Ludhiana Improvement Trust floats Tender for HIG Flats Construction

LIT awaits approval for cost-cutting contractor

Ludhiana Improvement Trust (LIT) officials are in anticipation of the local bodies department's approval to finalise the contractor for the construction of Atal Apartments in Shaheed Karnail Singh Nagar. The contractor's offer is substantially lower, by at least 14.5 per cent than the fixed price, raising concerns about the project's quality. 

The Atal Apartments project, marked by frequent cancellations, is now under scrutiny as officials grapple with the challenge of ensuring its success. Approximately 40 beneficiaries have not made any payments to LIT, citing their willing..

Ludhiana Improvement Trust floats Tender for HIG Flats Construction

Ludhiana improvement trust plans new residential scheme

The Ludhiana Improvement Trust (LIT) is preparing to introduce a brand-new public programme on the model of South City, over two decades after its inception.

Green industry will be given prominence at Lohara side under this plan. The authorities have begun to get ready. To find a consultant, tenders have been posted.

Various commercial entities, according to the government, are sprouting up along the South City. The LIT officials intend to introduce a green industry/residential programme.

LIT Chairman Tarsem Bhinder visited places like Lohara, Jaspal Banger, and s..

Shriram Finance Sells Housing Finance Business

Shriram Finance has finalised the sale of its entire 85% stake in the housing finance business to Warburg Pincus for a whopping Rs 46.30 billion. This move marks Shriram Finance's exit from the housing finance sector, signalling a strategic shift in its business focus. The deal, valued at over Rs 54 billion including a stake sale and fresh equity infusion, positions Warburg Pincus as a significant player in the Indian housing finance market.

Shriram Finance's decision to divest its housing finance arm aligns with its broader corporate strategy, aimed at optimising its portfolio and conc..

BMC Finds 188 Dilapidated Buildings in Mumbai

The Brihanmumbai Municipal Corporation (BMC) has identified 188 dilapidated buildings across Mumbai, with a significant concentration of 47 in the eastern suburbs alone. This move comes as part of the BMC's ongoing efforts to ensure structural safety and mitigate risks associated with ageing infrastructure in the city.

The identification of these dilapidated structures underscores the pressing need for proactive measures to address potential hazards and safeguard the lives of residents. The BMC's focus on monitoring and assessing the structural integrity of buildings reflects its commit..