The state government has issued detailed guidelines to identify beneficiaries and construct houses for people currently living in huts under a rural housing scheme. An allocation of ?3,500 crore has been made to build one lakh houses.

As per the guidelines issued by the rural development and panchayat raj department, only households with proper ownership documents, legal inheritance, or patta will be eligible. A recent survey identified around eight lakh huts in the state.

Houses located on objectionable poramboke land, huts occupied by tenants, huts used for commercial purposes, huts with RCC or metal sheet roofs, and occupants who own another house elsewhere will not be eligible for the scheme.

Each house will have a minimum plinth area of 300 sq ft, including a living room, kitchen, bedroom, toilet, and tiled roof, along with water and power connections. In grouped areas, the government will also provide supporting infrastructure such as roads, street lights, drinking water facilities, and public toilets. The walls will be painted in a combination of rose blush, camouflage brown, with armour-colored joineries.

An assistance of ?12,000 will be provided under the national sanitation mission to households for constructing toilets in individual habitations.

The scheme, originally launched in 2010, also aligns with national efforts to construct houses for nomadic communities and scheduled tribes. The aim is to eliminate encroachments and ensure all beneficiaries have hygienic living conditions.

A real estate investment trust (REIT) reported a 16% increase in net operating income (NOI) to ?488.5 crore for the quarter ended March and announced a distribution of ?319 crore to unitholders. In the year-ago period, the NOI was ?422 crore.

The distribution for the March quarter, ?319.1 crore (?5.25 per unit), is 10.5% higher than the corresponding quarter of the previous fiscal year. For the full 2024-25 fiscal year, NOI grew 37% to ?1,854 crore from ?1,350 crore in the previous year. Total distributions for the year were ?1,053.7 crore (?19.25 per unit), an 8.5% increase over 2023-24.

The REIT achieved gross leasing of approximately 3 million sq ft, including 2.2 million sq ft of new leases and 0.8 million sq ft of renewals. Over 50% of the leasing occurred in SEZ properties, reflecting steady demand recovery.

The REIT manages 10 Grade A assets across major cities including Delhi, Mumbai, Gurugram, Noida, and Kolkata. Its portfolio includes 29 million sq ft of total leasable area, comprising 24.5 million sq ft of operating area, 0.6 million sq ft under construction, and 3.9 million sq ft of future development potential.

The residential real estate market in the city and its surrounding areas has started 2025 on a positive note, showing strong recovery and rising buyer confidence. A recent industry report highlighted sharp growth in registrations, steady sales of residential units, and a resilient housing market during the January–March 2025 period.

Projects nearing completion or ready-to-occupy continued to be preferred among buyers. Recent reductions in the repo rate by the Reserve Bank of India, along with revised income tax slabs, have further boosted buyer sentiment, particularly among first-time homebuyers.

Sales of residential units grew 7% quarter-on-quarter to 3,783 units, and showed a 27% year-on-year increase. Southern suburbs accounted for the majority of project registrations, driven by improved infrastructure, including the Metro Phase II project.

The report noted that the government's focus on inclusive urban development and new infrastructure investments in suburban corridors is enhancing livability and making homeownership more accessible. This momentum is expected to continue into the next quarter, with infrastructure-led locations attracting renewed interest from investors and end-users.

The city’s residential property market saw a sharp reacovery in the first quarter of 2025, with unit registrations rising 88% quarter-on-quarter to 8,042, according to data released by Confederation of Real Estate Developers  Associations of India (CREDAI) Chennai. The figure also represented an 11% year-on-year increase, signalling sustained momentum in buyer activity. The members of CREDAI were responsible for 92% of total registrations in the quarter. The group registered 7,412 units in Q1, up 17% from a year earlier, according to the data. Sales volumes also improved, increasing by 7% from the previous quarter and 27% compared to Q1 2024, reaching 3,783 units. Buyer preference continued to tilt towards ready-to-occupy or near-completion properties.  Analysts attribute the buoyancy in part to recent monetary and fiscal measures, including a reduction in the Reserve Bank of India’s policy rate and revisions to income tax slabs that have boosted affordability, particularly for first-time buyers. The number of new residential projects registered in Chennai stood at 61, down from 78 in the same period last year. Unsold inventory in completed projects remained stable at 7,872 units, suggesting a relatively balanced supply-demand dynamic.

