Buying an apartment or plot in Tamil Nadu may soon become a presenceless process, with the state registration department preparing a system where neither buyers nor developers will need to visit sub-registrar offices (SROs) for first-sale registrations. In the first phase, the facility will be optional and gradually made mandatory. Officials said the move is aimed at easing congestion  many of which function from cramped offices with little space or parking for visitors. Every year, about 36 lakh documents are registered in Tamil Nadu, of which 5.5 lakh are Memoranda of Deposit of Title Deed (MOD) and 3.5 lakh are receipt deeds. On average, 26,000 apartments are registered every month, with Chennai topping the list. The state has 582 SROs. Two years ago, presenceless registration was introduced for MODs, receipt deeds, and residential lease deeds (within five years), but it was not mandatory. Currently, only about 30,000 MODs and receipt deeds are done online. Under the proposed system, once the seller and developer complete the online registration, the respective SRO will access the application, verify the details, and clear the documents. To enable this, the department will provide software to top builders and developer associations. The proposal, however, has triggered concerns over safety. With multiple complaints of fraudulent registrations and property disputes already pending across the state, many fear that removing physical presence could open the door to manipulation and forgery. "This move will make the entire process faster and far more convenient for buyers. For developers too, it reduces the hassle of coordinating multiple visits to sub-registrar offices. What we need is a robust system with strong safeguards so that trust is maintained by chairman of the DTCP committee at the Builders Association of India.
 

Chennai Metro Rail will complete the construction of the viaduct and the massive double decker stretch along Arcot Road for the phase II project between Porur and Power House by September end. Porur to Power House, a section of corridor 4 of the phase II project whose entire length runs to 26.1 km from Light House to Poonamallee via Porur and Vadapalani. This section of corridor 4 is pivotal for commuters for two reasons; firstly, when ready, it offers connectivity to the phase I network at Vadapalani and secondly, the 3.75km diuble decker corridor between Alwarthirunagar and Alapakkamwill allow commuters to switch between corridor 4 and corridor 5 (Madhavaram to Sholinganallur) in any of the four locations which are Alwarthirunagar, Valasaravakkam, Karambakkam, and Alapakkam. This time next year, trains will be operated in the first level of the double decker and shortly thereafter when a part of corridor 5 is ready, the second level will witness train operations. According to officials of Chennai Metro Rail Limited (CMRL), they have to construct around 340 piers between Porur and Power House and of that, nearly 95 per cent of the work has been completed. Sources said there has been a six-month delay in the construction of the Porur-Power House stretch. In the locations where the viaduct has been finished, track laying is under way and the installation of overhead equipment (OHE) is in progress. “The track and OHE work has been on at Vadapalani, Saligramam, Karambakkam and Alapakkam,” another official. Sources said it could take about four months to finish the OHE work. 

A co-working space operator reported a consolidated net loss of ?4.19 crore for the first quarter of FY26, compared with a net loss of ?23 crore in the same period last year. Total income increased to ?387.98 crore during the April–June period of 2025-26, up from ?323.15 crore in the corresponding period of the previous year, according to a regulatory filing.

During the 2024-25 fiscal year, the company had posted a net loss of ?63.17 crore on a total income of ?1,409.66 crore. The operator, which was recently listed on stock exchanges, is one of the leading co-working center providers in the country.

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A manufacturing firm has begun construction of its seventh float glass production line and fifth mineral wool insulation line in Oragadam, Chennai. The new float glass facility will have a production capacity of 1,000 tonnes per day.

Following previous acquisitions in the insulation sector, the company has expanded its operations in India. The fifth mineral wool insulation plant will have a production capacity of 50,000 tonnes.

A real estate investment fund has acquired over 37 ready-to-move-in luxury apartments in a super-premium residential project in Mumbai’s Worli area for more than ?500 crore. The deal marks one of the first inventory buyout transactions by an institutional investor in the country’s growing luxury housing market.

The fund acquired the apartments from a non-banking financial institution that had received the inventory as part of a debt settlement with the project’s developer. The transaction includes apartments in two towers that have already received occupation certificates from the Mumbai civic authority. The portfolio consists of three- and four-bedroom residences with carpet areas ranging from 2,000 sq ft to 3,800 sq ft, spanning a total of approximately 80,000 sq ft.

The fund plans targeted refurbishments to bring the apartments up to current luxury standards before marketing them for sale, with around ?50 crore earmarked for upgrades prior to sales.

Property consultants noted that the deal is based on the opportunity to unlock value due to the project’s occupation certificate status, ready inventory, and discounted pricing. The fund may refurbish interiors, enhance fit-outs, and adopt a phased sale strategy to maximize returns.

South and central Mumbai, home to some of India’s most expensive residences, have been at the forefront of this luxury housing boom, attracting high-value transactions involving prominent industrialists, corporate leaders, celebrities, and sports personalities in recent years.

A cement company’s ?36-billion ($413 million) initial public offering (IPO) was fully subscribed on the third day of bidding, as investors backed the firm’s long-term growth prospects supported by government initiatives in infrastructure and housing. Cement producers in India, the world’s second-largest supplier of the material, are betting on rising government infrastructure spending and a strong housing sector to drive demand, which has spurred increased deal activity in recent years. Cement demand is expected to grow 6%-7% annually through 2030, according to a ratings agency, with analysts also forecasting price recovery from last fiscal year’s multi-year lows. Total bids were 1.31 times the shares on offer, exchange data showed as of 1:00 p.m. local time. Both institutional and retail investors matched the portions allotted to them. The company, which targets a valuation of around $2.3 billion, is scheduled to list on major Indian stock exchanges in mid-August. Analysts have noted that the firm has a competitive edge due to its access to related industries, allowing it to source key raw materials and power at favorable terms.

