Schneider Electric powers future with smart automation
Cabinet nod for revised SHAKTI coal policy IIT expansions and major skilling push
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a revised SHAKTI coal linkage policy to support capacity addition by thermal power plants and reduce dependence on coal imports, amid surging national power demand.
The revamped SHAKTI (Scheme for Harnessing and Allocating Koyala Transparently in India) policy will allow coal procurement by thermal generators in two categories: central and state-run generators at notified prices, and private generators through competitive bidding at a premium above the notified rate. State-owned miners Coal India Ltd and Singareni Collieries Co. Ltd will operationalise the scheme. The policy is expected to ease procedural hurdles, enable pithead-based greenfield thermal projects, and promote energy self-sufficiency. It will also allow the sale of un-requisitioned surplus power under existing PPAs through power exchanges, increasing liquidity and offering efficient pricing for DISCOMs and commercial users.
India’s power demand continues to climb, driven by post-pandemic industrial recovery and extreme summer conditions. Peak demand is forecast to hit a record 270 GW this year, up from 250 GW in May 2024. In parallel, the cabinet approved ₹11,800 crore for academic and infrastructure upgrades at five Indian Institutes of Technology—Tirupati, Palakkad, Bhilai, Jammu, and Dharwad—over FY26 to FY29. The plan will add 6,500 student seats, 130 new professor-level positions, and five new research parks to deepen industry-academia collaboration. Further, the National Scheme for Industrial Training Institute (ITI) upgradation and the creation of five National Centres of Excellence (COEs) for Skilling were also cleared. With a total outlay of ₹60,000 crore, the scheme aims to modernise 1,000 ITIs and train 2 million youth over five years. Funding will be shared by the Centre (₹30,000 crore), states (₹20,000 crore), and industry (₹10,000 crore), with additional support from the Asian Development Bank and World Bank. For the first time, an industry-led Special Purpose Vehicle (SPV) model will be adopted for ITI upgrades.
Officials said past financial support was insufficient to meet evolving infrastructure and technological needs. The new funding model will allow need-based investments in modern, capital-intensive skill development programmes.
Cabinet nod for revised SHAKTI coal policy IIT expansions and major skilling push
Housing Prices Stabilise in Q1 2025
India’s residential property market is showing early signs of stabilisation, with a notable slowdown in price growth across major cities.
According to Real Insight Residential: Q1 2025, released by PropTiger.com, a part of REA India, the market is entering a phase of cautious consolidation after a sharp post-pandemic surge. While property prices continued to rise on an annual basis, quarter-on-quarter growth moderated in Q1 2025. Cities such as Bengaluru and Hyderabad led with 5% quarterly gains, with average rates climbing to ₹7,881 and ₹7,412 per sq ft, respectively. However, key mature markets like Delhi NCR, MMR, Pune, and Chennai posted flat growth for a second straight quarter—marking a pause after a period of aggressive appreciation. Mid-tier markets followed a similar trend. Ahmedabad registered a 4% QoQ increase after a dip in Q4 2024, and Kolkata mirrored this performance with a 4% rise, recovering from previous declines. Pune remained stable at ₹7,109 per sq ft, showing price resilience after strong upward movement last year.
“The moderation in price growth over the past few quarters signals a more stable market, likely to attract genuine homebuyers who were previously sidelined,” said Dhruv Agarwala, Group CEO of Housing.com and PropTiger.com. He added that a balanced trajectory is essential to support end-user participation without undercutting long-term investor confidence. From Q3 2024 onward, the report notes a consistent tapering in momentum. Even high-growth markets like Delhi NCR, which had recorded double-digit annual gains, saw no movement in Q1 2025. This suggests that the residential segment is aligning more closely with real demand rather than speculative trends. Macro factors driving this shift include a greater proportion of end-users among buyers, rational investor behaviour, and a recalibrated supply pipeline that better reflects market needs. As developers adjust their strategies, new launches are expected to become more measured and targeted.
The report concludes that this phase of cautious consolidation will help ensure healthier long-term growth for India’s housing sector, underpinned by structural strength and market discipline.
