24 Jan 2025

The Patna Municipal Corporation (PMC) has launched a 13-day campaign targeting property tax defaulters, beginning with visits to seven properties on Exhibition and Jamal Roads. Five owners cleared dues on the spot, while two sought extensions. With 491 defaulters identified citywide, PMC's efforts have raised daily collections to INR 22 lakh, with a target of INR 200 crore for 2024-25. Past tax drives funded urban improvements like infrastructure upgrades and waste management, and the current campaign aims to replicate this success. By intensifying enforcement and encouraging compliance, the PMC is boosting fiscal health and supporting Patna's urban development.Read more

03 Jan 2025

The Enforcement Directorate (ED) in Patna has attached properties valued at INR 7.03 crore under the Prevention of Money Laundering Act (PMLA), 2002. The properties, located in Patna and Noida, are registered under M/s Sri Anuanand Construction Pvt Ltd and its director, Bimal Kumar. Investigations revealed that funds collected from buyers for a real estate project in Danapur, Patna, were misused. Instead of completing the project, INR 7.82 crore was allegedly diverted for acquiring personal assets.Read more

31 Dec 2024

The Patna Metro, a INR 13,365.77 crore project overseen by the Patna Metro Rail Corporation Limited (PMRCL), aims to modernise Bihar's capital with efficient and eco-friendly transit. Comprising two corridors spanning 32.91 km - the East-West Corridor (Danapur Cantonment to Khemni Chak) and North-South Corridor (Patna Junction to New ISBT) - the metro promises reduced congestion and shorter commutes. Funded by central and state governments, with JICA financing 60%, the project is set to launch by August 2025. This transformative initiative will boost connectivity, economic growth, and quality of life, marking Patna's leap toward sustainable urban development.Read more

PNT Reporter

12 Dec 2024

The Greater Visakhapatnam Municipal Corporation (GVMC) has revamped its building plan approval system, significantly improving timelines over the past two months. Previously marred by delays, the online system introduced in 2016 now ensures faster communication of deficiencies and earlier approvals. Notably, 71% of plans are approved within the first week, compared to 20% earlier. In parallel, the Andhra Pradesh government is introducing additional reforms, including a single-window system and a new policy allowing municipal approvals to be bypassed for buildings under 15 metres. These changes aim to streamline processes and expedite clearances.Read more

PNT Reporter

12 Dec 2024

Deputy Chief Minister Samrat Choudhary announced that the Patna metro rail is set to begin operations on August 15, 2025, coinciding with Chief Minister Nitish Kumar's development agenda ahead of state elections. The project is part of the INR 32,506.90 crore supplementary budget, which also funds road repairs, new medical colleges, and a tourism hub in Kaimur. Despite opposition protests, the budget passed by voice vote, with INR 3,028.91 crore allocated to social welfare. The metro's launch is expected to boost Bihar's infrastructure and economy while benefiting marginalized communities through enhanced connectivity and modernization efforts.Read more

PNT Reporter

11 Dec 2024

Patna landowners can now upload land details via self-declaration on the Revenue and Land Reforms Department's portal, with the deadline extended to February 2024. This follows the state's special land survey, initiated to update records last surveyed in 1911. Verification, claims, and objections will follow, ensuring transparency and accuracy. The Bihar cabinet also approved INR 49.73 crore for eco-tourism in Kaimur, INR 98.65 crore for Matsyagandha Lake, and INR 890.14 crore for the Akshar Aanchal Yojana to uplift marginalized communities. Additional funding supports education and ministerial housing, reflecting Bihar's efforts to modernize infrastructure and address socio-economic challenges.Read more

PNT Reporter

11 Dec 2024

The construction of Tata Consultancy Services' (TCS) facility at Madhurawada IT SEZ is advancing rapidly, supported by a proposal from Dallas Technology Centre (DTC) to lease and expand its premises. The state government approved DTC's requests for sub-leasing, occupancy certification, and 1,600 sqm of additional space at INR 6,720/sqm. Initially allocated a 7,774.90 sqm plot in 2016, DTC plans to accommodate 2,000 IT professionals in Phase I, necessitating further expansion. Following State Investment Promotion Board (SIPB) endorsement, relevant departments are expediting the project. The facility is poised to boost employment and drive economic growth in the region.Read more

