Tier 3 & 4 cities outpace NCR in home loans uptake
Demand for home loans from country’s tier 3 and 4 cities and districts have been growing at a faster pace than the top two tier districts, including Mumbai and Delhi (NCR), while the country’s home loan market is likely to double in five years, SBI Research concluded in its recent report. Total portfolio in terms of outstanding grew over 10 per cent in the just concluded fiscal. The share of housing loans in bank credit has increased to 14.4 per cent in June 2022 from 13.1 per cent in March 2020. Housing contributes around 50 per cent of the personal/retail loans. Metropolitan regions of Bangalore, Chennai, Delhi (NCR), Hyderabad, Kolkata, Mumbai, Ahmedabad, and Pune are categorized as tier 1. State capitals and evolving areas are categorized as Tier 2. The rest of the districts are categorized as tier 3 and tier 4 based on their urban population. Home loan demand in the rural areas has been on the rise primarily due to the government’s SVAMITVA scheme. The scheme provides people in the hinterland with the right to document their residential properties, which can then help them to use their properties for economic purposes.
NBWL gives nod to Rs 16,000-cr Bengaluru-Chennai expressway
The standing committee of the National Board for Wildlife (NBWL) has granted approval for the construction of the second phase of the four-lane Bengaluru-Chennai expressway project, which requires an investment of Rs 16,000 crore. This 262-kilometer

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MoRTH invites bids for four-laning of NH-169 in Karnataka's Shimoga-Mangalore section
The Ministry of Road Transport & Highways (MoRTH) has opened the bidding process for four-laning project on NH-169 in the Shimoga-Mangalore section of Karnataka. The project aims to widen the road and add paved shoulders, covering the

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Decks cleared for Rs 2,080-cr NH project in TN
The construction of the Rajapalayam-Puliyarai stretch of the Thirumangalam-Kollam four-lane highway is set to proceed after receiving the necessary approvals from the concerned minister, who has written to the National Highways Authority of India

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BRO to build Rs 2,000-cr tunnel in Lipulekh Pass
The Border Road Organisation (BRO) is preparing to commence construction on a six-kilometer-long tunnel between Bundi and Garbiyang on the Ghatiabagar-Lipulekh road in Uttarakhand. The objective is to ensure smoother vehicular movement

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Jewar & IGI airports get Rs 3,000-cr new road connectivity
The Union transport ministry has announced plans for a new road connectivity project that will link the upcoming Noida International Airport (NIA) at Jewar in Uttar Pradesh with the Indira Gandhi International (IGI) Airport in Delhi. The proposed road

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CMRL speeds up tunnelling on Phase-II metro corridor
Tunneling operations have begun in Madhavaram and Greenways Road, marking the initiation of the construction of twin tunnels in key urban localities from Chetpet to Nungambakkam. A tunnel boring machine (TBM) has been transported to the

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Visakhapatnam Port Authority launches Rs 1,563-cr development projects
The Visakhapatnam Port Authority (VPA) in Andhra Pradesh has initiated nine key development projects valued at approximately Rs 1,563.16 crores. The Port of Visakhapatnam, located on the east coast of India between Kolkata and Chennai, is one of

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Prestige Group targets 9-mn sq ft retail space in mall segment
The Bengaluru-based Prestige Group has announced its decision to revamp its mall portfolio with the construction of eight new malls, marking the next phase of expansion for the company. This move comes after the sale of two-thirds of its retail

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IGI Airport in Delhi is set to expand with new international terminal
The Indira Gandhi International (IGI) Airport in Delhi is poised to undergo expansion with the upcoming operation of two international terminals. Terminal 1 (T1), which faced significant delays in renovation due to Covid-19 lockdowns and restrictions

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Nitin Gadkari: India to become super economic power with futuristic infra and PPP
Speaking at the CII Annual Session 2023, Shri Nitin Gadkari, Minister of Road Transport and Highways, emphasized the rising potential in India's tourism sector, citing the well-functioning road and transportation connectivity that has made tourism

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Ircon Renewable Power invites bids for manufacturing solar PV modules for Pavagada project
Ircon Renewable Power has issued an invitation for bids concerning the manufacturing of solar PV modules of the domestic content requirement (DCR) category. The modules are intended for the 600 MWp Pavagada Solar PV project located in Karnataka

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Telangana govt sanctions Rs 276-cr for Mahabubnagar Municipality's drainage system
The Telangana government has approved Rs 276 crore for the construction of an underground drainage system in the Mahabubnagar municipality zone. Excise Minister V Srinivas announced that tenders would be floated soon for the construction of

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DSIIDC initiates infra development in Kanjihawala Industrial Area on 920-acre land
The Delhi State Industrial and Infrastructure Development Corporation has commenced preliminary work on a 920-acre land parcel in the Kanjihawala industrial area in Delhi. The corporation is currently in the process of hiring a consultant to provide

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Mahindra Logistics and LOGOS transform Luhari warehousing facility towards Net-Zero
Mahindra Logistics Limited (MLL) along with LOGOS – Asia Pacific logistics specialist and Venture partner Ivanhoe Cambridge, transforms warehousing facility, in a single park, towards net-zero. With this transformation in Luhari, MLL’s total renewable

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Gati launches Bike Express
Gati Ltd, express logistics and supply chain solutions providers, has launched Bike Express, a specially designed fully equipped, safe and on-time bike transportation service with a nationwide service network. The service is ideal for working

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LOGOS in JV to build 77-acre Logistics Park at Chakan in Pune
LOGOS, a prominent Asia Pacific logistics real estate company, and its venture partner, Ivanhoe Cambridge, have successfully acquired a 77-acre industrial land parcel in Pune's Chakan industrial area. The purpose of the acquisition is to develop

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IRB Infrastructure signs concession agreement for Rs 2,132-cr road project in Gujarat
IRB Infrastructure Developers, through its wholly-owned subsidiary Samakhiyali Tollway Pvt Ltd, has successfully signed a concession agreement with the National Highway Authority of India (NHAI) for a significant road project worth Rs 2,132 crore

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Krisumi Corporation to invest Rs 300-cr in Phase-II of Krisumi City Project in Gurugram
Krisumi Corporation, a joint venture between Sumitomo Corporation of Japan and Krishna Group of India, is set to invest Rs 300 crore in the development of approximately 4,00,000 sq. ft. as part of the second phase of the 'Krisumi City' housing project

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Max Estates gets building plan approval for Rs 1,300-cr Noida residential project
Max Estates, a prominent real estate developer, has successfully obtained building plan approval for its upcoming residential project in Sector 128, Noida. The project holds significant potential with a gross development value estimated at Rs 1,300 crore

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Haryana govt expedites construction of Rs 1,700-cr Karnal RR Project
The state government of Haryana has accelerated the construction work on the Karnal Ring Road project, aimed at providing a significant boost to connectivity for key highway cities and nearby areas. The project, with an estimated investment of

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