Page 8 - India's Infrastructure

Shapoorji Pallonji Real Estate expects Rs 600 cr from 276 luxury homes

Realty firm Shapoorji Pallonji Real Estate (SPRE) on Thursday launched 276 luxury homes in Pune with an estimated sales value of around Rs 600 crore. In a statement, the company said it has launched the second phase of its project 'Golfland' which is part of a large township 'VANAHA' near Bavdhan, West Pune. "With an estimated revenue potential of Rs 600 crore, the second phase of Golfland responds to the growing demand for upscale residences in Pune," SPRE said. The project will have 276 homes, available to buyers at prices starting at Rs 1.48 crore. In the first phase, the company had launched 276 homes. The township 'VANAHA', spread over 1,000 acres, is a mixed-use development comprising residential, commercial, and retail spaces. To date, the company has sold over 1,800 apartments in this township worth Rs 1,500 crores across mid-segment (Yahavi and Springs) and premium developments (Golfland phase 1). Nirav Dalal, Business Head and Chief Investment Officer, SPRE, said,"The

Greater Noida to soon ink 'Sister City' pact with US' Loudoun County

Greater Noida may soon enter into a 'Sister City' agreement with the US' Loudoun County, in a move that can open the way for large-scale investment, academic and cultural exchanges between them, officials said. A team of representatives from Loudoun County, in Virginia State of the US and some 70 km off Washington DC, was in Greater Noida on Tuesday. During the visit, the American delegation led by Buddy Rizer, executive director of the Department of Economic Development of Loudoun County, met with Greater Noida Industrial Development Authority (GNIDA) CEO N G Ravi Kumar and Additional CEO Medha Rupam. "During the meeting, the two sides held discussions to finalise the terms of agreement for the 'Sister City' pact," the GNIDA said in a statement. A couple of suggestions have been given by both the sides in the draft agreement, following which a memorandum of understanding will be made after taking approval from the government soon," the GNIDA said. According to officials, the Grea

Revamped stations will reflect, promote cultural heritage of city: Vaishnaw

Railway stations are an integral part of culture and people's day-to-day life and these should reflect, protect and promote an area's cultural heritage, Railway Minister Ashwini Vaishnaw said, citing redevelopment projects in Ayodhya and Puri. While the architecture of the facade of the redeveloped station in Ayodhya in Uttar Pradesh embraces tradition in a line with the upcoming Ram temple there, the redeveloped Puri station will reflect the traditional architectural features of the famed Jagannath Temple. "The more you gel a railway station with a city the better it is. Development should be such that cultural heritage should get a place in it. It should be protected and reflected significantly," the minister told PTI in Bhubaneswar on Sunday. He was in the city to review its station's redevelopment. In 2021, the Railway Ministry had launched the Amrit Station Scheme. Under it, 1,309 railway junctions are being redeveloped with a special focus on safety and amenities for ...

US investments in Indian real estate fell 39% to $1.35 bn in 2023: JLL

Investments from American institutions in Indian real estate market declined 39 per cent last year to USD 1.35 billion amid global uncertainties, according to JLL India. During 2022, US-based institutional investors had pumped USD 2.2 billion in Indian real estate. American funds have generally been the biggest investors in Indian real estate market. According to the JLL India report released on Monday, the total institutional investments in Indian real estate rose 14 per cent to USD 5,878 million (USD 5.87 billion) in 2023 from USD 5,151 million in the previous year. The consultant said this reflected India's resilience in the face of global economic headwinds. JLL anticipates investor confidence in the Indian growth story to continue in 2024 as well. In 2023, the largest contributors were foreign institutional investors with 63 per cent share in the total investments. However, the share of inflow from Americas, the conventionally highest contributor in investments, witnessed a

TN delegation to showcase talent pool, robust infrastructure at Davos meet

A delegation led by Tamil Nadu Industries Minister T R B Rajaa will attend the World Economic Forum in Switzerland this week, a few days after the success of securing Rs 6.64 lakh crore of investment commitments at the recent Global Investors Meet in Chennai. This would be the third time that officials of the current DMK government will visit Davos. They participated in the WEF event in 2022 and 2023 under the then Industries Minister Thangam Thennarasu. A series of events have been planned during the visit. This includes showcasing Tamil Nadu as the ideal global investment destination, projecting the success of Tamil Nadu's economic growth and highlighting its journey to become sector-leader in the 'emerging business' vertical, among others. "The 54th annual meeting of the World Economic Forum is centred around the theme of 'Rebuilding Trust' and we cannot build trust without an inclusive and sustainable society. A key objective for us this year is to present our state's highly ..

