Tag: Indore

CommercialLatest Stories

Indore: IT Park 3 & 4 Office Space Sales Launching This Year

INDORE: The sale of office spaces in the upcoming IT Park-3 and IT Park-4 in Indore is set to commence in 2026. This initiative is part of the Madhya Pradesh Industrial Development Corporation’s (MPIDC) effort to enhance technology infrastructure, catering to the rising demands from IT and service sectors. IT Park-3, with an investment of approximately Rs 530 crore, will cover nearly 11 lakh sq ft. It is designed as a plug-and-play facility with high-speed digital connectivity and a walk-to-work model, targeting industries in fintech, artificial intelligence, data analytics, and IT-enabled services. MPIDC’s Indore region executive director, Himanshu Prajapati, stated…

CommercialLatest Stories

Six Commercial Plots Secured in Pithampur’s Sector 7

Representative AI image INDORE: The Madhya Pradesh Industrial Development Corporation (MPIDC) has allocated land to six owners under the land pooling scheme, part of the development of the Sector 7 industrial belt in Pithampur. The allocation process involved 47 commercial plots valued at ₹47 crore, following an invitation for applications from landowners. Two owners opted for alternative locations, which will be allotted later, while seven others who could not attend will be included in a lottery supervised by officials. Himanshu Prajapati, executive director of MPIDC Indore, stated, “Any remaining compensation will be promptly settled with the allocation of residential plots…

Latest StoriesResidential

Indore Aims for Slum-Free Status in Five Years

Representative AI image INDORE: The state government has set an ambitious goal to transform Indore into a ‘slum-free’ city within the next five years. As part of this significant urban development initiative, the city plans to construct over 16,000 housing units in the next three years under the Pradhan Mantri Awas Yojana (PMAY) 2.0. The overarching objective of the PMAY 2.0 scheme is to build 1.5 lakh housing units in Indore. “The construction aims to develop around 1.5 lakh pucca houses across three categories: flats constructed by IMC for affordable rental housing, and individual houses that qualify for subsidies or…

CommercialLatest Stories

MPIDC Secures Approval for 300 Hectares in Indore-Pithampur Corridor

Representative image INDORE: The Madhya Pradesh Industrial Development Corporation (MPIDC) has secured agreement from landowners for approximately 300 hectares as part of the land pooling initiative for the planned 19.60 km Indore–Pithampur Economic Corridor, marking a major milestone in this high-value infrastructure project. The estimated cost of the corridor exceeds Rs 2,400 crore and is designed to enhance connectivity between Indore and Pithampur, a key industrial hub in the state. Officials stated that the corridor encompasses a total planning area of 1,177 hectares, comprising 954 hectares of private land across 17 villages and 222 hectares of government land. To date,…

Latest StoriesRegulatory

NCLAT: Creditors Can Appoint Liquidator, Not NCLT

NEW DELHI: The authority to appoint a liquidator for a company in debt undergoing insolvency procedures lies solely with the Committee of Creditors (CoC), not the National Company Law Tribunal (NCLT), in instances where a Resolution Professional has not provided written consent, as per the National Company Law Appellate Tribunal (NCLAT). In a ruling concerning two similar cases where the NCLT had appointed liquidators for two struggling companies, the NCLAT overturned those decisions, emphasizing that “only the CoC has the authority to select a candidate to replace the RP.” The NCLAT clarified that while the NCLT serves as the designated…

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…

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…

IndustryLatest Stories

Indore Property Survey Controversy: Mayor Halts Drive for SOP

INDORE: A significant controversy arose over the Indore Municipal Corporation’s (IMC) ward-wise property tax survey late Saturday evening, leading to a standoff at the Bhanwarkuan police station and multiple FIRs. The situation prompted political intervention, with cabinet minister Kailash Vijayvargiya calling for an emergency meeting. The conflict began in Ward 74, where IMC mobilized staff from 22 zones for a property tax assessment. On Saturday, an altercation occurred between area revenue officer (ARO) Shailendra Singh and local politician Sunil Hardia (the husband of a corporator) along with his son. This led to a confrontation at the Bhanwarkuan police station. An…

Latest StoriesResidential

Shubhashish Homes Achieves ₹250 Crore in H1 FY26 Pre-Sales

NEW DELHI: Shubhashish Homes, the real estate division of JK Jajoo Ventures, has recorded pre-sales exceeding ₹250 crore in the first half of FY 2025-26, surpassing last year’s total of ₹211 crore. The company is on track to meet its pre-sales goal of ₹400 crore for the year. CEO Mohit Jajoo remarked, “As we look ahead, we are making significant progress in Indore and Prayagraj, and pending timely approvals, we plan to launch these projects in Q4 FY26.” Published On Oct 14, 2025 at 04:28 PM IST Join the community of 2M+ industry professionals. Subscribe to our Newsletter for the…

CommercialLatest Stories

Bids for IT Park 4 in Indore Opening This Month

INDORE: The Madhya Pradesh Industrial Development Corporation (MPIDC) is set to invite bids from technology firms in October for space in the much-anticipated IT Park 4. The industries department aims to draw investment from electronics system design and manufacturing (ESDM) companies, data centers, testing labs, and IT offices. MPIDC executive director Himanshu Prajapati stated, “About 70,000 square feet of office space will be available for lease, with a duration of approximately 30 years. This park is designed to enhance the technological landscape in the region and attract investments across various sectors.” Officials confirmed that the formalities for inviting bids are…