Development Watch – Week #3 July ’22
Development News
AIIMS Hospital inaugurated in Deoghar, Jharkhand
The state of Jharkhand got its first All India Institute of Medical Sciences (AIIMS) Hospital on 12 July, 2022. The campus has been set up in Deoghar under the PM Swasthya Suraksha Yojana (PMSSY). AIIMS Deoghar is a 750 bed state-of-the-art multi-specialty hospital. The 230 acres campus has a 100 seats academic college. The architecture of the institute is inspired from the Baidyanath Temple in Deoghar. The project has been developed by NBCC and NKG infrastructure.
L&T Realty to develop projects worth 8,000 Crores in Mumbai
L&T Realty has entered into a binding agreement to jointly develop projects in south Mumbai, western suburbs and Thane. The south Mumbai project will be developed over a land parcel of 5 acres. These would offer clear harbour views along the with good connectivity to all parts of Mumbai. This residential complex will have 50 storey twin towers with luxury amenities and retail. The total value of projects would be worth 8,000 Crores. They have a total developmental potential of 4.4 million sq ft.
Rural Tech startup raises $10 million dollars in funds
Bengaluru-based Faarms raised $10 million in funding rounds led by key investors. Faarms is a rural-tech startup that provides end-to-end solution for rural households. The range of services include door-step delivery of farming inputs, advisory, insurance, and banking services. The funds will be used for expanding Faarms’ geographical footprint in India, scale up their supply and distribution channels, and advancing their technological infrastructure. Currently, they operate in 50,000 villages and aim for expanding to 100,000 villages by year end.
Bid Awarded for construction of Executive Enclave in Central Vista
DEC Infrastructure, a Hyderabad-based construction firm, has emerged as the lowest bidder. The executive enclave in Central Vista Redevelopment Project (New Delhi) will house the PMO, the Cabinet Secretariat, the India House and the National Security Council. The bid amount is Rs. 1,189 Crores. Estimated cost also includes maintenance and housekeeping for 5 years.
Local Feedback
LocalFeedback.org aims to track and document actionable parameters that help improve urban and rural infrastructure. The founder, Susmita, has juggled diverse roles in real estate, project budgeting, valuation and execution on construction sites. Having traveled to more than 20 countries, she has worked across 4 regions in India. Her areas of interest include sustainable buildings, electric mobility and urban development. She visited top-ranking cities on livability indices and has presented published papers at international conferences.