ICRA: Capital support, finalisation of pending bills needed in port sector

Centre proposes digital property law to modernise registrations

In a landmark move to modernise India’s property registration system, the Central Government has released the draft Registration Bill, 2025, which seeks to replace the 117-year-old Registration Act of 1908. The proposed legislation introduces a fully digital, paperless, and citizen-centric framework for registering immovable property — a first for India’s real estate sector. Prepared by the Department of Land Resources under the Ministry of Rural Development, the draft bill proposes key changes such as online submission and registration of documents, electronic admission and verific..

GMDA Approved to Cut 1,300 Trees for Gurugram Metro Construction

The Gurugram Metropolitan Development Authority (GMDA) has obtained approval to fell 1,300 trees between Millennium City Centre and Hero Honda Chowk for the Gurugram Metro project, officials stated on Monday.A senior GMDA official mentioned that the forest department had granted clearance the previous week. The official explained that permission had been received to cut down 1,300 trees, while approval for felling an additional 500 trees on the stretch from Hero Honda Chowk to Sector 9 was expected soon. They added that the modalities for tree felling would be coordinated with Gurugram Metro R..

PIB Clears East-West Corridor for Lucknow Metro Project

The Public Investment Board (PIB) has granted approval for the East-West Corridor of the Lucknow Metro, with an estimated project cost of ₹5,801 crore. This corridor, part of Phase 1B of the metro project, will cover a distance of 11.165 km, stretching between Charbagh and Vasantkunj.The decision was made during a PIB meeting held in Delhi in the first week of May, which was chaired by the Union Finance Secretary. The approval followed the clearance of the detailed project report (DPR) by the Uttar Pradesh government in March 2024. Subsequently, the Network Planning Group (NPG) provided the ..