A housing finance company announced on Friday that it has reduced its benchmark lending rate by 25 basis points following the recent policy rate cut by the Reserve Bank of India.

The reduction in the company’s prime lending rate will benefit both existing and new borrowers by making home loans more affordable. The revised interest rates will now start from 8% and will come into effect from April 28.

The prime lending rate serves as the benchmark for determining interest rates on all types of loans.

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 housing finance company 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 the company'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.

The company'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.

The Tamil Nadu Stone Quarry, Crusher and Lorry Owners Association increased the prices of M-sand, P sand and jalli by Rs1,000 per unit from Tuesday. The association had launched an indefinite strike on April 16, urging the govt to withdraw the newly imposed mineral-bearing land tax. The Mines Department began levying this tax - Rs90 per tonne of rough boulder - starting April 4. With the introduction of this tax, quarry owners are now required to pay an additional Rs700 per unit of rough boulder. In addition, the seigniorage fee was revised from cubic metres to one tonne, resulting in an additional payment of Rs554 per unit to the Mines Department, compared to the earlier Rs254. K Chinnasamy, president, Tamil Nadu Stone Quarry, Crusher and Lorry Owners Association, said a meeting was held with water resources minister Duraimurugan and senior govt officials on Monday to discuss the new tax, seigniorage fee hike and other demands. The prices of M-sand, P-sand and jalli were hiked thrice in the past six months. M-sand, which cost Rs4,900 per unit in November, now costs Rs6,450. The price of P-sand has increased from Rs5,800 to Rs7,552 per unit. Similarly, the price of jalli has gone up from Rs3,900 to Rs5,523 per unit. These steep increases will directly impact the ongoing projects and contractors by escalating overall construction costs. He said they were planning to represent this issue to the govt and urge the state to regulate and control the price hike. Coimbatore Builders and Contractors Association president Ramyaa R Senthil said the price hike over the past year was abnormal. Instead of controlling it, the state govt has allowed the increase in building material prices. 

A co-working operator has rented 2.5 lakh square feet of office space in Chennai to provide managed workspaces to corporates. The upcoming centre has the capacity to accommodate more than 4,000 seats, the company said in a statement on Monday.

The operator has taken on lease 2.5 lakh square feet of office space at the standalone campus 'Olympia Crest', located in the heart of Chennai's IT corridor at OMR Zone 1. Gross leasing of office space hit a record in the 2024 calendar year on high demand, especially from foreign companies looking to establish Global Capabilities Centres (GCCs) in India.

Co-working operators take office space on lease from real estate companies and property owners and then sub-lease the workspaces to corporate clients. After the COVID pandemic, demand for office space in co-working centres has surged as corporates look to reduce capital expenditure and gain flexibility to expand or downsize their businesses.

Established in 2016, the operator has a presence in 50 locations across 18 cities with a total portfolio of 4 million (40 lakh) square feet. In July last year, it raised USD 8 million from investors, including India Inflection Opportunity Fund (IIOF), to expand its business.

The commercial real estate market of Chennai is expected to hit the 100 million square feet mark by 2026, propelled by high occupier demand, prudent investments, and infrastructure developments Over the last two years, the city has attracted USD 1.19 billion private equity flows underlining its strong status as an investment destination. All of these aspects are likely to push for the Grade-A office spaces, thereby ensuring that the city continues to be the country’s top business hub. A key factor behind this growth is the availability of young, skilled labour at competitive rates. “Chennai offers talented and young manpower at competitive rates, which attracts global companies to set up operations here,” says Karun Verma, senior executive director,  DLF Cyber City Developers Limited. With its young population and solid educational infrastructure, Chennai is a preferred destination for sectors like IT, BFSI, and life sciences. Micro-markets like Porur, Tharamani, and OMR are emerging as prime office locations, experiencing substantial demand. Chennai’s office market has remained resilient, with a 102 per cent increase in net absorption for Q4 2024, completing 1.1 million square feet. Rental growth has been competitive, with an 8-10 per cent year-on-year (YoY) increase in rental rates, reflecting strong investor confidence in the market. “Year-on-year growth of 8-10 per cent in rental rates reflects investor confidence in the market. 

