Infrastructure

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BMC approves reconstruction of Curry Road, Matunga, and Mahalaxmi bridges

In a joint meeting with MRIDCL officials, the BMC approved the reconstruction of Curry Road, Matunga, and Mahalaxmi bridges. The preliminary phase is underway, aiming to alleviate traffic congestion and save time and fuel. The BMC will fund the project, with MRIDCL handling construction. Additionally, progress on Ray Road, Byculla, Tilak, and Ghatkopar bridges was reviewed. The Ray Road Bridge is 77% complete, targeting a November 2024 opening. Meanwhile, Olivant, Arthur, and S bridges were deemed in good condition and will not undergo immediate reconstruction....
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MoRTH keen on awarding over 3000 km of new projects and constructing 1700 km of highways

The Ministry of Road Transport and Highways has outlined an ambitious 100-day action plan which would be following the recent elections. Key priorities in the plan include awarding over 3,000 km of new highway projects, constructing 1,700 km of roads, and implementing initiatives to enhance safety. The ministry is awaiting Cabinet approval for its proposed INR 20 trillion funding proposal to allow projects to progress. Other goals are operationalizing roadside amenities, launching alternative fuel vehicles, rectifying 'blackspots' and providing cashless treatment for accident victims. This comes as road accidents continue rising in India, with over 460,000 reported in 2022 alone. The ministry hopes its 100-day agenda, if implemented successfully, can boost highway development and improve safety....
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Flexible workspace providers expand footprint across India, projected 12% growth by 2028

Major flexible workspace and managed office space providers are planning aggressive expansion across India in 2024-25 to capitalize on rising demand. WeWork India, IndiQube, 315Work Avenue and IWG will add over 4 million square feet of new capacity primarily in tier 1 cities but also expand to tier 2/3 locations. They will enter newer cities like Guwahati, Kolkata, Bhubaneshwar, Delhi NCR and Hyderabad. The market share of flexi spaces is projected to grow from 7% to 12% by 2028, indicating strong potential for scale up....
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Rajasthan rethinks land allotment policy to boost MSMEs

As the Rajasthan government seeks to revive the industry, it is re-evaluating the state's land allotment policy for manufacturing MSMEs. While land auctions introduced transparency, they have driven up land costs, diminishing MSME competitiveness compared to preferential allotments based on circle rates with discounts. However, the previous preferential system also faced issues as land allotment decisions depended on RIICO officials' discretion. By benchmarking best practices from other states and incorporating technological solutions, Rajasthan hopes to develop a balanced land allotment approach that supports its large MSME sector through affordable land without compromising on transparency. Getting this policy right will be instrumental in realizing the state's industrial growth ambitions as envisioned in its upcoming investors' summit....
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MMRDA secures large loans to fund Mumbai's infrastructure growth

The Mumbai Metropolitan Region Development Authority (MMRDA) has received significant funding to support infrastructure development projects across Mumbai over the next decade. In March, the Maharashtra government approved loans of up to INR 60,000 crore for MMRDA from public institutions. An additional INR 30,000 crore in funding was proposed. This financing will enable expansion of Mumbai's metro rail network through six new lines totalling 337 km, as well as road tunnel, coastal road, and solid waste management initiatives. The objective is to increase Mumbai's GDP to USD 300 billion by 2030 through improved connectivity and development of new economic centres....
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BDA plans to redevelop housing complexes into commercial spaces in Bengaluru

The Bangalore Development Authority (BDA) plans to redevelop seven of its housing complexes across Bengaluru into shopping malls and commercial spaces to generate more revenue from rental income. However, local residents have strongly opposed the move, arguing it is unnecessary given the existing commercial development in the area. Of the seven sites, the proposal to redevelop the Indiranagar complex into a mixed-use development has faced particularly vocal opposition from Resident Welfare Associations (RWAs). The private developers will have rights over the redeveloped land for 60 years as part of the agreement with BDA. While officials claim annual revenue of INR 40 crore once complete, RWAs have urged them to reconsider the plan due to concerns over traffic, pollution and lack of public consultation....
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National Highways Authority of India scales up highway monetization efforts

