Category: Latest Stories

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InfrastructureLatest Stories

Cabinet Greenlights Phase 2(A) of Ahmedabad Metro Project

File Photo NEW DELHI: On Wednesday, the Union Cabinet approved Phase 2(A) of the Ahmedabad Metro Rail project, covering a 6.032-km extension to enhance connectivity between major residential and commercial areas, officials announced. This decision arose from a Cabinet meeting led by Prime Minister Narendra Modi. An official statement noted that the project aims to provide seamless integration with the current Ahmedabad-Gandhinagar Metro corridor. In addition, sports infrastructure is expected to be developed in the nearby regions in preparation for the World Police Games 2029 and Commonwealth Games 2030. Phase 2(A) will consist of four elevated stations and one underground…

IndustryLatest Stories

RBI Sets Final Rules for Easing Bank Loans to REITs, InvITs

MUMBAI: On Wednesday, the Reserve Bank issued final amendment directions that allow commercial banks to lend to Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), while maintaining essential safeguards regarding exposure limits, asset quality, and repayment structures. The final directions incorporate feedback from stakeholders following the draft norms. Key changes include allowing overseas branches of Indian banks to engage in REIT financing through syndication, with specific caps on contributions (20%) and risk weight (150%). The requirement for an insolvency mechanism has been modified to include a broader stipulation for an “effective recovery mechanism” in overseas jurisdictions. The central…

Latest StoriesResidential

DDA Sells 142 Properties, Generates ₹1,300 Crore Revenue

NEW DELHI: The Delhi Development Authority (DDA) successfully auctioned 142 properties, generating Rs 1,321 crore in revenue, as reported by officials on Wednesday. The mega e-auction attracted bids from investors, institutions, and businesses, resulting in robust value realization through competitive bidding. “The e-auction totaled a highest bid of Rs 1,321.21 crores, significantly exceeding the reserve price of Rs 480.38 crores—nearly three times the reserve value—which corresponds to an approximate 175% premium,” the statement said. Since taking office, Lieutenant Governor G Taranjit Singh Sandhu has focused on transforming the capital into a global city characterized by sustainable investment, superior housing, and…

InfrastructureLatest Stories

Ranchi Cracks Down on Illegal Buildings Over Water Bodies

File Photo RANCHI: The Ranchi Municipal Corporation (RMC) has intensified its efforts to clear water bodies and drainage channels of encroachments, conducting a series of demolition and survey operations to ensure these areas are free from illegal occupation. The latest action took place on Monday at Bandhgari in Ward 6, where five illegal structures on government land and drainage channels were demolished. The obstructive structures hindered natural water flow and occupied public land. The demolition was executed by RMC’s enforcement team, which also restored the drains to their original alignment. This operation followed a significant crackdown around Kanke dam, where…

CommercialLatest Stories

Kolhapur to Build 5 Commercial Complexes via PPP

KOLHAPUR: The Kolhapur Municipal Corporation (KMC) is exploring options to establish five to six large commercial complexes through a public-private partnership (PPP). KMC chief Rajendra Bharud has tasked all four divisional offices to pinpoint strategic locations for these commercial spaces, aiming to generate revenue through rentals. Priority sites include the city’s Shingoshi Market, Kombdi Bazaar, Chhatrapati Tararani Market Divisional Office, Central bus stand, Water Park-Bawda, and the rickshaw stands in the Central bus stand area. On Monday evening, Bharud convened a meeting with officials, instructing deputy city engineers from each divisional office to identify key areas in their jurisdictions and…

IndustryLatest Stories

Patna Civic Body Approves Leasehold to Freehold Conversions

PATNA: The empowered standing committee of the Patna Municipal Corporation (PMC) has approved a proposal to transition leasehold residential properties to freehold ownership. Residents in areas such as Rajendra Nagar, Shri Krishnapuri, PIT Colony, and Beur will be eligible for full ownership rights upon payment of a conversion fee set at 10% of the existing circle rate. This proposal was a key discussion point in the 23rd ordinary meeting of the empowered standing committee on Tuesday, during which members ratified 18 agenda items aimed at enhancing municipal administration. Led by mayor Sita Sahu, this policy seeks to address longstanding legal…

Latest StoriesResidential

Ajit Agarkar Sells Mumbai Apartment for ₹4 Crore

NEW DELHI: Former Indian cricketer Ajit Agarkar has sold his residential property located in the Jewel Co-op Housing Society in Bandra West, Mumbai, for ₹4 crore. The property, which has a built-up area of 114.15 sq meters (1,229 sq ft), includes two car parking spaces. The sale was registered in April 2026. Property registration documents reviewed by Square Yards indicate that the transaction entailed a stamp duty payment of ₹24 lakh and registration fees of ₹30,000. Published On Jun 10, 2026 at 11:00 AM IST Join a community of over 2 million industry professionals. Subscribe to our newsletter for the…

CommercialLatest Stories

Trichy to Establish New Industrial Park in Thiruverumbur

sipcot TRICHY: The official notification has been issued for Trichy’s second industrial park in Thiruverumbur, following the establishment of the Manapparai industrial park. The State Industries Promotion Corporation of Tamil Nadu (Sipcot) is actively promoting this initiative to attract potential investors. This industrial estate will be a dedicated land parcel allocated to a single investor within the engineering sector. The industrial park, strategically located near the Olympic training academy on the Trichy semi-ring road, spans 148.9 acres across the Elandapatti and Suriyur villages. While boundary walls have not yet been constructed, the land has been officially designated with entrance signage…

InfrastructureLatest Stories

Two Illegal Colonies Razed in Ludhiana

LUDHIANA: As part of its ongoing campaign against unauthorized real estate developments, the building branch of the Ludhiana Municipal Corporation demolished two illegal colonies that were under construction in MC Zone B on Tuesday. The demolitions took place in Sukhdev Nagar and near Trikona Park, behind Onkar Vihar. Assistant Town Planner (ATP – Zone B) Nirwan remarked that the developers had continued their unauthorized construction despite multiple warnings from the municipal body, making the demolition necessary. In response to these actions, the ATP issued a public advisory encouraging residents to be cautious of fraudulent developers. He urged potential buyers to…

Latest StoriesRegulatory

NGT Flags 20 Bungalows in Pune’s Moi Phata for Demolition

PUNE: Almost a year after the Pimpri Chinchwad Municipal Corporation tore down 36 illegal bungalows in Chikhali for flood-line violations, another 20 residential buildings in the Moi Phata area are now under investigation for their proximity to the Indrayani River’s blue flood line. A joint committee established by the National Green Tribunal (NGT) reported, based on a petition from activist Gopal Kachave in 2023, that all 20 structures are positioned along the Ram Zara nullah, a tributary that connects with the Indrayani. The report indicated that the nullah itself is within both blue and red flood lines, raising alarms about…