Ikea Explores Land in South Delhi, Dwarka for Expansion

31 Aug 2023 CW Team

Retail giant Ikea's expansion plans have led it to scout for around 25 acres of land in prime locations such as South Delhi and Dwarka in the national capital. The retail company, represented by Ingka Centres, a part of the Ingka Group which includes IKEA Retail and Ingka Investments, is exploring opportunities to extend its footprint in these sought-after areas.

Although details about land pricing offered by the Delhi Development Authority (DDA) have not been disclosed, real estate experts suggest that licensed or sanctioned plots in regions like South Delhi and Dwarka could be priced between Rs 500 million to Rs 750 million per acre. Ingka Centres had previously engaged with DDA for a sizable land parcel, but discussions did not progress favourably due to pricing concerns. However, recent reports indicate that the retailer has resumed negotiations and approached DDA once more.

IKEA has confirmed its intention to expand its presence across various markets in India, including Delhi NCR, aiming to bring its home furnishings solutions closer to customers. The group has already established multiple stores across India and plans to further its reach by opening outlets in Chennai and Pune.

As IKEA explores new avenues for expansion, it is also fostering local partnerships by sourcing 30 per cent of its products from within India. Additionally, the company is considering India as a potential export hub for wooden furniture, thereby diversifying its sourcing strategies.

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..