#WeeklyNewsRoundup: Uttarakhand, DMRC To Build Metro On Haridwar-Rishikesh-Dehradun Route

The Uttarakhand government has signed a pact with the Delhi Metro Rail Corporation (DMRC) to introduce the Metro rail in the hill state. In the first phase, the Metro line will be built between Dehradun and Rishikesh. In the second phase, the Metro lines will be laid on Dehradun-Haridwar and Dehradun-Kalsi route. Officials said the total cost of the project is estimated to be Rs 250 crore per km.

Maharashtra Chief Minister Devendra Fadnavis said the state government would soon give its clearance to the second phase of the Pune metro rail project. The state government also plans to integrate the services of metro rail and buses of the Pune Mahanagar Parivahan to strengthen the city's public transport system. Prime Minister Narendra Modi had inaugurated the first phase of the metro project on 24th December.

Markets regulator Securities and Exchange Board of India (Sebi) recently put in place detailed guidelines for the public issuance of the Real Estate Investment Trusts (REITs), including allocation of units to institutional investors. While the trusts, its promoters and directors, which have been barred from accessing the securities markets, or those in the 'wilful defaulter' list would not make any public issue, in a circular by Sebi said up to 75 per cent would be allocated to institutional investors and 25 per cent to other investors.

In Navi Mumbai, six land tender plots for residential-cum-commercial purpose have fetched Cidco a whopping Rs 177 crore. While five plots put up for bidding were in Sanpada, Sector 8; the sixth plot was in Nerul's Sector 38. In June this year, Cidco had sold four tender plots in Sanpada and Nerul areas for a Rs 319 crore.