The National Highways Authority of India (NHAI) plans to significantly increase its monetization of highways through the Toll-Operate-Transfer (ToT) model this financial year. It intends to offer around 12 bundles of highway stretches for bidding by private companies, up from just four bundles offered last year. The next round of bidding for three new bundles will begin in June. This year, the bundles will comprise highways of different sizes - large, medium and small, unlike the big and small categories previously. NHAI has identified 33 highway stretches spanning 2,741 km that will be offered for monetization this year. NHAI expects to raise INR 54,000 crore in 2024-25 from monetization through the ToT and InvIT models....
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The evolution of luxury living: How spirituality is enriching Mumbai's real estate landscape

Mumbai is witnessing a shift as its luxury real estate developments increasingly incorporate spaces dedicated to spirituality. Developers are adding amenities like meditation areas, yoga studios and gardens to offer respite from the fast pace of life in high-rises. This reflects a growing recognition that true luxury means nurturing both the body and soul. One project, Omkar Alta Monte, is even planning to include a Hindu and Jain temple on site. As individuals and societies evolve to seek greater work-life balance and well-being, the integration of spirituality into Mumbai's luxury living spaces will likely continue expanding in innovative ways. In doing so, they reflect how Mumbai remains on the cutting edge of trends that can enhance urban living for more residents....
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MCD launches comprehensive survey to identify dangerous buildings ahead of monsoon

The Municipal Corporation of Delhi (MCD) has initiated a survey of buildings to identify and address potential dangers ahead of the monsoon season. With 35 lakh buildings under its purview across 12 zones, the MCD aims to complete the survey by June 2024. Last year, over 30 lakh structures were inspected, resulting in 292 notices for repairs and eight buildings declared dangerous, primarily in the Rohini zone. The survey covers various localities, including approved and unauthorized colonies. MCD officials stress prompt action on any dilapidated structures to prevent accidents during the impending monsoon, prioritizing government facilities and schools....
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Haryana government's Global City project gets environmental clearance

The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) has received environmental clearance for its ambitious Global City project coming up near Gurugram. Spread over 1,000 acres, the project will develop residential, industrial and commercial areas in sectors 36B, 37A and 37B. Costing INR 940 crore, phase 1 covering 587 acres will be completed by 2026 and include roads, drainage, utilities and landscaping. The unique feature is a 10km underground utility tunnel to avoid future road digging. Global City is planned as a self-sufficient township with a focus on modern technology and future-oriented industries, low carbon green infrastructure, ease of living, skilling of people, and employment generation....
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High-speed coastal road corridor: A sea-change in the way Mumbai drives

The Brihanmumbai Municipal Corporation (BMC) has achieved a significant milestone with the successful deployment of a massive 25,000-ton girder to connect the south-bound corridor of the coastal road to the Bandra Worli Sea Link. This engineering feat, involving the launch of a bow-string-arch-type girder spanning 136 meters, represents a pioneering endeavor in India and signals the BMC's commitment to innovative infrastructure development. The integration of this innovative girder marks a crucial advancement in the Coastal Road Project, enhancing connectivity and underscoring the BMC's dedication to transforming Mumbai's transportation landscape....
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BMC orders evacuation of 188 dilapidated buildings in Mumbai

The Brihanmumbai Municipal Corporation (BMC) has declared 188 buildings in Mumbai as extremely hazardous and at high risk of collapse. Classified as C1 structures, these buildings were found to be in severe disrepair posing serious safety issues. While the BMC has managed to evacuate 84 buildings so far, residents of 63 buildings have challenged the orders in court. Over the past two years, 493 additional buildings were classified as C1, of which 289 have been demolished. The BMC has ordered the immediate evacuation of all 188 buildings and published the list on their website. BMC is urging residents to evacuate these buildings before the monsoon season arrives....
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IRB Infrastructure bets big on BOT model for highway development

IRB Infrastructure Developers has committed most of its planned investments for 2024-25 towards expanding road capacity through the Build-Operate-Transfer (BOT) model of public-private partnership. The company plans to invest INR 10,000-12,000 crore, with around INR 8,000 crore expected from BOT projects. It is also targeting INR 4,000 crore from acquiring highway assets through Toll-Operate-Transfer deals. This focus on BOT comes as the government pushes greater private participation in developing highways. IRB currently owns and operates 15,000 lane km of roads across 12 states through various PPP models including BOT, HAM and TOT....
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Loaded integrated trials set to begin on Mumbai's Metro 3 Aqua Line

