real estate
Brigade Group has signed a Joint Development Agreement to develop around 2.1 million square feet space in Chennai where the land, located at Perumbakkam, just off OMR Sholinganallur junction is spreading across 15 acres and will be developed as a large residential township. Brigade Group is targeting revenue of about ₹6,000 crore over the next 5 years from its Chennai residential business alone. South India will continue to be a key focus area for the company.

The builder expects a very positive response from customers, especially from the IT and ITeS sectors as it is in the heart of the IT Office belt. Executive Director and Head of Residential Business, Pavitra Shankar, informed that Perumbakkam is one of the fast-emerging residential hubs in Chennai, witnessing increasing infrastructure development. Further, as part of its consolidation plans in Chennai, the Group is expanding its residential, commercial and retail verticals.
Japan injects ₹7,084-cr in multiple infra projects in India
Japan has extended an official development assistance loan worth ₹7,084.53 crore for various developmental projects in India. The loan will fund the construction of Patna metro rail in Bihar, West Bengal Forest and biodiversity conservation

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GR Infraprojects wins two NHAI projects in Karnataka for ₹1,613.84-cr
GR Infraprojects Ltd emerges as the lowest bidder for two NHAI projects worth ₹1,613.84 crore. According to a BSE filing, the financial bids were opened on March 28, 2023. The company announced that it has emerged as an L1 bidder for

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India plans to develop 5000km Eastern Grid of navigable waterways
Union Minister Sarbananda Sonowal has announced plans to develop the Eastern Grid with over 5000 kms of navigable waterways. Speaking at the second Inland Waterways Summit in New Delhi, the Minister of Ports, Shipping and Waterways stated

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DDA allocates ₹3,314-cr for infra and housing projects
The Delhi Development Authority (DDA) has approved its budget for the financial year 2023-24, with a focus on infrastructure projects in Narela, Dwarka, and Rohini sub-cities, and the Urban Extension of Roads II project. The budget was passed in a

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SCR invites tenders for 110-km long rail line in AP
South Central Railway (SCR) has invited tenders for a new 110-km long broad-gauge railway line between Muddanur in YSR district and Prasanthi Nilayam in Satya Sai district, passing through Pulivendula and Mudigubba in Andhra Pradesh

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UP Govt approves ₹12,000-cr infrastructure projects for Gorakhpur
The Uttar Pradesh government has recently approved a slew of infrastructure projects worth ₹12,000 crore for Gorakhpur. The projects span across various sectors, including the development of world-class infrastructure, civic facilities, road connectivity

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J&K rolls out new logistics policy for transport infrastructure
The Jammu and Kashmir state administration has recently introduced the Logistics Policy 2023, which aims to establish world-class infrastructure for the transport sector and bolster the logistics industry in the region. The policy emphasizes the

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DBL bags ₹780.12-cr highway contract in AP
Dilip Buildcon, an infrastructure development company, has been awarded a new road building contract by the National Highways Authority of India. The company has been declared as the lowest bidder (L-1) for the project, which is worth ₹780.12

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Govt. aims to bring down logistics cost to a single digit at 9% by the end of 2024
The main challenge in the Indian industry, trade and business is the high cost of logistics which is currently at 16%, whereas in European countries and America it is 12% and in China it is 8%. By the end of 2024, the aim of my ministry is to bring

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Megha Engineering emerges L1 bidder for road project
Megha Engineering & Infrastructure has been declared as the lowest bidder (L1) by the National Highways Authority of India (NHAI) for Package-II and Package-III of the Khammam-Vijayawada greenfield highway (NH-163G) which spans across

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Centre sanctions ₹698-cr for Belur-Hassan highway widening
The Union Transport Minister, Nitin Gadkari, announced that the Centre has approved a budget of Rs 698.08 crore for the widening of the Belur to Hassan section of National Highway-373 in Karnataka. This project, which falls under the NH(O)

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India-Bangladesh cross-border oil pipeline gets automated
ABB India has delivered integrated automation and control solutions to enable the safe, secure, and reliable operation of the 130-kilometer Indo-Bangla Friendship Pipeline (IBFPL), which will carry diesel from India to Bangladesh. The cross-border

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Highest home sales in Mumbai in 2022 : PropEquity
As compared to the last five years, Mumbai has registered the highest residential property sales in the calendar year 2022. The total sales of residential real estate in the city stood at 51,390 units in 2022, up 37% as against the previous year, according

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Nitin Gadkari emphasizes PPPs for developing smart cities & villages to achieve India's $5 trillion economy vision
Union Road Transport and Highways Minister Nitin Gadkari has highlighted the importance of public-private partnerships (PPP) in developing smart cities and villages as crucial to achieving India's vision of becoming a USD 5 trillion economy

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DMRC starts tunneling work for Phase-IV expansion
The Delhi Metro Rail Corporation (DMRC) has begun construction on approximately 65km of both overground and underground lines across three corridors as part of its Phase-IV expansion plan, including 28km of new underground corridors

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NCRTC begins pre-construction work for Delhi-Gurugram-SNB RRTS corridor
The National Capital Region Transport Corporation (NCRTC) has commenced work on the Delhi-Gurugram-SNB (Shahjahanpur-Neemrana-Behror) Regional Rapid Transit System (RRTS) corridor. The first phase of the project has begun with the

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CPWD invites bids for ₹188-cr construction contract in Delhi
The Central Public Works Department (CPWD) has invited bids for the construction of a new building at the old JNU Complex in New Delhi. The building will be an integrated facility, combining an office training complex for ISTM and office

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Mahindra Logistics and Ascendas-Firstspace announces launch of one million sq. ft. warehouse park in Talegaon, Pune
Mahindra Logistics Ltd. (MLL) and Ascendas-Firstspace – an industrial real estate developer announced setting up of a new one million square feet of multi-client warehouse park in Talegaon, Pune. With comprehensive connectivity, the entire

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MoRTH clears ₹318-cr for NH project in Uttarakhand
The Union Ministry of Road Transport and Highways has allocated ₹318 crore for the construction of a 150-km-long all-weather road connecting Tanakpur and Pithoragarh in Uttarakhand, according to Executive Engineer of NHAI, Sunil Kumar. The project

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UPMRC invites e-tender for Agra Metro's Corridor-2 elevated viaduct & station construction
The Uttar Pradesh Metro Rail Corporation (UPMRC) Ltd. has issued an open e-tender for the construction of an elevated viaduct and seven elevated stations for Corridor-2 of the Agra Metro in Agra, Uttar Pradesh. The tender invites bids for civil

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