17 Sep 2024

GMR Airports Infrastructure (GIL) recently announced a share purchase agreement with Fraport AG to acquire its 10% stake in Delhi International Airport (DIAL) for USD 126 million. This deal will increase GIL's stake in DIAL from 64% to 74%, with the Airports Authority of India (AAI) retaining a 26% share. The transaction is pending approval from AAI and GIL's shareholders and is expected to close within 180 days. BS Raju of GMR Group acknowledged Fraport's significant technical support and partnership. The acquisition is deemed a related party transaction under SEBI regulations, with no other promoter interests in DIAL.Read more

17 Sep 2024

The Ahmedabad Municipal Corporation (AMC) is set to revolutionise its Transferable Development Rights (TDR) management by integrating blockchain technology. Moving away from error-prone manual processes, the new system will use blockchain to digitise TDRs, enhance transparency, and prevent fraud. The initiative will also extend to digital issuance of various certificates and licences. Key features include automated smart contracts, a public verification portal, and a comprehensive audit trail. Additionally, Optical Character Recognition (OCR) and e-signatures will streamline document processing and approvals, ensuring a secure and efficient system.Read more

16 Sep 2024

Dholera Special Investment Region (SIR) in Gujarat is emerging as a major destination for real estate investors, drawing annual investments between INR 2,000-3,000 crore primarily from north Indian regions like Punjab, Haryana, Delhi, Gurugram, and Noida. The project is being developed through a joint initiative between the Centre and Gujarat state government and is managed by DICDL. The project is nearing completion of its first phase, which has boosted investor confidence. The partnership between Tata Electronics and Synopsys for a semiconductor plant in Dholera further highlights the area's potential as a future hub for technological and industrial development.Read more

12 Sep 2024

CapitaLand Investment (CLI) plans to invest 1.15 billion USD in India's data centers, aiming for a 244 MW capacity over 3-4 years. The Singapore-based company targets doubling its funds under management (FUM) in India to 7.4 billion USD by 2028. Investments will focus on business parks, IT parks, logistics, and warehouses, while also exploring renewables and real estate private credit. CLI operates across major Indian cities and is developing four data centers. The company's strategic growth includes raising third-party capital, joint ventures, and expanding its lodging portfolio. India remains a key market, with significant potential for future growth.Read more

11 Sep 2024

The feasibility study for South India's first interstate metro project, extending 23 km from Bommasandra to Hosur, is nearing completion despite facing opposition. Chennai Metro Rail Limited (CMRL) has sought support from Bangalore Metro Rail Corporation Limited (BMRCL) for project implementation. The study, conducted by Balaji RailRoad Systems, examines crucial factors like ridership, train types, and station alignments. Though the Tamil Nadu government funded the feasibility report, BMRCL may contribute during the implementation phase. Hosur, a major industrial hub, faces severe traffic congestion, which the metro aims to alleviate.Read more

11 Sep 2024

Interarch Building Products Ltd is investing INR 95 crore to establish a pre-engineered building (PEB) manufacturing plant in Nellore, Andhra Pradesh. The company has inaugurated Phase 1, a 4-acre facility costing INR 40 crore, funded by internal accruals, which will enhance its capacity by 20,000 tonnes annually. Phase 2, recently groundbreaking, will span 6 acres and increase the total capacity by 40,000 tonnes to 200,000 tonnes per year. This phase, covering 200,000 square feet, is expected to be operational in 7-8 months with an investment of INR 57 crore.Read more

10 Sep 2024

The Greater Noida Industrial Development Authority (GNIDA) has unveiled a new scheme offering 22 commercial plots, ranging from 1,500 to 19,000 square metres, through an e-auction. With the upcoming Noida International Airport driving land demand, this initiative presents a rare opportunity for realtors. Registrations began on 29 August 2024 and will close on 19 September 2024. The plots, located in prime sectors, vary in Floor Area Ratio (FAR), offering flexibility in development. Allotments will be leasehold for 90 years, with the revenue directed towards Greater Noida's infrastructure development.Read more

10 Sep 2024

Andhra Pradesh Chief Minister N. Chandrababu Naidu has unveiled ambitious plans to develop Amaravati into an Artificial Intelligence (AI) city, emphasising technology integration in urban planning. Naidu's vision includes a futuristic design for the Capital Region Development Authority (CRDA) building, a revived HappyNest residential project, and expanded land acquisition of 3,558 acres. Additionally, Naidu plans to enhance transport infrastructure with Metro projects in Vijayawada and Visakhapatnam, involving investments of up to INR 17,400 crore. These initiatives aim to position Amaravati as a leading smart city, driving innovation and investment in the region.Read more

10 Sep 2024

In the first half of 2024, flexible office spaces captured their highest share of total office leasing volumes, rising to 12.7% from 10.2% in 2019, according to a report by Cushman & Wakefield and Table Space. This growth reflects a shift in business preferences post-pandemic, with demand for flexible offices surging-106,554 seats were filled in H1 2024 alone. The IT sector leads this trend, accounting for 50% of flexible workspace absorption. The expansion of flex offices, driven by the need for adaptable and cost-effective work environments, positions 2024 as potentially a record year for this sector.Read more

09 Sep 2024

Chennai is set to boost its ornamental fish trade with a new centre in Kolathur, inaugurated by Chief Minister M.K. Stalin. Covering 3.93 acres in Siva Sakthi Colony, the two-storey facility will include 188 shops, office spaces, and parking, aimed at transforming Kolathur into a major fish trading hub. This development is part of a broader INR 1,000 crore North Chennai Development Scheme, which includes six additional projects like community halls, modern laundry hubs, and lake improvements. The initiative seeks to enhance infrastructure and local amenities, supporting both economic growth and community well-being in the region.Read more