23 Sep 2024

The Madhya Pradesh Industrial Development Corporation (MPIDC) plans to build residential complexes for workers in industrial areas such as Ujjain and Bhopal. The initiative aims to address the housing needs of employees who work far from city centers, particularly in key industrial zones like Pithampur. The project will start with the construction of 1,362 flats in Pithampur, costing INR 211 crore, and will include EWS units, studio apartments, and 2 BHK and 3 BHK flats. This move aims to create self-sustained industrial ecosystems, reduce commute times, and support local industries.Read more

23 Sep 2024

The Brihanmumbai Municipal Corporation (BMC) has announced a INR 1,481 crore project for a transportation and commercial hub at the Dahisar octroi naka site. Covering 18,604 square metres, the hub will accommodate 450 interstate buses and 1,400 cars and feature recreational, retail, and hospitality amenities. It aims to act as a central terminus connecting with BEST buses and the Metro to ease traffic congestion. Strategically located along the Western Express Highway, it will serve buses from Gujarat, Rajasthan and northern states. The BMC's plan includes integrating commercial spaces to ensure the project's financial feasibility. Previously, the BMC declined transferring the land to the Dharavi Redevelopment Authority, citing its importance for civic projects.Read more

20 Sep 2024

This is the fourth attempt in six years to develop the Sabarmati Riverfront, as the Sabarmati Riverfront Development Corporation Limited (SRFDCL) has released a Request for Proposal (RFP) for two excellent plots on the riverfront. Situated on both the east and west banks, the plots are reserved for mixed-use commercial and recreational enterprises; residential developments are not permitted. Two plots are available for purchase: WGN-05, which is 4,420 square meters and costs INR 23,676 per square meter, and EGN-01, which is 3,045 square meters and costs INR 20,833 per square meter. The RFP is open for applications from September 13 to October 15.Read more

20 Sep 2024

NBCC (India) Limited and Mahanagar Telephone Nigam Limited (MTNL) have signed an MoU to develop a 13.88-acre site on Pankha Road, New Delhi, valued at approximately INR 1,600 crore. The project aims to create a modern blend of residential and commercial spaces, utilizing NBCC's construction expertise and MTNL's strategic assets. This partnership reflects the growing trend of public-private collaborations in India's real estate sector, focusing on revitalizing urban areas and optimizing underutilized assets. The development promises to significantly enhance New Delhi's real estate landscape with high-quality amenities.Read more

20 Sep 2024

A recently released report by Colliers India indicates a shift in India's office market from "Supply-led" to "Occupier-driven" signalling imminent growth. Demand from GCCs and domestic-origin occupiers will remain strong, boosting the market over the next 2-3 years. While the top six cities dominate, tier II cities are emerging as key growth hubs. Engineering, manufacturing, and BFSI sectors are expected to lease 11-12 million sq ft of office space annually between 2025-27, up from 8-9 million sq ft previously. Flex spaces will expand, accounting for 15-20% of leasing. Bengaluru leads, but Hyderabad, Chennai, and Pune are gaining traction. Rental rates vary, with premium CBD spaces favoured by BFSI, while engineering and manufacturing firms balance central and peripheral locations.Read more

19 Sep 2024

The Noida International Airport, initially set to open in September, is now projected to commence operations by April 2025 due to steel procurement delays. During a review meeting, Chief Minister Yogi Adityanath emphasized resolving construction issues at the government level and warned of a daily INR 1 million fine on the airport concessionaire, YIAPL, if further delays occur. With land acquisition for Phase 2 underway, the project's completion remains a priority, focusing on connectivity, infrastructure readiness, and addressing farmer concerns. The airport's phased development aims to enhance regional growth and connectivity.Read more

19 Sep 2024

Last week, the Ahmedabad Municipal Corporation (AMC) demolished over 35 illegal structures in the Sarkhej Ward. Despite issuing notices under Section 260 of the Gujarat Provincial Municipal Corporation (GPMC) Act, 1949, and sealing the construction sites, developers did not comply. Consequently, the AMC proceeded with the demolition in coordination with Sarkhej police. The operation targeted unauthorized residential row houses and commercial units near Hid Park and Masjid-e-Abeda, resulting in the dismantling of 17 residential and 18 commercial units.Read more

19 Sep 2024

The Maharashtra government has launched its first student housing project in Tardeo, utilising a building owned by MHADA. This initiative, part of a new housing policy, aims to provide modern studio apartments for students in high-demand cities like Mumbai, Pune, and Nashik. The policy will also address senior citizen living, student accommodation, and affordable housing. The government plans to attract private developers by offering incentives such as extra floor space index (FSI) and reduced premiums. Discussions are ongoing with top developers, NGOs, and medical facilities to manage and operate these projects.Read more

18 Sep 2024

The Uttar Pradesh government has launched an ambitious plan to transform Noida into a vibrant, self-reliant, and liveable urban community. The plan aims to develop a diverse range of industries and advanced civic amenities, positioning Noida as a modern city with cutting-edge urban facilities. The New Okhla Industrial Development Authority (NOIDA) has initiated the process of selecting a knowledge partner to assist in forming a dedicated task force that will oversee the execution of this transformative project. The government's vision is to rebrand Noida not just as an industrial hub but as a dynamic city that caters to its young population and offers a high quality of life.Read more

18 Sep 2024

Gujarat has achieved significant progress in housing development under the Pradhan Mantri Awas Yojana (PMAY), completing over 14 lakh houses, including 8.68 lakh under the urban scheme and 5.57 lakh in rural areas. Launched in 2015, PMAY aims to provide housing for economically weaker sections, with Gujarat leading in providing over 600,000 individuals their first housing loan under the Credit Link Subsidy component. The state has been recognized with 14 awards for its PMAY implementation, highlighting its effective initiatives to improve living standards and serve as a model for others.Read more