South India’s first double-deck flyover in Bengaluru
South India’s first double-decker flyover was inaugurated on July 17th in Bengaluru and is open for vehicular traffic. The 5.12 km signal-free flyover, built at a cost of Rs 449 crore, is located over the Central Silk Board junction that intersects the Outer Ring Road and Hosur Road, one of the busiest junctions battling traffic snarls. The double-deck consists of a Metro line on the upper deck while the lower deck is for vehicular traffic.
Deputy Chief Minister D K Shivakumar said it is a “historic” moment and the government might further build 150 kms of flyovers and signal-free corridors to decongest Bengaluru. It promises to reduce travel time by more than 30% for commuters headed towards K R Pura and Hosur Road.
Source: Indian Express, The Times of India
Read more: Chennai will reap the benefits of Smart City once Metro work concludes: J Radhakrishnan
AAP asks Centre for Rs 10,000-cr for Delhi infrastructure
Delhi Finance Minister Atishi demanded that the Centre should give Rs 10,000 crore for the capital city’s infrastructure development. She claimed that AAP government had got nothing even though Delhi contributed Rs 2 lakh crore as income tax and Rs 25,000 crore as central GST.
Delhi needed more funds for infrastructure development in road, transport and power as well as beautification, she said. Delhi was flooded due to the heaviest rainfall last month and had high power demand.
Since 2001, the Centre had been paying only Rs 325 crore to the Delhi government from the central pool, she said. However, even this was stopped last year and the city does not get a single rupee.
Source: Indian Express, The Telegraph
Tier-1 cities lead in blue-collar gig jobs
Even as the gig economy rises, tier-one cities seem to be leading in short-term blue-collar employment opportunities. These cities accounted for 67.1% openings from June 2023 to June 2024, said a report by tech-enabled blue-collar workforce recruitment platform, WorkIndia. As these cities have a number of gig working opportunities, there were 63.11% job applications from these hubs.
On the other hand, Tier-II cities saw 26% of such job openings and 25% of applications, which showed balanced growth potential. But Tier-III cities witnessed a much lower number of job openings at 6.7% compared to 11% applications. Hence, there seems to be a competition among the oversupply of gig workers in these.
The WorkIndia report, an annual index representing the state of blue-collar workers in the Indian job market and hiring activity, is based on job listings on its platform from June 2023 to June 2024.
Hence, Delhi was the prime hub for gig workers, with 17.7% of job openings and 22.9% of applications. Next Mumbai had 16.57% of job openings and 15.8% per cent of applications. Bengaluru and Pune seemed to be emerging gig economies. They showed focused efforts required to attract more employers and workers.
Back-office roles were most in demand, comprising 34.5% of jobs. They reflected a shift towards digital skills in roles such as online marketing. They marked a significant trend in workforce dynamics.
Source: Business Standard, Economic Times
Read More: Is ‘Digihenheimer’ an opportunity or vulnerability for gig workers in cities?
Over 65% Grade A offices in top cities green-certified
More than 65% of Grade A office space in India’s top seven cities is green-certified, according to the real estate consultancy Vestian Research. Of the 1,362 Grade A buildings across India’s top seven cities, 805 are green certified. The issue gains ground as environmental, social and governance (ESG) factors are catching the eye of developers and the government, which is seeking net-zero emissions by 2070.
By Q2 2024, the Leadership in Energy and Environmental Design (LEED) certification achieved a 74% market share. Vestian reports that Grade A office buildings with a built-up area of less than 500,000 square feet make up 47% of green-certified buildings. About 90% of projects in the larger category meet green building standards.
Green-certified buildings gain a 12 to 14% rental premium over non-green buildings. Bengaluru maintains a lead of significant premium of 23-25%, while Chennai and Hyderabad follow with premiums of 12-14% and 13-15% respectively. This shows a strong emphasis on sustainability in these tech hubs. Companies agree to pay more to support environmental responsibility and improve employees’ well-being. In Mumbai and Pune, green-certified buildings command an 8-12 per cent premium compared to non-certified counterparts.
Southern cities such as Bengaluru, Chennai and Hyderabad comprise 58% of the total green building stock. Among the top seven cities, Bengaluru leads with 172 million square feet of green-certified space. Chennai has the highest percentage, with 83% of its Grade A stock being green-certified. The lowest percentage of green-certified buildings are of Kolkata (62%) and Pune (56%).
The real estate sector is the 2nd largest employer, accounting for 39% of carbon emissions. The government’s constant push to achieve net zero emissions by 2070 might play an important role in shaping the real estate market.
Source: Business Standard, Economic Times
Compiled by Revathi Siva Kumar