27 Jun 2023

The Ghaziabad Development Authority (GDA) faces obstacles in its plans to extend the Vaishali to Electronic City metro corridor, as private land acquisition poses a hurdle and could inflate project costs. The proposed 5.8km corridor, estimated at Rs 1,166 crore, necessitates the acquisition of land in Niti Khand and Ramprastha, impacting the alignment. Additionally, the state government's rejection of funding proposals for other metro extension projects led GDA and the Delhi Metro Rail Corporation (DMRC) to propose a new corridor to connect Vaishali and Electronic City. A meeting is scheduled between GDA and DMRC to discuss the route and potential realignments.Read more

26 Jun 2023

The Himachal Pradesh cabinet has approved the final draft of the Shimla Development Plan, which introduces new regulations for building construction. The plan allows for specific floor and attic allowances based on different areas within Shimla. However, its implementation is subject to the approval of the National Green Tribunal (NGT), which has imposed restrictions on construction activities. The cabinet also decided to reorganize the recruitment process, with the Himachal Pradesh Public Service Commission taking over responsibilities previously held by the disbanded Himachal Pradesh Staff Selection Commission.Read more

26 Jun 2023

The Noida Authority in India has announced plans to establish a start-up hub in Sector 81 Phase 2 to support and encourage budding entrepreneurs. The Authority will lease out built-up spaces to new businesses through an e-auction, with the Old Court Complex's second floor offering over 13,000 square feet of space. The hub aims to attract entrepreneurs from various sectors, fostering small and medium-sized businesses, digital marketing, e-commerce, and online enterprises. The scheme includes incentives such as a six-month moratorium, a 15-year lease duration, and a one-year lock-in period. The e-auction will be conducted with a minimum rent of Rs 32 per square foot.Read more

23 Jun 2023

Telangana has furthered its vision of IT growth in tier-2 and -3 cities with the inauguration of a new IT tower in Siddipet. Seventeen companies have been allotted space in the four-storey building, which can house up to 1,440 tech professionals. The IT Minister, KT Rama Rao, emphasized that these new hubs will drive economic growth and create jobs. He highlighted the 'Telangana model' of balanced and inclusive growth, pointing to the rise in IT exports alongside an agricultural resurgence, reflecting the state's multifaceted development strategy.Read more

22 Jun 2023

The Greater Noida Industrial Development Authority (GNIDA) has introduced a scheme to allocate data center plots, with the application process beginning on June 13 and closing on July 4. Through e-auctions, 13 plots specifically designated for data centers will be sold, aiming to generate approximately Rs 1,000 crore in revenue for the authority. These plots, ranging from 4,047 square meters to 1.07 lakh square meters in size, are located in Knowledge Park-5 and Techzone. Interested parties can access more details and apply via the GNIDA website and the State Bank of India (SBI) portal.Read more

22 Jun 2023

The construction of the Thirumayilai metro station in Chennai, which is a critical interchange station linking corridor-3 Madhavaram Milk Colony to Siruseri Sipcot with corridor-4 Lighthouse to Poonamallee Bypass, has been delayed due to its challenging design. The Thirumayilai station is expected to be the deepest metro station in the city at 35m depth, presenting an engineering challenge. The 118.1km phase-2 project is expected to be ready in stages from 2026 to 2028, and the stretches that will be ready by 2028 include Panagal Park metro to Thirumayilai metro on corridor-4, Thousand Lights metro to Thirumayilai metro, and Greenways Road metro to Thiruamyilai metro on corridor-3.Read more

21 Jun 2023

In a collaborative effort, Navin's, a renowned real estate company, partnered with Vengaivasal Panchayat to establish a state-of-the-art sports park in Medavakkam, Chennai. The Rajappa Sports Park, spanning an impressive 30,000 square feet within the OSR area, offers a diverse range of world-class facilities, from cricket nets and tennis courts to basketball and futsal courts. This initiative reflects Navin's commitment to promoting an active and healthy lifestyle while fostering a sense of camaraderie among residents. The project serves as an inspiration for other organizations to invest in sustainable and inclusive communities, creating spaces that enhance well-being and community spirit.Read more

21 Jun 2023

In Hyderabad's GO 111 region, real estate developers are undeterred by the absence of a master plan from the Hyderabad Metropolitan Development Authority (HMDA). Filing applications for change of land use (CLU) from agriculture to non-agriculture, developers envision creating sought-after gated communities in areas like Janwada, Mokila, Chevella, Ameenpur, and Gandipet. However, concerns arise as structures encroach upon lakes and water channels, prompting experts like BV Subba Rao to emphasize the need for stricter land use regulations. As stakeholders await the release of a comprehensive master plan, the ongoing surge in real estate development highlights the delicate balance between urban growth and environmental preservation.Read more

20 Jun 2023

GIFT City, an emerging global financial hub, witnessed the Shilp Group acquire 500,000 square feet of valuable development rights at a record-breaking rate. The highest acquisition price was previously set by Venus Group. GIFT City increased prices, triggering competitive bidding, and successfully allocated over 10 million square feet of rights despite the pandemic. With comprehensive amenities and a foreign bank presence, GIFT City positions itself as a prominent international financial centre.Read more

PNT Reporter

19 Jun 2023

The Union Government has given its preliminary approval for the establishment of two new townships in Uttarakhand. These projects include an industrial township in the Parag Farm area of Udham Singh Nagar and an integrated township in Doiwala, near Dehradun. The state government aims to transform Parag Farm into a major industrial hub, attracting significant investment and generating employment opportunities. Additionally, an integrated aero township is proposed for Doiwala, taking advantage of its proximity to the airport. A delegation from the Centre is expected to visit the locations for further assessment.Read more