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. 

Prestige Estates Projects has reported net consolidated profit after tax of ?43.10 crore during the quarter ended March 31, 2025. Its profit stood at ?235.90 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at ?1,589.30 crore in Q4 FY25, a dip of 28.81 per cent from ?2,232.50 crore it recorded in the similar quarter last year. The board of directors recommended payment of final dividend @18 % (?1.8 per share) on the equity shares of the company for the year ended March 31, 2025. The board also approved issuance of non-convertible debentures for an aggregate amount up to ?2,000 crore on private placement basis. As on March 31, 2025, its net debt stands at ?6,716.50 crore, debt to equity ratio was 0.42 and average cost of debt was 10.32 per cent. The company has entered into a framework agreement with Valor Estate (Valor) and its wholly owned subsidiaries i.e., Esteem Properties and Advent Hotels International, for jointly developing a project on lands admeasuring in the aggregate 21,978.22 sq meters in Andheri East, Mumbai for commercial use by forming a special purpose vehicle (SPV). The company has also launched a plotted development - Prestige Gardenia Estates in Devanahalli, Bengaluru. Spread over 47 acres, the project comprises of 516 plots and has a total development area of over one million sq ft with 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.” 
 

Ramco Cements said on Thursday it sees improving cement prices in its key south India market, after reporting a fourth-quarter profit slump hurt by lackluster prices and lower volumes in a seasonally strong period. Adjusted net profit from the cement business sank over 76% to 384.3 cement prices have improved... the company believes the prices would sustain amid rising pace of cement capacity additions (in the region). South India, which gives Ramco three-fourths of its total volumes, has lagged other regions of the country in terms of pricing growth for many quarters but is now climbing out of that lull, Jefferies said earlier this month. That is set to benefit companies like Ramco and Dalmia Bharat - which are heavily-focussed in the south - and also other big players like UltraTech and Ambuja who have struck back-to-back capacity expansion deals in the market. Ramco said its sales volumes fell 4% in the reported quarter - usually seasonally strong as favorable weather spurs construction activities and drives cement demand. Meanwhile, average all-India cement prices were also 2% lower on-year for the reported quarter, Ambit Capital's data showed.  That pushed revenues down by over 10%, much bigger than the 0.4% fall estimated by analysts on an average. Ramco also said that Tamil Nadu state's recent levy on mining limestone - from which cement is made - would increase the per ton cost of production by 200 rupees. The levy "is the highest in the country... the cement manufacturers in Tamil Nadu, through industry association, have represented to the government seeking relief, which is under consideration the company. 
 

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.
 

Capital India Home Loans (CIHL), the material subsidiary of Capital India Finance (CIFL), a non-banking financial company (NBFC), has received approval from Reserve Bank of India (RBI) for its acquisition and change in control to Weaver Services. The proposed transaction is valued at ?267 crore, for 100% equity shares of CIHL. In October 2024, it was decided to sell its 100% stake in company’s material subsidiary. Subsequently, an application by CIHL was filed with RBI for its approval in relation to acquisition and change in control of CIHL by Weaver Services. “Capital India Finance is currently in a phase of strategic consolidation, with a clear focus on strengthening its core lending business. This transaction will enable us to reallocate resources towards areas with greater potential for growth and long-term value creation for all stakeholders," said Keshav Porwal, managing director, Capital India Finance. Capital India Home Loans' total income was ?74.55 crore and profit after tax (PAT) stood at ?2.78 crore in FY25. The company has an assets under management (AUM) of ?490.03 crore.
 

