This initiative aims to help secure funding at more favorable rates and pass on the benefits to borrowers, particularly in the affordable housing sector. In a communication dated October 6, it was confirmed that  would be provided for secured non-convertible debentures issued. The objective is to help these companies diversify their funding sources and reduce their dependence on traditional funding avenues. 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 maintain gross NPAs below 2.5% and net NPAs below 1.5%.

To make the bonds more attractive to investors, it was emphasized that high credit ratings are essential. Many HFCs face challenges in issuing bonds due to lower ratings, often caused by issues like asset-liability mismatches.

The regulatory body 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. The companies 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 improve the external credit rating of the bonds and help the companies raise funds at lower interest rates.

The state government has sanctioned ?1.2 crore for developing road and water infrastructure at an upcoming industrial park, which will be the second major industrial estate in the region. The district administration has earmarked 125 acres near a major road for the project. With assistance from the state’s investment promotion agency, plans are in place to allocate the entire park to a leading electronics manufacturer.

The facility will be located in nearby villages, close to a prominent sports training academy. The land, previously part of a government-owned defense facility, has been retrieved and reclassified as government land. Unlike other industrial parks, the state will focus on developing the main access road connecting the park to the major road.

The state water supply and drainage board 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 the international airport, land rates at the industrial park are expected to be higher than at another nearby industrial estate.

Additionally, another industrial park is being developed along a highway, proposed as a hub for non-leather footwear manufacturing, which is expected to create 5,000–10,000 jobs for rural communities across the region.

Chennai’s third master plan has been developed using insights from over 25 studies covering economic growth, urban housing, transport, environmental sustainability, and technology,  who previously served as CMDA Member-Secretary. Speaking at the inauguration of Tamil Nadu Land Use 2025, the state’s first international land use conference organized by the State Planning Commission, They should include economic strategies, identify industrial clusters, and align labour markets to drive balanced urban growth. He emphasized that the plan should promote transit-oriented development, enabling people to live and work along metro, road, and suburban corridors — reducing commute times and carbon emissions. Additionally, blue-green assets such as water bodies and open spaces must be mapped and protected. “It’s not urbanisation itself that damages the environment,” Mishra said. “It’s the absence of proper planning and unchecked urban sprawl that cause harm.” Within the Chennai Metropolitan Area, home to 1.15 crore people, commute times have risen by 12% since 2019, while public transport use remains below 30%. cited examples from Ahmedabad and Pune, where integrated development along transit corridors cut per-capita energy use by 22% and greenhouse gas emissions by 26%. He added that rationalising the Floor Space Index (FSI) for industries can boost productivity per hectare and limit sprawl. Inaugurating the two-day event, State Industries Minister T.R.B. Rajaa said the government aims to transform Tamil Nadu into a leading national hub for research and development.

The Greater Chennai Corporation (GCC) is expected to finalise the redrawing of boundaries for its proposed expansion from 200 to 300 wards — including areas like Vanagaram and Adayalampattu village panchayats — by December, a senior official has said. However, the actual merger will take effect only in February 2027, aligning with the end of the current term of the elected bodies of both the GCC and the village panchayats. This timeline will allow local body elections to be held simultaneously across all 300 wards, the Revenue Department official explained. Since the tenure of the existing representatives must be completed, no changes can be implemented before February 2027, helping to avoid administrative hurdles and enabling a streamlined election process, the official added.

A proposed ?1,400-crore cement manufacturing plant has sparked widespread opposition. The project has raised concerns not only among Ambivli locals but also has united residents from nearby villages. Fearing serious health risks and potential pollution of nearby rivers, locals have launched poster campaigns and signature drives to oppose the plant. The proposed 26.1-hectare site is located just 10 meters from a railway station and is close to the Kalu and Ulhas rivers. Nearly 500,000 people live within a 2-kilometer radius of the site. Environmental activists have pointed out that the project violates existing environmental regulations, which require such industrial units to be located at least 500 meters away from residential areas. According to sources, the state pollution control board has received over 300 objections following its public notice inviting feedback on the proposed plant. A public hearing regarding the matter is scheduled for Tuesday. Local leaders criticized the apparent change in plans, saying that the land was originally promised for a warehouse to create local employment, but now it threatens the community's health. Protests are expected to intensify in the coming days. While the company behind the project has declined to comment officially, sources say it maintains that the land is within a designated industrial zone.

The local civic body has collected ?910 crore in property tax during the first half of the 2025–26 financial year, against its target of ?1,100 crore for the April to September period. Officials stated that efforts are being intensified to meet the target before the September 30 deadline. To improve compliance, the civic body has rolled out a range of online and offline payment options and is sending regular reminders to defaulters. While special tax collection camps were held in previous years, they were skipped this year as more taxpayers have shifted to online payment methods. The rise in collections has been attributed to digital initiatives, such as reminders via messaging apps, complete with QR codes for instant payments.

“We are confident of meeting the target within the next two days. Revenue officials are also preparing a list of defaulters from both the last financial year and the current period, and follow-ups will be done zone-wise,” said a revenue official. In addition to digital reminders, the civic body has also been using pamphlets and newspaper advertisements to remind property owners to pay on time and avoid penalties. The civic body has also collected ?143 crore in professional tax so far.

To further enhance tax collection, the QR code payment option has recently been extended to commercial tax. A common QR code has been displayed in shopping complexes, while individual commercial units have been given separate codes. This system reduces the need for direct interaction and enables faster, more efficient payments with instant acknowledgments. In the 2024–25 financial year, many property owners paid their taxes early to take advantage of incentives, particularly in the second half (October to March), helping collections exceed ?2,000 crore – the highest recorded by the civic body.