Major boost for infra in Maha: Modi inaugurates projects worth Rs 30,500 cr

Prime Minister Narendra Modi on Friday inaugurated projects worth more than Rs 30,500 crore during his visit to Maharashtra, including the country's longest bridge and seabridge, the extension of a suburban rail corridor and a mega facilitation centre for gems and jewellery, and laid the foundation stone of a tunnel road in south Mumbai. He first inaugurated the Rs 17,840 crore Atal Bihari Vajpayee Sewri-Nhava Sheva Atal Setu, also called the Mumbai Trans Harbour Link, which will cut the distance between Mumbai and the satellite city of Navi Mumbai from some hours to 15-20 minutes, in the process boosting development in the region, which houses a mega port and also an upcoming international airport. The Atal Setu, which is the longest bridge and seabridge in the country, is 21.8 kilometre long, including a 16.5 portion over sea, and will reduce the distance from the metropolis to the Navi Mumbai International Airport and also cut travel time to major areas like Pune, the state's ...

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Capacit'e Infra raises Rs 200 cr via QIP route for working capital needs

Capacit'e Infra on Friday said that it has raised Rs 200 crore through issuance of Qualified Institutional Placement (QIP). The proceeds from the QIP will be utilised for funding working capital requirements and other general corporate purpose of the company, Capacit'e Infra said in a statement. "Capacit'e Infraprojects announces the successful completion of its fundraise of Rs 200 crore through a QIP. The book was subscribed more than four times and witnessed traction from a diversified set of investors," it said. The company's QIP committee approved the issue allotment of 79,47,546 equity shares of face value of Rs 10 each to 24 Qualified Institutional Buyers (QIBs) at an issue price of Rs 251.65 per equity share (including a premium of Rs 241.65 per equity share). Capacit'e Infra Executive Director Rohit Katyal said, "We witnessed a positive response to our QIP. It reflects the trust investors have in our potential. The funds raised through this QIP shall empower us to accelerat

UP RERA gives 15 days to promoters to submit update on housing projects

Uttar Pradesh real estate regulator UP RERA has issued a 15-day ultimatum to promoters of group housing projects to update quarterly progress reports of their projects on its website. UP RERA Chairman Sanjay Bhoosreddy said a number of promoters fail to file QPRs (quarterly progress reports) of their projects on time and "some of them have filed the subsequent QPRs without filing the pending QPRs". Not updating quarterly progress reports of projects amounts to violation of the relevant provisions of the RERA Act, Bhoosreddy said in a set of directions issued to promoters on Thursday. "Therefore, it has been decided to allow the promoters to file the pending QPRs of their projects as well as the QPR of October to December, 2023 quarter by 15th January, 2024," the order said. As per norms, QPRs are required to be filed within 15 days of the closure of the given quarter. Accordingly, UP RERA has modified the facility on its web portal and from now onwards, promoters will be able to fi

Many new technologies used in construction of longest sea bridge Atal Setu

Prime Minister Narendra Modi will visit Maharashtra today and unveil projects worth over Rs 30,500 crore in the state

$2 bn Atal Setu to boost connectivity with Mumbai amid India's infra push

The 21.8 kilometer bridge, India's longest, will also ease access to the satellite city of Navi Mumbai, where a new airport is under construction by the Adani Group

DPIIT to announce ranking of states, UTs on startup initiatives on Jan 16

The commerce and industry ministry's arm DPIIT on January 16 will announce ranking of states and union territories for 2022 based on initiatives taken for startups, an official said. The exercise aims to evaluate measures taken by states/UTs to boost the startup ecosystem during a specified period. It also aimed at supporting states and Union territories (UTs) in developing their startup ecosystem and learning from each other's best practices. "The ranking is a periodic capacity building exercise developed and released by DPIIT that evaluates states and UTs on their efforts to build an ecosystem conducive to growth of startups," the official said. The major objectives of the ranking exercise are - facilitating states and UTs to identify, learn and replace good practices, highlighting the policy intervention by States and UTs for promoting startup ecosystem and fostering competitiveness among states. The last ranking was released on July 4, 2022 in which Gujarat, and Karnataka were

