26 Sep 2023

Gujarat International Finance Tec-City Company Ltd (GIFTCL) has announced plans for a dynamic social infrastructure zone spanning approximately 20.5 acres within GIFT City. This development will include entertainment, recreational, and retail facilities, as well as a massive Ferris wheel called the "GIFT Eye." The Ferris wheel, projected to reach 158 meters in height, aims to redefine the city's skyline. GIFTCL has invited bids for this ambitious project, with strict financial and experience criteria in place for potential bidders. This endeavour is expected to breathe life into GIFT City, solidifying its position as a global fintech and business hub.Read more

26 Sep 2023

The Uttar Pradesh Urban Development Ministry has recently granted approval for a 750-acre township in Paratpur, Meerut. Spearheaded by the Meerut Development Authority, this project is located near the Delhi-Meerut rapid rail transit system, with an estimated land cost of Rs. 2,000 crore. The government has pledged 50% of this amount as a long-term, interest-free loan. This visionary project aligns with the impending completion of the Rapid Rail Transit System (RRTS) by 2025, aiming to optimize residential, commercial, and recreational spaces near transportation hubs. It will significantly ease daily commutes to Delhi, Noida, and Gurgaon, while also enhancing property values and expediting infrastructure development along the rail corridor.Read more

23 Sep 2023

The approval of Delhi Master Plan 2041 is anticipated to unlock a substantial USD 100 billion economic opportunity over the next two decades, driven by increased development activities and private sector investments. Delhi Consortiums, specializing in real estate advisory and development under the plan, is leading this initiative. Policies like the Green Development Area Policy and Land Pooling Policy, especially in areas bordering developed sectors, have garnered investor interest. This transformative project will position Delhi as a key services hub, unlocking real estate opportunities across 165 villages and increasing per capita income significantly.Read more

23 Sep 2023

Despite grand promises and an estimated Rs 300 crore generated from land sales, Bhopal's Smart City Development Corporation Limited (BSCDCL) finds itself far from achieving its goals eight years into the project. Residents continue to grapple with non-functional LED streetlights, leaving certain areas in darkness. BSCDCL's focus on land monetization and a lack of progress in implementing essential features have fuelled frustration. Controversies over tree felling, outsourced projects, and political setbacks have further hindered the dream of a smart Bhopal. As another state election looms, the smart city project remains a symbol of unfulfilled aspirations.Read more

22 Sep 2023

Visakhapatnam Metropolitan Region Development Authority (VMRDA) is embarking on a significant project, constructing 46 reconstituted (RC) layouts over approximately 1,215 acres for farmers who participated in the land pooling process for one-cent layouts. The initiative comes at a cost of around Rs 200 crore. This follows the pooling of 5,000 acres for one-cent layouts in the combined Visakhapatnam district, with VMRDA undertaking the responsibility to create these layouts. Notably, VMRDA has already developed 83 one-cent layouts, covering over 4,800 acres, benefiting around 1.42 lakh homeless individuals.Read more

22 Sep 2023

The Bhubaneswar Development Authority (BDA) is embarking on six new town planning schemes in Chandaka and Pahala areas to facilitate the holistic development of the city. Previously, BDA completed four similar schemes in Tamando and Chandaka, involving the acquisition of private plots from landowners and their subsequent development in an organized manner. These initiatives covered multiple villages and spanned approximately 1,596 acres. The BDA has a larger vision, with plans to execute 45 town planning schemes across 58 revenue villages, covering a total area of 9,171 acres, signifying a commitment to urban development and infrastructure enhancement.Read more

21 Sep 2023

The MSRDC is set to monetize 24 land parcels along the Pune-Mumbai expressway to fund major infrastructure projects like the Samruddhi expressway, Pune Ring Road, and others. These 450 hectares of land will be leased for 99 years, offering a sustainable revenue source. MSRDC possesses 189 hectares in Pune and 262 hectares in Raigad, with some land parcels owned by the corporation and others designated by the government. Tenders have already been floated, providing opportunities for developers to create amenities or residential complexes near the expressway, aligning with the growing trend of wayside investments.Read more

20 Sep 2023

Mumbai bid a bittersweet farewell to its iconic red double-decker buses on September 16, 2023. These beloved vehicles, which had graced the city's streets for over 80 years, were not just a means of transport but had also become cultural symbols featured in Bollywood films and songs. Their open-top design offered passengers panoramic views of Mumbai. Although outdated and inefficient, they held a special place in the hearts of residents. In their stead, 25 modern battery-powered double-decker buses have been introduced to enhance transportation and reduce emissions. The retired red double-decker buses will be remembered as a cherished part of Mumbai's history.Read more

20 Sep 2023

DevX, a managed office space provider in Gujarat, is partnering with Nila Infrastructure to construct Deakin University's India campus in GIFT City. The 25,000-square-foot futuristic campus will be designed and built by DevX with support from JLL India, which facilitated the transaction. Deakin University aims to deepen its engagement with India by opening this campus, marking a historic opportunity to provide world-class education to one of the fastest-growing economies. The collaboration showcases DevX's capabilities and highlights the potential for increased demand for various property offerings, including student housing, retail, commercial spaces, and amenities tailored to the student community.Read more

18 Sep 2023

Defence Minister Rajnath Singh inaugurated 90 border infrastructure projects worth Rs 2,900 crore by the Border Roads Organisation (BRO) across 11 states and Union Territories in northern and north-eastern regions. These projects encompass 22 roads, 63 bridges, a tunnel, two airstrips, and two helipads, including the vital Nechiphu Tunnel in Arunachal Pradesh and airfields in West Bengal. Since 2021, a total of 295 projects valued at around Rs 8,000 crore have been dedicated to the nation. Rajnath Singh praised the BRO's swift construction using advanced technology, highlighting their role in securing borders and fostering socio-economic development in remote areas.Read more