NGT prohibits leasing plot near Navi Mumbai creek

12 Oct 2023 CW Team

The National Green Tribunal (NGT) announced that Cidco, the planning authority for Navi Mumbai, was prohibited from leasing out a 25,000 sq m (6.2 acre) plot adjacent to the NRI Colony at Seawoods in Nerul, which falls under CRZ. This decision was made after local residents and activists had been protesting against a Cidco tender to auction the plot. The intention was to develop residential and commercial buildings in an area known for its mangroves and flamingo habitat.

Two applications were submitted by the Navi Mumbai Environment Preservation Society (NMEPS) and a group of six city residents, urging Cidco to halt the auction. The base price for the auction was set at Rs 1.4 lakh per sq m. The petitions, presented by advocates Zaman Ali and Meennaz Kakalia, highlighted that according to the Cidco tender documents, about two-thirds of Plot 2A in Nerul sector 54-56-58 fell under CRZ 1 (where no construction is allowed) and CRZ 2 (which permits construction but with several restrictions).

Real Estate

02 Apr 2026

Indian real estate attracts USD 1.4 bn institutional investments in Q1 2026: Vestian

Institutional investments in India’s real estate sector touched USD 1.4 billion in Q1 2026, marking the highest first-quarter inflow since 2022, according to Vestian. While investments fell 62 per cent quarter-on-quarter due to an exceptionally high base in the previous quarter, they rose 74 per cent compared to the same period last year, reflecting sustained investor confidence despite rising geopolitical and macroeconomic challenges.Commercial real estate remained the key driver of investment activity during the quarter, accounting for 80 per cent of total inflows, sharply higher than 38 p..

VECV crosses 1 lakh annual vehicle sales milestone in FY26

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, has surpassed the 1 lakh annual sales mark in FY 2025–26, recording its highest-ever commercial vehicle sales performance. The company said it sold more than 100,000 vehicles during the year, marking a major milestone aligned with the original vision of the Volvo–Eicher joint venture.The strong performance was supported by demand across categories. Light and Medium Duty (LMD) trucks contributed 47,789 units, accounting for 46.1 per cent of total sales. Heavy Duty (HD) trucks recorded 26,867 units (25.9 pe..

Rodic Digital & Advisory partners SatSure to deploy EO intelligence in public sector

Rodic Digital & Advisory (RDA), the strategic advisory and digital transformation arm of Rodic Consultants, has signed a strategic cooperation Memorandum of Understanding (MoU) with SatSure to jointly pursue opportunities in India’s public sector. The collaboration aims to integrate high-resolution Earth Observation (EO) data and geospatial AI into government workflows to strengthen monitoring, compliance, and operational decision-making across key sectors.The partnership combines SatSure’s Earth intelligence capabilities with RDA’s expertise in government digital transformation and ..