeding the previous year’s Rs 35.17 crore.

Key Trends in Property Tax Collection for FY 2024-25

• Technology Integration: Many cities adopted online payment options, mobile collection vans, and SMS reminders to facilitate tax payments.

• Strict Enforcement: Civic bodies issued property seizure notices and service interruptions to defaulters.

• Incentives & Rebates: Cities like Nashik and Hyderabad offered rebates and OTS schemes to encourage compliance.

• Public Awareness Campaigns: SMS alerts, auto-rickshaw promotions, and social media drives helped increase tax participation.

Future Outlook: Increasing Targets and Digital Transformation

With digital platforms facilitating easy payments and municipalities enforcing stricter collection policies, property tax revenues are expected to rise further in the coming years. Many cities are now setting ambitious targets for FY 2025-26, aiming to surpass previous records while ensuring a streamlined tax collection process.

Indian Maritime University former vice-chancellor and forme bureaucrat K Ashok Vardhan Shetty on tuesdsy proposed the idea of setting up a university finance commission in every state to rationalize funding for state universities. Similar to the state finance commission for local bodies, a university finance commission is needed in each state to assess the need for various courses, department, the quantum of grants. For example, Annamalai University is getting more grants than the funds given to all state universities put together. This shows there is no reasoning in our funding. There is considerable scope for rationlization of funding and this can be doen once every 10 years. He also suggested giving some additional grants based on performances indictors such as graduation outcomes, research output and students employability. On the ongoing financial crisis in state universities, A situation where pubilcly funded unversities and colleges lack full time faculty members. In some universities teachers were not paid for months at a time, and it shows the very low priority accorded to higher education. It's not only in Tamil Nadu it's the same in other states also. He also said public universities are guilty of creating unnecessary departmnets,starting too many courses and creating too many posts. India cannot become a developed nation if it neglects its public universities. It must emulate China and South Korea in creating more publicly funded institutions. Inadequate funding and neglect of existing universities is a gross disservice to students. To improve access to higher education he suggested measures, including lowering fees in top Institutions such as IITs, IIMs and overhauling the education loan system. The education loan. 
 

The government of Maharashtra has increased ready reckoner (RR) rates, which determines property valuations for stamp duty and taxation, for the financial year 2025-26 across the state after keeping it unchanged for the last two years. Mumbai will witness an average 3.39% hike, while the average hike across the state is 3.89%. Municipal corporation areas across the state, except Mumbai, will witness an average increase of 5.95%, while municipal councils and nagar panchayats will see a 4.97% hike. Urban areas will see a 3.29% rise, and rural regions will witness an average increase of 3.36%, the state government said in a statement. The impact is particularly significant in cities like Navi Mumbai with 6.75%, Thane with 7.72%, Nashik 7.31%, and Solapur 10.17% increase, where the hikes are steeper. Developers and investors are concerned about rising costs, as construction expenses and premiums may put pressure on the market. We appreciate the state government’s move to revise Mumbai ready reckoner rates marginally. With Mumbai’s real estate market witnessing a surge in redevelopment activities, this upward revision in rates will escalate construction costs, as development expenses, additional FSI, and municipal charges are directly linked to it,” said Niranjan Hiranandani, chairman of developers’ body NAREDCO. With Mumbai's property prices already at premium levels, the revised RR rates could make homeownership more expensive. Experts predict that developers may pass on the additional burden to buyers, further driving up costs in Maharashtra’s key real estate markets.
 

Chennai Metro Rail Limited (CMRL) has scrapped its earlier plan to build Tambaram metro station on Grand Southern Trunk (GST) Road and will now construct it inside the Tambaram railway junction premises. The move, prompted by the Asian Infrastructure Investment Bank (AIIB), aims to ensure better multimodal integration. The new station will take over the parking lot and autorickshaw lanes near the main western entrance of the railway station, allowing smoother transfers between suburban and metro services. With more south-bound trains now originating from Tambaram and major express trains such as Tejas and Vande Bharat halting there, the railway station's footfall is expected to surge. Many of these passengers will carry heavy luggage, so walking distance to the metro should be minimal. The metro entry should ideally be close to the 450-500m foot overbridge currently being built by the railways,' said Dayanand Krishnan, a resident-activist from Tambaram. Meanwhile, CMRL finalised the site for Kilambakkam station as well. A two-level metro station will come up directly opposite the Kalaignar Centenary Bus Terminus (KCBT) on vacant land. These two stations-Tambaram and Kilambakkam-will serve as key transit points on the Airport-Kilambakkam extension of Phase I, aimed at strengthening connectivity to the city's southern suburbs. The 52.94-km proposed Poonamallee-Parandur extension will pass through Chembarambakkam, Thandalam, Irungattukottai, Sriperumbudur, and Sunguvarchatram, ending at the upcoming Greenfield airport. This corridor will have 20 elevated stations and is estimated to cost ?15,906 crore. To optimise timelines and budgets, the first phase from Poonamallee to Sunguvarchatram, covering 27.90 km with 14 stations, will be taken up first at a cost of ?8,779 crore.
 

