Tag: Indore

IndustryLatest Stories

Indore: 533 Locations to Merge; Rates Could Rise by 200%

INDORE: The district administration and registration department are in the process of consolidating the Collector’s guideline rates for the financial year 2026-27. This involves the rationalization of locations, merging 533 existing ones to streamline property registration. Currently, document registration in Indore spans across 4,840 designated locations. The new proposal aims to consolidate 533 neighboring locations into clusters of 3 to 4 colonies, which would reduce the total number of locations by approximately 350, ultimately targeting a reduction to around 3,000. Senior Registrar Amaresh Naidu mentioned that varying registration rates within the same area lead to technical issues and revenue loss.…

InfrastructureLatest Stories

Bhopal and Indore Master Plan for Metro Region on Hold

BHOPAL: Plans for the master development of Bhopal and Indore are currently on hold as the Madhya Pradesh government aims to finalize metropolitan region strategies for the two cities, as confirmed by a state minister earlier this week. The plans were completed approximately a year and a half ago but may be revised to align with forthcoming metropolitan area proposals. Urban development and housing minister Kailash Vijayvargiya shared these updates with the state assembly on February 24. “Our department finished the master plan about a year and a half ago; it is ready,” Vijayvargiya mentioned. He also noted recent discussions…

IndustryLatest Stories

Delayed Policy Execution Hinders Investment: NAREDCO Chair

INDORE: Delays in the implementation of urban development policies are hindering growth and discouraging private investments, stated Dr. Niranjan Hiranandani, Chairman of NAREDCO, during a discussion on Friday. He highlighted issues related to master planning and stamp duty structures in Madhya Pradesh. “If policies are passed but executed with delays, development will stagnate and investments will decline,” he explained, noting that uncertainty in planning frameworks adversely affects capital flow into real estate and infrastructure. He pointed out that the Development Plan for Bhopal expired in 2005 and a revision is still pending. Similarly, Indore’s master plan expired in 2021. “This…

InfrastructureLatest Stories

Indore: 16 Homes to Be Demolished for Metro Station Next Week

Sure! Here’s a rewritten version of the content: INDORE: Sixteen homes in the Piliyakhal area are set to be demolished next week to make way for a proposed underground Metro station near Bada Ganpati. The rehabilitation process for the residents of Bada Ganpati is progressing rapidly as the project unfolds. Senior administrative officials reported that the Metro management has suggested relocating the affected families to flats constructed under the Pradhan Mantri Awas Yojana in the Tapti Complex at Rangwasa. A sum of Rs 1.29 crore has been deposited with the district administration for the allotment of flats to the 16…

CommercialLatest Stories

Indiqube Spaces Reports ₹17.06 Crore Net Loss in Q3 FY26

NEW DELHI: Indiqube Spaces has reported a net loss after tax of ₹17.06 crore for the quarter ending December 31, 2025, according to a filing with the BSE. The company’s total net income for Q3 FY26 reached ₹411.09 crore. Rishi Das, co-founder and CEO, stated, “With a healthy EBITDA margin of 21% in Q3 FY26, we are optimistic about continued stability in our margins and anticipate a strong closing for the financial year in Q4.” The debt-to-equity ratio improved to 0.15 in Q3 FY26, down from 0.80 in Q3 FY25. ROCE increased to 23% in Q3 FY26, compared to 15%…

InfrastructureLatest Stories

Survey urges holistic rethink of development control rules

NEW DELHI: India’s urban areas are at a pivotal point, as highlighted by the Economic Survey 2025-26, which emphasizes that the nation’s urban narrative currently reflects an “unfinished promise.” To fully harness the capabilities of these “engines of growth,” the report advocates for a comprehensive reassessment of development control regulations (DCR) and a strategic overhaul in urban financing and governance. Central to this shift is the imperative to recognize cities as “critical economic infrastructure” rather than just living spaces. The survey points out a notable “governance deficit,” suggesting that while major global cities operate with autonomy, Indian cities often prioritize…

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,…