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

25 Sep 2024

The Punjab Government recently raised INR 2,945 crores through an online auction of residential and commercial properties across the state. The auction, covering various property types such as group housing, commercial land, shops, and multiplexes, was well-received by the public. Chief Minister Bhagwant Mann credited the success to the government's investor-friendly policies and confirmed that all proceeds will be reinvested into development initiatives. Approved bidders will be required to make a 10% deposit, with possession granted upon payment of 25% of the total bid value. The auction reflects strong public interest in both residential ownership and business opportunities.Read more

25 Sep 2024

The Brihanmumbai Municipal Corporation (BMC) has issued an INR 918 crore tender to construct two flyovers connecting Ghatkopar, Mankhurd, and Vashi to ease traffic. One flyover will extend from the Ghatkopar-Mankhurd Link Road (GMLR) towards Vashi, while the other will connect the Sion-Panvel highway to GMLR. Concerns have arisen over the flyovers' alignment with the ongoing Metro Line 8 project. The flyovers aim to reduce congestion and improve connectivity in key Mumbai areas.Read more

25 Sep 2024

Brookfield Asset Management plans to increase its investment in Indian infrastructure, building on the USD 13 billion already committed, viewing India as the "brightest spot" in emerging markets. Arpit Agrawal, head of Brookfield's infrastructure operations in India, highlighted the firm's focus on digitalisation, decarbonisation, and deglobalisation, which align well with India's growth. Brookfield is exploring new investments in fibre optics, smart meters, and gas pipelines, alongside its existing stakes in telecom towers and data centres. Agrawal also emphasized India's favorable economic conditions, including predictable currency depreciation. Brookfield manages nearly USD 29 billion in Indian assets and sees continued growth opportunities.Read more

24 Sep 2024

The Vadodara-Mumbai Expressway in Maharashtra is about 60% complete and is set to be fully operational by July 2025. This eight-lane expressway will connect key hubs, including the Mumbai-Goa highway, Navi Mumbai International Airport, JNPA, and the Mumbai-Pune Expressway. Managed by the National Highway Authority of India's Thane unit, the project features segments like a 2.25 km Sasupada-Ghodbunder bridge and a 26.4 km stretch in Palghar, both nearing completion. The Morbe tunnel excavation is complete, with another tunnel planned. While some parts, like the Acchad-Dahisar underpass, lag behind, the project promises to enhance connectivity across Maharashtra.Read more