Top Indian Infrastructure Industry News & Updates - 14 March 2024,Thursday
🏢 Industry & SEZ
📝 UP RERA asks promoters to provide QR code with project details to homebuyers
📝 Cabinet decisions: Fresh metro rail boost to Delhi-NCR, MoUs with Bhutan, UAE
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🏗 Construction
L&T Construction secures ‘significant’ order from AIIMS Madurai
Chennai: Larsen & Toubro’s Buildings & Factories (B&F) vertical has secured a ‘significant’ order from AIIMS Madurai, Tamil Nadu. This is under the PMSSY division of the Ministry of Health and Family Welfare, Government of India. The company did not give the exact value of the order but classifies ‘significant’ as the order ranging between ₹1,000 crore and ₹2,500 crore.
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🏘 Real Estate
Shriram Properties launches new residential project in Bengaluru with project revenue potential of Rs 350 crore
Shriram Properties on Wednesday announced the launch of its latest RERA-approved residential project under the “Codename Ultimate” near Bengaluru. The project is being developed under the joint development model, with an aggregate saleable area of around 5.0 lakh square feet. This 400+ unit Balinese-themed project, characterized by its tranquil and harmonious ambience, prioritizes open spaces, encompassing over 70 per cent of the total area, the company said in a regulatory filing.
Early signs make 2024 a resilient year for residential real estate in India
In the wake of unprecedented global challenges, India’s residential real estate sector has shown remarkable resilience, laying the foundation for a promising 2024. Despite the challenges posed by the global pandemic and various economic uncertainties, early indicators suggest that 2024 could emerge as a resilient and promising year for the industry.
Property leasing by luxury brands in India jumped 170% in 2023: Report
Demand for premium and luxury goods is increasing in the country due to a growing middle and upper class, said the report released jointly by real estate consultancy CBRE South Asia and the PHD Chamber of Commerce and Industry (PHDCCI). The internet and social media shape demand too, said ‘The Ascent of Indian 'Luxe RE' report.
77% of investment in Indian real estate in 2019-23 by foreigners: Report
The average annual total investment in the period was $5.1 billion, said real estate consultancy Colliers in its ‘2024 Investor Insights – Country Spotlight Series’ report. Of that amount, $4 billion was foreign inflow.
Foreign investors inject over $4 billion annually into Indian real estate: Colliers report
India's robust economic resilience, complemented by a conducive investment environment and swift urban development, has positioned it as a compelling investment hub within the Asia-Pacific region.
📝 Realty fund flows into small town India boom
📝 DLF sells 4.67 acre Chennai land to Cholamandalam Finance for Rs 735 crore
📝 Motilal Oswal top official Ashish Gumashta buys luxury apartment in Mumbai’s Bandra west
📝 Luxury brands prefer high streets, lease 600,000 sq ft in 2023
📝 Appetite for both residential and rental real estate strongest in last 5 years: DLF management
📝 FPIs lap up REITs, InvITs, wrap up earlier commitments
📝 REITs, INVITs, Muni bonds offer huge opportunities: Sebi Chair Buch
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🛍 Cement
📝 Shree Cement inks pact with StarCrete to acquire 5 RMC plants for Rs 33.50 cr
📝 Sanghi Industries shares fall over 9% as Ambuja Cement to divest stake
📝 Ramco Cements moves crushed limestone via dedicated freight corridor
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🚙 Roads & Highways
NHAI advises Paytm FASTag users to switch to other FASTags by March 15 or face penalties
The National Highways Authority of India has advised Paytm FASTag users to procure a new FASTag by a different issuing bank before March 15, 2024 to ensure seamless travel experience and avoid inconvenience at toll plazas.
Mumbai’s longest intra-city underground road opens! A ride through coastal road’s underground tunnel
Maharashtra’s Chief Minister Eknath Shinde unveiled Mumbai’s lengthiest intra-city underground road. Spanning 3.93 kilometers, the Mumbai Coastal Road Project includes twin tunnels extending from Princess Street Flyover to Priyadarshani Park.
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🚃 Railways
Indian Railways achieves another milestone! 100 Vande Bharat Express trains running now, linking 250+ districts across India
In a significant development for India’s railway infrastructure, the country has reached a milestone with the operation of 100 Vande Bharat trains. With 100 Vande Bharat trains now operational, the Indian Railways has significantly expanded its fleet of modern, high-speed trains. The Vande Bharat trains are a symbol of the nation’s progress in modernising its rail network.
📝 Railways raises FY25 loco production target by 27 per cent
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🚢 Ports
📝 JSW Infrastructure incorporates arm to execute project at JNPT
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