Stamp Duty revenues of INR 2,045 crore drive Mumbai metro network and infrastructure growth
Author : PNT Bureau
The Mumbai Metropolitan Region Development Authority (MMRDA) has collected over INR 2,045 crore from stamp duty on home registrations between 2022 to 2024. This funding, along with support from the state government, global financial institutions, and other sources, will be used to finance major infrastructure projects, including Mumbai's metro rail network. MMRDA has now secured approximately INR 1,16,611 crore in debt financing for these projects. Additional funds are expected from urban local bodies, and MMRDA plans to issue bonds worth INR 14,000 crore, with the first tranche of INR 1,400 crore to be released soon....
MMRDA seeks INR 14,000 crore state-guaranteed bond issuance to boost Mumbai infrastructure
Author : PNT Bureau
The Mumbai Metropolitan Region Development Authority (MMRDA) is set to issue bonds worth INR 14,000 crore, with an initial phase of INR 1,400 crore, to fund infrastructure projects in Mumbai. The bonds, approved for up to INR 50,000 crore, will be secured by land parcels and guaranteed by the state government. This strategy shifts from auctioning plots in the Bandra-Kurla Complex to leveraging capital markets for funding. The bonds, with a 50-year tenure and an option to redeem after 15 years, aim to enhance mobility, housing, and services in the densely populated region, setting a precedent for future infrastructure financing....
Vilas in Chitrapuri colony faces scrutiny for violating building regulations
Author : PNT Bureau
Chitrapuri Colony, home to the Telugu Cine Workers' Co-operative Housing Society in West Hyderabad, faces scrutiny for violating building regulations. Civic authorities recently demolished six villas, which exceeded the 225 units permitted. Despite warnings from Manikonda Municipality, unauthorised construction continued, leading to potential legal actions. The society violated a 2009 government order by constructing additional floors beyond the approved G+1 structure. Manikonda officials, supported by Hyderabad Disaster Response (HYDRAA), threaten to carry out further demolitions if the society does not comply. The society's president offered to pay penalties, but enforcement remains stringent as public support for HYDRA's actions grows....
Delays in Jog Flyover repairs put Mumbai at risk of potential disasters
Author : PNT Bureau
Mumbai's deteriorating infrastructure, particularly the condition of key flyovers, is raising serious concerns. The Jog flyover in Andheri East has become a focal point of a dispute between the MMRDA and BMC over responsibility for repairs, causing delays that have rendered the structure unsafe. An April 2024 audit by VJTI deemed the flyover dangerous, urging repairs within a month. However, the BMC is still undecided on how to proceed, despite a recent incident where a large slab fell from the flyover. The situation is part of a broader infrastructure challenge in Mumbai, with several other bridges also in urgent need of repairs, underscoring the need for immediate action to prevent potential disasters....
The Cabinet approves 12 industrial cities with an INR 28,602 crore investment
Author : PNT Bureau
The Union Cabinet approved the development of 12 new industrial cities across 10 states with an investment of INR 28,602 crore to enhance India's manufacturing capabilities. Strategically located along six major industrial corridors, developers will build these cities as greenfield smart cities, adhering to global standards. The initiative, part of the National Industrial Corridor Development Programme, aims to create 1 million direct and 3 million indirect jobs by 2027. Having secured environmental clearances and completed land acquisitions, this initiative will transform India's industrial landscape and significantly boost economic growth and global competitiveness....
Andhra Pradesh's smart cities achieve 85% project completion under mission
Author : PNT Bureau
Under India's Smart Cities Mission, Andhra Pradesh's four cities - Kakinada, Visakhapatnam, Tirupati, and Amaravati - have completed over 85% of their urban development projects, totaling INR 5,657 crore out of the planned INR 6,620 crore. Kakinada and Tirupati led with INR 2,000 crore in completed projects each, while Visakhapatnam achieved INR 1,575 crore. Amaravati lags, with INR 746 crore completed out of INR 930 crore planned. Despite challenges, the progress underscores a strong commitment to enhancing urban infrastructure and living standards across these cities, setting a benchmark for others in India....
Raipur Municipal Corporation (RMC) to launch co-working and incubation centre for startups
Author : PNT Bureau
The Raipur Municipal Corporation (RMC) is set to open a co-working and incubation centre at the Inter-State Bus Terminal (ISBT) in Bhatagaon, initially offering 150 seats with plans to expand to 500. Managed by the Raipur District Urban Public Service Society (RDUPSS), the centre aims to support local entrepreneurs with modern amenities like conference rooms and recreational areas. Commissioner Abinash Mishra emphasised the project's timely completion. This initiative aligns with national trends, promoting innovation and entrepreneurship, and is expected to boost Raipur's startup ecosystem, driving economic growth and job creation in the region....
LDA progresses with Edium City Project, acquiring 12 hectares of land in Lucknow
Author : PNT Bureau
The Lucknow Development Authority (LDA) has recently acquired over 12 hectares of land in Piyarepur village for the Edium City project, also known as the Mohan Road scheme. This process began 15 days ago and involved signing agreements with local farmers. This is part of a bigger plan to turn the area into a modern urban center with roads, sewers, and green spaces. To address concerns, the LDA has increased compensation rates for farmers in Piyarepur. A budget of INR 225 crore has been set for the first phase of the development. This project will focus on roads, sewers, and other infrastructure....
State authorities additional property registration offices in urban and rural Maharashtra
Author : PNT Bureau
The Maharashtra state government is planning to establish additional property registration offices in both urban and rural areas, especially in regions with high transaction volumes, ahead of the upcoming assembly elections. This initiative responds to widespread complaints about the inadequate conditions of current registration offices, which are often cramped and poorly maintained. The proposal for new offices, submitted last week, aims to ease the burden on existing facilities, particularly in urban areas with over 8,000 monthly transactions and rural areas with 5,000 to 6,000 transactions. These new offices are expected to improve service quality by alleviating overcrowding and enhancing infrastructure, addressing issues such as inadequate seating and drinking water facilities. This move is seen as a crucial step in managing the growing demand for property registration services....
RLDA invites bids for land near Shri Mata Vaishno Devi Katra Railway Station in J&K
Author : PNT Bureau
The Rail Land Development Authority (RLDA) is inviting bids for the commercial development of two land parcels near Shri Mata Vaishno Devi Katra Railway Station in Jammu & Kashmir. These strategically located parcels, bordered by Station Road, railway buildings, and vacant land, offer prime opportunities for building hotels, shopping complexes, and marriage halls. With a combined area of over 15,000 square meters and a 60-year lease, the developments are expected to boost the local economy, create jobs, and accommodate the growing number of tourists visiting the shrine, which saw over 9.5 million pilgrims in 2023....
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