The state Cabinet has decided to exempt residential buildings built on plots larger than 1,200 square feet within the city limits from the requirement of obtaining an Occupancy Certificate (OC). This decision follows a Supreme Court ruling that made OCs mandatory for electricity connections, which left over 3.3 lakh completed buildings across the state without power due to a lack of approved building plans and OCs. To address this issue, the Cabinet has introduced a special law offering a one-time exemption, allowing these buildings to receive electricity connections.

However, it was clarified that this relief will not apply to all large buildings automatically — exemptions will be granted only after each case is verified. The new rule builds on a previous Cabinet decision that waived the OC requirement for buildings up to 1,200 square feet, now extending the benefit to larger homes as well. Moving forward, the government plans to impose penalties on those who violate building regulations and will introduce new legislation to prevent such irregularities in the future.

The Supreme Court has upheld the decision of the High Court to strike down the investigation by the Enforcement Directorate (ED) into the alleged multi-crore sand mining scam in the state. Along with the investigation, the ED's move to attach properties of miners and their associates—on the grounds that they were "proceeds of crime"—has also been set aside. A bench of justices dismissed the ED’s appeal against the High Court’s July 16, 2024, order.

The High Court had previously clarified that the central issue was not whether illegal sand mining had occurred, but whether the ED could act under the Prevention of Money Laundering Act (PMLA) without another competent agency investigating a predicate offence and without a clear determination of proceeds of crime. The Supreme Court agreed with this reasoning, noting that unless the proceeds of crime are clearly established and linked to a scheduled offence, action under PMLA cannot be sustained. The court referred to its previous ruling, emphasizing that mere possession of unaccounted wealth does not automatically qualify as "proceeds of crime."

In its detailed order, the High Court bench had also observed that while courts typically do not interfere in investigations, they cannot allow citizens to be exposed to arbitrary actions by investigating officers. Since the ED’s initiation of proceedings under PMLA lacked proper legal grounds, the bench rejected the agency’s argument that judicial interference was unwarranted.

On September 22, 2025, the GST Council announced a major reform that could significantly impact India’s construction and housing sector. The tax system has been simplified into just two slabs — 5% and 18% — with cement now taxed at 18% instead of 28%. For the first time since GST began in 2017, builders and homeowners will see a real reduction in one of the biggest cost drivers of construction. However, the savings won’t automatically flow into your pocket. To take full advantage, homebuyers, contractors, and self-builders need to understand how the new rules work. This guide explains what exactly has changed, how much you could save on materials, and what precautions to take before finalizing a building contract. The streamlined tax structure not only makes budgeting easier but also brings greater predictability to construction costs. In short, GST 2.0 is more than just a tax cut—it’s an opportunity to build more efficiently and affordably. By identifying where the savings lie and planning smartly, you can make sure your project benefits fully from these reforms. Want to know how much you could save? Try our House Construction Cost Calculator for a personalized breakdown.

Singapore-based company is preparing to sell its office property, One Paramount in Porur, Chennai, to Prime Offices Fund,  for about ?2,750 crore. The deal highlights the growing interest of investors in India’s fast-expanding office market. One Paramount is a Grade-A IT park spread over 2.4 million sq. ft. on a 12.6-acre site. It hosts big multinational . With high occupancy levels, the asset offers attractive rental yields of about 7–7.5%, which is better than the market average. Keppel had itself purchased the same property in mid-2024 for about ?2,100 crore from RMZ Corporation and Canada’s CPP Investments. For Prime Offices Fund, this is part of a larger expansion strategy. The fund recently bought Prius Platinum (0.3 million sq. ft.) in Delhi’s Saket for about ?750 crore and another nearby 300,000 sq. ft. property for around ?760 crore. Both are fully leased and upgraded to standards, giving steady income. Chennai’s office demand is now spreading beyond OMR to new hubs such as Radial Road, Tambaram, Ambattur, and Madhavaram, helped by better infrastructure. Leasing is coming not only from IT and global capability centres but also from banking, financial services, insurance, and life sciences—with the life sciences sector alone seeing 60% growth in 2024.

The GST Council has announced major tax cuts on key construction materials such as cement, granite, and marble, aiming to reduce project expenses for developers and ease the burden on homebuyers. With GST 2.0, cement and ready-mix concrete will now be taxed at 18% instead of 28%, while bricks, tiles, and sand fall to 5% from 18%. Paints and varnishes will also come under 18% instead of 28%. These reforms take effect from September 22, the first day of Navratri, which Prime Minister Narendra Modi described as a “GST bachat utsav” during his address on September 21. The new GST structure has been simplified to mainly two slabs—5% and 18%—while luxury goods continue to attract a 40% levy. Earlier, GST was spread across four slabs: 5%, 12%, 18%, and 28%, with an additional cess on certain items. Industry experts say the reduction in GST on construction inputs could lower overall building costs by 3–5%, translating into about ?1,000 savings per square meter of construction. This benefit is expected to improve project economics for developers and make homes more affordable for buyers. G Hari Babu, national president of NAREDCO, welcomed the move and stressed that the gains from cheaper cement must be passed on to real estate projects. If the cement industry absorbs the tax benefit without passing it along, he warned that developers may seek government intervention. But if the benefit flows through, it could directly cut project costs, allowing developers to price homes more competitively, boost affordability, and build buyer confidence.