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The general committee overseeing Delhi Gymkhana Club on Monday urged the Centre not to disrupt the functioning of the institution, even as it emerged that three notices were sent to the club management since September last year over pending ground rent dues of around Rs 48 crore. Sources in the Union Housing and Urban Affairs Ministry said that the last notice was sent in April, just weeks before the the eviction order issued on May 22. Some members of the club on Monday alleged that they had not been informed in advance about the unpaid dues. According to sources aware of the developments, the Land and Development Office (L&DO) had asked the club several times to deposit the pending ground rent through notices sent in September last year, March 2026 and April 2026. In April this year, the L&DO cautioned that if the dues were not cleared within a week, it would proceed with steps to reclaim the property and resume possession of the club premises. Meanwhile, in the letter to ...
Real estate doyen K P Singh has urged Prime Minister Narendra Modi to set up a high-powered cabinet rank committee to prepare a blueprint for the development of urban infrastructure in all major cities that can support USD 5 trillion economy. The urban master planning should not be for a short-term but for 100 years, the 95-year-old Singh said in an interview with PTI on the occasion of the launch of his second book 'Why the Heck Not?'. His autobiography 'Whatever the Odds' was released by Jack Welch, the former Chairman and CEO of GE, in November 2011. Singh, the Chairman Emeritus of realty major DLF, described the current state of urban infrastructure as "horribly wrong" and said there was a need for "drastic steps" as India is growing and soon going to become the third largest economy in the world. Referring to traffic mess in cities including IT city Gurugram which he built and high pollution level, Singh said these are large issues and "it needs attention in my view of the ...
Finance Minister Nirmala Sitharaman on Sunday underlined the need for embracing innovative strategies to attract private investment, bridge financing gaps and foster sustainable development of infrastructure in cities. Addressing the 'G20 Infrastructure Investment Dialogue', the minister said that the situation with regard to financing infrastructure has become even more challenging in the wake of monetary policy tightening in key markets. The tight monetary policy leads to the hardening of interest rates and the burgeoning debt repayment burden. Against this backdrop, she said, "Innovative financing and funding mechanisms for cities could have significant potential to fill the increasing (funding) gaps. "It can complement the pool of funds available for infrastructure in addition to public investment and financing provided by Multilateral Development Banks (MDBs), she added. "We need alternate solutions to leverage private sector participation in this context. Innovative financin