Office space leasing in India's top seven cities increased by 15% in Q1 2025, driven by demand from domestic and foreign companies. Despite some regions experiencing declines, the overall market reflects strong growth in Grade A spaces, and a continued trend towards ESG-compliant and tech-integrated workplaces. The office space leasing market in India experienced a 15% surge during the January to March 2025 quarter, reaching a total of 159 lakh sq ft, according to the latest report from real estate consultant Colliers India. This rise is attributed to increasing demand from both domestic and international corporates. Cities like Bengaluru and Chennai led this growth, posting impressive rises of 13% and 93% respectively in gross office leasing. However, areas like Hyderabad and Kolkata saw significant declines in leasing activities. The report highlights a strong preference for Grade A spaces, with corporates from technology, BFSI, and engineering sectors being the primary tenants. Industry leaders express optimism about continued growth, attributing it to economic maturing, strategic expansions of major firms, and the shift towards ESG-compliant, tech-integrated offices. The market is expected to maintain its momentum into 2025, supported by positive domestic growth prospects and policy initiatives in key states.

The new Pamban railway bridge in Tamil Nadu is expected to be inaugurated on April 6,2025, coinciding with Ram Navami. This engineering marvel, India’s first vertical lift sea bridge,will strengthen rail connectivity to Rameswaram, one of the holiest Hindu pilgrimage sites. Significance of the Inauguration Date Ram Navami marks the birth anniversary of Lord Ram, and the bridge holds religiousimportance as Rameswaram is believed to be the site where Ram built a bridge to Lanka, as described in the Ramayana.  Modern Engineering and Enhanced Features The new 2.07 km bridge replaces the 110-year-old Pamban bridge, which was shut down in 2022 due to severe corrosion from saltwater exposure. The bridge features 99 spans and a 72.5-metre vertical lift span, allowing ships to pass seamlessly. Standing three metres taller than the old structure, it ensures better clearance for maritime traffic. The upgraded bridge is designed for higher durability, increased traffic capacity, and improved navigation efficiency, offering a smooth travel experience for pilgrims and tourists. The foundation stone was laid in November 2019, and construction commenced in early 2020.  Preparations for the Grand Inauguration Senior railway officials, including Southern Railway’s Additional General Manager Kaushal Kishore and Madurai Divisional Railway Manager Sharad Srivastava, recently inspected the bridge and Rameswaram railway station to oversee final preparations. While there has been no official confirmation from the Prime Minister’s Office (PMO), authorities have tentatively scheduled the inauguration for the second week of April. The old bridge will remain in place for now, with decisions regarding its future yet to be finalised. Boost to Tourism and Pilgrimage With over 25 lakh pilgrims visiting Rameswaram annually, the new Pamban Bridge is expected to enhance religious tourism, strengthen economic activity, and improve accessibility for both travellers and locals.

 BirlaNu (previously known as HIL) plans to invest $150 million to achieve their goal of becoming $1 billion dollar company by 2028. 
Akshat Seth, managing director and CEO of the company said, “Our focus has always been on delivering high-quality, sustainable building materials. We’ve introduced Organic Based Stabilizers (OBS) in UPVC pipe manufacturing: an industry first in India, eliminating heavy metals. We’ve doubled our AAC block capacity in Chennai to four lakh cubic meters per year, making it one of the country’s largest facilities. And marking our expansion into the home and interiors space, we intend to bring our global premium flooring brand Parador to India." The company, part of CK Birla Group, recently went under the re-branding exercise. It has 32 manufacturing facilities across India and Europe.
 

Brookfield Group subsidiary Moon Holdings (DIFC) has entered a multifaceted transaction with Supreme Infrastructure India promoter group companies BSS Property Ventures and Rajeshwar Property Ventures, said persons with direct knowledge of the development. The deal will allow the global alternative investment major to expand its commercial real estate portfolio in India that currently stands at 55 million sq ft, of which around 9 million sq ft is in the country’s financial capital. This specific transaction includes two principal components, the acquisition of majority shareholding in these Special Purpose Vehicles (SPVs) that have entered into a pact to get control of around 6 acres of prime land in Mumbai’s Powai locality,” said one of the persons mentioned above. This deal also includes permissible floor space index (FSI) of more than 1 lakh sq ft in favour of the SPVs. Brookfield has already invested over Rs 600 crore and is expected to invest more to build grade A office properties. Landowner Bhawanishankar Sharma has already registered two separate agreements for sale of land and the free-sale component with his two SPVs--BSS Property and Rajeshwar Property. Brookfield has been expanding its commercial real estate portfolio in Mumbai. In January, the company signed a pact with the MMRDA to invest $12 billion in various infrastructure projects across the Mumbai Metropolitan Region. In February, the company emerged as the sole bidder for a plot in the Bandra-Kurla Complex (BKC) during an auction conducted by MMRDA. It recently acquired an 8% stake in Nirlon Ltd, the owner of Nirlon Knowledge Park further solidifying its presence in the city's office space market. 
 

315Work Avenue, a co-working space provider, plans to expand to two million sq ft of workspace over the next one year with an investment of around Rs 400 crore. Manas Mehrotra, founder of the company said, "The demand has gained greater traction with corporates and MNCs continuing to make a beeline to co-working spaces that have emerged as strong centres of growth." The company currently manages three million sq ft space totalling around 60,000 seats across 45 locations in Bengaluru, Chennai, Hyderabad, Mumbai and Pune. It wants to be present in about 10-12 cities over the next two years and touch five million sq ft in 2025.