Odisha government launches survey to select beneficiaries under PMAY Gramin

Setting a target to provide 'pucca' houses to all in the state, the Odisha government on Friday launched a survey for selecting the beneficiaries under the Pradhan Mantri Awas Yojana- Gramin (PMAY-G). Accompanied by Puri MP Sambit Patra, Panchayati Raj and Drinking Water Minister Rabi Narayan Naik formally launched the survey work from Arjunsinghpur village in Puri district's Pipili block. The survey will continue for about two months. It will include all the eligible families as per the promises made by Prime Minister Narendra Modi to provide 'pucca' houses to all, the minister said. The Odisha government today began a survey under the PMAY-G from the land of Lord Jagannath. All the eligible persons will get their desired It is painful to see that the poorest of the poor families were denied a PMAY house unit during the previous BJD government," the minister said. People can apply for a housing unit under the scheme through both online and offline modes, the minister. Families with two-wheelers, refrigerators, and landline phones can also be included in the survey. The family income limit has been increased to Rs 15,000 per month, Naik said, adding that the eligibility criteria for availing the benefits under the scheme have been relaxed. This apart, individuals who are separated from their families, like father and son or husband and wife, can also be accommodated in the survey. The people who had applied earlier and are still waiting for allotment of houses, can also apply again. He then that 28.25 lakh households have been approved under the scheme, while around 23 lakh homes have been constructed. If any eligible household is left out during the survey for PMAY-G, it will be included in the Antyodaya Gruha Yojana The Union cabinet, in August 2024, approved the construction of two crore houses under PMAY-Gramin over the next five years, till 2029. Under the scheme, the assistance is shared between the Centre and the state.
 

A major housing finance lender reported a 42.79% rise in its net consolidated profit for the quarter ended December 31, 2025. The profit after tax stood at ?483.27 crore in Q3 FY25, compared to ?338.44 crore in the same quarter of the previous fiscal, according to its regulatory filing.

The lender’s net consolidated total income rose to ?1,943.11 crore in Q3 FY25, marking a 10.66% increase from ?1,756 crore recorded in the corresponding period last year.

According to the company, the affordable housing segment performed strongly, delivering a robust 127% year-on-year growth in disbursements to ?920 crore during the quarter. Asset quality also continued to improve, with Gross NPA declining to 1.19% as of December 31, 2024.

The lender received a refinance sanction of ?5,000 crore and an external commercial borrowing (ECB) sanction of USD 100 million during the quarter.

Retail disbursements grew 31% year-on-year to ?5,380 crore in Q3 FY25, with the affordable and emerging market segments contributing 38% of total retail disbursements.

Gross NPA dropped by 54 bps to 1.19% as of December 31, 2024, compared to 1.73% a year earlier. The cost of borrowing stood at 7.83%, spread on loans at 2.29%, and yield at 10.12% in Q3 FY25.

Overall disbursements increased 29.9% year-on-year to ?5,380 crore, while loan assets grew 15.4% and assets under management (AUM) rose 12.1% during the quarter.

Several prominent developers have emerged as the highest bidders in a major commercial land auction conducted by the Noida authority, with the combined value of the winning bids exceeding ?1,500 crore.

According to the Noida authority, the largest plot measuring 41,835 sq. metres was awarded for over ?700 crore. This parcel also includes a provision for 40% residential development.

Another developer secured a 23,570 sq. metre plot for over ?400 crore.
A separate 24,000 sq. metre land parcel was auctioned for ?400 crore to another bidder.
Additionally, a smaller 812 sq. metre plot received a successful bid from another participant.

All the land parcels are designated for commercial development and are expected to accommodate upcoming retail and office complexes.

An alternatives-focused asset management venture, in collaboration with a global real estate services provider, has raised about ?1,700 crore in the first close of its maiden real estate fund. The capital has been secured from domestic investors, including high–net-worth individuals and family offices, and will be deployed in India’s commercial real estate sector—a space traditionally dominated by international institutional investors.

The new office-focused fund will target Grade A commercial properties across India’s six major markets: Mumbai, Bengaluru, the National Capital Region, Pune, Chennai, and Hyderabad. These cities collectively contribute more than 70% of the country’s annual office leasing activity.

Classified as a Category-II Alternative Investment Fund (AIF) with a six-year tenure, the fund is expected to facilitate investments in office assets worth over ?6,000 crore through project-specific leverage. The entire corpus is planned to be deployed within the next two years, with an overall portfolio target of 5–7 million sq. ft. across multiple cities.

