Tag: Madhya Pradesh

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…

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…

Latest StoriesRegulatory

MP HC summons Bhopal collector in contempt matter

BHOPAL | JABALPUR: The Madhya Pradesh High Court has summoned Bhopal collector Kaushlendra Vikram Singh to appear on August 25 regarding a contempt petition. This petition concerns non-compliance with a court order issuing a revenue recovery certificate (RRC) for the recovery of ₹70 lakh from a builder, as decreed by the Real Estate Regulatory Authority (RERA). Bhanu Pratap Singh from Gwalior submitted the contempt petition after RERA ruled in his favor, issuing a RRC for ₹70 lakh against a Bhopal builder. The RRC was to be executed by the Bhopal collector, yet there has been no action taken. This prompted…

Latest StoriesRegulatory

Indore Cops File FIR in ₹100 Crore Land Registry Scam

INDORE: A case has been registered in Indore, Madhya Pradesh, regarding an alleged land registry scam estimated at ₹100 crore, based on current market values of certain plots and properties, as stated by a police official on Monday. The district administration established a five-member inquiry panel after uncovering numerous suspicious documents in the record room of the state registration department. This led to the filing of an FIR under sections 420 (cheating) and 467 (forgery of documents) of the Indian Penal Code against unidentified individuals, following the panel’s report. “The FIR was filed at Pandrinath police station late Sunday night…

Housing FinanceLatest Stories

Sundaram Home Finance Q1 FY26 Net Profit at ₹62 Crore

CHENNAI: Sundaram Home Finance Ltd reported a slight drop in its net profits, reaching Rs 62 crore for the quarter of April to June 2025, as announced on Saturday. In the same quarter last year, the company had a net profit of Rs 66 crore. During the reviewed quarter, disbursements increased to Rs 1,488 crore, compared to Rs 1,353 crore during the corresponding quarter last year. The company also noted growth in its Assets Under Management (AUM), which rose to Rs 18,027 crore as of June 30, 2025, up from Rs 14,533 crore a year earlier. In the June quarter,…

IndustryLatest Stories

CM Welcomes Investments in Madhya Pradesh Real Estate

INDORE: Chief Minister Mohan Yadav announced on Friday that the Madhya Pradesh government is dedicated to attracting investments in the real estate sector while ensuring necessary amenities like water, electricity, and transportation. The CM mentioned that the Growth Conclave, titled ‘Next Horizon: Building Cities of Tomorrow’, aims to advance urban development in Madhya Pradesh. He highlighted successful infrastructure projects in Surat and Ahmedabad, proposing the establishment of at least ten similar markets in MP. “Being centrally located, MP possesses excellent potential for the real estate sector,” he remarked. “Two decades ago, MP faced challenges with basic amenities such as water,…

IndustryLatest Stories

Omaxe to invest ₹1,200 crore in 450-acre Indore township

Representative image created by AI NEW DELHI: Omaxe, through its subsidiaries, plans to expand in Madhya Pradesh by acquiring a 450-acre land parcel along the Super Corridor in Indore. The company aims to develop an integrated township on this site with an estimated investment of ₹1,200 crore. The project will be executed in multiple phases and is anticipated to generate ₹2,500 crore in revenue over the next three years. Funding for the project will primarily come from internal accruals. The upcoming township will include a mix of residential plots and clusters, commercial and retail spaces, hospitality areas, as well as…

InfrastructureLatest Stories

Land Pooling Begins for Indore-Pithampur Economic Corridor

AI-generated Representative Image INDORE: The Madhya Pradesh Industrial Development Corporation (MPIDC) has initiated land pooling for the proposed 19.60 km Indore-Pithampur Economic Corridor, which will host commercial and industrial ventures along both sides. This infrastructure project aims to improve connectivity between Pithampur, the airport, and other vital urban areas, thereby facilitating commercial and industrial growth in the state. MPIDC’s Indore Executive Director, Himanshu Prajapati, stated, “The layout for the proposed corridor has been finalized, and we have begun the land pooling process. We have received consents for over 250 acres and are actively collecting documents from landowners.” The corridor will…