The Aqua line, Metro 3, in Mumbai, is reaching a crucial phase with loaded integrated trials set to begin on the Aarey-Bandra Kurla Complex route. These trials, involving filled coaches, ensure operational safety and functionality before passenger operations commence. With 96% of the project already completed, now the focus is on station beautification and multimodal integration to enhance the commuter experience. Metro 3's advanced features, including unmanned operation, signify a step towards delivering a world-class metro system for Mumbai residents....
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Royal India Corporation launches Kalyan Marina project worth INR 450 crore

Royal India Corporation Limited (RICL) is investing INR 450 crore into Kalyan Marina, a transformative project in Kalyan, Maharashtra. Spanning 2.2 acres, the development aims to create 5 lakh square feet of modern living, office, and retail spaces. Sunder Iyer and Mangal Keshav's family offices are backing the project with a preferential issue of INR 100 crore, showcasing confidence in Kalyan's growth. Kalyan Marina's strategic location near Kalyan Station aligns with the ongoing INR 900 crore modernization project, promising enhanced connectivity and convenience. This significant investment signals Kalyan's emergence as an attractive destination for residential and commercial ventures, bolstering its future prospects....
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From Farmland to Airport City: Jewar's real estate boom ahead of airport launch

The Noida International Airport in Jewar is nearing completion, with trial operations expected to begin by the end of June. Recognized as the "Jewar airport," this project has transformed the region into an airport town, attracting real estate investments and economic opportunities. Local residents are capitalizing on this growth through land investment and property rentals. Land prices are expected to rise significantly post-operationalization, prompting investors to buy plots nearby. Additionally, the surge in housing demand has led residents to rent out rooms and buildings, fetching monthly rents ranging from INR 5,000 to INR 8,000. The state government is developing a metro connection to enhance connectivity. However, long-term prosperity depends on human capital development, prompting calls for improved educational facilities and vocational training institutes....
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Crawford market redevelopment strikes a balance between heritage preservation and modern necessities

Mahatma Jyotiba Phule Mandai, commonly known as Crawford Market, is undertaking a phased redevelopment. After undergoing Phase 1 renovations from 2015-2018, the heritage market is set to open this summer. The redevelopment includes the iconic fountain as well as an open space in its center, and the new market building will cater to fish and meat sellers. The project aims to enhance the market's appeal and functionality to visitors while preserving its historical significance. Once complete, the revitalized market will honor its past while gaining amenities to better serve customers for years to come....
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Bombay HC upholds approval for Vadhavan greenfield port project

The Bombay High Court upheld the Dahanu Taluka Environment Protection Authority's (DTEPA) order allowing the Jawaharlal Nehru Port Authority (JNPA) to develop a greenfield port at Vadhavan, Palghar district. It rejected petitions by Conservation Action Trust and National Fish-worker's Forum challenging the order. The court observed that DTEPA considered all relevant aspects and proposed mitigation measures. However, JNPA still needs clearances from various authorities. The court acknowledged DTEPA's earlier stance against a port in the 'ecologically fragile' Dahanu, but noted changes allowing ports in such areas. The INR 76,220 crore project, a JNPA-Maharashtra Maritime Board joint venture, spans 17,471 hectares....
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Rise in Indian road sector M&A, NHAI to raise INR 54,000 in FY25

The National Highways Authority of India (NHAI) aims to raise INR 54,000 crores through project-based funding and asset monetization in the upcoming financial year. In the 2024 fiscal year, NHAI accrued INR 38,334 crores from project-based financing and its monetization program, including Toll Operate Transfer (ToT) and Infrastructure Investment Trust (InVIT). ToT allows private companies to operate select highways, while InVIT pools investments for infrastructure projects, generating returns for investors. NHAI plans to monetize 33 highways across India, totaling 2471 kms, generating INR 49,314 crores in the previous fiscal year. With asset monetization remaining a key financial strategy, NHAI has raised INR 1.08 trillion out of its INR 1.60 trillion target. The road sector, aided by initiatives like InVIT, has witnessed significant growth, attracting global investors and driving econom...
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BMC focuses on identifying Mumbai's vulnerable landslide zones

