05 Nov 2024

Bollywood legends Amitabh and Abhishek Bachchan have invested INR 24.95 crore in residential properties in Mulund West, Mumbai, within Oberoi Realty's project, Eternia. The acquisition includes ten apartments, totaling 10,216 sq. ft., with Abhishek securing six units for INR 14.77 crore. This investment continues the family's trend of significant real estate transactions, accounting for over 25% of celebrity deals in the Mumbai Metropolitan Region since 2020. In 2024, they have invested over INR 100 crore across various properties. Their portfolio reflects a strategic focus on prime real estate, aligning with the growing demand for luxury housing in Mumbai.Read more

05 Nov 2024

Kochi Metro Rail Ltd (KMRL) is improving public transport in Kochi with the construction of a new Metro station at Vazhakkala as part of the Pink Line project, which will connect Palarivattom to Kakkanad Junction. The land acquisition process for Vazhakkala has begun, with notifications issued for approximately 0.2078 hectares in Kanayannur taluk. The Pink Line will feature 11 stations over 11.2 kilometres, serving key areas like Jawaharlal Nehru Stadium and Infopark, enhancing travel efficiency. KMRL's expansion aligns with sustainable urban development goals, aiming to reduce traffic congestion and promote public transport use while contributing to local economic growth through improved connectivity.Read more

04 Nov 2024

The Union Cabinet has greenlit two major railway projects totaling INR 6,800 crore to enhance connectivity in Andhra Pradesh and Bihar. The Amaravati project (INR 2,245 crore) will connect the new Andhra Pradesh capital to major cities, aiding regional growth and access to key ports. The Bihar initiative (INR 4,543 crore) involves doubling railway lines to strengthen the Indo-Nepal trade corridor, boosting links to religious and cultural sites. Additionally, a new INR 1,000 crore venture capital fund will support space sector start-ups, fostering innovation. These projects signify the government's commitment to infrastructure, economic growth, and cultural accessibility.Read more

04 Nov 2024

Cochin International Airport Ltd (Cial) and Kochi Metro Rail Ltd (KMRL) are set to collaborate on a 3-kilometre underground metro line and station at Nedumbassery, as part of Kochi Metro's Phase-III expansion from Aluva to Angamaly. The proposed underground station will connect directly to the airport, similar to Delhi Metro's Airport Express Line. This extension, which follows National Highway-544 and key local roads, is projected to cost around INR 8,000 crore, with Cial expected to contribute about INR 1,000 crore for the underground section. Approval from the Union Ministry of Housing and Urban Affairs is awaited, with cost-sharing details under review by Cial's board.Read more

04 Nov 2024

Four key stations on India's first bullet train route between Mumbai and Ahmedabad-Virar, Thane, Sabarmati, and Surat-are set for transformation under the SMART development plan. This initiative will turn these stations into hubs of activity, improving connectivity and integrating with metro, bus, and taxi services to streamline commuter transitions. In alignment with Transit-Oriented Development (TOD) principles, the areas around each station will feature offices, hotels, and healthcare facilities within walking distance, fostering self-sustaining urban communities and economic growth. Supported by NHRCL, ministries, and JICA, this project aims to create accessible, vibrant spaces that enhance commuter experience and boost local economies.Read more

01 Nov 2024

Housing and Urban Development Corporation Ltd (HUDCO) has pledged INR 11,000 crore for the construction of Amaravati greenfield capital city in Andhra Pradesh. Municipal Minister P Narayana met with HUDCO's CEO, Sanjay Kulshrestha, to discuss the state's development plans, leading to HUDCO's agreement to support the Andhra Pradesh Capital Region Development Authority (AP CRDA). The total funding required for Amaravati Phase-1 is INR 26,000 crore, with the World Bank and Asian Development Bank (ADB) already committing INR 15,000 crore, ensuring the financial foundation for this ambitious project is now secure.Read more

01 Nov 2024

The Uttar Pradesh government has introduced a new e-auction scheme for institutional plots, aiming to boost the integrated development of Greater Noida. The Greater Noida Industrial Development Authority (GNIDA) is offering 13 plots across key sectors, including KP-05, MU, ETA-02, and Techzone-4, with a total reserve price of INR 170 crore. These plots, ranging from 1,000 to 10,005 square metres, are designated for schools, hospitals, vocational training centres, and other educational institutions. Applications are open until November 18, while the scheme also includes commercial shops, offices, and kiosks.Read more

01 Nov 2024

The Kerala government is fast-tracking the Special Investment Region (SIR) Bill for legislative approval in the upcoming assembly session, aiming to implement land pooling in Thiruvananthapuram amid growing investor interest linked to Vizhinjam Port. Chief Minister Pinarayi Vijayan has instructed the revenue and local self-government departments to provide feedback on the proposed Bill, which will be reviewed by the law department before reaching the state cabinet. Plans also include the Outer Area Growth Corridor (OAGC) and the development of logistics and health tourism hubs, paving the way for industrial expansion and economic growth in the region.Read more

31 Oct 2024

The Managing Director of Madhya Pradesh Metro Rail Corporation Limited (MPMRCL), S. Krishna Chaitanya, conducted an inspection of the Bhopal Metro priority corridor, focusing on the AIIMS Station to DRM Office Station and Subhash Nagar depot. During the visit, Chaitanya reviewed project progress and discussed coordination efforts with officials, consultants, and contractors. The metro corridor is expected to be completed by mid-2024, following a successful trial run in September 2023. Senior officers and key stakeholders participated in the inspection, emphasizing the importance of timely completion and stakeholder collaboration.Read more

31 Oct 2024

The Bandra Kurla Complex (BKC) coastal road, a 2.2-kilometre signal-free bypass alongside the Mithi River, is expected to open by the end of November, aiming to reduce traffic congestion in Mumbai's business hub. Constructed at a cost of INR 4 crore, this road connects the MTNL junction to the R2 MMRDA ground near the BKC connector bridge. While the road will help ease traffic, entry and exit bottlenecks remain a concern. With BKC experiencing increased traffic due to corporate expansions, the coastal road is a much-needed development. However, ongoing infrastructure projects like Mumbai Metro Line 2B will be crucial for long-term traffic solutions.Read more