NHAI launches new asset monetisation cell to boost revenue and infrastructure development
Author : PNT Bureau
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....
Mumbai's first dual-agency slum redevelopment project approved
Author : PNT Bureau
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....
India's data centre expansion soars in tier-2 and tier-3 cities, driven by major firms
Author : PNT Bureau
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....
Navi Mumbai Municipal Corporation intensifies crackdown on illegal constructions with INR 30,000 penalty
Author : PNT Bureau
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....
India's Real Estate Boom: Urbanisation drives record sales and new housing supply
Author : PNT Bureau
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....
Tembo Global Industries announces new divisions for infrastructure and defence sectors
Author : PNT Bureau
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....
Mumbai flyover crisis falling slab sparks urgent repair request as BMC seeks MMRDA help
Author : PNT Bureau
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....
Maharashtra government allocates INR 15,940 crores for 41 railway projects
Author : PNT Bureau
Railway Minister Ashwini Vaishnaw announced a budget of INR 15,940 crore for Maharashtra's railway projects, part of an ongoing investment totaling INR 1.3 lakh crore. Key initiatives include redeveloping 128 stations under the Amrit Bharat Station scheme and adding 250 new local trains over the next five years. Maharashtra has achieved full railway electrification and lays 180 km of new tracks annually. Significant upgrades to Mumbai's suburban network, serving millions daily, are planned under the Mumbai Urban Transport Project. Experts highlight urgent needs to tackle congestion and improve connectivity for the growing population. The Railway Ministry aims to boost service frequency and safety with advanced systems like Kavach 4.0....
Mumbai's Green Future: BMC to construct INR 116-crore eco-friendly office
Author : PNT Bureau
The BMC is launching a INR 116-crore net-zero building in Santacruz to meet the Centre's 2070 net-zero emissions target. This eco-friendly project will replace the H/East ward office, utilising energy-efficient systems, rainwater harvesting, and sewage treatment to convert waste into reusable resources. The building aims to achieve net-zero certification under LEED and IGBC standards, with a completion timeline of ten years. This initiative aligns with upcoming elections, emphasising environmental compliance and sustainability....
Dharavi redevelopment faces major hurdle in relocating 1 lakh households
Author : PNT Bureau
The Dharavi redevelopment project, a joint venture between the Adani Group and the Maharashtra government, has reached a critical juncture. The blueprint is ready, but relocating an estimated one lakh households is a major hurdle. Dharavi Redevelopment Project Limited (DRPPL) will build nearly 1.5 lakh homes for these residents on around 1,000 acres across Mumbai, dubbed 'Nav Dharavis'. Finding suitable land is challenging due to Mumbai's space constraints, with 540 acres identified but facing environmental and regulatory issues. The project's ambitious seven-year timeline for relocation and rehabilitation, and a total 17-year completion goal, hinges on overcoming land acquisition, relocation, and community acceptance challenges....
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