Top 5 stories of this week - 11th June, 2021 | Construction World

HERE ARE THE TOP 5 STORIES OF THE WEEK:

GMDA TO BUILD GREEN BELTS ALONG 300KM ROADS IN GURUGRAM
The GMDA on Thursday said that over the next 3 years, it plans to develop green belts along 300km of the city’s road network. Also, the district forest department, as a part of their routine pre-monsoon plantation drive, has set a target of planting 1 million saplings this year with the help of panchayats, schools, and other departments.

RELIANCE INFRASTRUCTURE TO RAISE RS 550 CR FROM PROMOTERS
Anil Ambani’s Reliance Infrastructure Ltd said that the board members have approved raising a sum of Rs 550.56 crore by preferential allotment of up to 88.8 million shares and warrants convertible into shares of the company to promoter group and VFSI Holdings Pvt Ltd. The shares & warrants will be issued at Rs 62 per unit based on SEBI regulations.

KERALA ALLOTS RS 50 CR FOR PHASE 1 OF WATER BODY MANAGEMENT
Unprecedented heavy rainfall and poor dam water management systems have led to massive floods, prompting the state to look for solutions to prevent a repeat of this disaster. Therefore, considering the recommendations of the Post Disaster Need Assessment report published after the 2018 floods, Kerala allots Rs 50 crores for phase 1.

BMC TO REDEVELOP AND BEAUTIFY SAAT RASTA IN CENTRAL MUMBAI
The BMC south ward has taken up a project to re-develop and beautify the largest traffic island on Saat Rasta in Central Mumbai to make the area more attractive and pedestrian-friendly.

MODEL TENANCY LAW OPENS DOORS FOR NRI REAL ESTATE INVESTORS
It is one of the most significant developments for residential real estate investors. No one will be allowed to enter into a rental situation without a written agreement; this aims to increase landlords' confidence to rent their vacant properties. Furthermore, the act defines the term within which rental disputes will be resolved.

That’s all for this week. Stay tuned at www.constructionworld.in for more updates.