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Nagpur Civic Body’s Stamp Duty Collection Misses Target Again

NAGPUR: In the previous financial year (2025-26), Nagpur city’s stamp duty collection on property transactions reached over Rs 1,700 crore, falling short of the Rs 1,900 crore target by approximately 9%. The overall value of transactions for the fiscal year ending March 31 amounted to over Rs 24,000 crore, with a 7% stamp duty applied. More than 11 lakh deeds were registered in that period. The state government’s decision to maintain the ready reckoner rates unchanged for the current financial year (2026-27) aims to stimulate property purchases, potentially increasing stamp duty collections as a result. The stamp duty target was…

Puravankara Leases 1.2 Lakh Sq Ft Retail to Ikea in Bengaluru

NEW DELHI: Puravankara has entered into a lease agreement (ATL) with Ikea India for over 1.2 lakh sq ft of retail space at Purva Zentech Park on Kanakapura Road, Bengaluru. Purva Zentech Park is a mixed-use commercial project featuring approximately 9.6 lakh sq ft of leasable and saleable area. Currently under construction, it is expected to be completed by early 2026. Ikea will take up the first and second floors, with the space slated to be handed over in Q1 2026, and operations planned to begin thereafter. Ikea India has opted not to comment. Colliers India’s office services team facilitated…

Embassy REIT Q2 FY26 Net Operating Income Up 15%

NEW DELHI: Embassy Office Parks REIT announced a 15% rise in its net operating income (NOI), reaching ₹927 crore for the second quarter of this fiscal year. The company’s revenue from operations increased by 13% year-on-year, totaling ₹1,124 crore for the July-September quarter, as per a regulatory filing. The Board of Directors of Embassy Office Parks Management Services Pvt Ltd declared a distribution of ₹617 crore, or ₹6.51 per unit, to unitholders for the second quarter of this fiscal year. The record date for this distribution is November 8, 2025, with payments scheduled on or before November 14, 2025. In…