Daily Real Estate Newspaper
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The Bhopal metro project reached a critical milestone as a two-acre land clearance operation near Bhopal Railway Station marked a step forward in constructing the city's first underground metro station on the Orange Line. Executed by MPMRCL with local authorities, the operation saw the demolition of 40 shops and structures near Alpana Talkies, with INR 1.23 crore distributed as compensation to displaced parties. Set to connect Karond Circle to AIIMS Bhopal, the Orange Line aims to enhance public transit, linking key residential and commercial hubs. The underground station is a pivotal development toward modernising Bhopal's urban infrastructure.
Author: Vidhi Sangoi
The Kozhikode Light Metro is a transformative urban transit project designed to alleviate traffic congestion and pollution in Kozhikode, Kerala. Spanning 13.3 km with 14 strategically located stations, the elevated metro will connect Meenchanda to Kozhikode Medical College, enhancing connectivity across major commercial and residential hubs. Estimated at INR 2,773 crore, the project aims to provide an eco-friendly, efficient transport system powered by electric trains, contributing to sustainable development. Despite challenges like funding and delays in the Comprehensive Mobility Report, the project is expected to boost local economies, create jobs, and improve urban mobility. Once completed, it could serve as a model for sustainable transport in mid-sized Indian cities.
Author: Mr. Bhavesh Shah, Joint Managing Director, Today Global Developers
Navi Mumbai has emerged as a dynamic commercial hub, driven by strategic infrastructure projects such as the Mumbai Trans Harbour Link, upcoming metro lines, and the Navi Mumbai International Airport, set to open next year. Its affordability, proximity to Mumbai and Pune, and ample land availability make it an attractive alternative to costlier business districts. The region's modern infrastructure has attracted Global Capability Centers (GCCs), large corporate offices, and industrial parks, fueling demand for office spaces and hospitality facilities. With excellent connectivity, a skilled workforce, and rising residential development, Navi Mumbai is set to rival established hubs like Gurgaon and Bangalore as a holistic urban center of the future.
The Andhra Pradesh Capital Region Development Authority (CRDA) has called for tenders for construction projects worth INR 1206 crore as part of the Greenfield Amaravati Capital project. The tenders focus on developing basic infrastructure such as roads, drainage, and water supply in specific zones of the capital region. Bids are due by January 21, with work expected to commence in February. The CRDA is also preparing additional tenders for major constructions, including key government buildings. The residential quarters for government officials, previously halted, are expected to be completed soon, marking a significant milestone.
India has committed INR 29 crore to the rehabilitation of the Karainagar Boatyard in Sri Lanka's Northern Province. The project, undertaken by the Cey-Nor Foundation Ltd under the Ministry of Fisheries, will involve civil works, installation of equipment, and services to revitalise the facility. The rehabilitated boatyard aims to enhance local fishermen's livelihoods, generate employment, and boost the fisheries sector. With a development assistance portfolio of over USD 5 billion, India has undertaken numerous people-focused projects in Sri Lanka, including housing, cultural, and infrastructure developments.
Hyderabad's illegal construction problem has prompted the Greater Hyderabad Municipal Corporation (GHMC) to adopt stringent measures, including technology integration and stricter penalties. Following Telangana High Court orders, GHMC plans to track violations through an online platform, enforce a 400% penalty on offenders, and mark unauthorized structures in encumbrance certificates to deter buyers. Illegal constructions exacerbate urban issues like waterlogging and traffic congestion, often involving unapproved floors or residential-to-commercial conversions. GHMC’s new guidelines aim to ensure sustainable urban growth and compliance with planning norms. Success depends on consistent enforcement, public awareness, and departmental collaboration to address this persistent urban challenge.The three development agencies in Gautam Budh Nagar—Noida, Greater Noida, and Yamuna Expressway are scheduled to unify their industrial plot allocation procedures after more than 14 years of delays. The authorities have been directed by Chief Secretary Manoj Singh to standardize their policies and submit them for final approval. Plots up to 8,000 square meters will be put up for sale, while bigger plots will be distributed using objective criteria and interviews, according to the updated policy. Although the policy seeks to streamline procedures and encourage openness, questions have been expressed on how it might affect MSMEs and small businesses.
The three development agencies in Gautam Budh Nagar—Noida, Greater Noida, and Yamuna Expressway are scheduled to unify their industrial plot allocation procedures after more than 14 years of delays. The authorities have been directed by Chief Secretary Manoj Singh to standardize their policies and submit them for final approval. Plots up to 8,000 square meters will be put up for sale, while bigger plots will be distributed using objective criteria and interviews, according to the updated policy. Although the policy seeks to streamline procedures and encourage openness, questions have been expressed on how it might affect MSMEs and small businesses.