The Brihanmumbai Municipal Corporation (BMC) has identified 74 vulnerable landslide-prone areas in Mumbai, out of a total of 160. These areas, mostly natural hillocks and elevated lands, pose significant risks, with 15 in Ghatkopar, 9 in Kurla, and 5 in various other locations. The eastern suburbs have the highest number of vulnerable sections. Following a tragic landslide in Pune in 2017, the Geological Survey of India provided recommendations, prompting BMC to take action. Landslide-prone areas are categorized into high, medium, and low-risk zones, with population estimates for each. BMC's disaster management cell is training locals on landslide warnings and evacuation procedures. Recent incidents have led to temporary resettlement efforts....
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Reliance MET City records 60% growth in 2023-24, attracting over 540 companies

Reliance MET City in Haryana's Jhajjar district exemplifies India's prowess in creating futuristic urban centers. Led by Reliance Industries Limited (RIL), the project boasts over 540 companies across diverse sectors, with a surge in plot bookings to INR 1913 crore in the past financial year. Featuring essential amenities like hospitals and schools, MET City aims to accommodate a diverse workforce while promoting a vibrant social environment and work-life balance. With a focus on sustainability, community development, and collaboration with Reliance Foundation, MET City emerges as a model for integrated, eco-friendly urban development, poised to drive economic growth and innovation in North India....
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BMC begins work on connecting Gokhale and Barfiwala bridges

The BMC has initiated the alignment of Gokhale and Barfiwala bridges in Mumbai, addressing a six-foot gap between them. Supervised by IIT-B and VJTI experts, the process began with removing the top layer of Barfiwala flyover. Due to election regulations, the existing contractor for Gokhale bridge reconstruction will be responsible for merging the structures. The deadline for completion is set for June 30, with an allocated budget of INR 3 crore. VJTI confirmed the feasibility of merging without demolishing Barfiwala flyover, prioritizing structural integrity and public safety....
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Government plans to reduce NHAI's INR 3.4 trillion debt burden over next five years

The government has announced an ambitious plan to significantly reduce the debt of the National Highways Authority of India (NHAI) from the current level of INR 3.4 trillion over the next five years. This is aimed at allowing NHAI to focus more on expanding India's national highway network by freeing it from huge debt servicing obligations. Key elements of the plan include prepaying old high-interest debt, swapping it with cheaper loans, utilizing funds raised through InVITs, and retiring bonds maturing between 2025-2030 followed by those extending up to 2040. The move comes as NHAI's debt has increased 14-fold since 2015 and a major portion of its budget now goes towards debt repayment instead of new construction....
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NaMo Grand Central Park in Thane brings nature to the city

The newly opened NaMo Grand Central Park in Thane is one of India's largest urban parks, spread over 25 acres. Inspired by the iconic Central Park in New York and Hyde Park in London, it features four themed gardens, a lake, amphitheater, children's play areas, and walking/jogging trails. The park aims to provide city residents access to nature and green space while also hosting cultural events. In its first two months it has attracted large crowds despite some challenges in transportation access and addressing specific needs across all ages....
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Coastal Road has witnessed 4.5 lakh vehicles since opening, around 19,500 per day

The Coastal Road, inaugurated partially on March 12, has witnessed heavy traffic, with almost 4.5 lakh vehicles taking the route, averaging 19,500 vehicles per day. Efforts are underway to bridge the gap between the southbound arm's Worli end and the Bandra-Worli Sea Link. It is currently operating from Monday to Friday, 8 a.m.- 8 p.m., with restricted entry from Worli after 5 p.m. Residents note its impact on traffic flow, with ongoing efforts to address bottlenecks. The road promises to enhance connectivity and alleviate congestion, representing a significant advancement in Mumbai's transportation infrastructure....
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Industrial & Logistics sector sees 22.7 percent YOY demand surge

