29 Jul 2023

The Indore Development Authority (IDA) has taken a significant step towards customer-centricity and transparency with the introduction of lease management and file tracking systems. These cutting-edge systems provide property holders with easy lease renewals and the ability to track application progress. With a focus on e-governance, IDA aims to inspire other development authorities and is set to be recognized with coveted awards in the state. The IDA Indore stands as a premier urban planning agency, responsible for diverse initiatives ranging from infrastructure development to education, healthcare, and business climate enhancement.Read more

29 Jul 2023

West Bengal's State Cabinet has approved the construction of an innovative township, Forum Township Project, in New Town. The sprawling 58-acre township will feature modern amenities and a special reservation for economically weaker sections. In addition, the state's standing committee on commerce and industries has given the green light for an ethanol plant in Gazole, Malda, and a tea resort in New Champta, North Bengal. The government aims to promote ethanol production and boost tea tourism in the region. Moreover, a new program, "Shilper Sandhane," will support MSME entrepreneurs and startups with hassle-free loans up to Rs 5 lakh.Read more

29 Jul 2023

Indian edtech startup Byju's has taken measures to reduce office spaces in Bengaluru as it faces financial challenges and attempts to cut costs. The downsizing process involves reducing workspace from multiple floors to only a few. Sources close to the matter state that the company’s main corporate office, which initially spanned across six floors, is now operational on only three floors. This move comes amidst financial and legal challenges the company is currently facing. This decision is being seen as a response to the company’s financial difficulties and a shift in its business priorities.Read more

28 Jul 2023

Groundwater depletion in Punjab and Haryana has reached critical levels, impacting both urban and rural areas. The unsustainable extraction of water for various purposes has led to declining water levels, posing a significant threat to water resources in the region. The central government's Atal Bhujal Yojana aims to manage water demand and promote sustainable groundwater management in water-stressed areas. However, proactive measures from the respective state governments are essential to effectively tackle groundwater depletion and ensure the conservation of this precious resource.Read more

28 Jul 2023

The construction of the super specialty wing at JJ Hospital in Mumbai has faced significant delays, with only 24% of the project completed over the past three years. The project, estimated at Rs. 700 crore, aims to provide comprehensive medical services and add 1200 beds to the existing hospital. The decision on whether to grant an extension to the current builder or assign the project to another developer rests with the Public Works and State Medical Education Department.Read more

28 Jul 2023

A new report by India Sotheby’s International Realty and CRE Matrix reveals a significant 50% surge in sales of Mumbai's luxury homes in H1 CY’23. High-end properties priced above Rs 10 crore have sold to the tune of Rs 11,400 crore, underlining a healthy return of confidence in India's real estate market. The robust increase aligns with a boom in overall residential sales and the growing affluence of India's financial capital, Mumbai. The ultra-luxury segment (Rs 40-70 crore) also witnessed a 64% growth, further showcasing the city's economic resilience.Read more

28 Jul 2023

After a decade of planning, Mohali's Economically Weaker Section (EWS) housing project has finally commenced. Using the innovative brick less construction technology outlined in the Punjab EWS Housing policy, the Greater Mohali Area Development Authority (GMADA) intends to build 5,000 units in the initial phase. A government-owned entity will oversee project execution from start to finish. The project, underpinned by an ambitious plan approved by the Punjab cabinet in 2021, promises affordable housing solutions for the economically disadvantaged, thereby reaffirming Punjab's commitment to social equity.Read more

27 Jul 2023

A tragic incident occurred in Bhayandar, Mumbai, where a commercial building by the name of Navkriti Premises collapsed opposite the Bhayandar railway station. The building, categorized as dangerous, was unoccupied, but some shopkeepers were conducting business inside despite receiving an eviction notice. The collapse resulted in one fatality and four injuries. The incident underscores the need for urgent action to address the state of old buildings in the city, ensuring proper inspection and demolition to prevent such accidents in the future. Authorities highlight the importance of regular inspections and necessary measures to ensure the safety of potential occupants.Read more

27 Jul 2023

The affordable housing market in India's top seven cities is facing a downturn, with demand shrinking by 20% in H1 2023, according to ANAROCK Research. Escalating land costs and other pandemic-induced factors are being blamed. Conversely, the luxury housing segment is thriving. As a result, developers are shifting focus to mid-range and premium projects. Mumbai, Pune, and NCR saw the most new affordable housing supply in H1 2023, despite the overall contraction. The change underscores a significant shift in real estate market trends.Read more

26 Jul 2023

In a comprehensive evaluation carried out by engineering authorities from the Secunderabad Cantonment Board (SCB) last year, it was revealed that approximately 20 edifices dating back to the pre-Independence era were teetering on the brink of collapse. The assessment raised concerns over the dire condition of these dilapidated structures in the region. As their structural integrity continued to deteriorate, residents faced an imminent threat to their safety and well-being. Action is deemed necessary to address the potential risks posed by these aged buildings and ensure the protection of the local community.Read more