Latest news with #JDA
Time of India
3 days ago
- Automotive
- Time of India
Brace for traffic congestion on elevated road from today
Jaipur: Traffic movement on the Sodala (Vidyut Nagar)-bound flank of Ajmer Road will move slowly starting Monday morning as Jaipur Development Authority (JDA) has decided to close half of the flank to refurbish the surface of the road. Officials said the work will continue for the next four to five days in phases. "Unlike resurfacing of Gopalbari-bound flank, we are not going to completely stop traffic movement on the opposite flank. From Monday, we will relay the surface of the stretch between Ram Nagar Metro Station crossing and Sodala. But we will complete this job in stretches, blocking only a portion of the flank. Vehicle movement won't be restricted completely," stated a JDA engineer working on this project. This means motorists can take this elevated road from the Gopalbari ROB and move until the Ram Nagar Metro station crossing—where the Bharat Jodo Setu merges with the elevated road—uninterrupted. From there until the exit ramp near the Sodala Fruit Market, vehicles will have to move slowly as JDA works on a portion of the flank. Similarly, vehicles from the Bharat Jodo Setu will reach this merging point uninterruptedly. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Truque caseiro noturno eficaz contra a papada (faça hoje mesmo) Revista & Saúde Saiba Mais Undo "We are not going to allow any big vehicles to take the Ajmer Elevated Road until the work is over. Vehicles from Hawa Sadak Road or Gopalbari moving towards Sodala or the 200-Feet Bypass Crossing need to travel below the elevated road," stated a traffic official. Meanwhile, JDA has already opened the Gopalbari-bound flank of the elevated road. On Sunday evening, JDA completed the resurfacing of the stretch between Gopalbari ROB and the Ram Nagar Metro station. Officials said normal traffic will resume on this stretch from Monday morning. JDA engineers claimed that this is the first major restoration work for this elevated road, which was inaugurated in October 2014 as the first elevated road of Jaipur. The 4.5 km long Acharya Tulsi Setu—connecting Vidyut Nagar and the Gopalbari bus stand—is considered India's first-ever 3-level 4-lane elevated road-cum-metro track.
Time of India
28-05-2025
- Business
- Time of India
Rajasthan HC stays arrest warrant against Jaipur Development Commissioner
Rajasthan high court JAIPUR: The Rajasthan High Court has put a temporary hold on the bailable warrant issued against Jaipur Development Commissioner Anandhi by the District Consumer Disputes Redressal Commission, Jaipur-II. The High Court decision came after a petition was filed challenging the warrant, which was issued despite the JDC being represented by legal counsel before the Commission. In the latest hearing, counsel for the petitioners argued that the presence of the petitioners through their lawyer should have been sufficient to satisfy the Commission. The lawyer maintained that there was no deliberate disobedience of the Commission's order and that efforts were already underway to comply with its directives. Taking this into account, the High Court issued notice to the complainant and directed that responses be submitted within two weeks. It further ordered that, until the next hearing, the bailable warrant against the petitioners would remain in abeyance. The original case stems from an order passed by the District Consumer Commission on November 10, 2023, directing the Jaipur Development Authority (JDA) to refund Rs 2,02,613 to complainant Raj Singh Ajmera, a resident of Jhotwara. The amount was to be returned with 9% annual interest, along with Rs 40,000 for inconvenience caused. The Commission found that the JDA failed to follow the order even after a legal notice was issued on January 25, 2024. On this basis, the Commission issued an arrest warrant for JDC Anandhi, rejecting a plea from her counsel for more time. The Commission instructed the Jaipur Police Commissioner to ensure her appearance before it by December 18. That order, however, has now been temporarily stayed by the High Court until further proceedings.