Akshaya Tritiya proved to be a golden opportunity not just for jewellers but also for Tamil Nadu's real estate sector. On Wednesday, the state registration department recorded a historic high with registration of 27,440 property documents in a single day and generating a record-breaking revenue of Rs 272.87 crore. According to commercial taxes and registration minister P Moorthy, the occasion marked the most lucrative single day in the department's history, surpassing the previous record set on Feb 10, 2025, when 23,421 documents were registered, yielding 237.98 crore. Traditionally celebrated as an auspicious day for buying gold and launching new ventures, Akshaya Tritiya has increasingly become a preferred occasion for property investments. In anticipation of the heightened demand, the department implemented several proactive measures. Based on public feedback, it expanded pre-booking slots across registration offices. Offices with one sub-registrar increased capacity from 100 to 150 slots, while those with two sub-registrars increased slots from 200 to 300. At 100 high-volume offices, regular booking slots were raised from 100 to 150. The number of immediate booking slots was also increased from 12 to 16 to facilitate smoother public access. These steps helped streamline operations and ensured that the surge in footfall on the auspicious day did not disrupt the registration process. Chennai topped the list in the state and South Chennai witnessed more registrations within the city, said an official from the registration department. A Mohammed Ali, president of CREDAI Chennai, said market sentiment remains strong. "Many home buyers prefer registering property on Akshaya Tritiya, and we've seen a rise in enquiries for home purchases on this date. 
 

To curb air pollution caused by construction activities, the city municipal corporation has unveiled a standard operating procedure (SOP) requiring builders to install dust barriers and cover waste sprays to control dust. Violators of these regulations will face fines ranging from ?10,000 to ?5 lakh, depending on the site size and severity of the violation.

The city generates at least 6,150 metric tonnes of solid waste daily, along with around 800 metric tonnes of construction and demolition (C&D) waste. Construction companies are often found handling C&D waste improperly, including transporting it without following proper procedures.

Under the SOP, for project sites up to one acre, 6-metre-high metal or sheet barricades must be installed around the site to prevent dust and debris from spreading. For sites larger than one acre, buildings taller than 70 metres, or all ready-mix concrete (RMC) plants, metal barriers 10 metres high must be installed.

With the issuance of these guidelines, the public has urged authorities to strictly enforce penalties to ensure compliance and minimize dust and waste pollution from construction sites.

A housing finance company reported a 25.3% growth in net consolidated profit for the quarter ended March 31, 2025. Profit after tax stood at ?550.38 crore in Q4 FY25, up from ?439.25 crore in the same quarter of the previous fiscal.

The company’s net consolidated total income rose 12.3% to ?2,036.78 crore, compared to ?1,813.97 crore in Q4 FY24.

The retail loan portfolio grew 18.2% year-on-year to ?74,802 crore, driven by growth in affordable and emerging markets. The affordable segment crossed a significant milestone of ?5,000 crore during the year. Gross NPA improved to 1.08% as of March 31, 2025, from 1.50% a year earlier. Return on Assets (RoA) increased by 35 basis points to 2.55% for FY25.

The loan portfolio grew 16% year-on-year to ?75,765 crore, while assets under management (AUM) rose 13% to ?80,397 crore as of March 31, 2025. The company also recovered ?336 crore from its written-off pool in FY25.

Capital Risk Adequacy Ratio (CRAR) stood at 29.38%. Loan yield was 10.03% in Q4 FY25, compared to 10.08% in Q4 FY24, while the cost of borrowing was 7.84%, compared to 7.98% in the previous year. The spread on loans improved to 2.19%, from 2.10% in Q4 FY24.

The Reserve Bank of India’s new strict guidelines for gold loans have prompted private and nationalised banks, co-operative banks, and non-banking financial companies (NBFCs) to adopt various strategies to comply with the norms, which restrict loan closures within 12 months.

Under the new rules, the maximum tenure for gold loans with monthly instalments has been reduced from 36 months to 12 months, creating challenges for economically vulnerable borrowers. To comply with regulations while maintaining profitability and customer satisfaction, lenders are leveraging alternative strategies.

These strategies include:

• Monthly auto-debit of interest from linked savings accounts

• Technical closures, where loans are temporarily repaid and immediately renewed with fresh documentation

• Closure and re-pledging of loans under a family member’s name by paying only the interest

• Automatic settlement of dues by debiting linked accounts

• Expediting the auction process to minimise defaults after the 12-month tenure ends

Branch managers noted that many borrowers expected to renew loans by paying only interest. Some are now unable to fully repay and may need to borrow elsewhere. In such cases, family members can open basic savings accounts and pledge the jewellery under their names to settle the original borrower’s dues on the same day.

Bank officials stated that these actions are taken in line with RBI norms and in the best interest of customers, helping borrowers avoid overdue payments impacting their credit profiles.

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.