CONSTRUCTION ACTIVITIES
Iran president-elect ready for 'constructive dialogue' with Europe
The 69-year-old has called for "constructive relations" with Western countries to "get Iran out of its isolation", and favours reviving the 2015 nuclear deal between Iran and global powers.
Mumbai and Hyderabad accounted for 43 pc of new residential launches in H1 Fy25: JLL report
Mumbai and Hyderabad spearheaded the surge in residential launches, contributing 43 per cent of new units, with India's market hitting new heights in H1 2024. The two cities together launched a record 160,000 units (5 per cent increase from H1 2023). This was driven by premium and luxury segments. Bengaluru and Mumbai topped sales with 155,000 units sold, while prices rose 5-20 per cent in top cities. 2024 outlook is positive with sales projected at 315,000-320,000 units.
Construction of dams have turned Sutlej into rivulet: SC judge
Supreme Court judge Justice Sanjay Karol remarked that the construction of dams on the Sutlej River has drastically altered it, transforming the trans-Himalayan river into a mere rivulet and disrupting the entire ecosystem. He made these comments on Friday at the launch of a book titled "Climate Change: The Policy, Law and Practice" by lawyer Jatinder (Jay) Cheema. Justice Karol also emphasized the severe impacts of climate change on the country's agriculture sector.
Delhi HC orders removal of encroachment, illegal constructions near Yamuna
The Delhi High Court has instructed the DDA vice-chairperson to eliminate encroachments and unauthorized constructions on the Yamuna river bank, bed, and drains, appointing them as the nodal officer to coordinate with various agencies. The order, issued on July 8, followed a petition seeking the removal of illegal structures near Shaheen Bagh and measures to prevent future encroachments.
Construction companies likely to report subdued growth in Q1 amid lower awarding of projects, slow execution
The financial performance of roads and construction companies in the June 2024 quarter is expected to remain muted due to delay in obtaining clearances related to acquisition of land parcels, severe heat wave across various parts of the country, and slack in construction activities amid the general elections held during the quarte
Trifecta Projects launches a new housing project in Bengaluru
An eco-luxury living project, Trifecta Vanto, is located in the prime area of Sarjapur Road in East Bengaluru. Read on to discover the array of sustainable luxury offerings with environmentally friendly features.
Realty developer Supertech submits plan to UP government for completion of stuck projects
Supertech reported total dues to the bank and development authority amounting to about Rs 8,000 crore, while project receivables from launched and yet-to-be-launched projects exceed Rs 14,000 crore, indicating a positive net worth for these projects. The company is tasked with delivering approximately 15,000 homes.
Assam CM Himanta Biswa Sarma bats for starting Skill University Academic session from July 2025
Assam Chief Minister Himanta Biswa Sarma visited the construction sites of Assam Skill University, Mangaldai Bypass, and Darrang Medical College & Hospital. He expressed concern over the slow progress of the projects and directed authorities to expedite completion. The Mangaldai Bypass on NH15 will enhance road connectivity between West Bengal, Assam, and Arunachal Pradesh. The Assam Skill University aims to offer modern skill education, while the Darrang Medical College & Hospital will provide healthcare facilities and medical education.
BMC says not appropriate to issue stop work notice to Godrej Properties’ Kandivali project
The Municipal Corporation of Greater Mumbai (MCGM) has decided against issuing a stop work notice to Godrej Properties’ ongoing residential project in the Kandivali suburb of Mumbai as suggested by the defence ministry’s Central Ordnance Depot (COD).
Relief for 20,000 homebuyers! Suraksha Group finally takes over Jaypee Infratech via insolvency process
According to a regulatory filing by Jaypee Infratech on Wednesday, Suraksha Group informed the IMC (Implementation and Monitoring Committee) that May 24, 2024, i.e., the date of the NCLAT order should be treated as the 'Approval Date' as defined in the approved resolution plan.
India's FDI steady at $70.9 billion in FY24, inflows more than doubled in the construction sector
India maintained consistency in attracting foreign investment with a total FDI inflow of USD 70.9 billion in FY 2023-24. The highest FDI of USD 6 billion was received in October 2023, with FDI equity inflow reaching USD 44.4 billion. Construction, development, and power sectors saw significant growth, with Mauritius and Singapore being the top contributors.
China emissions fall in March, may have peaked: Report
China's carbon dioxide emissions fell in March for the first time since its economy reopened after pandemic restrictions, suggesting the country's emissions may have peaked, according to a new analysis. Writing for Carbon Brief, Myllyvirta said China's carbon dioxide emissions fell three percent in March 2024 from a year earlier, based on an analysis of official data.
Defence Ministry points gun at Godrej's housing project with revenue potential of Rs 7,000 crore in Mumbai
The Defence Ministry has raised objections to a residential project undertaken by Godrej Properties in Mumbai, demanding the suspension of work on the venture. With an estimated revenue potential of Rs 7,000 crore, the project, known as Godrej Reserve, has encountered opposition due to its proximity to the Central Ordnance Depot (COD) complex in Kandivali. Spanning an 18.6-acre land parcel, Godrej Reserve has already seen the launch of approximately 1.91 million sq ft of development.
The Importance of Passive Investing to Achieve Your Wealth Goals
Gaurav Doshi, Principal Officer & Fund Manager at 360 ONE Wealth Open, advocates passive investing as crucial for long-term portfolios amidst the debate between Active and Passive strategies.
India Cements Q4 Results: Net loss narrows to Rs 50.06 crore
The cement and clinker volume for the fourth quarter was 24.36 lakh tonne as compared to 27.85 lakh tonne in the same period of the previous year, it added.
BCD Group plans to furnish 3 million square feet of real estate in 5 years through interior designing
BCD Group has launched Casadilusso to provide interior design services, aiming to offer end-to-end solutions for real estate developers and home buyers. This move aligns with the trend of integrated contractors and aims to tap into the growing interior design industry in India, driven by the expanding real estate sector. The company plans to furnish 3 million square feet of real estate over the next five years and expects the design arm to contribute significantly to its total revenues in the coming years.
Realty cos draw up plan to protect sales and workers from heatwave
Real estate industry adapts to heatwave challenges by adjusting construction schedules, providing worker breaks, and offering virtual property tours to maintain sales momentum despite high temperatures.
India lodges protest with China over its infra development in Shaksgam valley
India has strongly protested against China's construction activities in the Shaksgam valley, which India considers a part of its territory. The Ministry of External Affairs reiterated that India has never accepted the 1963 China-Pakistan boundary pact that attempted to cede the area to Beijing. India has registered its protest with China and reserved the right to take necessary measures to safeguard its interests. The Shaksgam valley is strategically important and is currently part of Pakistan-occupied Kashmir.
DLF to invest Rs 2,200 cr to build shopping mall in Gurugram
At present, DLF has a retail footprint of around 42 lakh square feet comprising nine properties, including malls and shopping centres, mainly across Delhi-NCR. Around 3.4 lakh square feet of retail portfolio is under DLF Ltd and the rest under the DLF Cyber City Developers Ltd (DCCDL), a joint venture between DLF and Singapore sovereign wealth fund GIC.
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