Tamil Nadu deputy chief minister Udhayanidhi Stalin on Wednesday inaugurated 102 completed urban development projects worth 399.81 crore and laid the foundation stone for 108 new projects valued at 975.63 crore at an event held at the Ripon Building in the city. Addressing at the event, Udhayanidhi said, "it is not just everything for everyone, but everything for every town." He added that the DMK's vision for Singara Chennai was first articulated in 1959, when the party won the Chennai corporation elections. He credited former chief minister M Karunanidhi and chief minister M K Stalin for city's sustained growth, by bringing projects like the metro rail and road infrastructure upgrades. Of the 102 completed projects, 31 were implemented by the Greater Chennai Corporation, 2 by the CMWSSB, 35 by the directorate of municipal administration, 31 by Town Panchayats, and 3 by the TWAD Board. Among the 108 new projects announced, 62 will be executed by the Greater Chennai Corporation, including 477 crore for road re-laying and 54 crore for canal improvements. Four projects will be carried out by Metro Water, including underground drainage system (UGDS) works in North Chennai. Another 28 projects fall under the directorate of municipal administration and 14 under the town panchayats. He awarded 7.26 lakh in cash prizes to 62 high-performing Class X and XII students from Chennai Corporation schools, along with 38 teachers and 14 headmasters.

An investment entity has received approval from the national competition regulator for its proposed investment in a real estate development firm through a combination of preferential allotment and secondary share purchase. Earlier in the year, the real estate firm had announced a proposed equity infusion via preferential allotment and secondary share acquisition by an affiliate of the investing entity.

The transaction involves a two-pronged investment structure with a cumulative value of approximately ?1,167 crore. As part of the deal, the real estate firm will issue 1,26,75,685 equity shares on a preferential basis to the investing affiliate. The shares, with a face value of ?10 each, are priced at ?329 per share, amounting to a total infusion of ?417.03 crore.

Following completion, the investing entity will hold 40% of the real estate firm’s equity capital, excluding the open offer. Subject to full acceptance of its open offer for an additional 26% stake from public shareholders, its total holding may rise to 66%.

After the transaction, the promoter group’s shareholding will decline from 59.52% to 33.81%, reflecting significant stake dilution by key members of the promoter family and other associated individuals.

A leading paint manufacturer’s shares are expected to be in focus on Monday after another paint company filed a complaint with the national competition regulator, alleging abuse of dominance, according to industry sources.

The parent company of the complainant reportedly submitted the filing in late 2024, alleging that the dominant market player pressured dealers by threatening reduced credit limits and withdrawal of contracts if they engaged with the complainant. The allegations also include delays in supplies and restrictions on access to tinting machines as coercive measures.

The accused company, which is the country’s largest paint producer, holds over half of the nation’s installed production capacity and operates an extensive distribution network with tens of thousands of dealers across numerous touchpoints.

Sources indicated that the competition regulator is expected to begin a formal investigation soon, with an order to initiate a probe likely in the near future.

Market data shows the average target price for the accused company’s stock suggests a modest potential upside. Analyst sentiment remains largely negative, with a majority issuing a ‘sell’ recommendation.

The stock has fallen significantly over the past one and two years, and the company’s current market valuation stands at a large-cap level.

People looking to invest in property in the region will soon have to pay more, as the district administration is set to revise land circle rates upward. According to officials, benchmark rates for residential properties in prime areas could rise by about 40%, while agricultural land in outer areas may see a 10–30% increase.

The new rates will take effect from Saturday, requiring buyers to pay higher stamp duty. The circle rates had not been revised since 2017. Observing the increased property values recorded in sale deeds, the local administration began revising stamp duty rates last year.

The district, divided into multiple administrative subdivisions, will see substantial increases in the benchmark value of agricultural, non-agricultural, commercial plots, and vacant land. A senior district official stated that after conducting local surveys and reviewing property values mentioned in sale deeds, the revised rates were finalized following public objections and suggestions.

A state-level official said the higher rates will help generate more revenue and benefit farmers and property owners affected by development projects, as the value of land acquired by public agencies and private developers will also rise proportionately. 

