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UP Scraps Noida Land Allotment to M3M
The Uttar Pradesh government has revoked the allotment of two land parcels in Noida to the M3M Group, citing undisclosed reasons. This decision underscores the government's commitment to transparency and accountability in land allocation processes.
The cancellation of land allotment reflects the government's effort to ensure fairness in real estate transactions. It signals a commitment to address concerns related to irregularities and maintain integrity in land management practices.
This development is significant in the context of ongoing scrutiny of real estate transactions a..
Rs.681 Million Allocated for Sector 10 Land Acquisition
The Uttar Pradesh government has announced the allocation of a staggering Rs.681 million for the acquisition of land in Sector 10, Noida. This significant investment underscores the state's commitment to infrastructure development and urban expansion in the region. The move aims to facilitate the development of vital infrastructure projects and enhance the overall socio-economic landscape of Noida.
The funds have been earmarked for the acquisition of land parcels in Sector 10, a prime area in Noida known for its strategic location and potential for development. This allocation sign..
YEIDA reveals Rs 100 billion budget
The Yamuna Expressway Industrial Development Authority (YEIDA) announced on March 12 that they had allocated nearly Rs 100 billion for the fiscal year 2024-25. It was disclosed that Rs 7 billion had been earmarked for the expansion of the Noida Airport, and Rs 3 billion had been allocated for rapid rail connectivity.
According to officials, 80 percent of the total budget would be dedicated to land acquisition. YEIDA's plan entails the establishment of manufacturing clusters catering to electric vehicles (EVs), semiconductors, Data Parks, and other specialized industries.
YEID..
India, Iran Ink 10-Year Chabahar Port Deal
India and Iran have finalised a ten-year agreement for the development and operation of the strategic Chabahar port following a breakthrough in sourcing equipment. This significant deal underscores the deepening economic and strategic ties between the two nations, facilitating enhanced connectivity and trade opportunities.
The pact for Chabahar port, located in southeastern Iran, is a crucial component of India's efforts to establish a robust maritime corridor connecting it to Central Asia and beyond. With the agreement in place, India aims to leverage Chabahar's strategic location to ..
Nalanda Capital Sells Stake in Great Eastern Shipping
Nalanda Capital has divested a 1.4% stake in Great Eastern Shipping, a prominent player in the ports and shipping industry, for a total sum of Rs. 1.90 billion. This move comes amidst evolving market dynamics and reflects Nalanda Capital's strategic realignment of its investment portfolio.
The sale of shares in Great Eastern Shipping represents a calculated decision by Nalanda Capital to optimise its investment holdings and capitalise on market opportunities. The transaction, valued at Rs. 1.90 billion, underscores the investor's confidence in realising returns while maintaining flexib..
