12 Aug 2024

Dharavi, Asia's largest slum, is set to undergo a transformative redevelopment project worth USD 3 billion, led by the Adani Group. The newly formed association of Dharavi residents, the Citizen and Society Development Welfare body, has lent its support to the ongoing state government-led survey of informal tenements, a crucial step for the project. The survey aims to map the densely populated 600-acre area and determine the eligibility criteria for rehabilitation under the proposed redevelopment plan. The Dharavi Redevelopment Project (DRP), in collaboration with Dharavi Redevelopment Project Private Ltd (DRPPL), a joint venture between the Government of Maharashtra and the Adani Group, is spearheading the transformation. The plan ensures that all qualifying tenement holders are offered homes of up to 350 square feet, addressing the complex land ownership and tenure patterns that have hindered previous redevelopment efforts.Read more

09 Aug 2024

YEIDA is launching a project with 19 housing plots near Noida Airport, in Sectors 17, 18, and 22D. The project aims to meet housing demand driven by Noida International Airport and regional industrial development, creating at least 25,000 flats across affordable to luxury units. Plot prices range from INR 32,375 to INR 35,612 per square metre. CEO Arun Vir Singh expects increased housing demand from new industrial projects, with plans for 30 more group housing plots. CREDAI NCR leaders highlight the project's potential to balance supply-demand disparities and attract diverse buyers due to the new industrial corridor.Read more

08 Aug 2024

Prime Minister Narendra Modi recently inaugurated the third phase of the Goregaon Mulund Link Road (GMLR) in Mumbai, a key project aimed at connecting the Western Express Highway (WEH) and Eastern Express Highway (EEH). Spanning 12.20 kilometres, this phase will reduce travel time from 90 minutes to 25 minutes and is set to be completed by November 2028 at an estimated cost of INR 14,000 crore. The project includes major tunnels under Sanjay Gandhi National Park, designed to cut carbon emissions by 22,400 tons annually. The GMLR will alleviate traffic congestion and boost Mumbai's infrastructure.Read more

08 Aug 2024

The National Highways Authority of India (NHAI) has launched a new asset monetisation cell to optimise the management and monetisation of its operational highway assets. Led by a finance department member, the cell will include experts in finance, technical operations, and transport economics. Its main tasks include market analysis and identifying high-revenue potential assets, focusing on 33 projects expected to generate over INR 850,000 crore in FY 2024-25. This initiative follows NHAI's successful monetisation of INR 40,314 crore in 2023-24 and aims to ensure effective reinvestment in infrastructure development while attracting investor confidence.Read more

08 Aug 2024

The Maharashtra government has approved a joint venture between the Slum Rehabilitation Authority (SRA) and the Mumbai Metropolitan Region Development Authority (MMRDA) to redevelop Ramabai Ambedkar Nagar slum in Ghatkopar. This 33.15 hectare project will be the first of its kind, combining efforts of two government agencies. SRA will handle biometric surveys, land acquisition, and permissions, while MMRDA will manage architects, contractors, and construction. The INR 4,000 crore project aims to rehabilitate 17,500 slum dwellers within three years. The initiative marks a strategic move to expedite slum redevelopment in Mumbai, addressing long standing delays by private developers.Read more

07 Aug 2024

India's data centre industry is rapidly growing, especially in Tier-2 and Tier-3 cities like Kochi, Jaipur, and Ahmedabad. Major players such as Reliance Jio, Bharti Airtel, and Adani Enterprises are leading this expansion, capitalising on strategic benefits such as improved infrastructure, lower costs, and enhanced network resilience. Data centre capacity surged from 350 MW in 2019 to 864 MW in 2023, reflecting a 25% CAGR. The government's Digital India initiative further drives this trend by boosting digital infrastructure and connectivity, contributing to local economic growth and decongesting metropolitan areas while supporting the rise in digital service demands.Read more

06 Aug 2024

The Navi Mumbai Municipal Corporation (NMMC), led by Commissioner Dr. Kailas Shinde, has ramped up its demolition efforts against unauthorised constructions. Recent actions targeted several illegal buildings across sectors, including Sector-04 Airoli, Vashi village, and Karave Gaon, resulting in the demolition of structures and fines totaling INR 30,000. Despite previous notices, the construction continued, prompting NMMC to employ heavy machinery for effective enforcement. Key officials, including Assistant Commissioners and Junior Engineers, were actively involved. The NMMC plans to maintain these rigorous measures to enforce compliance and uphold urban planning standards.Read more

05 Aug 2024

India's real estate market is booming, with a 33% year-on-year growth in sales of 4.1 lakh units across the top eight cities in 2023. However, the sector faces challenges with 4.1 lakh stalled dwelling units valued at INR 4.1 lakh crore. Government initiatives like PMAY-U and policy reforms have boosted demand, with new housing supply hitting a record 5.2 lakh units in 2023. Despite this, stalled projects remain a significant issue, prompting calls for solutions like mandatory RERA registration and exploring financing options to revive these projects and sustain the market's momentum.Read more

02 Aug 2024

Following a serious incident where a slab fell from the Jog Flyover on Mumbai's Western Express Highway, injuring a driver, the Brihanmumbai Municipal Corporation (BMC) has asked the Mumbai Metropolitan Regional Development Authority (MMRDA) to address the urgent repairs. A recent Veermata Jijabai Technological Institute (VJTI) audit found the flyover's superstructure in poor condition. However, BMC hesitates to act due to ongoing legal disputes involving Hiranandani Constructions Pvt Ltd (HCPL), responsible for maintenance since 2005. HCPL, citing INR 64 crore in expenditures and legal issues, has not addressed the repairs. MMRDA, previously overseeing the flyover, is now expected to intervene.Read more

02 Aug 2024

Tembo Global Industries Ltd. has launched two new divisions, Tembo Global Infra Ltd. and Tembo Defense Products Ltd., marking a strategic expansion. Tembo Global Infra Ltd. focuses on enhancing project execution efficiency, while Tembo Defense Products Ltd. aligns with the "Make in India" initiative to boost self-reliance in defence manufacturing. "The introduction of these divisions marks a new era of innovation and excellence," said Sanjay Patel, MD of Tembo Global Industries. These divisions reinforce the company's commitment to growth, innovation, and maintaining high-quality standards, ensuring unparalleled value for stakeholders.Read more