A real estate group has signed a memorandum of understanding (MoU) with a foreign family office to create a special purpose vehicle (SPV) platform.

The 50:50 joint venture will focus on developing one million sq ft of grade-A commercial and retail spaces in Chennai and Bengaluru in the first phase, with an estimated investment of $100 million. Representatives of the partners stated that the collaboration combines local expertise with global capital to drive sustainable real estate growth and aims to explore future cross-border development opportunities.

Artificial intelligence (AI) has been introduced to boost revenue from property tax, generating around ?200 crore so far, which is approximately 72% higher than the ?29 crore collected in the previous fiscal year.

Authorities used data from self-certified properties with the highest dues and employed a generative AI bot to call property owners. The bot interacts in real time, asking about difficulties faced in paying property tax and addressing their concerns. Before reaching out, the data was categorized into property owners who promised to pay, those who refused, and those facing genuine difficulties. Most of the contacted owners ended up paying the taxes.

The AI-based property tax collection was initially started as a pilot project in one city before being expanded. Meanwhile, residents have noted that since the initiative has generated significant revenue, the funds should be invested back into the city’s development. They emphasized that the city lacks adequate manpower and machinery to function efficiently and suggested learning from other municipalities to invest in the right infrastructure.

A UAE-based real estate developer plans to launch projects worth ?20,000 crore next year. The developer has already launched projects worth ?10,000 crore and currently has 30 projects in its portfolio, with plans to add 10–15 more projects by next year.

The firm is acquiring ready-to-move-in buildings in Dubai, refurbishing them, and selling them, aiming to address the demand-supply gap in the region.

It has also entered into a collaboration to launch a branded residential development on Al Marjan Island in Ras Al Khaimah, an area undergoing rapid development and positioning itself as a hub for tourism, investment, and luxury real estate. Eight million visitors are expected to visit Ras Al Khaimah annually by 2027, and the focus is on branded residences to bridge the gap in demand and supply.

The region, including Al Marjan Island, is emerging as a major center for new urban development. With strategic infrastructure investments, growing global hospitality interest, and supportive governance, demand for properties in the area has surged, with projected rental yields expected to reach 8–14%, making it an attractive option for investors.

A cement company mobilized ?1,080 crore from anchor investors a day before its initial public offering (IPO) opened for public subscription. The anchor portion saw participation from both domestic and foreign institutional investors, including government-backed funds, investment authorities, and mutual funds.

The company allotted 7,34,69,386 equity shares to 52 funds at ?147 per share, aggregating the transaction size to ?1,080 crore. The IPO has a price band of ?139–147 per share, valuing the 17-year-old firm at ?20,000 crore at the upper end of the band.

The decision to scale down the IPO size from ?4,000 crore to ?3,600 crore was reportedly driven by current business requirements and to allow for possible future share dilutions. Market conditions at the time of announcement were less favorable, necessitating adjustments in the target fundraise.

Financially, the company’s revenue from operations for FY25 stood at ?5,813.1 crore, compared with ?6,028.1 crore in FY24 and ?5,836.72 crore in FY23. The company reported a loss of ?163.77 crore in FY25, while it had profits of ?62 crore in FY24 and ?104 crore in FY23.

As of March 31, 2025, the company had an installed grinding capacity of [capacity figure not provided].

 An affordable housing finance company, on Tuesday said it has secured Rs 250 crore in funding from British International Investment (BII). BII is the UK's government development finance institution. The investment will enable Ummeed to provide more low-cost long-tenure housing finance to low-income groups in India. The funds will be deployed as mortgage-backed loans to underserved borrowers, with a strong emphasis on empowering them through property ownership and financial inclusion, the company said in a statement. These loans will support homeownership, in line with  growth, it added. The fresh infusion of capital is expected to benefit up to 3,000 women borrowers through mortgage-backed loans and has been qualified as a 2x investment, part of a global initiative aimed at advancing women's economic empowerment. "This BII facility will help us drive the development agenda, leading to the improvement in the quality of life for borrowers and co-borrowers in the low- and middle-income strata of the society.

A leading housing finance company reported a 4.41% increase in net consolidated profit for the quarter ended June 30, 2025. The profit after tax for Q1 FY26 stood at ?1,364 crore, compared to ?1,306.40 crore recorded in the same quarter of the previous financial year, according to its exchange filing.

The company’s net consolidated total income for the quarter remained steady at ?7,250.16 crore, similar to the level reported during the corresponding period last year.

According to the management, the financial year began on a strong note, supported by a reduction in lending rates following the RBI’s rate cut. The company also introduced a zero processing fee during the quarter to improve access to housing credit.

As of June 30, 2025, the company reported the following financial and operational metrics:

• Net worth: ?35,934.06 crore

• Debt-equity ratio: 7.71

• Total debt to total assets: 0.88

• Operating margin: 23.49%

• Net profit margin: 18.80%

• Gross NPAs: 2.62%

• Net NPAs: 1.30%

• Liquidity coverage ratio: 177.43%

The board has also formed a review committee to oversee the identification of wilful defaulters.

Provisions for expected credit loss (ECL) stood at ?5,051.27 crore as of June 30, 2025, compared to ?5,670.07 crore a year earlier. The Stage 3 exposure at default improved to 2.62%, down from 3.30% reported on June 30, 2024.