Latest news with #FSI
Time of India
4 hours ago
- Politics
- Time of India
After Decades of Delay, 320 Model Mill Workers' Families to Finally Get Permanent Homes
1 2 3 Nagpur: Bringing an end to a decades-long struggle, 320 families residing in the historic Model Mill workers' colony in Ganeshpeth are finally set to receive ownership of permanent homes, thanks to years of persistent follow-up by Union Minister Nitin Gadkari and support from the state govt. The workers' settlement, one of Vidarbha's only mill colonies, has been home to generations of families since the mill's inception. Though efforts for its redevelopment began years ago, the project repeatedly stalled, most significantly during 2007–2012, when the then state govt reduced the Floor Space Index (FSI), shrinking redevelopment scope. Gadkari, along with Chief Minister Devendra Fadnavis and former Mayor Archana Dehankar, relentlessly pursued the issue to secure increased FSI and govt clearance. Following submission of a fresh proposal by the Nagpur Municipal Corporation (NMC), a special govt notification was issued between 2022 and 2024, approving redevelopment on one acre of the 3.16-acre land parcel. Construction for 320 families was sanctioned along with the required FSI enhancement. Recently, the appointed contractor received map approval, setting the stage for the project to begin. "We must get a written commitment from the contractor to finish construction within 22 months. A formal agreement should be signed," Gadkari advised workers' representatives during their meeting to express gratitude. Former Mayor Dehankar was also lauded by the colony's representatives for her two-decade-long support. BJP city president Dayashankar Tiwari, along with local leaders Prithviraj Shambharkar, Mohan Banaith, Deepak Banaith, Keshav Shrote, and others, were present during the meeting. This long-pending rehabilitation, now on firm ground, marks a significant urban justice milestone for one of Nagpur's most neglected working-class communities, as per the families.
Zawya
2 days ago
- Politics
- Zawya
United Nations Institute for Training and Research (UNITAR) and Foreign Service Institute (FSI) Sign Landmark Memorandum of Understanding (MOU)
The Gabriel L. Dennis Foreign Service Institute (FSI) of the Ministry of Foreign Affairs of Liberia, in partnership with the United Nations Institute for Training and Research (UNITAR), have formally entered into a Memorandum of Understanding (MOU) to advance diplomatic training and institutional collaboration. The signing ceremony was held at UNITAR Headquarters in Geneva, Switzerland, May 13, 2025. The agreement was signed by Amb. Reginald B. Goodridge, Sr. Director General of the Foreign Service Institute, and Ms. Michelle Gyles-McDonnough, United Nations Assistant Secretary General and Executive Director of UNITAR. In his remarks, Director General Goodridge highlighted the mission of the FSI and outlined several flagship programs of the Institute, including: The foundational academic curriculum for prospective diplomats; A 6-week refresher program for foreign service officers and newly appointed ambassadors designated by the President of Liberia; The 10-month All-Female Diplomatic Training Program, the first of its kind in Africa, aimed at promoting women's leadership in diplomacy. Director General Goodridge further noted that the dialogue leading to this partnership between the FSI and UNITAR was initiated by Mr. Charles Allen, whose efforts were instrumental in establishing this collaboration. He also shared that he is reviewing a number of agreements signed by his predecessors—including those with Qatar, Saudi Arabia, Cameroon, Morocco, Guinea and Egypt—with a view to developing a distinctly African framework for diplomacy rooted in inter-African cooperation. Speaking on behalf of UNITAR, Ms. Michelle Gyles-McDonnough, Assistant UN Secretary General and Executive Director of UNITAR, welcomed the partnership and reaffirmed UNITAR's commitment to a robust and impactful collaboration with the FSI, particularly in co-developing relevant and responsive foreign service training programs tailored to Liberia's needs. Mr. Philippe Aubert, Senior Program Specialist in the Division for Multilateral Diplomacy, presented an overview of UNITAR's offerings, including: An 18-month Master's Program delivered in hybrid and online formats for diplomats; Targeted training linked to the national priorities of host countries; and Various fellowship opportunities, some open to all applicants and others coordinated with academic institutions. He also highlighted UNITAR's long-standing relationships with countries such as Qatar and Saudi Arabia, and mentioned Qatar's recent proposal to establish a UNITAR Academy. Also forming part of the Liberian delegation were Permanent Representative (Amb.) Paul Wolokollie Tate and Counselor Abraham Kamara, representatives of the Permanent Mission of Liberia to the United Nations Office and other International Organizations in Geneva. This landmark MOU represents a critical step forward in enhancing the professional development of Liberian diplomats and reaffirms Liberia's commitment to global standards in foreign service training and diplomacy. Distributed by APO Group on behalf of Ministry of Foreign Affairs of Liberia.