Housing Prices Stabilise in Q1 2025
India Boosts Green Energy with 810 MW Project
NLC India Renewables Limited (NIRL) has formalised a power purchase agreement (PPA) for its largest solar power initiative to date—a massive 810 MW solar project to be developed at the Pugal Solar Park in Rajasthan’s Bikaner district.
The agreement was signed with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) at a high-level event in Jaipur, signalling both public sector commitment and state-level support for India’s renewable ambitions. A 100% subsidiary of NLC India Limited (NLCIL), NIRL is positioning itself at the vanguard of India’s energy transformation. The 810 MW project will be part of the Ministry of New and Renewable Energy’s Ultra Mega Renewable Energy Power Park (UMREPP) initiative, aimed at maximising India’s solar potential while leveraging competitive tariff mechanisms.
The Bikaner region—characterised by its arid, sun-drenched terrain—provides a strategic location for large-scale solar power generation. Upon completion, the project is expected to generate over 2 billion units of clean electricity annually, directly displacing nearly 1.5 million metric tonnes of carbon dioxide emissions each year. The infrastructure will be integrated into RVUNL’s 2,000 MW Pugal Solar Park, further streamlining implementation. At the signing ceremony, NLCIL Chairman and Managing Director Prasanna Kumar Motupalli described the project as a defining moment in the organisation’s clean energy journey. “This 810 MW solar project reflects our unwavering commitment to India’s green energy roadmap. It is more than a project; it is a pledge to a low-carbon, sustainable future,” he stated.
Beyond the immediate environmental benefits, the project underscores the strategic synergy between central and state public sector units to push forward national decarbonisation goals. It also demonstrates how central public enterprises can effectively leverage underutilised landscapes—like Bikaner’s barren tracts—for productive, climate-positive outcomes. NLCIL has already embarked on an aggressive renewable energy expansion strategy, aiming to achieve a portfolio of 10 GW in green energy capacity by 2030. This aligns seamlessly with India’s broader objectives of achieving energy security while honouring its commitments under the Paris Agreement.
In addition to solar projects, the company is exploring diversified investments in Rajasthan, including up to 2,000 MW of renewable energy and lignite-based power projects in joint venture formats. These developments are likely to boost local employment, infrastructure, and regional economic activity in a state that continues to be a renewable energy leader. As India navigates its path to a net-zero economy, public sector innovations like this solar project not only reflect the operationalisation of green policies but also highlight the critical role of cross-sectoral partnerships in executing large-scale, sustainable energy infrastructure.
India Boosts Green Energy with 810 MW Project
Prestige Estates launches Rs 10K cr project in NCR
Prestige Estates Projects Ltd has announced an investment of approximately ₹10,000 crore over the next six years to develop a 62.5-acre integrated township in Ghaziabad, Uttar Pradesh.
This ambitious project, named ‘The Prestige City, Indirapuram’, marks the company’s foray into the region’s residential sector, aiming to set new benchmarks in quality and timely delivery. The township is planned to encompass around 10 million square feet of built-up area, including 4,041 residential units and an 800,000 square foot shopping mall. The development will be executed in two phases, with the first phase comprising 3,421 apartments across 19 towers, offering a mix of 2 and 3 BHK homes, as well as 3 and 4 BHK units with home office spaces. Unit sizes will range from 1,300 to 6,026 square feet, catering to diverse buyer preferences.
The project has already witnessed robust demand, with 1,200 units sold within the first week of launch, generating sales exceeding ₹3,000 crore. Apartments are priced between ₹1.5 crore and ₹4 crore, reflecting the premium positioning of the development. The total Gross Development Value (GDV) of the project is projected at ₹12,000 crore, with the first phase accounting for over ₹9,000 crore. The construction cost alone is estimated at ₹8,000 crore, with additional expenses for land acquisition and approvals bringing the total investment to around ₹10,000 crore.
