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VB Probe Looms Over Manimajra Housing Project in Chandigarh

Sure! Here’s a rewritten version of the content, maintaining key details and clarity: — CHANDIGARH: The Municipal Corporation (MC) has initiated a high-value housing project in Manimajra with a reserve price of approximately Rs 800 crore, raising significant concerns due to the lack of a formal policy for allocating 15% of housing units to the Economically Weaker Section (EWS), as required by the Ministry of Housing and Urban Affairs (MoHUA). This issue is notably sensitive given the ongoing Vigilance investigation into the Uppal Housing Society in Manimajra. Though launched in 2005, the society did not construct or allot any EWS…

Trial Run for Metro Lines 4 and 4A in Thane: Faster Travel Ahead

THANE: On Monday, the trial run for Phase I of Metro Lines 4 and 4A took place in Thane, Maharashtra. Chief Minister Devendra Fadnavis highlighted that this project will significantly decrease travel times across the Mumbai Metropolitan Region. Fadnavis, accompanied by Deputy Chief Minister Eknath Shinde and state Transport Minister Pratap Sarnaik, rode the Metro along a 4-km stretch from Gaimukh junction to Vijay Garden. In a statement to reporters, Fadnavis noted, “We aim to complete this Metro route by the end of next year. While some work may extend into the subsequent year, this will ultimately constitute the largest…

WeWork India Struggles on Trading Debut Amid Valuation Woes

BENGALURU: WeWork India Management shares made their trading debut on Friday, closing down 3% and valuing the co-working space provider at approximately 84.25 billion rupees (around $950 million). Investors expressed concerns regarding high valuations and governance issues. The shares opened just above the IPO offer price of 648 rupees before dipping as much as 5.2% to 614.25 rupees. The company, which licenses its brand from the now-bankrupt WeWork Global, raised approximately $338.16 million in its IPO, which was subscribed 1.15 times, largely driven by institutional interest. “Investors are uncomfortable with the valuation, and WeWork is feeling the pressure,” commented Aishvarya…