Hindustan Times
2 days ago
- Business
- Hindustan Times
State seeks details on ₹1,500 Cr TDR approved by former Pune civic chief
The Maharashtra urban development department (UDD) has sought information from the Pune Municipal Corporation (PMC) over the issuance of transfer of development rights (TDR) worth nearly ₹1,500 crore, sanctioned by former municipal commissioner Rajendra Bhosale just before his retirement on May 31. A senior official said the UDD department has asked PMC to submit records and explanations about the approvals, which have sparked widespread criticism from citizens, activists, and political leaders. According to records published by PMC, Bhosale approved TDR within days before stepping down from office, raising eyebrows over the timing and the beneficiaries. Seven private builders had reportedly submitted proposals to the civic body seeking additional floor space index (FSI) by using the TDRs in question. 'This appears to be an attempt to benefit a few developers in a hurry. We had already raised concerns about the sudden spurt in TDR issuance, and now they are lining up for FSI clearances,' said BJP leader Ujwal Keskar. He said the UDD secretary had personally contacted the municipal commissioner's office for a detailed explanation. The TDR mechanism is intended to compensate landowners whose properties are reserved for public amenities by allowing them development rights that can be sold or used elsewhere. However, critics argue that the process under Bhosale lacked transparency and could lead to undue benefit to certain builders. Civic activists have questioned whether due diligence was followed in approving the TDRs, and why such a large quantum was cleared so close to the end of the commissioner's tenure. Allegations include lack of proper scrutiny, selective approvals, and attempts to push through the proposals without public consultation. 'Former municipal commissioner Rajendra Bhosale single-handedly opened a ₹1,500 crore TDR market under his authority. He sidelined the very existence of the 'City Improvement Committee',' said Vijay Kumbhar, RTI activist. Bhosale was unavailable for comments. The state government's intervention is likely to result in a formal review. According to PMC sources, documentation related to TDR approvals is being compiled for submission to UDD. The controversy comes at a time when Pune is already facing scrutiny over the misuse of development tools like TDR and premium FSI, which many claim have led to unplanned growth and burdened civic infrastructure.
Irish Examiner
2 days ago
- Business
- Irish Examiner
Structured environment key to continued growth
The concept of a national fintech hub is not new. Envisaged as a one-stop shop to provide fintech firms, from start-ups to established businesses, with access to sectoral experience and expertise and investment as well as opportunities to network, collaborate and innovate, proposals for a hub have been doing the rounds since at least 2023. In March 2024, the Government gave its formal backing to industry proposals for a hub in its Update to Ireland for Finance: Action Plan 2024 strategy document. 'Assessing the proposal for the establishment of a national fintech hub' was among six deliverables contained in the fintech and digital finance section. 'It is envisaged that the hub could be a natural landing space for multinational firms in the early stage of their entry to the Irish market, while also going a long way to addressing some of the challenges faced by indigenous firms on their digital transformation journey,' the document stated. Roll on seven months to October, 2024 and Ibec industry body Financial Services Ireland (FSI) put forward its vision for the hub which it said would help Irish fintech firms compete in the sector on a global scale and would cost €13.5 million over five years to operate. The FSI proposal was for a hub occupying between 10,000sq m and 50,000sq m of space in Dublin city centre. The capital was chosen 'due to its proximity to the headquarters of major financial services and technology firms and its easy connectivity for international visitors.'. Two months later, the new programme for government included a commitment to collaborate with industry on the establishment of a national fintech hub. The need for such a hub is undeniable, according to Ian Nelson, partner and head of financial services and regulatory with KPMG in Ireland. 'Ireland's financial services sector is a fundamental part of the national economy, employing thousands of people and contributes significant value to society,' he points out. Ian Nelson, partner and head of financial services and regulatory with KPMG in Ireland. 'With the global fintech industry continuing to expand rapidly, Ireland must position itself as a leading innovator to remain competitive. A dedicated fintech hub would provide a structured environment for start-ups, scale-ups, regulators and established financial institutions to collaborate, innovate, and drive technological transformation. It would also help in providing a mechanism for firms to access funding, talent and market intelligence.' The fintech hub could potentially serve as a physical and virtual centre for innovation, collaboration, and commercialisation, says Nelsonhe continues. 'Potential roles and associated activities could include co-working space for fintech start-ups and other businesses; innovation labs for testing, piloting and launching new technologies and sandboxes; regular networking events, workshops, and development sessions to foster idea exchange; potential access to mentoring, venture capital, and broader international market linkages; collaboration opportunities with regulators, academia, and corporates; and training and upskilling programmes tailored to fintech needs.' He envisages multiple benefits flowing from the hub, including stimulating innovation and entrepreneurship in financial services and enhancing Ireland's international competitiveness as a fintech destination. It would also help to 'attract and retain high-skill talent, provide a centralised support system for emerging fintechs, enable further regulatory clarity and faster go-to-market strategies through collaboration with regulators, and encourage foreign direct investment and boost Ireland's start-up ecosystem,' he adds. Nelson favours Dublin as a location – with a regional dimension – and believes cost should not be an issue. 'While the exact location would need to be determined through a feasibility studies and assessments, Dublin would be a potential choice due to its existing fintech cluster and infrastructure,' he says. 'However, regional presence and outreach will be essential to ensure national impact. The hub should be driven by government, trade agencies and industry on a combined basis. The cost is hard to estimate but international benchmarks would imply that sensible investment will pay for itself many times over.' With broad agreement from industry and Government on the need for a hub, it seems the only question now is when it will happen. Sadly, there is little clarity at present. In a written answer to a DáilDail question on May 29th last, Finance Minister for Finance Paschal Donohoe noted the commitment in the programme for government and said: 'Department of Finance officials are carrying out research and continue to engage with industry in exploring the possibilities for a National Fintech Hub.' No hard and fast commitments there, then. Nelson takes an optimistic view: 'Given that the expected feasibility study would be completed this year, a realistic timeline for launching a national fintech hub would be 18-24 months from now,' he says. 'An initial pilot or virtual hub model could be up and running sooner – potentially within 12 months – providing early value while the full physical infrastructure is being developed.'
