September 6, 2025: On 5th September 2025, Haryana’s Chief Minister Mr. Nayab Singh Saini and Union Urban Development Minister, Mr. Manohar Lal Khattar laid the foundation stone of Gurugram metro’s first phase.

“The metro rail project will reduce congestion and pollution in the city. This is a historic day, and this project will transform the transport infrastructure of Gurugram and boost connectivity across NCR,” said Mr. Saini while speaking at Gurugram University auditorium.

A much-awaited infrastructural development in Gurugram, the first phase of the metro, includes the construction of 15.22 km of metro rail viaduct. The first phase, spanning 28.5 km in length, will connect Millennium City Centre to Sector 101 of Gurugram, passing through 13 other stations.

Speaking at the occasion, Union Urban Development Minister, Mr. Manohar Lal Khattar mentioned that the project will cost around Rs. 5,600 crore and will ensure rapid development of Gurugram, Manesar and Faridabad.

Sharing his thoughts about Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd., “The foundation of the Gurugram Metro Expansion Project marks a landmark moment in the city’s growth journey. Metro connectivity is the backbone of any modern urban ecosystem, and this expansion—spanning 15 km with 15 new stations—will ease mobility, decongest traffic, and unlock new opportunities for both businesses and citizens.”

“Along with transformative infrastructure such as the Dwarka Expressway, Southern Peripheral Road, and Sohna Elevated Corridor, this development is set to redefine Gurugram as a seamlessly connected urban hub. Collectively, these projects are not only enhancing the real estate potential of SPR and Dwarka Expressway but also laying the foundation for balanced, sustainable, and inclusive urban growth,” he added.

Talking about this milestone, Tejas Patil, Founder, Arbour Investments, said, “We didn’t rush into Dombivli. Every aspect, from land titles and municipal approvals to RERA registrations and execution timelines, was thoroughly verified before committing capital. For us, it’s not just about building homes; it’s about ensuring integrity at every step.”

Commenting on the partnership, Bhavesh Senghani, Promoter, Maharaja Dream Homes, said, “We have always believed in doing things the right way, even when it’s harder. Arbour recognised that and encouraged us to adopt an institutional approach from the very beginning. This alignment has shaped a partnership committed to timely delivery and building long-term buyer confidence.”

– Arbour Investments, India’s first Capital-to-Consumer platform engineered to institutionalize real estate investment through a proprietary blend of trust engineering, execution architecture, and capital governance systems, has announced a ₹75 crore investment in Balaji Estate Phase 2 and Balaji Uphomes by Maharaja Dream Homes Pvt. Ltd, an established developer with over two decades of experience and more than 1,800 completed homes. This marks Arbour Investments debut in Dombivli, one of Mumbai’s fastest-growing suburbs known for its blend of aspiration and affordability, supported by expanding connectivity and rising housing demand. The investment underscores Arbour Investments commitment to its disciplined approach of detailed due diligence, transparent documentation, and prudent capital deployment

The two phases will deliver over 1,150 homes across 9.25 lakh sq. ft., designed for first-time buyers and working families. Located near Khoni-Taloja Road in Dombivli East, the site offers easy access to the upcoming Manpada Metro Station, Kalyan-Shilphata Road, retail hubs like D-Mart and Lodha Xperia Mall, as well as schools, hospitals, and rail links. This connectivity enhances both the livability and long-term value of the homes.

To ensure accountability from start to finish, Arbour Investments uses its proprietary AIMS (Arbour Investment & Monitoring System) to track legal, technical, and financial parameters throughout the project’s lifecycle. This governance framework is applied consistently across all Arbour Investments, ensuring each project meets the same high standards.

For Maharaja Dream Homes, the partnership is as much about recognition as it is about funding.

Talking about this milestone, Tejas Patil, Founder, Arbour Investments, said, “We didn’t rush into Dombivli. Every aspect, from land titles and municipal approvals to RERA registrations and execution timelines, was thoroughly verified before committing capital. For us, it’s not just about building homes; it’s about ensuring integrity at every step.”
Commenting on the partnership, Bhavesh Senghani, Promoter, Maharaja Dream Homes, said, “We have always believed in doing things the right way, even when it’s harder. Arbour recognised that and encouraged us to adopt an institutional approach from the very beginning. This alignment has shaped a partnership committed to timely delivery and building long-term buyer confidence.”

As construction progresses and sales gain momentum, this debut investment reflects Arbour’s belief that with the right partners and governance, markets can be transformed into lasting communities built on trust and growth.

Flint Consulting was the exclusive Investment Banker for this investment transaction. Flint has been promoted by seasoned Investment Bankers and focuses on Real Estate Transaction Advisory across major markets in India.

