Bhubaneswar development halts Mahisakhal Slum Housing

04 Oct 2023 CW Team

The Bhubaneswar Development Authority (BDA) has announced its decision to suspend the remaining work on the slum redevelopment housing project that was initiated at Mahisakhal in Badagada. This project aimed to provide rehabilitation for the residents of nearby slums. The BDA had undertaken this project in 2013 under the former Rajiv Awas Yojana (RAY) scheme. According to the plan, a G+4-storied building was approved for construction to accommodate slum dwellers. The project intended to build 19 blocks, comprising nearly 700 dwelling units. Initially, the BDA had hired a private contractor to commence the construction. Work on approximately 15 blocks was successfully completed. However, due to land issues and subsequent financial constraints, the construction of the remaining four blocks faced delays. During this period, a survey conducted by the Bhubaneswar Municipal Corporation (BMC) led to the allocation of houses in the 15 completed blocks to eligible slum dwellers. Nevertheless, several individuals were left homeless because the construction of the remaining four blocks could not be finished. Recently, a high-level meeting was convened to address the challenges associated with the project. In the meeting, BDA officials explained that the project's delay was primarily caused by complications in land acquisition and administrative issues with the private contractor. They also highlighted the problem of cost escalation. The officials stated that the BDA requires Rs 200.75 million to complete the construction of the remaining four blocks.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..