An anti-corruption NGO has accused several state government departments of illegally granting approvals for a ?2,000-crore housing project allegedly planned within the ecologically sensitive wetland in a suburban area. In a complaint submitted to the Chief Minister, Chief Secretary, and the Directorate of Vigilance and Anti-Corruption (DVAC), the NGO alleged that the State Environment Impact Assessment Authority (SEIAA) and the metropolitan development authority had issued environmental clearance and construction approval for specific survey numbers, which the NGO claims fall within the wetland area. The organisation said it has attached a 213-page annexure of evidence to support its claims.

Citing official maps of the protected site and the metropolitan authority’s influence zone, the NGO stated that the survey numbers cover 14.7 acres within the wetland boundaries, which were notified in 2022. Despite this, the developer behind the project applied to SEIAA for environmental clearance in August 2023 and to the metropolitan authority for construction plan approval in February 2024, proposing 1,250 dwelling units. The NGO accused the developer of falsely claiming that the project site was 1.2 km away from the wetland, whereas in reality, it is adjacent to a survey number recorded as part of the wetland in government records.

While SEIAA granted permission for an Environmental Impact Assessment (EIA) and sought further details — including the project’s exact boundary coordinates in relation to the wetland — the developer reportedly asked forest officials for clarification. Following an inspection, the Forest Department stated that the site was 65 metres from the wetland, with a “revenue land parcel” in between. However, the NGO noted that the survey number of this intervening parcel was not disclosed, calling it a sign of possible irregularities.

The NGO further cited historical land records, stating that in the 1911 resettlement register, the last survey number was 445. A survey number corresponding to the wetland was later subdivided to create new numbers, facilitating the conversion of wetland into revenue plots. The total area under this survey number, once 643.9 acres in 1911, had shrunk to just 6.1 acres by 1993. Today, only 50 acres are officially marked as wetland.

According to the Wetlands (Conservation and Management) Rules, 2017, wetlands cannot be converted for non-wetland use, and permanent construction is strictly prohibited. A convenor of the NGO stated that the wetland is designated as a protected area. "This is a clear case of collusion," they said. Repeated attempts to contact the relevant officials for comment were unsuccessful. A spokesperson for the developer said, “This is a joint development project with the landowner. The land is privately held.”

Salaries across India are expected to grow by 9% in 2026, with the real estate and non-banking financial companies (NBFC) sectors driving much of this growth, according to a new report by a global professional services firm. The real estate and infrastructure sector is projected to record one of the strongest pay hikes—10.9% in 2026, up from 10.5% in 2025. This continued momentum is supported by government-led capital investments, rising real estate activity in both commercial and residential markets, and greater institutional participation.

Policy reforms and infrastructure spending have significantly improved hiring sentiment. Real estate and NBFCs are leading in talent investments, as organizations adjust pay strategies to maintain growth and workforce stability. Among financial institutions, NBFCs are expected to see the largest average salary increase at 10%, followed by asset management firms (9.5%) and banks (8.6%). Other industries such as retail (9.6%), life sciences (9.6%), and engineering design services (9.7%) are also forecast to experience robust pay growth.

In contrast, technology consulting and services remain conservative, with projected salary hikes of only 6.8%, as companies emphasize efficiency and cost control amid global challenges. India’s employee attrition rate has dropped to 17.1% in 2025, the lowest in five years, compared to 17.7% in 2024 and 18.7% in 2023. However, involuntary exits have risen slightly to 4.6%, reflecting a focus on performance-based restructuring and workforce optimization.

Organizations are increasingly shifting from “just-in-time” to “just-in-case” workforce planning to improve resilience against supply chain and trade disruptions. The integration of AI and automation is further reshaping roles and helping reduce long-term labor costs. The report expects organized sectors—especially real estate and financial services—to continue outperforming the broader market in terms of salary growth. With better retention, stable inflation, and targeted rewards, employers appear to be moving from aggressive hiring to strategic workforce consolidation, ensuring sustained productivity and profitability in FY26 and beyond.

