Infrastructure
Publicly-held, Bangalore-based realty firm GMR Infra is set to commence the second phase of monetisation of its land parcel near the Delhi International Airport. The phase will likely begin during the ongoing financial year. For the 230-acre land, GMR Infra – which manages the airport – is expected to get a price of more than Rs [...] Continue Reading »
Major states including those ruled by parties outside the ruling alliance have raised a host of objections to many unworkable provisions in the new Land Acquisition Act. Hence the Modi government has put the Act, which came into force just six months ago, under a comprehensive review. There are minor differences among the states on [...] Continue Reading »
The NaMo government is planning to give the gift of infrastructure on the independence day of India this year. Stalled highways projects worth Rs 1, 80,000 crore will be rolled out in a month’s span after sorting out hurdles like delays in land acquisition and green nods. Road transport and highways minister Nitin Gadkari mentioned [...] Continue Reading »
The Modinomics has spread a positive vibe post the budget session and the ripples are to be seen everywhere. Embassy Office Parks, a joint venture between private equity firm Blackstone Group and office space developer Embassy Group, is in advanced talks to acquire three large IT parks spread over two million square feet each in [...] Continue Reading »
Many global real estate players believe that the Narendra Modi Government would bring back positive market sentiments. Global real estate developer Tishman Speyer is also one of them and is shifting back its focus on India. The company now is looking at expanding its footprint in the domestic market and planning new projects across many [...] Continue Reading »
The Union Budget of 2014 maintained the government’s commitment to fiscal consolidation by sticking to a fiscal deficit target of 4.1 percent of the gross domestic product or GDP. The current year’s target does not only express the commitment to fiscal prudence but also shows the road map to reach the fiscal deficit of 3 [...] Continue Reading »
Building projects in Pune may be delayed because of a recent decision by the Pune Municipal Corporation (PMC) to ban all construction activity in the city till the revival of monsoon and a resultant improvement in water situation. The decision by the PMC to stall construction activity to deal with water crisis may lead to [...] Continue Reading »
On Monday, a team of officials of the Patna Municipal Corporation (PMC) inspected the site of the high-rise Santosha Complex building before demolishing the deviations from the approved building map. Santosha Complex is located at Bandar Bagicha, off Fraser Road. The PMC officials’ visit to the Santosha Complex building was in compliance with the orders [...] Continue Reading »
According to an internal note of the Department of Telecommunications (DoT), the government plans to make creation of telecom infrastructure mandatory for future real estate ventures, including high rises. DoT is likely to shortly specify the real estate project categories where it may purely be the property developer’s responsibility to arrange the basic telecom infrastructure, [...] Continue Reading »
The Porur flyover work had been stopped for more than two years. The work had been put to hault due to the urgent need to bring in a change in the design of the flyover. The state highways department has recently tried to begin a fresh effort in order to restart the Porur flyover project. [...] Continue Reading »
