04 Oct 2024

Earlier this month, the Maharashtra government approved acquiring 255.9 acres of environmentally sensitive salt-pan land from the Central government to house individuals excluded from the Adani Group-led Dharavi Redevelopment Project. While the Central government approved the transfer in September, environmental activists and Dharavi residents have opposed it. Salt pans help mitigate flooding, raising concerns about environmental hazards. The land will be used for affordable housing for those ineligible for Dharavi’s redevelopment. Opposition parties claim the plan prioritizes corporate interests over residents' needs. Environmentalists warn of potential flooding, referencing the deadly 2005 deluge, urging the government to reconsider its approach.Read more

03 Oct 2024

Princeton Digital Group has partnered with K Raheja Corp's Mindspace Business Parks REIT to create its largest data centre campus in India at Mindspace Airoli West. The agreement includes a 20-year lease for five buildings across 16 acres, adding one million square feet to Princeton's portfolio. The project will enhance the REIT's total footprint to 1.6 million square feet, supporting the growing demand for data centres in Navi Mumbai, a hub for infrastructure and AI technology.Read more

03 Oct 2024

Rajesh Rathod, Executive Director of MPIDC, announced Ujjain's first IT Park, a major development to enhance the region's tech landscape. Spanning 2.16 hectares, the project will unfold in two phases, with an initial investment of INR 67 crore. The park will house IT enterprises and startups, offering plug-and-play spaces with advanced infrastructure, including an incubation center and research facility. Focused on job creation for local youth, the initiative aims to foster innovation and economic growth. A memorandum between MPIDC and the state's technical education department will ensure alignment with industry needs.Read more

03 Oct 2024

Karnataka's government launched India's first Knowledge Health Innovation Research-City (KHIR-City) on 26 September 2024. Inspired by global hubs like Singapore's Biopolis and the US's Research Triangle Park, this 2,000-acre, INR 40,000 crore project aims to create 1 lakh jobs and foster growth in the health and research sectors. KHIR-City will house universities, hospitals, and industries to drive healthcare innovation and economic development. With an advisory committee of notable experts, the initiative blends global expertise with local talent to position Bengaluru as a global healthcare leader, accelerating research, development, and commercialization in India's healthcare landscape.Read more

02 Oct 2024

Cognizant is set to establish a tech-fin centre in Gujarat International Finance Tec-City (GIFT City), Gandhinagar, by February 2025. This strategic hub will cater to clients in the banking, financial services, and insurance sectors, starting with 500 associates and growing to 2,000. The initiative highlights Gujarat's appeal for global companies and aims to drive sustainable growth while creating local job opportunities. Cognizant's presence in India, with over 70% of its workforce based there, reinforces its commitment to innovation and community enhancement through its various initiatives.Read more

02 Oct 2024

The Delhi Development Authority (DDA) successfully sold all 10 flats in Dwarka during the first day of an e-auction, which included a penthouse and several High-Income Group (HIG) units, all fetching prices above the reserve amounts. The auction will continue for two more days, with expectations that all remaining flats will also sell due to strong demand. This follows the DDA's previous achievements in selling out flats in Rohini and Jasola. Additionally, on August 6, the DDA announced three new housing schemes aimed at addressing the growing housing demand in Delhi and catering to various income groups.Read more

02 Oct 2024

On September 24, Chief Minister Eknath Shinde approved a PMRDA budget of INR 3,838.61 crore, nearly double last year's allocation. During the meeting, he stressed the importance of expert planning for affordable housing in the Pune Metropolitan Region and the need for plenty of open spaces. Shinde called for a lottery for the remaining 1,620 houses under the PMAY scheme and urged the acceleration of 6,000 additional units. Discussions included the regularization of fees under the Gunthewari Act, forming a disaster response team, and constructing new fire stations. PMRDA Commissioner Mhase confirmed INR 982 crore for the comprehensive mobility plan to address traffic congestion.Read more

01 Oct 2024

MPSEDC is preparing to issue tenders for the remaining 12 plots in Sinhasa IT Park by year-end. So far, the corporation has allocated 33 plots to IT and ITES firms, despite eight plots facing encroachment issues. These companies have committed to investing over INR 100 crore and aim to generate employment for approximately 1,500 people. Seven of the allotted companies have already begun operations, while the others are still developing their facilities. MPSEDC has also sold 30,000 square feet of space in the park's building and plans to lease additional sections to various technology-focused enterprises.Read more

01 Oct 2024

Adani Ports and SEZ (APSEZ) handled 183 million metric tonnes (mmt) of cargo from April to August 2024, with a 7% year-on-year growth in Q1 of FY25. However, operations were disrupted by a worker strike at the Gangavaram Port and severe weather issues in Kutch. Despite this, APSEZ maintains its volume target of 460-480 mmt for FY25. APSEZ is focused on expansion, signing an agreement to develop a 5.7 mmt berth at Kandla and acquiring an 80% stake in Astro. The company aims for significant growth, aiming to become one of the world's largest private port companies by 2030.Read more

01 Oct 2024

The Rail Land Development Authority (RLDA) has invited bids for the commercial development of a prime land parcel located north of the Miraj Railway Station in Maharashtra. The strategic location, proximity to the Sangli-Miraj highway, and the area's reputation as a medical hub offer immense potential for the site's development. With a reserve price of INR 8.60 crore and a lease period of 99 years, the plot presents an attractive investment opportunity for businesses and developers seeking to capitalize on Miraj's growing prominence as an emerging medical and commercial hub.Read more