Prestige Estates’ entry into the Delhi-NCR residential market is part of its broader strategy to expand its footprint across India’s key urban centres. The company is already developing a commercial project at Delhi’s Aerocity, comprising hotels and office spaces, and is exploring opportunities in other parts of the region, including Gurgaon and Noida The ‘Prestige City, Indirapuram’ project aims to address the demand for high-quality housing in the region, focusing on timely delivery and adherence to regulatory standards. The development will also incorporate sustainable design principles, aligning with the company’s commitment to creating eco-friendly and equitable urban spaces.
This initiative comes at a time when the Delhi-NCR real estate market is witnessing renewed interest from both developers and buyers, driven by improved infrastructure, policy reforms, and a growing preference for integrated townships that offer a blend of residential, commercial, and recreational facilities. By investing in such large-scale, mixed-use developments, Prestige Estates aims to contribute to the creation of sustainable and inclusive urban communities, setting a precedent for future projects in the region and beyond.
Prestige Estates launches Rs 10K cr project in NCR
Ajay Devgn Rents Mumbai Office for Rs 5.47 Lakh
Mumbai’s commercial real estate market continues to attract big-ticket interest from celebrity investors, with actor and entrepreneur Ajay Devgn strengthening his real estate footprint through a fresh leasing agreement in the city’s sought-after Andheri West locality.
According to recently accessed property registration documents, Devgn has leased out a premium office space of 2,545 square feet for ₹5.47 lakh per month for a tenure of five years, adding to his expanding commercial property portfolio in the metropolis. The leased premises, located in the Signature building on Veera Desai Road, are part of a high-end commercial project known for its premium amenities and strategic accessibility. The tenancy began in May 2025 and will continue until April 2030. Registration documents confirm that the lease was formally executed on May 2, 2025, with a stamp duty of ₹85,500 and a nominal registration fee of ₹1,000. A security deposit of ₹16.42 lakh has been placed for the transaction.
The office unit leased is part of a trio of contiguous commercial spaces that Devgn acquired in April 2023, each measuring approximately 2,545 sq ft. The combined value of the three units, as per market data, stood at ₹30.35 crore, pegging each unit at around ₹10.12 crore. Based on the agreed rental value and acquisition cost, real estate analysts estimate a rental yield of 6.5% in the first three years of the lease term, which is expected to rise to 7.5% in the final two years, post an agreed rent escalation to ₹6.29 lakh monthly. Industry insiders note that this lease deal is a continuation of Devgn’s methodical and strategic investment approach in Mumbai’s growing Grade-A commercial spaces. The Signature building itself has become a notable hub for creative and business professionals, with proximity to major production houses, corporate offices, and social infrastructure in the western suburbs. This is reflective of the actor’s ongoing commitment to diversifying investments while aligning with growth corridors in Mumbai’s real estate market.
In total, Ajay Devgn has acquired five office units in the Signature building, which collectively span over 13,000 sq ft across the 16th and 17th floors. These units are accompanied by 14 parking slots, signalling a premium investment in both real estate and commuter convenience. The scale of this investment—totalling ₹45.9 crore—underscores his confidence in Mumbai’s commercial property sector amid ongoing shifts in work culture and space demand. While neither Devgn nor the current tenant, Bombay Design Centre Private Limited, have issued public statements on the lease, the transaction follows a series of similar deals executed by the actor in recent months. In June 2024, Devgn was reported to have leased over 4,200 sq ft in the same Signature tower for ₹9 lakh per month. Later that year, in September, he signed another commercial lease for a 3,455 sq ft unit at ₹7 lakh monthly. These sequential moves have positioned him as a significant landlord in the western suburbs’ commercial leasing landscape.
Also in September 2024, Devgn renewed a lease agreement for two commercial office units totalling 1,500 sq ft in Andheri, continuing a partnership with Saraswat Co-operative Bank Limited. This renewal extends the lease from December 2023 to December 2028, building on a prior term that spanned five years. Market experts point out that the consistent interest from high-profile individuals like Ajay Devgn not only reinforces market sentiment but also adds a layer of visibility and credibility to the city’s premium office zones. These investments contribute to the vitality of Mumbai’s urban ecosystem, encouraging more structured and sustainable commercial developments.