New Delhi | September 06, 2025: The demand for Goods and Services Tax (GST) reforms in real estate has been growing since the tax regime was first introduced. While almost every industry sought rationalisation, the housing sector has been among the most vocal. Now, with the government considering GST cuts and restoration of Input Tax Credit (ITC), optimism in real estate is soaring. For millions of homebuyers, this could be the turning point that makes their dream of owning a house more affordable.

At present, key construction materials such as cement, steel, tiles, and sanitary fittings attract GST rates ranging from 18 to 28 percent. Developers pay these taxes but are denied ITC, which inflates the overall project cost by nearly 6–8 percent. This additional burden is eventually passed on to buyers, making homes several lakhs costlier. As a result, affordability has been compromised and housing demand has slowed down in many markets.

Industry experts emphasise that real estate is not just one sector but the backbone of India’s economy, linked to over 200 ancillary industries and generating millions of jobs. Rationalising GST and reinstating ITC is therefore being hailed as a historic step that could cut home prices, revive demand, and boost employment and investment.

How Much Can Buyers Save?

• Cement (Current GST 28%): A 5–10% reduction could lower construction costs by 2–3%.
• Steel (Current GST 18%): A 5% cut can reduce project costs by 1.5–2%.
• Overall impact: Total project costs could drop by 6–8%.
• Direct saving for buyers:
• A 2BHK flat priced at 50–60 lakh could become cheaper by 3–5 lakh.
• Larger homes and villas could see savings of 6–8 lakh.
• Sales boost: Demand is projected to rise by 15–20%.

Multiplier Effect Across NCR and India

Dinesh Gupta, President, CREDAI Western UP, says:
“GST reforms will have a multiplier effect across the real estate market. A 5–10% reduction in cement (28%) and steel (18%), combined with restoration of ITC, can reduce project costs by up to 8%. For a 2BHK apartment, this means direct savings of 3–5 lakh, while larger homes can save up to 8 lakh. Our analysis shows that such reforms could increase sales by 15–20% and bring the NCR as well as the national housing market back on track.”

Rising Costs and the ITC Problem

Suresh Garg, CMD, Nirala World, highlights:
“Builders pay GST on materials such as cement (28%) and steel (18%), but are denied ITC. This inflates project costs by 6–8%. If the government reduces GST and restores ITC, home prices could fall by nearly 10%, giving direct relief to buyers.”

Vikas Pundir, CMD, SKB Group, adds:
“The proposed GST reforms will be a game-changer for real estate. Lower taxes on construction materials will reduce project costs by 3–5%, especially benefiting the affordable housing segment. A simplified tax structure will also build buyer confidence and encourage first-time homeowners.”

Lower Prices Will Drive Sales

Shailendra Sharma, Chairman, Renox Group, observes:
“The recent move to reduce GST by up to 10% on key raw materials such as cement is very encouraging. This will prove to be a long-term positive for the sector. Lower taxation will ease the burden on homebuyers, accelerate sales, and allow developers to control prices while increasing supply.”

Not Just Tax Cuts, ITC Restoration is Key

Lt. Col. Ashwini Nagpal (Retd.), COO, Diligent Builders, stresses:
“Reducing GST on critical materials such as cement to 18% is welcome, but the real boost will come from restoring ITC. Without credit, a large part of costs remains locked, keeping property prices artificially high. If ITC is allowed, the sector will operate with greater efficiency and pass the benefits directly to buyers.”

Luxury Housing May Face a Challenge

While GST cuts benefit mass housing, the proposed 40% GST rate on high-end interiors could hurt the ultra-luxury segment, particularly in Gurgaon.

Gaurav Sobti, Founder, Homegram, warns:
“The proposed 40% GST on ultra-luxury interiors is a major concern. Currently, high-quality interiors already attract 28% GST, and a 12% hike could add nearly 12 lakh to the cost of a 5 crore apartment with 1 crore spent on interiors. This may weaken demand as buyers face higher costs, and developers may be forced to compromise on quality or sell bare-shell units. However, reducing GST on cement from 28% to 18% and implementing a two-slab tax structure could offset some of this burden, simplify compliance, and ensure long-term stability.”

The Bottom Line

With GST rationalisation and ITC restoration on the horizon, real estate could witness one of its most significant policy-driven turnarounds in recent years. From affordable housing to premium projects, buyers are set to gain through lower prices and greater transparency, while developers expect faster sales and improved liquidity. If implemented effectively, GST reforms could put the Indian housing market firmly back on a growth trajectory.