Will achieve 13,814-km highway construction target this fiscal: Road secy

The Ministry of Road Transport and Highways (MoRTH) is confident of achieving the highways construction target of 13,814 kilometres for the current fiscal, its secretary Anurag Jain said on Friday. Addressing a press conference, Jain further said the total length of national highways in India increased 60 per cent to 1,46,145 km till December 2023, from 91,287 km in 2014, since the Narendra Modi government came into power. "The pace of highway construction in 2023-24 so far has been better than last year, and we are confident of achieving the 13,814-km highway construction target during the current fiscal," he said. Up to December 31, 2023, the ministry has built 6,217 km of national highway, higher than last year's 5,774 km for the same period. According to him, the government is planning to award 10,000 km of national highway projects in 2023-24. Jain also said that the government has asked companies to prepare detailed project reports (DPR) for unawarded identified projects to

NAREDCO plans event to showcase real estate opportunities in Ayodhya

Real estate body NAREDCO on Friday said it plans to organise a builders' conference in Ayodhya to tap its commercial and residential opportunities as the holy city gears up to attract lakhs of tourists post inauguration of the Ram temple on January 22. National Real Estate Development Council (NAREDCO) National President G Hari Babu said there are opportunities to set up hotels, resorts and apartments in Ayodhya as the tourist flow would increase in the coming months. "The entire Indian real estate industry wants to look at Ayodhya ...We want to organise a conference in Ayodhya in the coming months in a big way and call a thousand builders there to showcase the commercial and residential opportunities," he told reporters. On expectations from Budget, Babu said NAREDCO has submitted a representation to the finance ministry seeking "Micro, Small and Medium Enterprises (MSME) status" for small builders and introduction of a scheme for those earning salaries up to Rs 40,000 per ...

REC Ltd, RVNL sign Rs 35,000 crore MoU to finance infrastructure projects

REC will be financing diverse projects including logistics hubs, rail, road, port, and metro over the next 5 years

World needs India to become reliable challenger to China: Anand Mahindra

The world needs India to become a reliable challenger to China's supply-chain dominance, which will provide a great opportunity in 2024 and investment will flow into the country in unprecedented volumes, according to Mahindra Group Chairman Anand Mahindra. In his New Year message, Mahindra also said all signs point to the Indian economy achieving "the mythical lift-off that we have been awaiting, for decades" and predicted that in 2024 "companies that are able to create a portfolio of desirable products both in features and price will face the happy challenge of raising their production to meet demand". Stressing that "a New Year is special because it always symbolises a new beginning", he said, "No matter how dark the year has gone by, the human spirit has an abiding capacity for hope. 2023 was a year characterised by conflict, climate change and a sluggish post-Covid recovery. The year ended with the world crying out for renewal." The first day of the new year opens a new chapter,

Govt sanctions Rs 1,170 crore for road projects in Ladakh: Gadkari

Union minister Nitin Gadkari said the government has sanctioned Rs 1,170.16 crore for 29 roads projects in Ladakh. In a post on social media platform X, Gadkari said Rs 1,170.16 crore has been sanctioned for 29 roads projects, encompassing state highway and other major roads in the Union Territory. Additionally, Rs 181.71 crore has been allocated for 8 bridges under the Central Road and Infrastructure Fund (CRIF) scheme for the fiscal year 2023 24, the road transport and highways minister said. He said Ladakh, the largest Union Territory in terms of area and the second least populous in the country, will witness improved connectivity to its remote villages through the approved initiatives. The enhancement in road connectivity is expected to stimulate economic activities, particularly in agriculture and tourism, contributing to the overall infrastructural development of Ladakh, he added.

States, ministries to make 'checklist' to manage data for Gati Shakti NMP

DPIIT, which is responsible for overseeing Gati Shakti NMP, has also prepared a document - a crucial resource for clarity and data management practices - for relevant stakeholders

Navi Mumbai international airport's commercial launch expected in Dec 2024

The airport is expected to fly 12 million passengers in the first year of operations

Adani, Siemens, GMR, Reliance vying for green mobility project in UP

The state government plans to develop e-charging infrastructure on four expressways -- Bundelkhand, Purvanchal, Agra-Lucknow, and Gorakhpur Link Expressway