However, as urbanisation intensifies, there is growing public interest in how these real estate ventures align with sustainable city planning. Experts emphasise the need for energy-efficient building practices, inclusive design, and green certifications to ensure that such developments contribute positively to Mumbai’s long-term ecological goals. While details about the environmental credentials of the Signature building are not public, its increasing popularity among leading business and entertainment professionals signals a shift towards more consolidated, well-serviced, and strategically located workspaces. This trend is especially relevant as Mumbai looks to redefine its urban planning priorities to meet sustainability benchmarks and support equitable economic development.
As real estate continues to evolve alongside shifting urban dynamics, Ajay Devgn’s calculated investments mirror a broader trend among high-net-worth individuals exploring asset diversification in premium, rent-yielding properties. With Mumbai’s office demand showing signs of resilience despite economic uncertainties, the latest lease underscores both optimism and long-term vision in the city’s real estate corridors. Whether these investments will influence broader adoption of sustainable practices in commercial realty remains to be seen. Still, the involvement of public figures like Devgn brings renewed focus to responsible urban development—a shift that could prove vital for cities aiming to become greener, more inclusive, and economically resilient.
Ajay Devgn Rents Mumbai Office for Rs 5.47 Lakh
NMMC promotes eco urban growth with green workshop
The Navi Mumbai Municipal Corporation (NMMC) convened a comprehensive workshop titled ‘Green City – Green Building’ at its CBD Belapur headquarters.
This initiative underscores the city’s commitment to integrating eco-friendly practices into its infrastructural growth, aligning with broader environmental objectives. Organised in collaboration with the Indian Green Building Council (IGBC), the workshop served as a platform for stakeholders to delve into practical strategies for adopting green construction methodologies. Discussions centred on minimising environmental impact through sustainable land use, urban transport planning, and infrastructure development. The IGBC team elaborated on its rating system, designed to promote sustainable practices across various sectors, including citizen welfare.
Experts from the IGBC led sessions on diverse aspects of green buildings, providing insights into the implementation of eco-friendly designs and materials. These sessions aimed to equip participants with the knowledge required to transition towards more sustainable construction practices. A senior official from NMMC emphasised the necessity of integrating environmental considerations into all development projects, highlighting it as a collective social responsibility. The official advocated for the incorporation of green building norms in future school constructions under NMMC’s jurisdiction, aiming to instil eco-consciousness among students from an early age.
Another NMMC official recalled the city’s pioneering role in the green movement, noting that the NMMC headquarters was once India’s largest green-rated building. The official urged developers to prioritise eco-friendly practices in all new projects, reinforcing Navi Mumbai’s leadership in sustainable urban development. An architect associated with the IGBC highlighted India’s emergence as a global leader in sustainable urban development, attributing this progress to the concerted efforts of organisations like the IGBC. The architect expressed confidence in Navi Mumbai’s potential to set new benchmarks in the field of green infrastructure.
Navi Mumbai’s commitment to sustainability is further evidenced by its headquarters’ LEED Gold certification, awarded under the LEED INDIA New Construction rating system by the IGBC. The building incorporates various sustainable features, including efficient lighting systems, water reuse mechanisms, and rainwater harvesting, serving as a model for future constructions. The city’s proactive approach extends beyond workshops and certifications. Initiatives like the Eco-City Project aim to conserve resources and reduce carbon emissions by integrating sustainable development concepts into urban planning, waste management, and biodiversity conservation. These efforts reflect a holistic strategy to transform Navi Mumbai into a model eco-friendly city.
As Navi Mumbai continues to evolve, the NMMC’s emphasis on sustainable development through green building practices positions the city as a frontrunner in eco-conscious urban planning. The collaborative efforts between municipal authorities, industry experts, and organisations like the IGBC are instrumental in steering the city towards a greener, more sustainable future.
NMMC promotes eco urban growth with green workshop
Hyderabad Housing Sales Drop 58% in Q1 FY25
Hyderabad’s once-thriving housing market is witnessing a sharp downturn, with residential sales plunging 58% in Q1 FY25 compared to the same period last year.