A housing finance company registered an 18.89% growth in net profit for the quarter ended September 30, 2025, compared to the same period last year. The company reported a profit after tax (PAT) of ?X crore, reflecting strong financial performance despite market challenges. The company’s total income for Q2 FY26 stood at ?X crore, showing a solid year-on-year increase, driven by improved loan disbursements and a healthy increase in assets under management.

The company’s loan portfolio saw significant growth during the quarter, with an increase in both retail and affordable housing loans, in line with the government's focus on promoting homeownership. The company's cost of funds remained stable, while the non-performing assets (NPAs) continued to stay under control, reflecting its strong asset quality management.

The company also saw an uptick in disbursements, particularly in the affordable housing segment, with a notable increase in new home loan applications. The management expressed confidence in maintaining the growth trajectory for the remainder of FY26, supported by a strong pipeline of new projects and increased demand in key market segments.

Here’s a rephrased version of the text that conveys the same meaning:The Madras High Court has clarified that Sub-registrars have the authority to reject the registration of a plot as a house site unless it has received approval from the planning authorities, as required under the Registration Act. A division bench consisting  made this ruling while allowing an appeal filed by the Sub-Registrar of Salem West, who had challenged a single judge's decision from July 1, 2024. The single judge's order had set aside the Sub-Registrar’s refusal to register the plot. The issue  filed a petition against the Sub-Registrar's decision to reject the registration of a settlement deed for a 3,508-square-foot plot in 2021. The rejection was based on the lack of approval for the plot to be used as a house site, as stipulated under Section 22A of the Registration Act. In response, the single judge ruled in favor of Rajamanickam, directing that the plot be registered as a house site, given that surrounding plots had been registered in the same manner. Dissatisfied with the ruling, the Sub-Registrar appealed. In its decision, the bench referenced Section 22A(2) of the Registration Act, emphasizing that the registering authority has the discretion to deny registration of any instrument transferring land ownership if the land is designated as a house site without the proper clearance from the planning authority. The bench noted that the settlement deed presented for registration did not include approval from the planning authority for the plot in question. According to the law, if a plot has not previously been registered as a house site, it cannot be registered as one without the appropriate approval. However, if it has been previously registered as a house site, it may be re-registered accordingly.

The Tamil Nadu government has amended the Tamil Nadu Combined Development and Building Rules, 2019, easing the parking space requirements for large new homes. According to the amendment issued on October 10, homes built on plots measuring 3,200 sq ft (or 300 sq m) and above must now provide parking space for at least four cars and four two-wheelers. This updated rule applies to residential buildings in corporations, municipalities, and town panchayats. For smaller plots, the earlier rule remains unchanged—homeowners must still allocate space for two cars and two two-wheelers. The Builders Association of India said the change effectively increases the usable Floor Space Index (FSI)—which means builders now have more flexibility in how they use the total buildable area. FSI defines how much floor area can be constructed on a plot relative to its size. Previously, parking spaces, staircases, and other service areas were excluded from the buildable limit. Under the 2019 rules, one car parking space was needed for every 75 sq m of built-up area. So, a 5,000 sq ft house needed five car parking spaces, which often reduced the usable living area. With the relaxed rule, builders can now reclaim some of that space for additional rooms or other living features. However, some urban planners have raised concerns. A city planner, warned that the reduced parking requirements could lead to more vehicles being parked on the streets, worsening traffic and reducing public space. Many residents already park extra or unused vehicles on the roads, and this change could increase that problem.

The government announced on Tuesday that limestone will now be fully classified as a major mineral, removing earlier distinctions based on its use. This change is expected to improve the ease of doing business by allowing leaseholders to mine, sell, or use limestone without restrictions based on its end use. Previously, limestone was treated as both a minor and major mineral depending on how it was used. If used to make lime for building materials in kilns, it was classified as a minor mineral, but if used for making cement, fertilizers, chemicals, sugar, or steel, it was considered a major mineral.

To ensure a smooth transition, the Ministry of Mines issued an order on October 13, 2025, stating that all current minor mineral leases for limestone will now be treated as major mineral leases, without disruption. This decision followed recommendations from an inter-ministerial committee, which consulted with industry stakeholders. The change addresses the declining availability of limestone for lime-making, as most limestone is now used by industries like cement and chemicals.

