Ambedkar Sports City moves a step closer to reality, tender process begins
Executive committee of the authority, held recently, gave green signal to issue the tender. The authority plans to implement the project using corporate social responsibility funds. Total estimated cost of the project is Rs 90 crore.
The project is being implemented after demolishing the existing Ambedkar Stadium. The stadium, located in the city centre, was in a dilapidated condition. It was around two years ago that the executive committee of GCDA granted approval for demolition of the existing stadium to set up a sports city.
Design of the new stadium is almost finalized.
GCDA completed demolition of galleries of the existing stadium using Rs 2 crore allotted by 2024-25 state budget.
"We are considering appointing a govt-accredited agency like Uralungal Labour Contract Cooperative Society for the construction works. Discussions are ongoing," said a source.
A football stadium will be constructed along with other sports facilities. Adequate lighting and toilet facilities will be ensured. There will be an exclusive parking area for the new stadium.
Before starting the work, GCDA has to shift 72 shops that are functioning in the old stadium building. A GCDA official said the project to rehabilitate vendors will be completed soon.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
9 minutes ago
- Time of India
Capital raised by real estate firms triples in FY25: Equirus Capital
NEW DELHI: Capital mobilisation by real estate companies has more than tripled in FY25, touching Rs 3,28,526 million, up from Rs 1,09,554 million in FY24, according to Equirus Capital . The number of deals also surged from 5 to 17 over the same period. Large-cap players led the fundraising, clocking Rs 3,93,898 million, followed by REITs at Rs 3,12,012 million. Small-cap and mid-cap firms raised Rs 66,938 million and Rs 52,626 million, respectively. Equirus Capital noted that returns from Real Estate Investment Trusts (REITs) stood at 17.9% for the 12-month period ending June 23, 2025—nearly three times higher than Sensex returns of 6.1%. In contrast, listed large, mid, and small-cap real estate stocks posted negative returns in the same period. However, from a longer-term perspective starting March 2021, small-cap real estate companies have emerged as the best performers, followed by mid-cap players, outperforming other segments and even the benchmark Sensex
Time of India
10 minutes ago
- Time of India
Radhakishan Shivkishan Damani portfolio: Ace investor's NSE stake hits Rs 9,300 crore ahead of IPO; exchange becomes his No. 2 holding by value after DMart
As the National Stock Exchange (NSE) moves closer to its long-awaited IPO, ace investor Radhakishan Damani 's early-stage investment in the bourse is delivering massive paper gains. His 1.58% stake—equivalent to 3.91 crore shares—is currently valued at around Rs 9,300 crore in the unlisted market, based on the latest grey market price of Rs 2,389 per share. This makes NSE Damani's second-largest holding by value, trailing only Avenue Supermarts ( DMart ), the retail major he founded, and placing it ahead of other notable portfolio bets such as Trent (Rs 2,788 crore) and VST Industries (Rs 1,560 crore). While it remains unclear whether Damani plans to offload any of his NSE shares during the IPO, the listing is poised to become a significant catalyst for his overall net worth, according to an ET report. The NSE stake stands out in a portfolio best known for high-conviction plays in consumer-facing sectors. Damani's core holding in DMart is currently valued at Rs 1.92 lakh crore. His investment in NSE reflects a broader strategic shift into financial infrastructure—low-noise, high-value assets with long-term tailwinds. As per data available for March 2025, Damani's portfolio across 12 publicly disclosed companies stands at over Rs 1.99 lakh crore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo The NSE holding, now nearing Rs 10,000 crore in value, could add a powerful new dimension to that tally once the exchange is listed. The NSE IPO is expected to attract strong investor interest, given the exchange's dominant market share in cash equities, robust financials, and the resolution of key regulatory hurdles. The exchange received SEBI's green light to file its Draft Red Herring Prospectus (DRHP), with a potential listing likely by the final quarter of FY26. While legacy issues such as co-location and dark-fibre access had delayed NSE's IPO plans in the past, the resolution of these concerns has cleared the way for a formal listing process. Analysts expect strong demand for the issue, driven by the scarcity of listed plays in the financial infrastructure space. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
17 minutes ago
- Time of India
'Our maid is richer than us now': Redditor on how blue-collar families earning lakhs without paying any tax
A viral Reddit post sparked debate about income disparity in India, revealing a domestic worker's family earning a substantial tax-free income, potentially exceeding that of some middle-class households. This situation raises questions about the true definition of middle class and the fairness of the current taxation system, highlighting the economic realities faced by many. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads A Reddit post has gone viral after a user claimed that their domestic help is earning more than their own household—without paying any income tax . The post highlights how many blue-collar families in India are making lakhs a month while still availing government subsidies and remaining outside the formal tax Redditor, who lives in a tier-3 city, shared details about their longtime maid, who has become a close friend of their mother over the years. Despite having no formal education, the maid is described as sharp and street-smart, handling finances with ease and relying on the Redditor's mother only for major user recounted a recent conversation where the maid mentioned her youngest son—a self-proclaimed dropout who convinced her to buy a Rs 50–60K OnePlus phone under the pretense of 'online studies.' In reality, he uses it for gaming and social the same conversation, the maid casually revealed that her husband had inherited a large piece of land, which the family plans to rent out. This led to a breakdown of their current and projected household income:She works in three homes and earns Rs 30,000/month (9 am–5 pm schedule)Her husband, a daily wage laborer, makes Rs 35,000/month on averageHer eldest son works at a saree shop earning Rs 30,000/monthHer daughter, currently learning tailoring, earns Rs 3,000/month, soon to make Rs 15–20K/monthHer youngest son is learning plumbing and is expected to earn Rs 15–25K/month soonTheir current income is Rs 98,000/month, expected to increase to Rs 1.25–1.35 lakh in a few months—all completely live in a modest rented home (Rs 6,000/month) and receive most of their food rations for free under government schemes. They also own a rural home (under a PM Yojana) that they rent out and plan to earn an additional Rs 30–40K every quarter by leasing inherited land for Redditor acknowledged the maid's hard work and said they were genuinely happy for her. But the post ended with a pointed reflection:'It does make you wonder... who really belongs to the middle class now? If you purely go by income, many blue-collar families are earning Rs 1–1.5 lakh a month—tax-free. How many of us can say the same?'The post sparked a heated discussion. One user agreed, writing: 'The roadside panipuri seller easily earns as much as I do. But I'm in an AC office while he toils in the sun. I pay my taxes and daydream about owning a panipuri stall.'Others disagreed. One noted the unpredictability of such work: 'There's no job security. A chaiwala could be banned from selling at stations any day.'Another user pointed out a flawed comparison: 'You're adding up the income of five people and comparing it to one salaried person's pay. That's not apples to apples.'The post reflects a growing sentiment among India's salaried middle class—questioning income disparity, taxation fairness, and the definition of economic class in today's India.
