Jay Chhabria

30 Jan 2025

The Navi Mumbai International Airport (NMIA), a INR 16,700 crore project, is set to revolutionize air travel in the Mumbai Metropolitan Region. Spanning 1,160 hectares in Ulwe, NMIA will feature two parallel runways and four terminals, handling 90 million passengers annually upon full completion. Developed by Adani Airports and CIDCO, the first phase is expected to be operational by March 2025, accommodating 20 million passengers. Designed by Zaha Hadid Architects, the airport integrates seamlessly with key infrastructure projects like the Mumbai Trans Harbour Link and express metro, boosting regional connectivity, economic growth, and trade capabilities in Navi Mumbai and beyond.Read more

30 Jan 2025

The Brihanmumbai Municipal Corporation (BMC) has proposed an ambitious plan to revamp the 26-kilometre Western Express Highway (WEH) spanning from Bandra East to Dahisar. This initiative, revealed during a recent meeting, aims to address traffic bottlenecks, improve road quality, and standardise footpaths, signage, and medians. Civic chief Bhushan Gagrani emphasised collaboration among agencies, including the BMC, traffic police, and MSRDC, to ensure effective implementation. Immediate measures, such as improved drainage systems, robust streetlights, and removal of scrap vehicles, were also highlighted. If successful, this project could bring significant relief to over 2.2 million daily commuters.Read more

30 Jan 2025

Bollywood actor Akshay Kumar has sold his 1,073 sq. ft. apartment in Oberoi Realty's Sky City complex in Borivali East for INR 4.25 crore, marking a 78% appreciation from his 2017 purchase price of INR 2.38 crore. The transaction, registered in January 2025, incurred a stamp duty of INR 25.5 lakh and registration charges of INR 30,000. Sky City remains a sought-after development, recording 216 sale registrations in 2024, with an average resale price of INR 39,522 per sq. ft. Kumar's sale highlights Mumbai's robust luxury real estate market amid rising celebrity property transactions.Read more

Vidhi Sangoi

29 Jan 2025

The Noida International Airport, poised to become India's largest airport by area, is advancing rapidly towards completion, with Phase 1 expected to commence operations by April 2025. Spanning 5,000 acres in Gautam Buddh Nagar, Uttar Pradesh, the airport aims to ease congestion at Delhi's IGI Airport and enhance connectivity across the National Capital Region (NCR). Developed under a public-private partnership with Swiss firm Flughafen Zurich AG, the airport features world-class infrastructure, including seamless road and rail connectivity via expressways and a proposed high-speed rail link. Phase 1, with an investment of INR 10,056 crore, will accommodate 12 million passengers annually, with future phases expanding capacity to 70 million. The project, estimated to cost INR 15,000 to INR 20,000 crore, is expected to drive significant economic growth, create jobs, and boost real estate development in the surrounding areas.Read more

29 Jan 2025

Tata Investment Corporation, the non-banking financial arm of the Tata Group, has purchased office space spanning two floors in Mumbai's Wadala locality for approximately INR 150 crore. The acquisition, located in the VIOS project at New Cuffe Parade, includes a total area of 43,000 sq ft. The company's purchase comprises the entire 17th and 22nd floors, accompanied by exclusive rights to 63 parking slots. The transaction highlights a notable outright purchase trend in India's commercial real estate sector, contrasting with the market's leasing dominance.Read more

29 Jan 2025

Bangalore Metro Rail Corporation Limited (BMRCL) has initiated the land acquisition process for Namma Metro Phase 3, covering 38.65 km with an estimated cost of INR 15,611 crore. The project includes two corridors: JP Nagar Phase 4 to Kempapura (32.15 km) and Hosahalli to Kadabagere (12.5 km). Around 1,29,743 sq. meters of land will be acquired, impacting 777 private properties, with an allocation of INR 1,900 crore for compensation. The metro expansion aims to serve 7.28 lakh daily passengers by 2028, featuring double-decker viaducts and improved connectivity across key interchange stations such as Peenya, Hebbal, and Mysuru Road.Read more

Jay Chhabria

28 Jan 2025

The Chenab Bridge, part of the Udhampur-Srinagar-Baramulla Railway Link (USBRL) project, is set to become the world's highest railway bridge, standing 359 meters above the Chenab River-35 meters taller than the Eiffel Tower. Spanning 1,315 meters, the bridge connects Bakkal and Kauri villages in Jammu and Kashmir, drastically reducing travel time between Katra and Banihal to 20 minutes. Built to withstand extreme weather and seismic conditions, the INR 1,486 crore project utilizes blast-proof steel and advanced monitoring systems. Expected to last over 120 years, the bridge aims to boost connectivity and economic growth in the region.Read more

Jay Chhabria

28 Jan 2025

Launched in 2015, India's Smart Cities Mission has transformed urban infrastructure, with 90% of projects worth INR 1.45 lakh crore completed across 100 cities. Key initiatives include Integrated Command and Control Centres (ICCCs), 83,000 CCTV cameras, and 5.2 million LED streetlights, improving urban services and sustainability. Major successes include 4,700 km of smart roads, 7,654 smart classrooms, and advanced waste and water management systems. Challenges like land acquisition and bureaucratic delays persist, but global partnerships with Japan, the US, and France are driving further innovation. The mission is poised to shape India's sustainable urban future.Read more

28 Jan 2025

The Mumbai Metropolitan Region Development Authority (MMRDA) celebrated its 50th anniversary with a grand event at the Bandra Kurla Complex. Deputy Chief Minister Eknath Shinde praised the authority for spearheading development across Mumbai, Thane, Raigad, and Palghar, encompassing an area of 6,500 square kilometres and a population of 3.5 crore. With ongoing projects worth over INR 3 lakh crore, the MMRDA plays a pivotal role in Maharashtra's economic aspirations. The event also highlighted plans for slum rehabilitation and the authority's potential to make Mumbai a global financial hub.Read more

27 Jan 2025

Leading companies including Adani Ports, DP World, and Vedanta have expressed interest in the INR 7,056 crore Thoothukudi outer harbour project following revisions to the Viability Gap Funding (VGF) cap, now set at INR 1,950 crore. The project, re-tendered after initial low response, involves dredging, reclamation, and breakwater construction under a DBFOT model to develop two container terminals with a combined 4 million TEU capacity. Phase one, costing INR 4,494 crore, will develop berths I and II, followed by phase two at INR 2,561 crore for berths III and IV. Improved eligibility criteria and financial incentives aim to attract more bidders, with rail-road linkages planned to enhance connectivity.Read more