A state-appointed panel will commence inspections of all 30 integrated townships in Maharashtra starting this year, following a year's delay. These assessments will evaluate water availability, construction progress, amenities, and affordable housing provisions while ensuring compliance with the state's integrated township policy. Initial inspections in Nagpur revealed significant delays in delivering promised amenities, prompting calls for stricter checks. Concerns over inadequate civic amenities, such as water shortages and lack of conservation efforts, have been raised by residents. The panel aims to address these issues and ensure planned development across the townships, especially those concentrated in Pune, Konkan, and Nagpur divisions.
The Chandigarh Housing Board (CHB) reports that allottees under the Small Flats Scheme owe a staggering INR 52 crore in pending rent. A total of 13,174 defaulters have failed to pay their monthly dues regularly, leading to significant arrears. The CHB has published the list of defaulters on its website and provided online and offline payment options. The Small Flats Scheme, which includes 18,138 flats, aims to provide affordable housing to families on a monthly rental basis. Strict rules prohibit selling, sub-letting, or transferring these flats to ensure their intended purpose is maintained. The issue of non-payment and unauthorized use has been a recurring challenge for the scheme.
The Brihanmumbai Municipal Corporation (BMC) collected over INR 5,847 crore in property taxes by December 2024, achieving 62% of its INR 6,200 crore target for the fiscal year 2024-25. This marks a 21% increase compared to the previous year's collection of INR 4,800 crore by the same period. Improved digital payment systems, streamlined arrears management, and enhanced communication with property owners contributed to this success. With over INR 433 crore collected in just the last two days of 2024, the BMC's efficient strategies underscore its strong financial performance and its ability to exceed targets, boosting Mumbai's civic infrastructure funding.
The Guntur Municipal Corporation (GMC) is contemplating adopting the Bengaluru model for managing vacant land in the city. The plan includes imposing fines on landowners whose properties become dumping grounds, contributing to public health issues. Around 20,000 neglected sites in the city are breeding mosquitoes and creating unhygienic conditions. While GMC has issued notices to landowners, many have not responded, worsening the situation. GMC officials are preparing a report to seek approval for penalties, and local legislators have called for immediate attention to the city-owned vacant sites.
In an effort to generate revenue for developmental projects without burdening taxpayers, the Bruhat Bengaluru Mahanagara Palike (BBMP) is focusing on its immovable properties, such as buildings and open spaces it owns or manages. The civic body plans to sell or lease these properties through a public auction, linking the rental value to the government’s guidance value. Recently, BBMP notified draft rules on property management, seeking public objections. These rules aim to streamline the leasing process, make BBMP more self-reliant, and address issues like low rental values and lengthy leases to religious or educational institutions.
The Maharashtra Housing and Development Authority (MHADA)’s Mumbai Board is set to start the construction of over 35,000 homes as part of the state government's 100-day initiative. The projects include the rehabilitation of 27,000 slums in Sanjay Gandhi National Park, the redevelopment of Abhyudaya Nagar, and the rebuilding of 25 buildings for Sindhi refugees in GTB Nagar. Groundbreaking ceremonies for these projects will take place soon, and construction is expected to commence over the next two months. The projects will add significant housing space and provide an additional 63,000 sq m for future housing units.
Smartworks, a prominent provider of flexible workspaces, has leased 470,000 square feet at the DLF Commercial Building in Gurugram, marking its fourth managed campus in the city. The company operates 45 centres across 13 cities, offering 9.12 million square feet of workspace. As of mid-August 2024, Smartworks filed its draft red herring prospectus for an IPO, which will include a fresh issue of INR 550 crore in equity shares and an offer for sale of 6.759 million shares. The company is considering raising INR 110 crore through a pre-IPO placement and has attracted USD 29 million from Keppel Ltd since 2019.
For the first time, the Sabarmati Riverfront will witness a mixed-use development project that combines residential apartments and commercial spaces. The Sabarmati Riverfront Development Corporation Limited (SRFDCL) has invited proposals for the sale of development rights for a strategically located 5,710 sq m plot near Keshav Nagar on the river’s western bank. The project will include commercial spaces up to four floors and residential units above, with a height cap of 52.17m. The base price for the rights is INR 128.80 crore, with bids closing by the end of January 2025. The project is expected to be completed within four years.
• A residential flat spanning 722 square feet sold in Kalpataru Srishti Tower G in Thane's Mira Road for INR 1.32 crores
• A residential flat spanning 679 square feet sold in Shree Mauli Prabha in Thane's Dombivli East for INR 60 lakhs
Precast concrete, also known as prefabricated concrete is an alternative to cast-in-situ concrete. It is produced at an off-site controlled factory environment where moulds are used to cast elements such as slabs, walls, columns, beams, etc which are then transported to the construction site for assembly. This method eliminates the need for time-consuming on-site casting and curing, allowing for faster project completion.
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