Chennai, 5th September 2025: Bringing the buzz of flash sales into real estate, Casagrand, one of the leading real estate developers in India, kick-starts Casagrand ‘Rush Hour’ a 96-hour non-stop home-buying festival in Chennai. Modelled on high-intensity consumer engagement models, the four-day campaign held between 4th September 2025 to 7th September 2025, will have its sales operation happening 24/7, bringing together exclusive offers, transparent pricing, and a wide range projects under one platform, transforming homebuying into a more engaging, simplified, and rewarding experience.

Day one of the campaign witnessed a phenomenal response from homebuyers across Chennai,. This powerful start has set the pace for the four-day fest, giving buyers the chance to unlock savings of up to ₹10 lakhs across 30 marquee Casagrand projects. Whether it’s a stylish apartment or a premium villa, Casagrand Rush Hour has something to match every budget. From Casagrand Cheers on Kelambakkam–Vandalur Main Road to Casagrand Madelyn in Thirumudivakkam, Casagrand Flagship in Pallikaranai, Casagrand Reva in Pallavaram, Casagrand HolaChennai in Sholinganallur, and Casagrand Jarvis in Siruseri, the campaign spans prime locations with unmatched offers. What makes Rush Hour truly distinctive is its bold, innovative format and seamless, engaging experience that is redefining how Chennai buys homes.

With Rush Hour, Casagrand once again demonstrates its leadership in redefining real estate marketing, offering homebuyers not just properties, but a dynamic and rewarding purchase experience. As the city’s most exciting homebuying festival continues till 7th September, buyers in Chennai have a limited window to seize unmatched deals across some of the city’s most sought-after residential projects. Backed by Casagrand’s legacy of trust, quality, and innovation, Rush Hour is making homeownership more accessible, transparent, and compelling than ever before.

September 02,2025: New Delhi: Realty firm Tathastu Realty said it will develop a 6-acre high-street commercial project in Rewari, Haryana, with an estimated investment of ₹200 crore.

The project, to be called Swarnim, will come up in Sector 22, Rewari, and is spread over six acres of land. Swarnim will comprise 1,200 shops, the company said. The launch price has been set at ₹14,000 per sq. ft.

Tathastu Realty said the total sales realisation from the project is expected to be about ₹400 crore. The company added that the project is designed to cater to the growing demand for organised retail and small-format commercial spaces in the Rewari region.

“The commercial real estate segment in emerging growth hubs like Rewari is witnessing steady demand. With Swarnim, we intend to provide a structured retail environment in a location which has strong connectivity and growth prospects,” the company said.

Mr. Neeraj K Mishra, Executive Director, Tathastu Realty , said, “With Swarnim, we aim to bring a premium high-street shopping experience to Rewari. The strategic location and thoughtfully planned infrastructure will provide a significant boost to the region’s retail and commercial ecosystem. We are confident that this development will emerge as a landmark destination for businesses and consumers alike.”

Rewari, which falls in the National Capital Region (NCR) belt, has seen a rise in commercial and residential activity in recent years owing to improved infrastructure and strong connectivity with Gurugram, Delhi, and Jaipur via NH-48, Delhi–Jaipur Expressway, and upcoming Regional Rapid Transit System (RRTS). The city is also well-linked through rail and road networks, further boosting its appeal as a commercial hub.

The company highlighted that this will be its third commercial development under the Swarnim brand, after the successful projects in Sohna, Sector 5 and Sohna, Sector 35.

The entire investment for the project will be funded through internal accruals and customer advances. Possession of this project is scheduled for 2029.

1st September, 2025: Ashok Leyland, the Indian flagship of the Hinduja Group and the country’s leading commercial vehicle manufacturer, today announced its plans to invest in development and manufacturing of next-generation batteries, for both automotive and non-automotive applications, including energy storage systems. This reinforces Ashok Leyland’s ambition to be a leading player in creating an electrification ecosystem in the country, in alignment with Government’s vision of creating a sustainable and green economy.

In the backdrop of improving bilateral relations, Ashok Leyland has entered into a long-term exclusive partnership with CALB Group, one of the foremost battery technology companies in China.

The agreements were signed by Mr. Shenu Agarwal, Managing Director & CEO, Ashok Leyland and Mr. Jacky Liu, CEO, CALB (HK) Co., Ltd, in presence of Mr. Shom Hinduja, President, Alternative Energy and Sustainability Initiatives, Hinduja Group.

Ashok Leyland will invest in battery localization in India. This will not only provide for Ashok Leyland & Switch’s own electric vehicle portfolio but will also cater to non-captive demand in the entire automotive sector as well as in energy storage sector. This business would entail investments over Rs. 5000 Cr over the next 7-10 years.

