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.

The monthly Pragati meeting on Wednesday turned out to be a reality check for real estate regulators (Reras) with PM Narendra Modi asking probing questions to top state officials, including if they have ever tried to find out whether homebuyers are satisfied with the “disposal” of complaints. Modi also pointed out how just totting-up redressal numbers wasn’t enough. The PM directed all state chief secretaries to hold regular reviews and ensure that there is “complete redressal” of homebuyers’ grievances. Sources said to the discomfort of officials, the PM, while reviewing “issues related to Reras”, said realtors send complaints to him how some Rera officers do not listen to them until “arrangements (vyavastha)” are made. He instructed the chief secretaries to look into this serious issue. In a statement, the PMO said Modi emphasised on the need to improve quality and timeliness of disposal of grievances related to the real estate sector to ensure justice and fairness for homebuyers. “The PM emphasised that strict compliance with Rera provisions is critical for restoring trust in the housing market. Cabinet secretary briefs on actions taken after last Pragati meeting TOI has learnt that Cabinet Secretary T V Somanathan on Wednesday gave an update on the actions taken after the last Pragati meeting in which the PM had issued directions. Sources said a large share of complaints identified were no supply of water even after laying of pipelines, homes still waiting for getting taps within premises, and bad quality water. They added that Somanthan also told the PM that a module on land acquisition is being prepared to train new recruit civil servants and also to improve land records in border areas in Arunachal Pradesh.
 

The Bruhat Bengaluru Mahanagara Palike (BBMP) is preparing to issue notices to over four lakh property owners who are suspected of evading property tax by furnishing incorrect details about their properties. This action follows a detailed analysis based on data from the Digitally Owned Number (DON) Survey. Despite there being more than 20 lakh properties within BBMP limits, the civic body is currently collecting just under Rs 5,000 crore annually in property tax—far below potential collections. Officials have observed that a significant number of property owners have exploited the self-declaration system, underreporting property size to reduce their tax liability. An official said, “To counter this, BBMP’s revenue department has now turned to data collected from the Drone survey and UPR (Urban Property Ownership Records), which cover details of around 15 lakh properties. In addition, BBMP has collected GPS-based photos and data for each property. These are being matched with ownership records and supporting documents, including those submitted for e-Khata registration, to identify discrepancies. If mismatches are found—such as undeclared floor space or incorrect height and number of floors—property owners will receive formal notices.” 
 

A major cement manufacturer said on Thursday that it expects improving cement prices in its key southern market, after reporting a sharp decline in fourth-quarter profit caused by weak prices and lower volumes during what is typically a strong season.

Adjusted net profit from its cement operations dropped more than 76% to ?384.3 crore. The company stated that cement prices have begun to improve and are likely to remain stable despite the rising pace of capacity additions in the region.

The southern market, which contributes nearly three-fourths of the manufacturer’s total volumes, has trailed other parts of the country in pricing growth for several quarters but is now showing signs of recovery, according to recent market assessments. This trend is expected to benefit both region-focused producers and larger pan-India companies that have executed multiple capacity expansion deals.

The manufacturer also reported a 4% decline in sales volumes for the quarter—normally a seasonally strong period due to favorable weather that boosts construction activity and cement demand.

Average cement prices across India were 2% lower year-on-year during the quarter, according to industry data, contributing to a revenue decline of more than 10%, far steeper than analysts’ average estimate of a 0.4% drop.

The company further noted that a recent levy imposed by a southern state on limestone mining—an essential input for cement—will increase production costs by ?200 per ton. The levy, said to be the highest in the country, has prompted cement producers in the state, through an industry association, to seek relief from the government, which is currently considering the request.

India’s top six cities have recorded an average rental growth of 18.35% between 2022 and 2025 for office spaces, according to Anarock data. Mumbai Metropolitan Region (MMR) office rental values have surged by 28% from ?131 per sq ft in 2022 to ?168 in 2025, outpacing other top metro markets. Hyderabad emerged as the second-fastest growing rental market boosted by a strong IT corridor, cost competitiveness, and investor-friendly policies. The post-pandemic revival, supported by a sustained return-to-office movement and strong demand from Global Capability Centres (GCCs), tech firms, and BFSI players, has fueled robust growth in rental values across key business hubs. “Notably the US, which is seeing considerable business policy uncertainty, accounts for 45% of total office space leasing in India ahead of all other countries,” says Peush Jain, MD - Commercial Leasing & Advisory, Anarock Group. GCCs have become the single-biggest transformation driver on India’s office leasing landscape. Our data shows that in Q1 2025 alone, GCCs leased a staggering 8.35 million sq ft, with Delhi-NCR capturing close to 23% of that demand. Over the past two years, they have accounted for over 37% of all office leasing across the top seven cities. 

Rental growth across six cities (2022–2025)

MMR: Office rental values in the Mumbai Metropolitan Region rose 28%, from 131 to 168 per sq ft,making it the most expensive commerical market in India. 

Hyderabad: Rentals surged by 24.1%, climbing from ?59 to ?72 per sqft driven by a booming IT corridor and pro-investor policies.

Delhi NCR: The region saw a 20% increase in rentals, from ?92 to 110per sq ft, supported by infrastructure growth in Noida and Gurugram.

Bengaluru: Office rents grew 15.8%, with values rising from ?101 to ?117 per sq ft, fuelled by consistent tech sector demand.

Pune: Rentals rose 11.1%, from ?81 to ?90 per sq ft, reflecting steady demand in IT and industrial zones.

Chennai: The city registered a more measured 9.1% growth, with rentals moving from ?77 to ?84 per sq ft, indicating stable absorption in key business districts. The consistent rise in rentals, particularly in cities with controlled capital value growth like Hyderabad and Delhi NCR, has led to improved rental yields. With REITs gaining investor traction and absorption levels surpassing pre-COVID benchmarks, investor sentiment remains bullish.
 

housing finance subsidiary of a non-banking financial company has received regulatory approval for its acquisition and change in control by another entity.

The proposed transaction is valued at ?267 crore for the purchase of 100% equity in the housing finance arm. The decision to sell the entire stake was made in October 2024, after which an application was submitted to the regulator for approval of the acquisition and change in management.

According to a statement from the company’s management, the organisation is undergoing strategic restructuring with an emphasis on strengthening its core lending operations. The sale is expected to help redirect resources toward business segments with better growth prospects and long-term value creation.

For the financial year 2024–25, the housing finance subsidiary recorded total income of ?74.55 crore and a profit after tax of ?2.78 crore. Its assets under management stood at ?490.03 crore.