The timely implementation of master plans for all 135 major cities and towns across Tamil Nadu can offer a boost to the State’s ambitions to get to a $1-trillion economy by 2030, the top official of the real estate industry body said on Wednesday. The absence of a comprehensive master plan impacts investors’ clarity about where cities are expected to grow and thus, also slows down the pace of the capital flow and investor interest, WS Habib, President, CREDAI (Confederation of Real Estate Developers’ Associations of India) Tamil Nadu, Chairman and Managing Director of RWD CREDAI, told media persons. A Master Plan helps in an organised growth of the State, helps unlock land value and drives planned urbanisation, thereby boosting real estate potential, he added. “We are engaging with the government in preparation of the plan, but there is a need to speed it up.  CREDAI Tamil Nadu, emphasised that residential developers, who cater to first-time home-buyers, are under considerable pressure due to sharp increases in material costs, up to 30-40 per cent. “Approximately 20 per cent of the cost is also taxes to the government, and this has made home buying unaffordable for first-time buyers,” Swaminathan added. CREDAI officials stressed on the key contribution of the sector to the State’s GDP and called for more consistent industry representation and collaboration with authorities. The association said it is also pushing for Tamil Nadu’s real estate sector to become globally competitive, aligning with international standards and urban strategies, as seen in models like South Korea. In a move to deepen its presence, CREDAI Tamil Nadu is also expanding its chapter network. With 10 existing chapters, the association plans to add more, including in Sivagangai, Vellore, Karur, Nilgiris, and Thanjavur.

Chief minister M K Stalin on Tuesday inaugurated a newly constructed apartment complex comprising 32 flats in Karur through video conferencing. The project, undertaken by the Tamil Nadu Urban Habitat Development Board (TNUHDB), is located in Velambadi, Aravakurichi area of Karur district, and was built at a cost of 2.95 crore. Spread over 0.16.5 hectares, the residential complex consists of a basement and three floors. Each of the 32 apartments measures 400sqft and includes a bedroom, living room, kitchen, bathroom, and toilet, with an individual unit estimated to cost 9.23 lakh. As part of the initiative, 30 beneficiaries were issued allotment orders during the inauguration ceremony. The flats come equipped with essential amenities. A dedicated ground water tank, borewell, and motor room have been set up to ensure adequate water supply, managed by the Velambadi village administration. Additionally, a septic tank and drainage system have been constructed, along with street lighting for the safety and convenience of residents. District collector M Thangavel officially handed over the allotment orders in the presence of Karur MP S Jothimani and Aravakurichi MLA R Elango. The event was also attended by other district officials.
 

Despite reduction of unsold stock inventory and signs of recovery in the affordable housing segment, it has not enthused developers. Poor conversion rates, spiralling construction costs and unsustainable margins are posing a grave challenge to the affordable housing market. This has resulted in several developers keeping away from launching new projects in the segment. Their reluctance is despite a huge opportunity in this space over the next five years. A report by CII and Knight Frank has projected the cumulative fafordable housing demand to reach 31.2 million units with an estimated market size of Rs 67 trillion by 2030.   P Suresh, MD of Chennai-based affordable housing developer Arun Excello said, 90% of developers have shifted out of the affordable housing segment post-Covid in Tamil Nadu. "The pandemic impacted lower salaried employees who were the core customers of affordable housing. . Also, govt's incentives for affordable housing homebuyers were withdrawn. Subsequently, those buying properties for the purpose of rentals did not pursue their interests. Affordable housing units are those with a carpet area of up to 60 sqft in metropolitan cities and 90 sq m for m
 

Chengalpet, long plagued by poor roads, inadequate solid waste management, and a lack of basic infrastructure such as underground drainage, is now poised for a transformation. Chennai Metropolitan Development Authority (CMDA) has unveiled plans to reimagine the town as a sustainable, smart, and inclusive urban hub. Wide, walkable streets, eco-friendly mobility, planned residential zones, bustling commercial spaces, and thriving public areas all seamlessly connected to Chennai while preserving Chengalpet's unique identity form the heart of this ambitious vision. To realise this, CMDA floated tenders for preparing a comprehensive plan for Chengalpet New Town, mapping its growth from 2025 to 2045. The goal is to reduce dependency on Chennai, create local jobs and foster regional economic growth," said a CMDA official. Strategically located on Chennai's southern edge, Chengalpet has traditionally served as a transit and industrial corridor. The proposed planning area includes 60 villages from Chengalpet, Thirukazhukundram, and Thiruporur taluks. E Shankar, CPI(M) district secretary, said, "Chengalpet lacks underground drainage, has poor drinking water supply, and damaged roads. The new plan must address these gaps while creating employment for local residents." Urban planning expert K P Subramanian welcomed the initiative but cautioned, "The earlier master plan must be denotified first. Also, this new plan should not remain on paper implementation is critical."