Mr. Dheeraj Hinduja, Chairman, Ashok Leyland said, “Ashok Leyland is deeply committed to shaping the future of sustainable mobility in India in full alignment with Government’s vision. Our strategic partnership with CALB is a significant step towards creating a localised battery supply chain in India to accelerate adoption of electric vehicles in India and reduce our dependence on fossil fuels.”

Mr. Shenu Agarwal, Managing Director & CEO, Ashok Leyland, said, “In the initial phase, the new battery business shall focus on automotive sector, and then move to non-automotive areas as well, including energy storage systems. A Global Centre of Excellence will be created to serve as a hub for research and development, fostering innovation in battery materials, recycling, battery management systems, and advanced manufacturing processes.”

This partnership marks yet another milestone for Ashok Leyland and Hinduja Group’s ongoing commitment towards electrification, with investments across Electric Vehicles, Electric Mobility-as-a-Service, Charging Equipment, Vehicle Financing and Leasing, and other areas.

Mumbai, 1 September 2025: With global trade tensions and spiralling housing prices raging, residential sales were markedly tepid in H12025 when compared to same period last year. However, listed developers remain on track on their pre-sales targets, finds data compiled by ANAROCK Research. Investor presentations and regulatory filings of the top 10 listed developers show that almost 30% or INR 44,317 Cr of total booking (pre-sales guidance) targets of INR 1,49,108 lakh Cr in FY 2026 is already squared away in the first quarter of FY 2026. They are on track to achieve their booking targets of over INR 1.49 lakh Cr in FY 2026.

“Players like DLF Ltd and Prestige Estates are cases in point – DLF has hit nearly 52% of its total pre-sales target of INR 20,000-22,000 CR for FY 2026 in Q1 FY2026,” says Anuj Puri, Chairman – ANAROCK Group. “Prestige Estates has already clocked pre-sales of nearly 45% of its INR 27,000 Cr target for FY 2026.”

The top 10 listed developers’ booking targets in FY 2025 stood at approx. INR 1,20,818 Cr. In short, they are targeting pre-sales growth of 23% over FY25 in the current fiscal.

In terms of actual annual sales bookings in FY 2025, Godrej Properties led the pack in last fiscal with pre-sales of nearly INR 29,444 Cr, followed by DLF Ltd. with sales bookings of approx. INR 21,233 Cr.

The listed players’ pre-sales actuals achieved in FY 2025 have set the tone for FY 2026.

“Buoyed by this sales momentum, their continued land buying spree in H1 2025, when over 2,898 acres of land were transacted in 76 deals across India,” says Puri. “The total land volume transacted in H1 2025 is already 1.15 times of the deals volume in the whole of 2024, when 133 deals for about 2,515 acres were concluded across the country.”

Net Debt-Equity Ratio Boosts Financial Strength

After the NBFC crisis in 2018 and the ensuing pandemic disruptions, developers faced funding crunches and declining sales. Many, especially the large and listed ones, focused on deleveraging, improving pre-sales, monetizing assets, and raising equity capital. As a result, several top developers have brought down their net debt-to-equity ratios, with some even achieving net cash positions.

In a new phase of exceptional financial prudence, the average net debt-to-equity ratio of leading listed players has dropped to a historic low of 0.05 in FY25. This marks an over 90% reduction from the FY17 peak of about 0.55. The average net debt-to-equity ratio decline from ~0.55 in FY17 to 0.05 in FY25 was primarily aided by fund raising and improved operational cash flows.

The real estate sector’s shift from leverage-led to balance-sheet-led growth marks a pivotal shift in its investment appeal and operating model. With near-zero debt levels, improving buyer sentiment, and favourable monetary policy positions, FY26 sees the industry in a stable, trust-driven, performance-led cycle that has long-term potential.

“This deleveraging phase will positively impact real estate development in India over the long-term. With D/E ratios at multi-year lows and equity capital continuing to flow in, developers can expand strategically, consolidate market share, and build consumer trust,” adds Puri.

The improved financial metrics also make Indian real estate sector more attractive to institutional and foreign investors, which bodes well for capital formation in the medium term.

Strong Balance Sheets = Greater Flexibility

The sharp decline in leverage has provided multiple advantages to developers:

• Lower interest burden: Lower financing costs have freed up capital for ongoing and new projects.
• Improved credit profiles: Many developers have received rating upgrades, facilitating access to institutional funding at more competitive rates.
• Higher consumer confidence: Buyers are increasingly favouring financially sound developers, further supporting their pre-sales momentum.

With some large developers now with net cash balances, the collective goal now is keeping the net debt-to-equity ratio under 0.4 and more players are targeting a net cash position over the next three fiscal years.