Hindustan Times
2 days ago
- Business
- Hindustan Times
Lodha Developers acquires 945 transit camp apartments measuring 3.29 lakh sq ft for ₹567 crore from Arihant in Mumbai
Mumbai-based listed real estate developer Lodha Developers Limited has purchased 945 permanent transit camp (PTC) units, spanning over 3.39 lakh sq ft, from Arihant Construction Company in Mumbai's Mankhurd area for ₹567 crore, according to property registration documents accessed by CRE Matrix. The deal is linked to Lodha's ongoing project in Vikhroli, where, under the Slum Rehabilitation Authority (SRA) scheme, the developer is required to hand over a portion of built-up space to the SRA in exchange for additional construction rights for sale in the open market. Arihant Construction, which is undertaking a slum rehabilitation project in Mankhurd with over 83,000 sq m of free-sale component, is supplying these PTC units. To meet its obligations, Lodha will transfer the acquired units to the SRA. The documents show that the transaction forms part of a larger deal involving the transfer of free sale Floor Space Index (FSI) under the Development Control and Promotion Regulations (DCPR) 2034. Transit camp units are temporary housing accommodations provided to people, typically slum dwellers or tenants, who are displaced due to redevelopment projects, especially under slum rehabilitation or infrastructure development schemes. Slum Rehabilitation Authority (SRA) scheme is a government initiative aimed at redeveloping slum areas in Mumbai by providing free, permanent housing to eligible slum dwellers while allowing private developers to construct and sell residential/commercial units for profit on the remaining land The agreement allows Lodha to integrate the acquired Floor Space Index (FSI) into its own Vikhroli project, enabling the use of Arihant's free sale rights to develop residential and amenity spaces within the township. The transaction was registered on June 3, 2025, with a stamp duty of ₹34.02 crore and registration fees of ₹30,000 paid. Also Read: Maharashtra Tribunal backs homebuyers, orders Lodha Group to register portion of New Cuffe Parade Project with MahaRERA According to the documents, the arrangement falls under Regulation 33(11) of the DCPR 2034, which permits the clubbing of FSI between schemes for integrated development. This provision allows developers to transfer and utilise unused FSI from one project to another, a mechanism commonly used in redevelopment and slum rehabilitation projects across Mumbai. An email query has been sent to Lodha Developers Limited. If a response is received, the story will be updated. Arihant Construction Company could not be reached for comment. The company announced in a regulatory filing that it would rebrand from Macrotech Developers Limited to Lodha Developers Limited, effective June 16. Also Read: Macrotech Developers rebrands company's name to Lodha Developers Limited The company said that Abhishek Lodha-led firm Macrotech Developers Ltd received approval from the Registrar of Companies to change the name almost two months after settling the trademark dispute with the younger brother, who owns House of Abhinandan Lodha. They had settled the dispute on April 14. Also Read: Lodha Group eyes growth in Bengaluru with five new projects in FY2026 According to the agreement reached between the two brothers, listed entity Macrotech Developers Ltd is the owner of and has the exclusive right to use the brand names 'Lodha' and 'Lodha Group'. Abhinandan Lodha is the owner of and has the exclusive right to use the brand name 'House of Abhinandan Lodha'. Lodha Group and 'House of Abhinandan Lodha' have no connection with each other, and both entities decided to communicate this widely, they said in a statement.
