Ponda Civic Body to Lease Market Complex Following Unsuccessful Auctions

06 Nov 2024 CW Team

The Ponda Municipal Council (PMC) has made the decision to lease its entire new market complex located at Budhwar Peth (Upper Bazar) to a single entity. This decision follows the inability to attract bidders in six separate auctions for individual shops within the complex, as stated by PMC chairperson Anand Naik.

The market complex, which was inaugurated in December 2011, has been underutilized, with only 29 out of 154 shops currently occupied. Despite multiple auction attempts, PMC has struggled to find tenants for the remaining shops for over a decade.

PMC officials expressed that leasing the entire complex would generate revenue and help cover operational expenses. Naik noted that the most recent auction held last month also failed to attract any bidders. He mentioned that the council believes renting out the shops individually is not feasible, making it preferable to lease the entire complex to a single party.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Infrastructure Transport

06 Jul 2026

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Infrastructure Transport

06 Jul 2026

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..