News in brief
The UPA government’s ambitious task of setting up a regulator for the country’s road sector will have to wait till the new government assumes power as the law ministry is yet to finalise its comments. As per the proposal, the authority will be a three member body with the option of upgrading it to seven if needed. The road sector has not been able to make much progress with developers shying away from projects on account of equity constraints and alleged regulatory complexities.
Infrastructure firm Sadbhav Engineering has won a `212 crore highways project from NHAI in Rajasthan. The scope of the project will be widening and strengthening of Jodhpur- Barmer section of NH-112. The project falls under National Highway Development Project (NHDP), phase IV to be constructed under engineering, procurement and construction mode. The construction period of the project is 910 days from appointed date. The maintenance period for the project is for four years.
Godrej Properties, the Mumbai-based real estate developer, in a joint partnership, will soon develop a new residential township project in north Bengaluru. The real estate arm of the Godrej Group has entered into an LLP to develop this township project which will spread across 100 acre. The project is planned to be developed as an integrated township with a mix of residential units as well as a school, convenience retail, and other amenities.