Developers have acquired 58% more land in FY24, keeping up with the rising demand for residential properties. This article explores the reasons behind this increase and its implications for the real estate sector.
The first section of the Bengaluru Suburban Rail Project (BSRP) from Yeshwantpur to Chikkabanavara, covering a distance of 7.4 km, is set to be commissioned by December 2025. Infrastructure development minister MB Patil announced the progress during his inspection of the casting of the 100-ft U-girder at Gollahalli. The overall corridor, spanning 25km in total, will open in stages, with 7km set to be operationalized in the first stage. KRIDE, the organization responsible for the construction, has set a deadline of June 2026 for the second corridor to open.
Fishermen and others in the industry consider the government’s move to acquire land for parking facilities at the Kalamukku fish landing centre as a victory after years of protests. The government has allocated funds for land acquisition and preliminary works, highlighting the importance of sufficient parking space and an approach road. Local representatives believe this development will have a positive impact on the coastal area’s development. Fishermen have also voiced concerns about the lack of infrastructure, including an auction hall and drainage improvements.
The construction of the Kurukshetra elevated track in Haryana, being carried out by HRIDC for Rs 350 crore, is in its final stages and will be completed by March this year. The track will eliminate five level crossings and improve rail and road traffic safety in Kurukshetra city. The Haryana Rail Infrastructure Development Corporation is also working on a 126 km long mid-high-speed railway track. The land acquisition work has been completed and compensation has been given to farmers. The Haryana government is also planning to form the Haryana Metro Corporation and start construction on the Rapid Rail Transit System.
The Bundelkhand Industrial Development Authority (BIDA) held its inaugural meeting to discuss proposals and make important decisions. The meeting focused on land acquisition for the establishment of a world-class industrial city in Jhansi, which is comparable to Noida. The project, part of the Bundelkhand Chief Minister Industrial Area Expansion and New Industrial Area Promotion Scheme, aims to acquire 35,000 acres of land and boost the upcoming defence corridor in the area.
Arkade Developers acquires a 3-acre plot in Mumbai for INR 104 Crore with plans to develop a mixed-use project.