The Tamil Nadu Urban Habitat Development Board (TNUHB) has imposed a fine of 15 lakh on a contractor for slow progress of reconstruction work at sites at Gandhi Nagar, Periyar Nagar, and Goyathoppu under the Pradhan Mantri Awas Yojana (Urban) – Affordable Housing in Partnership (PMAY-AHP) scheme. Each of these projects, involving the construction of tenements using pre-fabricated concrete technology, was awarded on a turnkey basis with a stipulated completion period of 18 months from the date of site handover. The contractor was expected to complete 75% of the work by now, as per the agreement. However, field inspections revealed delays across all locations. At the Gandhi Nagar site, only 44% of the work was completed. The Periyar Nagar project progressed even slower, with just 34% of the construction done. In Goyathoppu, work completion stands at 45%. In allcases, field officers reported that the production of precast concrete elements at the contractor's casting yard was slow. The consequences of these delays are significant. All three projects fall under vital reconstruction schemes by TNUHDB, and the intended beneficiaries already vacated their original homes in anticipation of timely completion. Many are now burdened with rental costs as they continue to wait for possession of their new homes,"  Recognising the social and financial impact on the displaced residents, TNUHDB has levied a fine of 5 lakh for each project, amounting to 15 lakh in total.  The contractor has been directed to immediately mobilise adequate manpower and materials to bring the projects back on track. Additionally, the firm has been asked to submit a detailed micro-level action plan before April 30, outlining specific measures to speed up the work. 
 

Home sales across India’s eight prime residential markets in the January-March period fell 19% over last year, as rising property prices and slowing growth forced buyers to exercise caution, according to a report by Proptiger.com, part of REA India. New home supply also dropped 10% in the first quarter of the calendar year, as developers adjusted expectations amid a price appreciation of the past couple of years, which made housing unaffordable for a large section of buyers in the world’s most populous country. The huge spike in prices had already started to show its adverse impact on sales. With a global trade war now bringing new uncertainty, it is only natural for buyers to adopt a cautious approach to investment, particularly in something so big as real estate,” said Dhruv Agarwala, Group Chief Executive Officer. Most urban Indians rely on housing loans to make a house purchase. Repo rate is the benchmark that determines the interest they would pay on this credit. A downward change in this rate is a certain measure to boost buyer confidence. According to the report, less than 100,000 residential units were sold in the January-March quarter, with most cities covered in the analysis showing a fall in numbers. While Bengaluru and Chennai bucked this trend, Hyderabad, MMR and Pune witnessed the sharpest sales drop. Signs of a market correction were also visible through a dip in new supply, with five of the eight cities showing an annual decline in launches. Pune, Hyderabad and Ahmedabadregistered the sharpest fall in numbers, the report showed. 
 

Nearly 20 premium shopping malls, comprising 123 lakh square feet of retail spaces, will become operational by 2026-end across eight major cities in the country to tap rising demand of retailers looking to expand business, according to Cushman & Wakefield. On Tuesday, real estate consultant Cushman & Wakefield released its report 'Premiumisation of India's Retail Sector - Upscaling, Upgrading and Evolving', at MAPIC India Summit here. The consultant noted that as many as 19 Grade A shopping malls covering 12.3 million (123 lakh) square feet of new retail space will become operational in 2025 and 2026 calendar years. These eight cities are-- Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Pune and Ahmedabad. Out of the 12.3 million square feet of new Grade A mall supply projected across 2025 and 2026, 8.6 million (86 lakh) square feet will be superior Grade (Grade A-plus), underscoring the sector's shift from scale to quality. The superior-grade malls typically owned and operated by reputed developers or institutional investors are characterized by their high occupancy rates (more than 85 per cent), upscale tenant mix, and service-rich environments. Saurabh Shatdal, Executive Managing Director, Capital Markets & Head, Retail India, Cushman & Wakefield, said, "India's retail landscape is evolving rapidly, and so are consumer aspirations. The rise of Superior Grade malls reflects a clear pivot from just scale to quality and experience. Today's consumers are seeking curated, design-led environments where the brand experience is as important as the product itself. Shatdal noted that categories like beauty, wellness, F&B, and athleisure, known for high engagement and trading density, are shaping this next phase of retail. India's total Grade A mall stock stood at 61.5 million (615 lakh) sq ft in 2024, with superior Grade malls already comprising 63 per cent (38.9 million sq ft) of the total. 
 

