30 Sep 2024

A state-appointed panel has inspected only two of 30 integrated township projects in Maharashtra, both in Nagpur, despite its mandate to assess water availability, construction progress, amenity spaces, and economical housing provisions. Delays in the construction of promised amenities were found, with significant work yet to begin, particularly in Pune and Konkan. Residents have raised concerns about inadequate water supply, with many relying on tankers. The committee plans to report water issues to the government and verify compliance with the state's township policy. Experts express concerns over the slow pace of inspections ahead of the assembly elections later this year.Read more

30 Sep 2024

The supply of new residential properties in Delhi-NCR is projected to triple to 13,311 units during July-September 2024, compared to 4,147 units in the same period last year, according to PropEquity. This surge is driven by strong demand and increased developer activity. Housing sales in the region are expected to rise 22%, reaching 10,263 units from 8,411 units last year. However, across nine major cities, including Delhi-NCR, new launches are set to decline to 93,693 units, down from 1,05,655, while sales may drop 18% to 1,04,393 units, reflecting broader market trends.Read more

27 Sep 2024

Macrotech Developers has acquired Ivanhoe Warehousing India's stakes in three digital infrastructure entities-Bellissimo Digital Infrastructure Development Management, Palava Induslogic 4, and Bellissimo In City FC Mumbai 1-for a total of INR 239.56 crore. The acquisition increases Macrotech's ownership to 70% in Bellissimo Digital Infrastructure and 66.67% in both Palava Induslogic 4 and Bellissimo In City FC Mumbai 1. This move aligns with Macrotech's strategy to expand its digital infrastructure presence in the industrial and logistics sectors while also boosting annuity income. Macrotech expects to close the deal within 30 days.Read more

27 Sep 2024

The Pimpri Chinchwad Municipal Corporation (PCMC) has conducted a comprehensive survey of the blue floodline areas across the twin cities, identifying over 2,500 structures. The civic body has already served notices to the owners of more than 50% of these establishments, with plans to initiate a demolition drive against unauthorized constructions. This survey, the first of its kind, focuses on constructions in all blue floodline areas, marking the zones where the highest flood discharge of the river reaches on an average of every 25 years. The survey reveals that most of the structures are located along the Pavana river, with over 60% being residential in nature.Read more

27 Sep 2024

The Madhya Pradesh Industrial Development Corporation (MPIDC) has allocated nearly 3,000 plots under the land pooling scheme in Sector 7, Pithampur, including 2,900 residential and 95 commercial plots. The industrial sector, spanning over 2,000 hectares, is being developed at an estimated cost of INR 2,400 crore, with 1,351 hectares to be acquired from private landowners. While MPIDC has secured 450 hectares, it continues to seek consents from reluctant landowners. Additionally, 350 hectares from the forest department may be included. Compensation consists of 20% cash and 80% in developed plots. The project aims to promote industrial and residential growth.Read more

26 Sep 2024

The Karnataka Government is tackling the complex task of acquiring 85,000 acres for satellite townships around Bengaluru. The Karnataka Housing Board (KHB) needs 10,000 acres for five townships, while the Bangalore Metropolitan Area Development Authority (BMRDA) requires 75,000 acres for its five townships. Balancing development with farmers' interests, as many depend on their land for their livelihoods, is crucial. Challenges include high land costs, scarcity, and potential governance changes. The government is working to build consensus through raitha adalats and innovative compensation models. Despite these efforts, the future of the townships remains uncertain and needs careful management.Read more

26 Sep 2024

Daikin Industries has invested INR 1,400 crore in its Indian subsidiary to enhance local manufacturing of air conditioners and components. This significant capital infusion, the largest to date, comes as part of their ongoing business expansion, particularly for phase two of their Sri City plant in Andhra Pradesh. The funds will be allocated for construction, research and development, skill development, and brand building, aiming to increase the localisation of their products from 75% to nearly 90%. Daikin competes in the INR 30,000 crore Indian air conditioner market alongside Tata-owned Voltas, LG Electronics, and Havells-owned Lloyd.Read more

26 Sep 2024

The Mumbai Metropolitan Region Development Authority (MMRDA) signed a Memorandum of Collaboration (MoC) with the World Economic Forum (WEF), marking it as the first parastatal agency to do so. The partnership aims to advance sustainable urban development and enhance economic growth in the Mumbai Metropolitan Region (MMR), projecting its GDP contribution to reach INR 300 billion by 2030. It emphasises global expertise, job creation, and infrastructure innovation, while supporting Maharashtra's climate goals. Prof. Klaus Schwab highlighted the MoC's potential to position Mumbai as a leading global city.Read more

26 Sep 2024

Sanjay Shirsat, the newly appointed chairman of the City and Industrial Development Corporation (CIDCO) aims to transform leasehold land in Maharashtra into freehold, addressing long-standing demands from Navi Mumbai residents. He took office earlier this week, succeeding a position that had been vacant for four years. While residents advocate for freeholding, CIDCO maintains that acquired land remains leasehold. Shirsat pledged to seek government support and emphasised the importance of timely project completion, focusing on the interests of those affected and the broader community in Navi Mumbai.Read more

25 Sep 2024

The Uttar Pradesh government recently greenlit the ambitious YEIDA Master Plan 2041, set to transform the region surrounding the Noida International Airport in Jewar. Covering 3,352 sq km across six districts, the plan includes mega projects such as a medical device park, semiconductor park, olympic park, and an aerotropolis. With zoning reforms and enhanced infrastructure, the plan aims to balance industrial growth with urban development, positioning the region as a global hub.Read more