14 Sep 2023

In a heart-wrenching incident, a scaffolding collapse at an under-construction building in Hyderabad leads to the loss of three lives, including two young women, and leaves two others seriously injured. The workers, hailing from Odisha, were labouring on an allegedly unauthorized floor of the multi-story building when the catastrophe occurred. The collapsed scaffolding sent debris raining down, shaking local residents. As investigations continue, authorities are working to identify the building's owner to hold them accountable. The tragic event underscores the dangers faced by migrant laborers and raises questions about construction site safety measures.Read more

14 Sep 2023

Residents of Jagdamba Nagar Extension in Jaipur, a relatively new residential area, are facing numerous challenges due to ongoing construction activities. Over 50% of the plots in the colony are under construction, with builders indiscriminately dumping building materials and parking large vehicles on the colony's roads. This has severely limited the available space and created safety concerns, especially in the absence of streetlights. Additionally, the lack of a proper sewerage system exacerbates the situation, particularly during the rainy season. Local authorities, including the Jaipur Development Authority, are struggling to address these issues due to limited resources and voter representation.Read more

14 Sep 2023

Four builders involved in a tragic construction accident in Naroda, resulting in the deaths of three workers, were arrested and later released on bail. The incident, which occurred at the Fortune Empire construction site, prompted charges under IPC sections 304 (A) and 114 for negligence and abetment. The Bandhakam Majdoor Sangathan has called for strict action against the builders, citing a rising trend in construction accidents due to inadequate safety measures.Read more

13 Sep 2023

SEBI has introduced a framework enabling eligible unitholders, those holding 10 percent or more of a REIT's or InvIT's outstanding units, to exercise board nomination rights. Unitholders must inform the trust's investment manager in writing about their proposed candidate for nominee director, providing details such as name, director identification number, and a brief profile. If found ineligible, the manager must inform the unitholders, who can then submit an alternative candidate. The manager must also regularly review the unitholders' eligibility. This framework enhances governance and transparency in REITs and InvITs by allowing major unitholders to nominate directors.Read more

13 Sep 2023

In a devastating incident in Balkum, Thane, six construction workers were killed and one critically injured when an elevator collapsed from the 13th floor of a 40-storey building. The project, managed by Dhruva Woollen Mills Pvt Ltd, is under scrutiny as investigations begin. The company stated that the elevator underwent regular maintenance, with the last check on August 23. Thane's municipal commissioner confirmed an FIR against the builder and emphasized the ongoing investigation. The incident serves as a stark reminder of the importance of safety measures in construction zones.Read more

13 Sep 2023

A 22-year-old man, Akash Jadhav, tragically lost his life after a pothole accident in Thane, Maharashtra. The Thane rural police have registered an offence against Jijau Construction Road Build Private Ltd, the company tasked with the road's upkeep. The incident highlights the firm's alleged negligence, with the road being a hotspot for accidents due to multiple potholes. In a separate event in Nashik, an old house's collapse claimed two lives, emphasising the urgent need for regular infrastructure maintenance.Read more

13 Sep 2023

The upcoming five-day special Parliament session in New Delhi will see the old Parliament building bid farewell, with the inauguration of the new structure set for Ganesh Chaturthi on September 19. Both Houses will reflect on the historical significance of the old building on the first day, and Parliamentarians will share their memories. A joint sitting of Parliament is expected. A new dress code, designed by NIFT, is being introduced for staff, while marshals will wear Manipuri or Kannada turbans.Read more

12 Sep 2023

Bollywood icons Amitabh Bachchan, Kartik Aryan, and Sara Ali Khan, along with Amrita Singh, have made significant property acquisitions in a Mumbai commercial project in Andheri's Oshiwara locality. Bachchan purchased four offices spanning nearly 8,400 sq ft for approximately Rs 29 crore. Kartik Aryan acquired an office of around 2,100 sq ft for Rs 10 crore, while Sara Ali Khan and Amrita Singh bought a similar-sized office for Rs 9 crore. Interestingly, Ajay Devgan and Kajol had previously acquired offices in the same project. The real estate project, with 28 upper floors, is set to be completed by June 2025, and real estate remains a favoured investment among high-net-worth individuals and Bollywood celebrities.Read more

12 Sep 2023

Residents of South Nagpur have been waiting for the construction of an internal road for 17 years, but the Nagpur Improvement Trust (NIT) has done nothing. Despite the NIT having approved the layout in 2006, encroachments and illegal buildings have impeded the completion of the road. Encroachments were earlier ordered to be removed by the Bombay High Court, but they have since returned. As this road is essential for their safety and convenience, residents are now requesting that the NIT solve the situation.Read more

12 Sep 2023

India's Proptech sector is booming, securing $4 billion in investments between 2009 and 2022 with a CAGR of 49%. Co-living and co-working platforms dominate, followed by construction technology. Major players like NAREDCO Maharashtra are launching dedicated funds to accelerate innovation in real estate and support start-ups. Brigade REAP, backed by Brigade Enterprises Limited, has mentored 62 start-ups with a 40% success rate in securing external funding. HDFC Capital's HeART Platform and Gruhas Aspire are also actively fostering Proptech innovation through accelerator programs, further driving growth in this dynamic sector.Read more