A major consumer electronics firm has leased 12,616 sq ft of space in a commercial complex in Mumbai for a minimum monthly rent of Rs 17.35 lakh, according to a real estate data analytics platform.

The analytics platform reviewed the lease agreement of the company, which currently operates two retail outlets in India. The firm has taken the space on lease from a property developer for a term of 10 years and 10 months, with a rent-free period of 10 months.

The starting monthly rent works out to Rs 138 per sq ft, with a minimum payable rent of Rs 17,35,104. The agreement also includes a revenue-sharing clause of 2% per quarter for the first 42 months, increasing to 2.5% per quarter thereafter.

The company opened its first two official retail stores in India in 2023. Later, it announced plans to open four more outlets in major metropolitan cities across the country.

The firm began manufacturing its devices in India in 2017. Recently, government sources indicated that the company’s investment plans in India remain unchanged, and it aims to establish a major production base for its products in the country.

A global technology manufacturer has leased 12,616 sq ft of space in a commercial complex in Mumbai for a minimum monthly rent of Rs 17.35 lakh, according to documents reviewed by a real estate analytics platform.

The analytics platform examined the lease agreement of the firm, which currently operates two retail outlets in India. The company has taken the space on lease from a property developer for a period of 10 years and 10 months, with a rent-free period of 10 months.

The starting monthly rent is Rs 138 per sq ft, with the minimum payable amount set at Rs 17,35,104. The agreement also includes a revenue-sharing component of 2% per quarter for the first 42 months, increasing to 2.5% thereafter.

The firm opened its first two official retail stores in India in 2023 and later announced plans to open four more outlets across major metropolitan cities.

The company began manufacturing its devices in India in 2017. Government sources recently indicated that its investment plans in the country remain unchanged and that it intends to build a significant manufacturing base locally.

A global electronics firm has expanded its presence in Chennai by leasing 1,000 desks at a managed office facility, marking a strategic move to strengthen its operations in the region. The lease spans 42 months and covers a total area of 61,230 sq ft. According to a source familiar with the deal, this development effectively doubles the company’s footprint in Chennai within the managed workspace segment, highlighting its commitment to flexibility and adaptability in a rapidly shifting business environment.

The managed office facility provides the firm with improved access to key markets and talent pools, supporting its broader growth objectives in India. The workspace operator did not respond to queries sent by this publication.

The company’s expansion in Chennai reflects a larger trend of multinational corporations increasingly adopting flexible workspace solutions to optimize operations and encourage innovation.

As of late 2024, the workspace provider operates around 100,000 desks across multiple locations in major Indian cities. Several global enterprises from diverse sectors are among its existing clients.

Chief minister Devendra Fadnavis on Tuesday said Maharashtra is set to provide 30 lakh houses to homeless people under the Pradhan Mantri Awas scheme and become the first state in India to achieve 100% of the target. He also said a fresh survey would be carried out to identify homeless people who are yet to benefit. The CM was speaking at a PM Awas Yojana award function in Pune with Union minister Shivraj Singh Chouhan as the chief guest. Deputy CM Ajit Pawar was also present at the event. Fadnavis said, "The central govt considered the socio-economic survey of 2011 to identify homeless people when the scheme was launched. Meanwhile, the state govt has expedited the process to provide necessary permissions for houses sanctioned by the Centre to the 30 lakh people. "Maharashtra will become the first state in the country to achieve 100% target under the PM Awas scheme. During his speech, Chouhan told the state govt to do yet another survey to zero in on more homeless people. "The Centre has sanctioned houses to all homeless people in Maharashtra as per the 2018 survey. However, I urge the state to conduct a fresh one to see if anyone falling under the category has been left out. If the state provides a fresh list, we will sanction it too."
 

A digital services firm has leased nearly 59,000 sq ft of office space across three floors of a commercial tower in Mumbai’s Lower Parel for a five-year term. The tenant will pay monthly rentals of around Rs 1.05 crore along with common area maintenance charges of Rs 12.32 lakh, bringing the total monthly outgo to approximately Rs 1.18 crore. The agreement also includes a 5% annual escalation in rent.

