Category: Latest Stories

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InfrastructureLatest Stories

ADB Approves $190M Loan for Indore Metro Project

NEW DELHI: The Asian Development Bank (ADB) has approved a USD 190 million loan to support the Indore Metro Rail Project, a significant initiative aimed at improving urban mobility, reducing pollution, and fostering inclusive growth in Madhya Pradesh, as stated in a company press release. The project will fund the construction of an 8.62-kilometre underground metro line featuring seven stations, connecting congested areas of Indore to the airport. Designed with modern standards, the metro will offer accessibility features such as ramps, lifts, CCTV surveillance, and emergency response systems for elderly individuals, women, children, and persons with disabilities. “Indore’s rapid urbanization…

CommercialLatest Stories

Maharashtra Cabinet Greenlights Policy to Double Global Centres by 2030

AI-generated image (representative) NAGPUR: On Tuesday, the state cabinet approved a new policy aimed at attracting investments in Global Capacity Centres (GCCs). The initiative emphasizes Tier-2 and Tier-3 cities such as Nagpur, Nashik, and Chhatrapati Sambhaji Nagar, with a goal of increasing the number of GCCs in the state to 800. This policy, effective from 2025 to 2030, seeks to draw in investments totaling ₹50,600 crore and create 400,000 new jobs. Currently, Maharashtra is home to 400 GCCs that employ 400,000 individuals. With this decision, Maharashtra joins other states like Gujarat, Karnataka, Madhya Pradesh, and Uttar Pradesh in having a…

InfrastructureLatest Stories

Jaipur Civic Body Orders Owners to Vacate 16 Unsafe Buildings

JAIPUR: The Jaipur Municipal Corporation (JMC) Heritage has issued notices to the owners of 16 unsafe buildings in the Walled City, demanding that they vacate within 24 hours. Additionally, parts of two unsafe structures were demolished and sealed temporarily after residents were relocated. Repair orders were also served to the owners of nine buildings. Officials stated that personnel from the building construction branch have been assigned to monitor the situation continuously. Deputy Commissioner of Hawa Mahal Amer Zone, Seema Chaudhary, emphasized, “These measures are essential to prevent accidents in Amer, Brahmapuri, and Gangapol, especially during heavy rains. The corporation will…

CommercialLatest Stories

Gurugram Council Demolishes Illegal Commercial Structure

GURUGRAM: On Wednesday, the Municipal Corporation of Gurugram (MCG) demolished a commercial building belonging to Congress member Rajesh Yadav and his brother in Sector 68. The demolition, which was overseen by the district town planner and a duty magistrate, escalated into a tense situation as Yadav confronted the enforcement team. According to District Town Planner (DTP) RS Batth, the structure was built on 1,000 square yards without the necessary approvals and was operating as a commercial facility. Batth noted that a furniture showroom, numerous offices, and other businesses were running from the site. As an earthmover dismantled the building, Yadav…

Latest StoriesResidential

Delhi: Signature View Apartments to Face Power, Water Outage

NEW DELHI: Civic agencies are set to terminate essential services, including water and electricity, to Signature View Apartments on October 13. During a meeting held by the MCD on Monday, it was revealed that the Delhi High Court has mandated a deadline for residents to vacate by October 12. Under the leadership of Civil Lines zone deputy commissioner Anshul Sirohi, instructions were given to Tata Power Delhi Distribution Limited (TPDDL) to finalize disconnection of electricity by October 13, along with a directive to the Delhi Jal Board (DJB) to suspend water services. Police officials from Mukherjee Nagar were asked to…

InfrastructureLatest Stories

Navi Mumbai Airport Opening Set for October 8

MUMBAI: The Navi Mumbai International Airport is set to open on October 8, as announced by Adani Group Chairman Gautam Adani on Wednesday. The airport recently received its aerodrome license from the Directorate General of Civil Aviation (DGCA) on Tuesday and is being developed in multiple phases by Navi Mumbai International Airport Ltd. The Adani Group holds a 74% stake, while the Maharashtra government’s CIDCO has the remaining 26%. “In preparation for the opening of Navi Mumbai International Airport on October 8, I had the honor of meeting with our diverse team, including construction workers, women staff, engineers, artisans, firefighters,…

Latest StoriesRera

Delhi RERA Includes 2008 Project After Partial OC from MCD

GURUGRAM: The Delhi Real Estate Regulatory Authority (RERA) has mandated state-run NBCC Ltd to register its NBCC Plaza Complex at Saket—a completed property where allottees received possession 17 years ago—as an ‘ongoing project’ under the RERA Act of 2016. This directive, issued by a majority bench led by Chairperson Anand Kumar and Member Ajay Kumar Kuhar, followed a complaint from Gurgaon-based Rajeshwari Realty Pvt Ltd, one of the major stakeholders in the project. The complaint highlighted that NBCC failed to execute conveyance deeds, form an association of allottees, and manage common areas—key obligations outlined under the RERA framework. The bench…

IndustryLatest Stories

Official: Self-Regulation Key for Insolvency Pros and Valuers

NEW DELHI: Corporate Affairs Secretary Deepti Gaur Mukerjee emphasized the need for insolvency professionals and valuers to establish a robust self-regulation mechanism, underscoring the significance of insolvency law during her address at the ninth annual day of the Insolvency and Bankruptcy Board of India (IBBI). Mukerjee noted that there is still a considerable journey ahead regarding the Insolvency and Bankruptcy Code (IBC), as public expectations are quite high. The IBC, introduced in 2016, aims for a market-driven and timely resolution of distressed assets. Currently, over 4,500 insolvency professionals and 6,000 valuers are registered under this Code. While she asserted that…

Latest StoriesRera

Telangana RERA Fines Three Developers for Project Delays

HYDERABAD: The Telangana Real Estate Regulatory Authority (TGRERA) has imposed fines on three developers for delays in project delivery and other violations of the Real Estate (Regulation and Development) Act. The orders were issued on September 29. In the first case, Sumit Kumar Soni and Ranjana Bansal from Gachibowli filed a complaint against Jayathri Infrastructures Pvt Ltd regarding the ‘Sky Exotica’ project in Gopanpally. They claimed they paid Rs 30 lakh but received neither a refund nor an allotment, and construction never began. The authority ordered the developer to refund the total amount with a 10.8% annual interest from the…

IndustryLatest Stories

Delhi Government Starts Circle Rate Revision, Invites Feedback

NEW DELHI: The Delhi government has initiated the process to revise land circle rates in the city and is inviting public suggestions on this matter, officials announced on Wednesday. The last revision of circle rates in Delhi occurred a decade ago in 2014. “The Government of NCT of Delhi is currently revising the circle rates (minimum property valuation rates) for various property categories across Delhi,” stated a circular released on Wednesday by the revenue secretary and divisional commissioner. This revision aims to align the notified rates with current market conditions and promote transparency in property transactions, the circular noted. The…