12 Nov 2024

The Andhra Pradesh government is reigniting hopes for residents in Nellore district by fast-tracking the establishment of a new airport near Dagadarthi. Approximately 1,379 acres of land have been earmarked for this project, with efforts underway to acquire the remaining land. Chief Minister Chandrababu Naidu has convened meetings with key officials to ensure completion of new airport initiatives within three years. The Dagadarthi airport, a long-awaited development, received preliminary approval in 2016. With industrial growth anticipated in the region, local officials highlight the airport's potential to significantly enhance economic prospects and connectivity.Read more

12 Nov 2024

The Greater Visakhapatnam Municipal Corporation (GVMC) is partnering with the International Finance Corporation (IFC) to create the Eco-Vizag Green City Action Plan (GCAP), which aims to integrate climate mitigation strategies into local initiatives. The draft plan proposes 42 measures across key sectors, including energy, transportation, and waste management, with a potential 30% reduction in greenhouse gas emissions by 2034. High-impact initiatives include promoting electric vehicles and enhancing building codes. GVMC plans to refine the draft with input from local stakeholders, positioning the GCAP as a vital part of its broader Eco-Vizag campaign for sustainable development.Read more

11 Nov 2024

The Rail Land Development Authority (RLDA) has announced the bidding process for 23 premium commercial units at the Commercial Complex in Gomti Nagar, Lucknow, through a Mega E-Auction. Interested bidders can download e-bid documents until November 12, 2024, with online applications due the same day. The complex features two G+4 towers, modern amenities, and excellent connectivity to key locations, making it an attractive investment opportunity as Gomti Nagar evolves into a significant commercial hub.Read more

11 Nov 2024

The Delhi Development Authority (DDA) will begin bookings for over 2,500 newly constructed flats under the second phase of the Sasta Ghar Housing Scheme on November 14. Designed for economically weaker sections (EWS) and lower-income groups (LIG), the flats are priced from INR 11.5 lakh, with various offerings across locations like Rohini, Dwarka, and Narela. Following the successful first phase, the DDA aims to meet the rising demand for affordable housing. The initiative includes enhancements to local amenities, with plans for green spaces and maintenance by local municipal bodies, promoting a healthier living environment for residents.Read more

11 Nov 2024

One month into the initial operation of Metro 3's Aqua Line, connecting Aarey JVLR to Bandra Kurla Complex, ridership has topped 600,000, with an average of 20,000 daily commuters. The 12.44-km stretch saw its highest ridership on the first Sunday after launch, with 27,108 passengers. Key routes include Bandra Kurla Complex to Marol Naka and SEEPZ to Marol Naka, where intersecting lines have also boosted traffic. Nine trains currently run at 7.30-minute intervals, soon to be reduced to 6.40 minutes if demand holds. Upcoming retail spaces and the National Common Mobility Card launch by December 2024 will enhance commuter convenience further.Read more

08 Nov 2024

NBCC (India) has announced a major initiative to develop and redevelop various projects in Goa, with an estimated investment of around INR 10,000 crore, phased for efficient resource management. The first phase includes six projects valued over INR 1,700 crore, covering notable locations such as Junta House and M.G. Road. Additionally, NBCC will conduct a feasibility study for redeveloping the Vasco bus stand and will act as the project management consultant for future state-funded initiatives, ensuring a collaborative approach with the Goa government.Read more

08 Nov 2024

TIDEL Park in Madurai is set for completion by January 2026, as confirmed by state minister T R B Raja during his site visit. Covering 5.34 lakh square feet, the park will create approximately 5,000 direct and 1,000 indirect jobs, reducing the need for local job seekers to travel to Chennai for IT roles. This initiative is part of Tamil Nadu's broader strategy to decentralise IT opportunities and promote regional growth, alongside similar projects in Karaikudi and Tuticorin. Additionally, a new Sipcot project aims to attract larger companies, further enhancing Madurai's industrial landscape and employment prospects.Read more

08 Nov 2024

Federal Bank has acquired a 1.01 lakh square feet office space across five floors in the VIOS Tower, Wadala, Mumbai, for approximately INR 330 crore, marking a strategic move to enhance its urban presence. This purchase, including 145 car parking spaces, aligns with the bank's growth trajectory, as it reported a record net profit of INR 1,057 crore for the quarter. The VIOS Tower, part of the New Cuffe Parade project, reflects a broader trend of financial institutions consolidating operations in central hubs due to rising demand for office spaces. This acquisition underscores the evolving dynamics of Mumbai's commercial real estate market.Read more

07 Nov 2024

The Noida Authority plans to begin land acquisition for the New Noida project following the state government's approval of its master plan. Designed as the Dadri Noida Ghaziabad Investment Region (DNGIR), the new urban hub will span about 20 villages in Gautam Budh Nagar and 60 in Bulandshahr, addressing Noida's saturation and facilitating investment arrival into the National Capital Region (NCR). The development will occur in four phases, starting with 3,165 hectares by 2027, and will allocate 40% of the land for industrial use. This initiative is expected to enhance economic growth, particularly with the upcoming Noida International Airport in Jewar.Read more

07 Nov 2024

Bollywood actor Sunil Shetty and his son Ahan Shetty recently purchased a 1,200-square-foot property in Mumbai's Khar West for INR 8.01 crore through a bank auction. The transaction, finalized earlier this month, included a stamp duty of INR 40.08 lakh. Additionally, Amitabh and Abhishek Bachchan made headlines for acquiring ten apartments worth INR 24.95 crore in Mulund. The Mumbai property market continues to attract celebrities, with notable investments from stars like Sara Ali Khan and Kartik Aaryan, driven by high rental yields and capital appreciation in both commercial and residential sectors.Read more