Hindustan Times
27-05-2025
- Automotive
- Hindustan Times
Mahindra Lifespaces to exit affordable housing by FY30, shifts focus to premium segment: CEO
Mahindra Lifespaces, the real estate arm of the Mahindra Group, has said that the company plans to exit from the affordable housing segment for the time being, stating that it will have zero affordable housing projects on its books by FY30. Managing Director and CEO Amit Kumar Sinha said the company plans to align its real estate strategy with the broader Mahindra brand, which focuses on premium SUVs rather than affordable or luxury vehicles. Similarly, Mahindra Lifespaces will concentrate on offering premium homes that are positioned between the affordable and luxury segments. Sinha said the company plans to pause the development of affordable housing projects to concentrate on premium housing instead. "If you look at Mahindra, it is known for SUVs (cars), not for small cars, not for luxury cars. We have tried both, we have even tried two-wheelers, and it has not been very successful." Drawing a parallel with Mahindra's core automotive strategy, he said, "If you look at Mahindra, it's known for SUVs, not for small or luxury cars. We've tried both, we have even tried two-wheelers, and it has not been very successful,' he said. Also Read: Premiumization of Mahindra SUVs holds a mirror to luxury housing: Amit Kumar Sinha, MD, Mahindra Lifespaces Speaking during the Q4 FY25 investor call, Sinha said, "We have our focus on premium. Premium is defined as more than ₹1 crore to ₹10 crores in NCR and Mumbai, above which the 10 crore market is a threshold for luxury. But in other markets like Pune and Bengaluru, ₹1 to ₹5 crores is mid-premium and premium. So, that is what we want to focus on." "Affordable has not done well for us, and that is something we want to sunset over a period of time. We have to fulfil our customer commitments, which we will do over time," Sinha said. The company currently has affordable housing projects under the Mahindra Happinest brand in Palghar and Kalyan near Mumbai, as well as in Chennai. The company is focusing on outright land purchases, joint development agreements (JDA), and housing society redevelopment. "We are not yet venturing into slum rehabilitation projects. Maybe in the future, high-risk, high-reward business, but we will see if we can execute well on these deals that we already have, then we will look at slum rehabilitation projects," Sinha said. "I think we have to do a lot to first change the brand perception. I think we are trying to be a little bit cool, a little bit different, to create that brand appeal. So that is the first part that we are doing.' In 2024, Sinha told that the company plans to rebrand itself as a premium housing company and expand further into the Mumbai, Pune, and Bengaluru real estate markets. Also Read: Mahindra Lifespaces wins redevelopment deal worth ₹950 crore for three Mumbai housing societies 'We now have premium projects and will rebrand ourselves accordingly," Sinha had said. Alluding to Mahindra's SUV cars, Sinha had said that these come with fully loaded features. "If you look at Mahindra's XUV700, it is a premium car which makes you feel that you got a sweet deal. If you were to buy a GLE or X5 or some car with equivalent features and a powerful engine, it would cost you three times more. We want to give the same feel when it comes to homes. Our projects should have the best space index, greenery, amenities, right price point and social infrastructure," Sinha had said. The company's profit for Q4FY25 grew by 19.02% year-on-year (Y-o-Y) to ₹85.1 crore, and revenue from operations dipped by 35.4% Y-o-Y to ₹9.24 crore. Its total expenses stood at ₹72.04 crore, down by 3.72% Y-o-Y. In the pre-sales segment, the company closed sales worth ₹1,055 crore, down by 2.9% year-on-year. On the business development end, the company added projects with a gross development value (GDV) of ₹3,650 crore in Q4FY25 as against ₹2,040 crore in Q4FY24. Also Read: Mahindra Lifespace targets ₹1200 crore revenue from two housing redevelopment projects in Mumbai Mahindra Lifespaces was established in 1994 and has a development footprint spanning 41.11 million sq ft (saleable area) of completed, ongoing and forthcoming residential projects across seven Indian cities.
