16 Aug 2024

Gujarat International Finance Tec-City (GIFT City) has joined forces with the National Forensic Sciences University (NFSU) to establish a Centre of Excellence (CoE) in Corporate Forensics. This MoU, signed by Tapan Ray of GIFT City and Dr. JM Vyas of NFSU, focuses on international arbitration, fraud investigation, and cybersecurity. The CoE will develop training programs, facilitate faculty exchanges, and host workshops to address the growing need for expertise in these fields. This strategic partnership aims to bolster the skills of professionals and support GIFT City's growth as a global financial hub.Read more

15 Aug 2024

The Airport Authority of India has finalised Bhopal airport's master plan, set to be implemented in three stages: Phase 1, Phase 2, and Ultimate Capacity by 2047. To reach ultimate capacity, the runway will extend to 4000 metres, requiring 65 acres of additional land, pending state government approval. This expansion is crucial for future air traffic growth. Phase 1 will enhance existing infrastructure, including terminal expansion and new parking areas. Phase 2 will add taxiways, aprons, and hangars. The final phase will fully extend the runway, allowing larger aircraft and new routes. This promises economic benefits and improved passenger experiences.Read more

15 Aug 2024

Global Capability Centres (GCCs) have leased 53 million sq. ft. of office space in India from 2022 to mid-2024, with Bengaluru leading at 40% market share. GCCs accounted for 37% of total office leasing activity in the first half of 2024, driven by increases in the BFSI sector, which rose to 22% of the market. Bengaluru's success is attributed to its large tech workforce and start-up ecosystem, while Hyderabad, Chennai, and Pune also saw significant leasing. The demand for engineering, IT, and BFSI skills highlights India's growing role as a key global business hub.Read more

15 Aug 2024

The CAG's compliance audit report highlighted that in March of 2018, the Railway Ministry had approved an MoU between the Rail Land Development Authority (RLDA) and IRCON. The plan was formulated to generate non-fare revenue for the 2017-18 fiscal year by transferring the land lease development rights to Public Sector Undertakings (PSUs) in exchange for an upfront lease premium. The report also suggested that this decision was made without proper consideration and due diligence, leading to significant financial implications for the railways. The CAG emphasised that the approach was not adequately thought through, resulting in a substantial loss of revenue.Read more

14 Aug 2024

Hyderabad-based CtrlS Datacenters Ltd. has acquired a land parcel worth INR 400 crore in Patna to develop a new data center with a 10MW IT load capacity, capable of housing over 1,000 racks. This will be the company's second facility in Patna, located just 300 meters from its existing DC1 center. Facilitated by the Bihar Industrial Area Development Authority (BIADA), this expansion underscores CtrlS's commitment to growing its presence in Patna. The company, one of Asia's largest rated-4 datacenter operators, aims to establish over 20 Edge Data Centers across Tier-2 and Tier-3 cities. Founder and CEO Sridhar Pinnapureddy highlighted the project's potential to attract investment and create employment in Bihar, praising the state government's supportive policies. CtrlS also has ambitious expansion plans across India, including a INR 2,200 crore project in Kolkata and a recent DC-3 launch in Hyderabad.Read more

14 Aug 2024

The HD-BRTS has announced a INR 3 crore development project on a 7,250 square metre site near Navanagar Bus Stop, set to significantly enhance the area. This major initiative will include a food court with 12 stalls, a transit plaza with seating and a garden, a children's park with toys and safety features, and a traffic park designed to educate kids about traffic rules with interactive models. Aligned with the Transit-Oriented Development (TOD) principles, the project aims to create sustainable, walkable urban spaces. R. Gudaraddi, HD-BRTS's general manager, and local resident Basavaraj Jamboti both support the high-quality execution of this transformative project.Read more

13 Aug 2024

The Uttar Pradesh Government plans to develop Harnandipuram, a new 1,300-acre township named after the Hindon River, marking its first major project in 15 years. This project comes under the CM Urban New City Expansion Scheme. The township will stretch from Pipeline Road to Northern Peripheral Road and Morti. Land acquisition from nearby villages will cost GBP 50 million, shared by the state and the Ghaziabad Development Authority. The GDA will also create 116 plots from 300,000 square metres of unsold land. The Board also approved plans for Wave City and infrastructure projects like Medi City and Aerocity.Read more

12 Aug 2024

Dharavi, Asia's largest slum, is set to undergo a transformative redevelopment project worth USD 3 billion, led by the Adani Group. The newly formed association of Dharavi residents, the Citizen and Society Development Welfare body, has lent its support to the ongoing state government-led survey of informal tenements, a crucial step for the project. The survey aims to map the densely populated 600-acre area and determine the eligibility criteria for rehabilitation under the proposed redevelopment plan. The Dharavi Redevelopment Project (DRP), in collaboration with Dharavi Redevelopment Project Private Ltd (DRPPL), a joint venture between the Government of Maharashtra and the Adani Group, is spearheading the transformation. The plan ensures that all qualifying tenement holders are offered homes of up to 350 square feet, addressing the complex land ownership and tenure patterns that have hindered previous redevelopment efforts.Read more

09 Aug 2024

YEIDA is launching a project with 19 housing plots near Noida Airport, in Sectors 17, 18, and 22D. The project aims to meet housing demand driven by Noida International Airport and regional industrial development, creating at least 25,000 flats across affordable to luxury units. Plot prices range from INR 32,375 to INR 35,612 per square metre. CEO Arun Vir Singh expects increased housing demand from new industrial projects, with plans for 30 more group housing plots. CREDAI NCR leaders highlight the project's potential to balance supply-demand disparities and attract diverse buyers due to the new industrial corridor.Read more

08 Aug 2024

Prime Minister Narendra Modi recently inaugurated the third phase of the Goregaon Mulund Link Road (GMLR) in Mumbai, a key project aimed at connecting the Western Express Highway (WEH) and Eastern Express Highway (EEH). Spanning 12.20 kilometres, this phase will reduce travel time from 90 minutes to 25 minutes and is set to be completed by November 2028 at an estimated cost of INR 14,000 crore. The project includes major tunnels under Sanjay Gandhi National Park, designed to cut carbon emissions by 22,400 tons annually. The GMLR will alleviate traffic congestion and boost Mumbai's infrastructure.Read more