According to PropEquity data, the decline reflects a sustained slowdown that has persisted over the past three quarters, driven primarily by waning demand in the luxury housing segment. Once among the fastest-growing property hubs in India, Hyderabad now faces a stockpile of unsold residential units. Industry analysts attribute this to overambitious launches during the post-COVID boom and a lag in absorption. Anarock estimates that between 70,000 to 90,000 housing units were launched in the city between 2021 and 2023. However, as of Q1 2025, over 28,000 of those, mostly luxury units, remain unsold. This excess inventory equates to nearly 20 months of supply — among the highest across India’s top real estate markets. Despite a robust pipeline of launches in western suburbs like Gachibowli and Kokapet, developers are now facing increasing buyer hesitation. Many prospective homeowners are delaying purchases due to price sensitivity and stagnant income growth, especially in premium and mid-segment categories.
Further complicating the outlook is the high vacancy rate in Hyderabad’s commercial real estate sector. Anarock reports that over 28 million square feet of office space remains unoccupied, much of it having entered the market recently. This dual oversupply — in both residential and commercial segments — is compelling developers to rethink strategy. Market watchers say that the current conditions are prompting a shift away from high-ticket projects toward smaller, affordable housing. Developers are expected to postpone premium launches and focus instead on compact, budget-friendly homes until absorption levels improve. Price corrections are also anticipated, with experts predicting a marginal dip or flat pricing in the near term, depending on how fast the inventory clears. In contrast, other major cities such as Pune and Bengaluru are displaying greater resilience. Bengaluru continues to benefit from steady end-user demand, while Pune’s expanding IT and industrial base is supporting sustained sales in the mid-income housing segment.
The contrasting performance highlights how local economic conditions, employment generation, and infrastructure readiness directly shape real estate sentiment. For Hyderabad, the current correction phase could pave the way for a more sustainable and demand-driven market — provided macroeconomic stability is maintained. As developers recalibrate their offerings, the success of Hyderabad’s housing market recovery will depend on how swiftly and effectively the excess inventory can be absorbed.
Hyderabad Housing Sales Drop 58% in Q1 FY25
Primegold Embraces Sustainable Steel Manufacturing
Primegold Steel has announced its transition to green steel production, aligning with India’s ambitious Green Steel Mission.
This initiative positions Primegold at the forefront of the nation’s efforts to decarbonize its steel industry, which currently accounts for a substantial portion of the country’s carbon emissions. The Indian government’s Green Steel Mission, a ₹15,000 crore initiative, aims to reduce carbon emissions in the steel sector by promoting the production and procurement of low-carbon steel. The mission includes incentives for renewable energy usage, a Production Linked Incentive (PLI) scheme for green steel, and a mandate for government bodies to purchase green steel. A key component of this mission is the establishment of a star-rating system to assess the emissions intensity of steel products, with five stars awarded to steel emitting less than 1.6 tonnes of CO₂ per tonne of finished steel .
Primegold’s commitment to green steel production involves adopting cleaner technologies and processes that significantly reduce carbon emissions. The company plans to utilize renewable energy sources and implement energy-efficient practices in its manufacturing operations. This transition not only supports national sustainability goals but also enhances Primegold’s competitiveness in a market increasingly focused on environmental responsibility. The move to green steel is timely, as India faces increasing pressure from international markets to meet environmental standards. The European Union’s Carbon Border Adjustment Mechanism (CBAM), set to impose tariffs on carbon-intensive imports, underscores the need for Indian steel producers to adopt low-carbon technologies to maintain market access .
Furthermore, the adoption of green steel aligns with global trends towards sustainable manufacturing. Countries worldwide are investing in green steel technologies, recognizing the sector’s potential to contribute to climate goals and economic growth. India’s leadership in defining green steel standards and implementing supportive policies positions it as a key player in the global green steel market . Primegold’s transition to green steel production is a commendable step towards sustainable manufacturing. By aligning with national initiatives and global trends, the company not only contributes to environmental conservation but also strengthens its position in an evolving market. This move serves as a model for other steel producers in India and beyond, demonstrating that economic growth and environmental responsibility can go hand in hand.
Primegold Embraces Sustainable Steel Manufacturing
Adani Power Secures 1500 MW Supply Deal with Uttar Pradesh
