Kanabargi residential project to commence in two months

18 Oct 2023 CW Team

The Belagavi Urban Development Authority (Buda) has taken a significant step forward by inviting tenders from consultant firms to spearhead the implementation of the Kanabargi residential project (Scheme No.16). If all progresses as planned, the public will be invited to apply for sites in February 2024.

This move by Buda marks a significant development, as the authority has not undertaken the development of a new layout in the past 15 years. This prolonged period without new layouts has resulted in a substantial escalation of land costs within the city. The Ramtirth Nagar layout was the last residential project initiated by Buda, and its underperformance has exerted considerable pressure on the authority to expedite the Kanabargi project.

The Kanabargi project, originally intended to cover a vast expanse of 159 acres and 23 guntas, has encountered legal disputes with farmers owning land in approximately 30 acres. Consequently, the project is likely to proceed in the remaining available land. This legal wrangle has been a significant factor contributing to the delay in Buda's implementation of a new city layout.

Previously, the government had proposed a 60:40 land-sharing ratio with the farmers, a proposition that was rejected. Subsequently, a 50:50 ratio proposal was presented, which garnered the acceptance of most farmers, with the exception of those owning 30 acres.

The initiation of tenders for the Kanabargi residential project signifies a pivotal moment in Belagavi's urban development landscape and underscores the authority's resolve to address the city's growing housing needs and infrastructure development.

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..