Investor appetite for Indian commercial real estate remains strong, supported by sustained demand for office space and the country’s steady economic growth.

In addition to prominent domestic investors, several global institutions have historically shown interest in this segment, further strengthening India’s commercial property market.

A newly formed industrial and logistics platform has acquired 50 acres of land in Chennai’s Mannur locality, marking one of the first major land deals of the year. The platform plans to develop a greenfield industrial and logistics project spread across 1.2 million sq. ft., backed by an investment of over ?400 crore. Located three kilometres from State Highway 50, the project aims to meet the rising demand for modern industrial and logistics infrastructure in the region.

The platform has also taken over the management of recently acquired industrial assets totalling 3.36 million sq. ft. in Ranjangaon near Pune and Sri City near Chennai. With the addition of the Mannur site, the total managed portfolio now stands at 4.8 million sq. ft. since its establishment in 2024.

The investment group backing the platform operates in partnership with a global real estate investor and has been active in industrial and logistics development across India. Its logistics arm is among the fastest-growing players in the country, managing a nationwide portfolio of around 13 million sq. ft., making it one of the largest in the sector.

Strategically located within Tamil Nadu’s expanding industrial ecosystem, the newly acquired Mannur site offers connectivity to major industrial corridors and manufacturing hubs. The project is designed to support sectors such as e-commerce, third-party logistics, and light manufacturing, contributing to the strengthening of the region’s supply chain network.

Mumbai’s office property market has recorded the highest-ever lease rental in the country. A major multinational technology firm has leased 6,526 sq. ft. of office space in the Bandra Kurla Complex (BKC) at a monthly rate of ?738 per sq. ft., surpassing the previous benchmark of ?700 per sq. ft.

The leased space, located on the 10th floor of a premium commercial tower, also includes an open terrace of 2,126 sq. ft. When the terrace is factored at one-third of the usual rate, the effective rental works out to ?666 per sq. ft., making it one of the most expensive office lease deals in India. The lease was registered in December, with the agreement starting on January 1.

In 2024, India’s top office markets saw a 23% growth in total gross leasing, reaching 77.22 million sq. ft., while total net absorption increased by 18% to 49.56 million sq. ft. The Indian office sector has become an important destination for global companies expanding their workforce and real estate footprint, highlighted by record net absorption during the year.

The multinational firm has increased its focus on India, recognizing its potential as one of the fastest-growing economies and a key consumer market. The company is also investing in local manufacturing and assembly, aligning with national initiatives to promote domestic production while reducing import costs and enhancing competitiveness.

A senior industry official has suggested that the government reduce the Goods and Services Tax (GST) on cement from 28% to 18% and introduce supportive policy measures in the upcoming Budget to increase the consumption of this critical building material.

The official highlighted the need to expand cement manufacturing capacity in India to meet rising demand, which is expected to grow at an average annual rate of 7–8%.

He noted that lowering the GST has been a long-standing industry wish and emphasized that cement plays a key role in national growth. Cement concrete roads, he added, have greater longevity and are more cost-effective in the long run compared to bitumen roads.

The official also pointed out that as demand for cement improves, prices are likely to follow suit, further strengthening the market.

Sell flats of buyers in Amrapali project not Turing up for  for possession SC

Saying bookings will be cancelled and flats will be sold to other buyers, the Supreme Court on Thursday took a dim view on home buyers not turning up to take possession of flats in the Amrapali projects, being completed by the state-owned NBCC. A bench of Justices Bela M Trivedi and Satish Chandra Sharma asked attorney general R Venkataramani, who was appointed a court receiver in the case, to furnish the latest status report of unsold assets or where the home buyers did not turn up despite efforts to reach out to them. We will request the court receiver to file a latest report where possession has not been taken over by the home buyers despite efforts by him and the NBCC. Senior advocate Ravinder Kumar, appearing for the Noida and Greater Noida authority informed the bench that Greater Noida authority had granted its approval for construction of additional flats in Gold Home Project and with regard to other five projects, there was need for some compliances to be made by the NBCC. The bench noted the submission of senior advocate Siddharth Dave, appearing for the NBCC, saying the compliance was regarding uploading of the map in a portal, which was done for the four projects - Centurion Park, Leisure Valley, Leisure Park and Dream Valley. The bench directed the Greater Noida authority to grant approval for the remaining four projects The top court, which is trying to bring in funds for the stalled projects, appointed a court receiver as custodian of the properties of Amrapali group.