PNT Reporter

03 Dec 2024

The establishment of the South Coast Railway (SCoR) Zone, with its headquarters in Visakhapatnam, is progressing as the East Coast Railway (ECoR) has invited e-tenders for constructing the General Manager's office complex. With an estimated cost of INR 149.16 crore, the 12-story facility is part of efforts to operationalize the long-awaited zone, which was first announced in 2019. The move addresses historical grievances of north Andhra Pradesh residents, who felt excluded since the formation of the South-Central Railway Zone in 1966. With 52.2 acres of land in Mudasarlova allocated for the project, and the Detailed Project Report under review, the new zone is poised to enhance connectivity and infrastructure in the region, fostering economic growth and transforming Visakhapatnam into a critical railway hub.Read more

18 Nov 2024

The Greater Visakhapatnam Municipal Corporation (GVMC) is launching a pilot project using drones to monitor building plan compliance and detect unauthorised constructions. This initiative, which will begin in Zone II (Madhurawada, Kommadi), aims to streamline the identification of structural violations and could potentially increase GVMC's revenue by INR 100 crore through better property reassessment and taxation. Drones will replace traditional methods, offering precise geo-referenced data and real-time aerial footage to identify violations. The project also introduces a Vacant Land Tax (VLT) scheme to encourage landowners to utilise vacant plots, further boosting municipal revenue.Read more

12 Nov 2024

The Greater Visakhapatnam Municipal Corporation (GVMC) is partnering with the International Finance Corporation (IFC) to create the Eco-Vizag Green City Action Plan (GCAP), which aims to integrate climate mitigation strategies into local initiatives. The draft plan proposes 42 measures across key sectors, including energy, transportation, and waste management, with a potential 30% reduction in greenhouse gas emissions by 2034. High-impact initiatives include promoting electric vehicles and enhancing building codes. GVMC plans to refine the draft with input from local stakeholders, positioning the GCAP as a vital part of its broader Eco-Vizag campaign for sustainable development.Read more

10 Oct 2024

Patna was selected under the Central Government's Smart Cities Mission (SCM) in 2017. As part of this developmental initiative, cities on the list are eligible to receive INR 1,000 crore over the period of five years, with funds provided by both the central and state governments. The goal is to develop selected areas within these cities by improving the civic facilities through smart technology and infrastructure. Patna's inclusion in the program was meant to enhance urban living, address key infrastructure challenges, and modernize city services to benefit its residents with improved, tech-driven amenities and a better quality of life.Read more

18 Sep 2024

The Greater Visakhapatnam Municipal Corporation (GVMC) aims to bring 10,000 unassessed properties into the tax system this financial year, having already identified 4,600 such properties. It also found 877 underassessed properties and collected INR 135 crore through early bird property tax incentives, surpassing last year's INR 118 crore. GVMC's total property tax collection for 2023-24 stands at INR 457 crore, exceeding its target of INR 420 crore. The GVMC focuses on addressing unassessed and underassessed properties to boost revenue and has proposed enforcement teams to remove unauthorised constructions and encroachments while improving vacant land tax collection.Read more

14 Aug 2024

Visakhapatnam's housing initiative is progressing as District Collector Harendira Prasad directs the Housing Department to update the status of over 71,000 houses. Out of 1.39 lakh planned houses, approximately 1.29 lakh have been sanctioned, with 23,995 completed. The initiative spans 138 rural and 64 urban layouts. Prasad emphasises a 100-day action plan, daily progress reports, and geo-tagging for transparency. The move addresses the growing demand for affordable housing, especially post-COVID-19, and aims to improve living conditions for residents through efficient and accountable project management.Read more

