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

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