The industrial and logistics sector in India has shown significant momentum in Q1 2024, according to a report by Savills India. Absorption rates soared to 13.5 million sq. ft., marking a 22.7% year-on-year increase from Q1 2023. Tier I cities dominated with 78% of the absorption, while tier II and III cities contributed 22%. Notably, 3PL and manufacturing sectors sustained demand, with FMCG also witnessing a surge. The report indicates a 4% rise in supply compared to Q1 2023, primarily driven by tier I cities. Grade A spaces, meeting ESG standards, attracted significant demand....
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Highway construction hits 12,349 km in FY 2023-24, falls short of 13,814 km target

In the fiscal year 2023-24, India made considerable progress in highway construction, with 12,349 kilometres completed, the second-highest achievement in history. A deliberate focus on lane augmentation projects drove the construction pace, which increased by 20% from the previous fiscal year. The National Highways Authority of India (NHAI) played an important part, contributing 6,644 kilometres to the whole effort. Despite narrowly missing the target 13,814 kilometres, the achievement highlights India's dedication to improving its infrastructure and transportation network, with a heavy emphasis on expressway expansion....
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Completion of Coastal Road-BWSL linkage expected by April 16th

The Brihanmumbai Municipal Corporation (BMC) gears up to launch a crucial 120-metre girder with a bowstring arch, connecting the southbound coastal road to the Bandra-Worli sea link on April 16-17. Overcoming challenges of the rocky seabed, the BMC devised a meticulous plan, assembling the bridge at Nhava village jetty before transporting it to Worli. Spanning 850 metres with 270 metres of steel, the project showcases engineering prowess, managed by AECOM, coordinating stakeholders and addressing design complexities. As the BMC works on the northbound arm, the launch signifies Mumbai's infrastructure progress, promising improved transportation and urban development....
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Varanasi's low-flying aircraft creates digital twin map for Varanasi Smart City

Varanasi Smart City is conducting a 3D survey using low-flying aircraft and ground vehicles equipped with LiDAR technology to create a digital twin map covering 160 square kilometres. Led by Genesis International Corporation, this initiative integrates more than 50 thematic layers detailing infrastructure elements like drains, water pipelines, and ward boundaries. The twin map will enhance the operational efficiency of various institutions through the Kashi Integrated Command and Control Centre, facilitating coordinated management of solid waste, fire, traffic, water distribution, and sewerage systems. Varanasi aims to become the first Indian city with a comprehensive digital twin, fostering harmonised civic agency collaboration....
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Ben Simmons auctions luxurious LA mansion dropping the price by USD 10 million

Australian NBA star Ben Simmons, known for his time with the Brooklyn Nets and his relationship with Kendall Jenner, is auctioning his Los Angeles mansion with a USD 10 million price reduction. Initially listed for USD 22,999,000 in 2022, the seven-bedroom Hidden Hills property is now priced at USD 17,495,000. Bidding starts on April 18 through Concierge Auctions, with a range of USD 7 million to USD 12 million expected. Simmons cited his East Coast commitments for selling the home, stating it's underused. The Beverly Hills Estates agents are handling the sale....
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Dharavi Redevelopment Project gets possession of 27 acres of railway land

The Dharavi Redevelopment Project (DRP) in Mumbai, tasked with rehabilitating over 1.2 million residents of Asia's largest slum, has acquired 27.6 acres of the required 45 acres of land from the Railway Land Development Authority. This will enable the construction of modern housing and recreational facilities for railway employees as well as rehabilitation apartments for Dharavi tenants. The complex will include over 820 apartments across four blocks designed by Hafeez Contractor and is expected to be completed within three years. The DRP paid INR 1000 crore for the land and will pay an additional INR 2800 crore over 17 years through revenue sharing....
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Pune Municipal Corporation to destroy 46 dilapidated wadas prior to monsoon

The Pune Municipal Corporation (PMC) has announced plans to demolish 46 dilapidated wadas due to safety concerns ahead of the rainy season. Despite efforts to categorise the structures and encourage tenants to vacate through tenancy certificates, obstacles such as financial constraints and legal complexities have hindered progress, highlighting the challenges in ensuring public safety while addressing residents' housing security concerns. The initiative underscores the need for a comprehensive approach balancing safety measures, legal compliance, and residents' welfare in addressing hazardous structures within PMC's jurisdiction....
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