28 Jun 2024

Visakhapatnam, Andhra Pradesh's largest coastal city, faces critical development challenges amid renewed hopes under a new government. With stalled projects like the metro rail and Bhogapuram beach corridor, residents eagerly await progress on infrastructure improvements and job creation initiatives exceeding INR 5,000 crore. The Bhogapuram International Airport stands as a beacon of promise, contrasting with delays in the south coast railway zone project due to land acquisition issues. Despite its educational prowess, translating talent into high-paying jobs remains a hurdle. Selected as a pilot city by Niti Aayog, Visakhapatnam aims for economic revitalization through strategic investments, signalling a pivotal moment for its future growth.Read more

17 Jun 2024

Bihar RERA recently secured the refund of INR 14.23 lakh to two homebuyers from Aryavart Lifespaces Private Limited, following cases transferred to the Patna district administration under the Bihar and Orissa Public Demand Recovery Act, 1914. The Act allows authorities to confiscate property and issue warrants against defaulters. A meeting, led by RERA Bihar chairman Vivek Kumar Singh, focused on expediting these cases and developing a monitoring system, including a mobile app for tracking progress. Additionally, plans to auction Agrani Homes Pvt Ltd's confiscated land via an e-proc platform were discussed, aiming to reimburse aggrieved homebuyers.Read more

20 May 2024

In April, the Patna Municipal Corporation (PMC) earned INR 11.76 crore in property taxes and waste collection costs, representing an 88.16% increase over the previous year. The increase in revenue can be ascribed to PMC's 5% rebate incentive for timely filers and the use of online payment platforms. Municipal Commissioner Animesh Kumar Parashar emphasised the tremendous increase in online tax payments, with 58% of taxpayers using digital transactions. PMC's creative initiatives, such as QR code-enabled demand notifications and door-to-door visits, demonstrate its dedication to increasing tax compliance and revenue collection.Read more

PNT Reporter

26 Mar 2024

The auction of RINL (Vizag Steel Plant) land plots in the port city by the National Land Monetization Commission (NLMC) garnered keen interest from bidders, including NRIs. Held on March 14 and 15, the auction attracted 220 participants, resulting in the sale of 72 land plots or blocks totaling 29,270 square yards for INR 243 crore. While 63 plots and 9 blocks were sold, the remaining properties will be auctioned in Phase II. The plots, ranging from 129 to 5350 square yards, fetched prices between INR 70,200 and INR 85,800 per square yard, reflecting the demand for well-located properties in Visakhapatnam.Read more

27 Dec 2023

Curated Living Solutions, under the Divyasree Group, launches its first Green Field project in Visakhapatnam, providing 500 beds catering to Andhra Pradesh Medtech Zone (AMTZ) employees and students. This venture, the sole housing on AMTZ grounds, marks a novel collaboration boosting industrial housing. With plans to expand to 50,000 beds in five years and a robust portfolio, the company eyes significant growth in alternative housing. Their pioneering initiatives signal a promising trajectory, drawing parallels to commercial real estate for investment potential and service standards.Read more

02 Dec 2023

The Patna High Court has issued a directive instructing the state's Economic Offence Unit (EOU) to expedite investigations into 61 criminal cases against the Agrani Group. Flat buyers allege the real estate giant unlawfully misappropriated Rs 100 crore intended for flat bookings. The court's order, part of the resolution of a criminal writ application by victims, mandates a swift investigation and allows victims to file pleas before EOU courts overseeing the 61 FIRs. The allegations centre on fund misappropriation for flat bookings, with victims collectively claiming Rs 100 crore in losses, emphasizing the urgency of investigations and the need for a timely resolution.Read more

17 Oct 2023

GMR is securing a INR 4,000-crore loan for the construction of a greenfield international airport in Visakhapatnam (Vizag). Led by India Infrastructure Finance Company (IIFCL), the consortium is providing a 14-year loan with an approximate interest cost of 10%. The Vizag airport, GMR's fourth major airport in India, is planned in three phases, accommodating 6 million passengers initially and scaling to 40 million once fully developed. The airport aims to boost GMR's aviation business and serve as a significant development for northern Andhra Pradesh. The loan involves moratoriums during construction and the initial operational year.Read more