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InfrastructureLatest Stories

Indore: 140 Houses Demolished in Malviya Nagar for Roads

INDORE: The Indore Municipal Corporation (IMC) has demolished portions of 140 houses on Street Number 2 in Malviya Nagar to facilitate road widening as part of the Master Plan. This extensive operation aims to remove obstacles for the MR-9 to LIG Link Road, which will function as a parallel route to Ring Road and AB Road between C21 Mall and LIG Square. The IMC deployed five earth movers and five excavators during this operation, successfully clearing the area needed for a 60-foot (18-meter) wide road. While some residents voiced their distress, others recognized the necessity of the broader road, confirming…

IndustryLatest Stories

Maharashtra Cabinet Makes 21 Decisions, Scraps Asset Firm

MUMBAI: In an unprecedented move, the Maharashtra cabinet made 21 decisions in its Tuesday meeting, which included the dissolution of the state’s asset reconstruction company, Maha ARC Ltd., and the approval of a Rs 2,000 crore HUDCO loan guarantee for a transport corridor. The decisions were made shortly before State Election Commissioner Dinesh Waghmare announced that elections for 246 municipal councils and 42 nagar panchayats in Maharashtra are set for December 2, with vote counting scheduled for December 3. An official statement from the Chief Minister’s Office (CMO) confirmed that the Finance Department’s proposal to close Maha ARC Ltd was…

Latest StoriesRegulatory

ED, IBBI Set New Standards for Restoring Assets to Cheated Homebuyers

NEW DELHI: The Enforcement Directorate (ED) announced that the assets of bankrupt companies and their promoters, which were previously attached under anti-money laundering laws, will now be returned to affected parties like banks or homebuyers. This follows the establishment of a new standard operating procedure, as stated by the federal probe agency on Wednesday. The Insolvency and Bankruptcy Board of India (IBBI) issued a circular on November 4 after extensive coordination meetings with ED officials. The coordinated efforts resulted in a “standard undertaking” to be submitted by Insolvency Professionals (IPs) to the special PMLA court for releasing ED-attached assets for…

IndustryLatest Stories

M3M India to Invest ₹7,200 Crore in Delhi Integrated City

NEW DELHI: M3M India is set to invest around ₹7,200 crore to create Gurgaon International City (GIC) on the Dwarka Expressway Link Road in New Delhi. This integrated township, spread over 150 acres with plans for expansion to 200 acres, is projected to generate a revenue of approximately ₹12,000 crore. Pankaj Bansal, the company’s promoter, stated, “Our vision is to draw global corporations and enterprises that epitomize future innovation and sustainable growth.” The initial phase of Gurgaon International City (GIC), covering 50 acres and already RERA-approved, will feature 300 plots. The development will comprise data centers, innovation parks, EV hubs,…

Latest StoriesRegulatory

NCLAT Denies Reliance Realty’s Appeal; Fast-Tracked Liquidation

NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal from Reliance Realty, a subsidiary of the financially troubled Reliance Communications, which sought to reclaim rental payments and assets from Independent TV, a company in the DTH sector now undergoing liquidation. The NCLAT reaffirmed an earlier ruling from the Mumbai bench of the National Company Law Tribunal (NCLT) that rejected Reliance Realty’s request, emphasizing that the liquidation of Independent TV (formerly known as Reliance Big TV) must proceed swiftly and efficiently. A two-member panel stated that the liquidation should not be “disrupted and derailed by the Appellant…

IndustryLatest Stories

Embassy REIT Q2 FY26 Net Operating Income Up 15%

NEW DELHI: Embassy Office Parks REIT announced a 15% rise in its net operating income (NOI), reaching ₹927 crore for the second quarter of this fiscal year. The company’s revenue from operations increased by 13% year-on-year, totaling ₹1,124 crore for the July-September quarter, as per a regulatory filing. The Board of Directors of Embassy Office Parks Management Services Pvt Ltd declared a distribution of ₹617 crore, or ₹6.51 per unit, to unitholders for the second quarter of this fiscal year. The record date for this distribution is November 8, 2025, with payments scheduled on or before November 14, 2025. In…

IndustryLatest Stories

Mindspace REIT’s NOI Up 26% to ₹634 Crore in Q2 FY26

NEW DELHI: Mindspace Business Parks REIT announced a 26% rise in its net operating income (NOI), reporting Rs 634 crore for the second quarter of the fiscal year, up from Rs 504 crore in the same period last year. The company will distribute Rs 355 crore to unitholders for this quarter, which marks a 16.3% increase from Rs 305 crore last year, according to a regulatory filing. Ramesh Nair, CEO and MD of Mindspace REIT, stated, “This quarter, Mindspace REIT maintained its strong momentum with leasing of 0.8 million sq ft and a re-leasing spread exceeding 28%. This reflects robust…

InfrastructureLatest Stories

Indore: Parts of 11 Homes Demolished in Guru Govind Colony

Representative image INDORE: The Indore Municipal Corporation (IMC) demolished 11 structures located between Khade Ganesh Mandir and Nandbagh Colony in the Guru Govind Colony area on Monday to facilitate road widening under the Master Plan. This operation involved taking down the front sections of 11 homes that were obstructing the road construction project. To ensure a thorough job, the removal team used three earth movers and three hydraulic excavators to dismantle the encroachments. The road work, which had been in progress for an extended period, encountered delays due to obstructions from 8 to 10-foot sections of the houses encroaching on…

InfrastructureLatest Stories

Ghaziabad to Create Master Plan for 61 Villages by Expressways

GHAZIABAD: The Ghaziabad Development Authority (GDA) is planning to develop a distinct master plan for the villages that will be included within its jurisdiction. This initiative will cover 61 villages located within 500 meters of both sides of the Delhi Meerut Expressway (DME) and the Eastern Peripheral Expressway (EPE)—with 32 villages along DME and 29 along EPE. An official from GDA stated, “Creating a separate master plan will aid in managing development around these villages. We intend to engage a consultant for its preparation, and it will be integrated into the district’s unified Master Plan 2031. These villages were previously…

InfrastructureLatest Stories

Finish Pune Metro Line III stations by March 2026: CM to PMRDA

PUNE: On Monday, Chief Minister Devendra Fadnavis instructed the Pune Metropolitan Region Development Authority (PMRDA) and its concessionaire to accelerate the completion of the remaining 13 stations of the 23km Hinjewadi–Shivajinagar Metro Line 3, aiming to meet the completion deadline of March 2026. Currently, only 10 of the planned 23 stations have been completed. This directive was issued during a review meeting where Fadnavis evaluated 36 key infrastructure projects across Mumbai, Pune, and Thane. He also directed the revenue department to expedite the transfer of 5 acres of land in Yerawada, which is critical for the viability gap funding of…