By removing limestone from the minor minerals list, the government has met a long-standing demand from leaseholders, who can now freely sell limestone to cement and other industries. This move is expected to boost construction activity, create jobs, and support economic growth.

On October 6, it was announced that the NHB will extend PCE to secured non-convertible debentures (NCDs) issued by these companies. The objective is also to help HFCs diversify their funding sources and reduce their over-reliance on traditional funding methods. The facility will be available to non-deposit-taking HFCs with an asset base of at least ?1,000 crore, provided they have a credit rating of 'A+' from two rating agencies. Furthermore, these companies must maintain gross and net non-performing assets below 2.5% and 1.5%, respectively, to qualify.

To attract investors at competitive rates, the bonds issued by HFCs must carry sufficiently high credit ratings. Many HFCs are unable to issue bonds due to lower ratings from credit agencies, often because of a mismatch between their assets and liabilities. A basis point refers to one-hundredth of a percentage point.

The PCE will cover up to 50% of the bond issue size, with a minimum issue size of ?50 crore. The bonds will have a tenure of 3 to 5 years, and the proceeds must only be used to refinance existing debt. HFCs are required to submit a certificate from a statutory auditor within seven days of receiving the funds. The PCE, which will be provided as an irrevocable contingent line of credit, is expected to improve the external credit ratings of the bonds, allowing HFCs to raise funds at more favorable rates.

The State Industries Promotion Corporation of Tamil Nadu (SIPCOT) has floated a ?89.9-crore tender for the development of essential infrastructure — including roads, stormwater drains, culverts, water supply, and sanitation — as part of the Knowledge City project planned in Tiruvallur. Announced in the 2022–23 state budget, the project is being developed in phases. Recently, the Tamil Nadu Industrial Development Corporation (TIDCO) invited consultancy bids for the first phase, which includes constructing a Knowledge Tower on 12.65 acres. This facility will house R&D labs, tech firms, and research institutions. SIPCOT  the current tender focuses on infrastructure development in the Sengathakulam area of Tiruvallur district, a key part of the upcoming Knowledge City. The tender submission deadline is October 30. In addition to core infrastructure, the plan includes building bus shelters, parks, and other modern amenities. Construction will begin once the contractor is selected, with visible development expected within seven to eight months. Meanwhile, TIDCO is finalizing documents for a public-private partnership (PPP) model and is in discussions with several universities. During a recent visit to Germany.  The government believes that attracting international institutions to Tamil Nadu will help reduce the outflow of Indian students seeking higher education abroad. While the initiative is commendable, greater emphasis on bringing in top Indian universities could enhance domestic education standards and contribute more significantly to the country's academic ecosystem.

When metro train services begin along the OMR stretch, the stations will also function as compact commercial hubs, featuring eateries, clothing stores, and other retail outlets designed to serve both commuters and local residents. A contract has been awarded for the design and civil construction of entry and exit points, which will include commercial facilities at nine elevated stations on the 45.8 km-long Corridor 3 — linking Madhavaram to the IT Park in Siruseri. The project, valued at ?250.47 crore, includes the construction of up to three floors of commercial space at stations in Nehru Nagar, Kandanchavadi, Perungudi, Thoraipakkam, Mettukuppam, PTC Colony, Okkiyampet, Karapakkam, and Okkiyam Thoraipakkam.

"Initially, the station designs were kept simple, but they have now been adapted for transit-oriented development to improve commuter convenience and generate additional revenue," said an official. The commercial areas will be leased out to vendors and businesses, the official added.

Unlike the larger commercial complexes planned at other stations, such as Mandaveli on Corridor 3 and Thirumangalam on Corridor 5, the facilities along OMR will be more compact. At Mandaveli, for instance, the station’s entry and exit points will be located within the existing bus terminus, which will include two multi-storey structures. Meanwhile, in Sholinganallur, an eight-storey building is planned at the junction where Corridors 3 and 5 intersect.

Corridor 3, part of the metro network’s Phase 2, is set to include 28 underground and 19 elevated stations, with construction currently underway at various stages across the route. The entire corridor is expected to be completed by next year.

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.