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

07 Nov 2024

The Chief Minister of Tamil Nadu, M. K. Stalin, and Union Urban Affairs Minister Manohar Lal recently reviewed the Chennai Metro Rail Phase 2 project, which is set to cost INR 63,246 crore. The central government will finance nearly 65 per cent of this amount, including a loan of INR 33,593 crore. Currently, Phase 1 serves over 310,000 passengers daily across 54.1 km. Phase 2, once operational, will extend the network to approximately 172 km. Key officials participated in the review, highlighting ongoing efforts to expedite the project and seek funding for additional Metro projects in Coimbatore and Madurai.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

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

06 Nov 2024

The Nagarashraya Samiti for Mangaluru City North is moving forward with finalising the beneficiary list for houses to be built under the Pradhan Mantri Awas Yojana (PMAY) in Idya village. To prioritise those genuinely interested in the program, the Samiti will remove individuals who have not paid their instalments or submitted the necessary documentation. MCC Commissioner Anand CL has urged those affected to complete their requirements by November 30 at the Urban Poverty Alleviation Cell. Essential documents include application copies, caste and income certificates, voter ID, Aadhaar cards, and payment proof, with failure to comply resulting in the loss of their beneficiary status.Read more

06 Nov 2024

The Social Impact Assessment (SIA) for the proposed Sabarimala Greenfield Airport project has reached a key milestone, with a survey on the social effects of land acquisition in Manimala and Erumely panchayats completed. Conducted by a 15-member team from Bharat Mata College since October 9, this assessment follows the cancellation of a previous report by the Centre for Management Development due to a court order. Approximately 1,039.876 hectares of land, impacting 221 families in the Cheruvelli estate and 362 families outside it, are set for acquisition. A public hearing will allow affected families to voice their concerns, with feedback incorporated into the final report. The project aims to enhance connectivity and boost tourism in Kottayam, creating economic opportunities while emphasising the need for fair compensation and community engagement.Read more

06 Nov 2024

The Jaipur Metro Railway Corporation Limited (JMRCL) has decided to discard previous Detailed Project Reports (DPRs) for Line 2 and is preparing two new reports, with the Rail India Technical and Economic Service (RITES) assigned to the task. This decision follows the earlier DPR's revision, which reduced the project cost but compromised essential elements. Key adjustments are needed for the metro corridor's alignment due to ongoing traffic projects. JMRCL aims to ensure that the new designs align with long-term traffic growth projections, reflecting its commitment to sustainable urban transport solutions for Jaipur.Read more

05 Nov 2024

Kochi Metro Rail Ltd (KMRL) is improving public transport in Kochi with the construction of a new Metro station at Vazhakkala as part of the Pink Line project, which will connect Palarivattom to Kakkanad Junction. The land acquisition process for Vazhakkala has begun, with notifications issued for approximately 0.2078 hectares in Kanayannur taluk. The Pink Line will feature 11 stations over 11.2 kilometres, serving key areas like Jawaharlal Nehru Stadium and Infopark, enhancing travel efficiency. KMRL's expansion aligns with sustainable urban development goals, aiming to reduce traffic congestion and promote public transport use while contributing to local economic growth through improved connectivity.Read more

05 Nov 2024

Bollywood legends Amitabh and Abhishek Bachchan have invested INR 24.95 crore in residential properties in Mulund West, Mumbai, within Oberoi Realty's project, Eternia. The acquisition includes ten apartments, totaling 10,216 sq. ft., with Abhishek securing six units for INR 14.77 crore. This investment continues the family's trend of significant real estate transactions, accounting for over 25% of celebrity deals in the Mumbai Metropolitan Region since 2020. In 2024, they have invested over INR 100 crore across various properties. Their portfolio reflects a strategic focus on prime real estate, aligning with the growing demand for luxury housing in Mumbai.Read more

04 Nov 2024

Cochin International Airport Ltd (Cial) and Kochi Metro Rail Ltd (KMRL) are set to collaborate on a 3-kilometre underground metro line and station at Nedumbassery, as part of Kochi Metro's Phase-III expansion from Aluva to Angamaly. The proposed underground station will connect directly to the airport, similar to Delhi Metro's Airport Express Line. This extension, which follows National Highway-544 and key local roads, is projected to cost around INR 8,000 crore, with Cial expected to contribute about INR 1,000 crore for the underground section. Approval from the Union Ministry of Housing and Urban Affairs is awaited, with cost-sharing details under review by Cial's board.Read more