The firm will receive a rent-free period from February 1 to July 15, 2025, with license fees becoming payable from July 16, according to documents accessed through a real estate data platform.

The tenant has paid a security deposit of Rs 7.07 crore for the transaction. The deal includes 49 parking spaces, with additional slots available at Rs 10,000 per month each. Queries sent to both the tenant and property owner remained unanswered at the time of reporting.

Office leasing activity in India has shown resilience in 2025, supported by strong demand from global operations centers, resulting in sustained interest in major business districts across the country.

Metrowater is finally set to roll out smart water meters for its consumers, with preparations underway to issue the work order that will allow the selected contractor to begin installations for the long-pending project. In the first phase, one lakh smart meters will be installed, targeting houses and flats measuring more than 2,500 square feet. Other consumers will gradually be brought under the system in subsequent phases. Currently, Metrowater operates with 1,200 mechanised meters, which present practical difficulties in reading data—especially when property owners are away from home for extended periods. This has created two major challenges: unquantified water usage in large complexes and significant revenue losses due to undercharging. Both issues are expected to be addressed with the implementation of smart meters, which will provide precise consumption data. Smart meters will bring multiple benefits including improved equity and adequacy in water distribution across the city. The initiative is part of a broader strategy to modernise infrastructure and improve public utility services. Officials are optimistic that the move will not only streamline operations but also promote also promote better conservation and sustainable use of water resources over time. Chennai Metrowater currently supplies around 1,100 million litres of water daily too its consumers, up from 1,011 millions liters on the same day last year, according to available data. 
 

Two new flyovers are set to be constructed to ease bottlenecks on Old Mahabalipuram Road (Oand allow free turns from Velachery. The unidirectional flyover at SRP Tools Junction and Perungudi will improve connectivity for motorists travelling from Velachery towards Thiruvanmiyur , Thoraipakkam, and Sholinganallur. The 90-crore projects will run parallel to the ongoing Metro Rail construction on Corridor 3 (Madhavaram-Siruseri). The first flyover at SRP Tools Junction will be 760m long with two sharp 90-degree turns — a double-bent design. Motorists from Velachery can use a ramp to turn left, then right, and descend near LB Road in Thiruvanmiyur, bypassing signals. This will also offer Thoraipakkam-bound vehicles a signal-free right turn. The flyover will have two lanes and will run above ground, while metro rail track remains underground at this location, said T Archunan, Director (Projects), CMRL. This flyover will be built beneath the elevated metro rail viaduct, making construction more complex due to limited space on MGR and the need to land the ramp on the left side of OMR without disrupting straight moving traffice. CMRL officials say construction will begin after finalising bids. Since no land adquistion is required chokepoint. CMRL officials say construction will begin after finalising bids. Since no land acquisition is required, work can begin quickly. Final designs were prepared in consultation with traffice police. 

A real estate developer has reported a net consolidated profit after tax of ?43.10 crore for the quarter ended March 31, 2025. The profit in the corresponding quarter of the previous financial year was ?235.90 crore, according to a stock exchange filing.

The developer’s net consolidated total income stood at ?1,589.30 crore in Q4 FY25, marking a 28.81% decline from ?2,232.50 crore recorded in the same period last year.

The board of directors has recommended a final dividend of 18% (?1.8 per share) on the equity shares for the financial year ending March 31, 2025. It has also approved the issuance of non-convertible debentures amounting to up to ?2,000 crore on a private placement basis.

As of March 31, 2025, the developer’s net debt stood at ?6,716.50 crore, with a debt-to-equity ratio of 0.42 and an average cost of debt of 10.32%.

The company has entered into a framework agreement with partners for jointly developing a commercial project on land measuring 21,978.22 sq meters in Mumbai, through the creation of a special purpose vehicle (SPV).

In addition, the firm has launched a plotted development project in Bengaluru, spread over 47 acres. The project includes 516 plots, with a total development area exceeding one million sq ft and a revenue potential of over ?800 crore.