19 Aug 2024

The Srinagar Development Authority (SDA) and National Buildings Construction Corporation (NBCC) have signed an MoU to develop a satellite township at Rakh Gund Aksha, Bemina, Srinagar, spanning 406 acres. The project, costing approximately INR 15,000 crore, will unfold over five years in phases, featuring modern amenities like residential plots, luxury villas, apartments, commercial spaces, and a five-star resort. Supported by a self-sustaining model, the project will include 3,200 affordable housing units. This collaboration aims to modernise Srinagar's infrastructure, stimulate the local economy, create jobs, and attract investment, marking a significant milestone in the region's development.Read more

19 Aug 2024

An INR 60 lakh budget has been sanctioned for constructing a permanent bridge in Murbad's Fangulgavhan village after a Hindustan Times report highlighted the issue. The bridge will provide a lasting solution for the affected tribal community, who face severe transportation challenges during the monsoon due to a swollen stream. The district collector, Ashok Shingare, swiftly secured technical and administrative approvals, and construction is about to begin very soon. The decision follows the villagers' 15-year struggle for the bridge, recently intensified by a near-tragic incident involving a student. The project is prioritized before the upcoming assembly elections' code of conduct.Read more

16 Aug 2024

The long-awaited handover of Indirapuram from the Ghaziabad Development Authority (GDA) to the Ghaziabad Municipal Corporation (GMC) is approaching, following a joint survey to assess infrastructure needs. The GMC has requested INR 365 crore for the transfer, citing necessary upgrades to roads, drainage, and lighting, while the GDA disputes this. The process, stalled since 2016, was delayed further by the election code of conduct. Additionally, the GDA's recent urban development policies include establishing TOD zones and revising hotel construction bylaws, aiming to enhance infrastructure and boost local tourism.Read more

16 Aug 2024

The Uttar Pradesh government is launching Harnandipuram, a new 541-hectare residential township, to address rising housing demand in the Noida-Ghaziabad area. Approved by the Ghaziabad Development Authority (GDA), this INR 5,000 crore project, dubbed "Naya Ghaziabad," will create 5,000 housing units and alleviate pressure on current markets. Positioned near major roads and the Delhi-Meerut RRTS, the township promises enhanced connectivity and affordable housing. The development aims to prevent unauthorized colonies and boost local infrastructure. Real estate experts see Harnandipuram as crucial for Ghaziabad's growth, integrating residential, commercial, and social facilities.Read more

16 Aug 2024

Gujarat International Finance Tec-City (GIFT City) has joined forces with the National Forensic Sciences University (NFSU) to establish a Centre of Excellence (CoE) in Corporate Forensics. This MoU, signed by Tapan Ray of GIFT City and Dr. JM Vyas of NFSU, focuses on international arbitration, fraud investigation, and cybersecurity. The CoE will develop training programs, facilitate faculty exchanges, and host workshops to address the growing need for expertise in these fields. This strategic partnership aims to bolster the skills of professionals and support GIFT City's growth as a global financial hub.Read more

15 Aug 2024

The Airport Authority of India has finalised Bhopal airport's master plan, set to be implemented in three stages: Phase 1, Phase 2, and Ultimate Capacity by 2047. To reach ultimate capacity, the runway will extend to 4000 metres, requiring 65 acres of additional land, pending state government approval. This expansion is crucial for future air traffic growth. Phase 1 will enhance existing infrastructure, including terminal expansion and new parking areas. Phase 2 will add taxiways, aprons, and hangars. The final phase will fully extend the runway, allowing larger aircraft and new routes. This promises economic benefits and improved passenger experiences.Read more

15 Aug 2024

Global Capability Centres (GCCs) have leased 53 million sq. ft. of office space in India from 2022 to mid-2024, with Bengaluru leading at 40% market share. GCCs accounted for 37% of total office leasing activity in the first half of 2024, driven by increases in the BFSI sector, which rose to 22% of the market. Bengaluru's success is attributed to its large tech workforce and start-up ecosystem, while Hyderabad, Chennai, and Pune also saw significant leasing. The demand for engineering, IT, and BFSI skills highlights India's growing role as a key global business hub.Read more

15 Aug 2024

The CAG's compliance audit report highlighted that in March of 2018, the Railway Ministry had approved an MoU between the Rail Land Development Authority (RLDA) and IRCON. The plan was formulated to generate non-fare revenue for the 2017-18 fiscal year by transferring the land lease development rights to Public Sector Undertakings (PSUs) in exchange for an upfront lease premium. The report also suggested that this decision was made without proper consideration and due diligence, leading to significant financial implications for the railways. The CAG emphasised that the approach was not adequately thought through, resulting in a substantial loss of revenue.Read more

14 Aug 2024

Hyderabad-based CtrlS Datacenters Ltd. has acquired a land parcel worth INR 400 crore in Patna to develop a new data center with a 10MW IT load capacity, capable of housing over 1,000 racks. This will be the company's second facility in Patna, located just 300 meters from its existing DC1 center. Facilitated by the Bihar Industrial Area Development Authority (BIADA), this expansion underscores CtrlS's commitment to growing its presence in Patna. The company, one of Asia's largest rated-4 datacenter operators, aims to establish over 20 Edge Data Centers across Tier-2 and Tier-3 cities. Founder and CEO Sridhar Pinnapureddy highlighted the project's potential to attract investment and create employment in Bihar, praising the state government's supportive policies. CtrlS also has ambitious expansion plans across India, including a INR 2,200 crore project in Kolkata and a recent DC-3 launch in Hyderabad.Read more

14 Aug 2024

The HD-BRTS has announced a INR 3 crore development project on a 7,250 square metre site near Navanagar Bus Stop, set to significantly enhance the area. This major initiative will include a food court with 12 stalls, a transit plaza with seating and a garden, a children's park with toys and safety features, and a traffic park designed to educate kids about traffic rules with interactive models. Aligned with the Transit-Oriented Development (TOD) principles, the project aims to create sustainable, walkable urban spaces. R. Gudaraddi, HD-BRTS's general manager, and local resident Basavaraj Jamboti both support the high-quality execution of this transformative project.Read more