Time of India
26-05-2025
- Business
- Time of India
Clear encroachments to widen major city roads: Experts to JDA
1 2 Jaipur: As traffic in Jaipur is increasing by leaps and bounds, experts and officials of Urban Development Department believe that JDA and other civic bodies should clear encroachments to widen all major roads in the city. They assert that, according to the city's Master Plan, almost all major roads are encroached upon with permanent or temporary constructions. The list includes even a stretch of Sirsi Road – starting from Hatwara Road Tiraha to Tank Road Tiraha, comprising Hasanpura area. "There are encroachments on Ajmer Road, Sirsi Road, Kalwar Road, Mahal Road, the 80-Feet Road in Arjun Nagar, Gopalapura Bypass Road, and on the Jhalana Bypass. To be precise, you name any major road of the city, you would find the roads are encroached upon and the width is far less than the master plan of JDA. With traffic growing significantly, the civic bodies shall ensure to remove these encroachments before they start acquiring govt papers," said a senior traffic official from Jaipur Commissionerate, on condition of anonymity. Neha Khullar, project director of Muskan Foundation for Road Safety, said, such encroachments not only cause traffic congestion but are also vulnerable to road accidents. These encroachments, permanent or temporary were the main cause of several recent road accidents on city roads Speaking to TOI, a senior JDA town planner claimed that these problems occur due to a lack of coordination with JDA, other civic bodies, and other departments of the state govt. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo While JDA determines the size and limitations of properties, the municipal corporations and a few other concerned departments issue licenses to these establishments. "It has been observed that whenever the encroachment department went for an eviction drive, the shopkeepers showed them valid licences claiming their structures as 'legal'. It results in a legal battle, and we are left with no options other than the court's directive. In the case of this Sirsi Road eviction, the drive became possible only after strong directives from the division bench of Justice Inderjeet Singh and Justice Anand Sharma," the town planner said.
Business Standard
26-05-2025
- Business
- Business Standard
Kolte-Patil Developers rallies on reporting turnaround PAT of Rs 65 cr in Q4
Kolte-Patil Developers jumped 4.23% to Rs 405.50 after the company reported consolidated net profit of Rs 65.29 crore in Q4 FY25 as compared with net loss of Rs 27.11 crore posted in Q4 FY24. Revenue from operations jumped 36.53% year on year (YoY) to Rs 718.67 crore in the quarter ended 31 March 2025. The company reported a profit before tax of Rs 101.26 crore in Q4 FY25, compared to a pre-tax loss of Rs 44.63 crore in the corresponding quarter of the previous year. The firm reported an EBITDA of Rs 111.9 crore in Q4 FY25, compared to a negative EBITDA of Rs 8.7 crore in Q4 FY24. The companys EBITDA margin stood at 15.5% in Q4 FY25, against a negative margin of 1.7% in Q4 FY24. New area sales value decreased 15% to Rs 631 crore, and the collections were up 19% to Rs 704 crore in Q4 FY25 over Q4 FY24. The volume for new area sales tumbled 23% to 0.80 million sq. ft and the realization rose 9% to Rs 7,904 per sq ft. On a full-year basis, the company reported a consolidated net profit of Rs 106.56 crore in FY25 as against a net loss of Rs 69.35 crore in FY24. Revenue from operations jumped 25.22% YoY to Rs 1,717.38 crore in FY25 Also Read Atul Bohra, Group CEO, Kolte-Patil Developers, said, FY25 has been a strong year for the company, with milestones achieved on various operational and financial metrics - total income of Rs 1,764 crore, collections of Rs 2,432 crore, and operating cash flows of Rs 880 crore. FY25 EBITDA at Rs 227 crore registered a strong growth of 252% YoY. This has been achieved on the back of strong execution, healthy registrations, and active customer engagement. Average realizations improved by 8% reflecting our disciplined pricing strategy across geographies. Our flagship Life Republic township continued to perform well, contributing around 1.9 mm. sq. ft. to volumes. New launches contributed 42% of annual sales, reinforcing market traction. We also signed a strategic approximately 22-acre JDA in Pune with a GDV potential of Rs 4,000 crore, adding to our future growth pipeline. The residential demand is expected to sustain and remain broad-based across mid-income, premium, and luxury segments. And, in our pursuit of redefining living, we are committed to customer satisfaction across segments and geographies. As one of the leading real estate developers with a strong presence in Pune and a growing footprint in MMR and having created a solid foundation for multi-year growth, Kolte-Patil is well-positioned to capitalize on the opportunities and deliver long-term value. Kolte-Patil Developers is a real estate company with a dominant presence in the Pune residential market and a growing footprint in Mumbai and Bengaluru. The company has developed and constructed over 68 projects, including residential complexes, integrated townships, commercial complexes, and IT parks, covering a saleable area of over 30 million square feet across Pune, Mumbai, and Bengaluru.