Metrowater will install one lakh smart water meters, integrated with a billing system, to monitor water usage in commercial buildings across city. In first phase, the meters will be installed for bulk consumers, including TNHB, and the readings will be sent to consumers' phones every month. An estimated 5 crore has been allocated for the initiative, and installation of these meters is expected to generate additional revenue for the department. Until now, Metrowater had installed mechanical meters with automated meter reading (AMR) in residential and commercial buildings. However, these meters show variation in readings and even register consumption when air passes through or when the water returns. Residential buildings were charged a flat rate of 80, with no proper accountability for both residential and commercial usage. To address this issue, the smart meters will soon be installed, targeting commercial and high-rise buildings in the first phase. Metrowater chief engineer O Parveez said, "Smart meters will accurately measure water consumption, leading to better revenue collection. At  present, we are supplying 1,100 MLD. We want to adopt a metering system similar to that of Tangedco. It will also help prevent water wastage and ensure accountability in water usage." The installation charges and tariff will be announced later, officials said. Installation of smart meters is also expected to raise awareness among consumers about efficient water usage. Of the 14 lakh consumers who pay tax, only 8 lakh pay water charges now. The board plans to increase the number of paying consumers, with charges applicable for buildings above 500 sqft. The tender will be floated in May, and the work order is expected to be issued within two months after that. Metrowater public relations officer M Vetrichelvan said the board already has a list of bulk consumers, and notices will be issued in advance.
 

 Private equity investments in Indian real estate declined 3 pc last fiscal year to USD 3.7 billion due to lower fund inflow in office buildings, according to Anarock. Real estate consultant Anarock's arm Anarock Capital on Monday released its data of private equity (PE) deals in Indian real estate. As per the data, the PE investments in real estate declined to USD 3.7 billion in 2024-25 from USD 3.8 billion in the preceding year. During the 2020-21 fiscal year, the PE inflow was USD 6.4 billion, but the investments fell in 2021-22 to USD 4.3 billion. It marginally improved in the 2022-23 fiscal year to USD 4.4 billion before decreasing in 2023-24. Shobhit Agarwal, MD & CEO, ANAROCK Capital, said, "PE investments have steadily declined over the past five years, dropping from USD 6.4 billion in FY21 to approximately USD 3.7 billion in FY25. This represents a 43 per cent decrease from FY21 levels, primarily driven by reduced foreign investor activity amid heightened global macroeconomic uncertainty and geopolitical volatility." As per the data, the share of foreign investors in total PE investments during the last fiscal year stood at 84 per cent while domestic 16 per cent. In assets class, office complexes saw a steep decline in investment to USD 806 million in FY25 from USD 2.2 billion in FY24. The PE investments in warehousing assets rose sharply, compensating for to decline in inflow in housing and office properties. The last fiscal year saw a significant deviation in funding structure, with hybrid deals surging to 42 per cent of total PE inflow. Equity and debt investments dropped to 37 per cent and 21 per cent, respectively. Commenting on the report, Binitha Dalal, Founder & Managing Partner, Mt K Kapital, said, "A marginal 3 per cent dip in PE inflows is more a sign of market recalibration than concern. Investors are becoming more selective, focusing on quality assets and structured opportunities that promise long-term value over short-term gains." "India's growth momentum and rising affluence have given momentum to real estate activity, thereby evincing interest from investors. 
 

The city’s retail real estate market recorded a substantial 31 per cent year-on-year growth in leasing activity during the first quarter of 2025, totaling 0.17 million square feet, according to a recent market report. This surge was primarily driven by the fashion segment, which accounted for 37 per cent of total leasing—nearly four times higher than the same period last year.

High Streets Dominate Leasing Activity

High street locations were the core contributors to this growth, making up over 90 per cent of total leasing. The north-western parts of the city led with a 38 per cent share, followed closely by the off-central regions at 37 per cent.

Limited Mall Leasing Due to Supply Constraints

In contrast, mall leasing remained limited, with only 10,000 square feet transacted during the quarter. This was mainly due to insufficient availability of high-quality mall spaces. As a result, the overall mall vacancy rate dipped slightly by 14 basis points quarter-on-quarter to 14.13 per cent, while top-grade malls continued to maintain extremely low vacancy levels of one to two per cent.

Rental Appreciation in Key Retail Corridors

Several high-demand high-street corridors saw rentals increase by three to four per cent quarter-on-quarter. Areas across the city’s major shopping streets and arterial retail corridors experienced noticeable rental appreciation.

National Retail Leasing Trends

Nationally, one southern metro led in leasing volume, contributing 34 per cent (0.8 million square feet) of total activity, with a 106 per cent year-on-year surge. Another western metro followed with a 24 per cent share (0.58 million square feet), posting a 259 per cent year-on-year increase driven by expanding high-street hubs and new mall supply. The national capital region accounted for 17 per cent (0.41 million square feet) of total leasing, supported by strong demand across key submarkets and a 57 per cent year-on-year rise.