Historic Sion road over bridge to shut down for three-year reconstruction
Author : PNT Bureau
Mumbai's 112-year-old Sion Road Over Bridge (ROB) will shut down completely from midnight on July 31, 2024, for a major demolition and reconstruction project. The bridge, vital for connecting Sion East and West, will be rebuilt to enhance safety and traffic flow. The project, beginning August 1, 2024, and ending July 31, 2026, will significantly impact traffic. Diversion plans include rerouting through Sion Hospital Junction, K.K. Krishnan Menon Road, and St. Rohidas Marg. No-parking zones will be enforced to manage congestion. Despite short-term inconveniences, the new bridge promises improved commute efficiency....
Inauguration of Chennai Metro Phase 2 Tunnelling Work: A milestone in urban development
Author : PNT Bureau
Chennai is set for a public transport transformation with the expansion of its metro rail network. The recent start of tunnelling work for Chennai Metro Rail Phase 2 at Royapettah is a significant milestone. This project, costing INR 61,843 crore, will add 116.1 kilometres across three new corridors, linking key areas like Madhavaram, Siruseri SIPCOT, Lighthouse, Poonamallee Bypass, and Sholinganallur. Scheduled for phased completion by 2028, with the first phase operational by 2025, this expansion aims to reduce traffic, improve air quality, and enhance residents' quality of life, marking a substantial commitment to sustainable urban development....
Mumbai's Metro 3 project, set to open its first phase from Aarey Colony to Bandra Kurla Complex (BKC) by September 2024, faces delays due to a contractor falling behind schedule. The Mumbai Metro Rail Corporation (MMRC) identified a joint venture led by J Kumar Infra as responsible for the incomplete work at six stations. Despite progress in other areas, 5% of station work remains unfinished, leading to a penalty of INR 2 crore for negligence during the monsoon. The state government remains optimistic about meeting the revised deadline, with the project currently 98% complete....
Goa's urban bodies struggle with structural audits due to resource constraints
Author : PNT Bureau
Urban local bodies in Goa struggle to conduct structural audits of dilapidated buildings due to a lack of resources, technical expertise, and jurisdictional authority over private properties. Municipal councils identify unsafe buildings and issue notices for demolition or repair but rely on the Goa College of Engineering for government building audits. The Corporation of the City of Panaji has conducted five audits, while other councils face similar challenges. Addressing these issues requires increased funding, technical support, and collaboration among stakeholders to enhance building safety standards and ensure the integrity of structures across Goa....
Completion times for major construction projects improve across Indian cities: Anarock
Author : PNT Bureau
From 2014 to mid-2024, the average completion time for large under-construction projects in India's top seven cities dropped from 6.1 to 4.9 years, per Anarock data. In Chennai, small projects averaged 3 years and large ones 3.6 years. Hyderabad's small projects took 3.1 years and large ones 4.2 years. Bangalore's small projects averaged 3.5 years and large ones 4.8 years. Kolkata saw the longest time at 5.7 years for large projects. Developers in NCR and MMR faced delays due to outright land purchases and regulatory restrictions. Overall, stronger financial health has improved project execution...
JSCL launches green building project along Tawi riverfront for urban sustainability
Author : PNT Bureau
Jammu Smart City Ltd (JSCL) is set to enhance urban sustainability by developing green buildings along the Tawi riverfront. This initiative aims to incorporate energy-efficient designs, renewable energy sources, and sustainable materials, contributing to a lower carbon footprint and improved living conditions. The Tawi riverfront project, inspired by Gujarat's Sabarmati riverfront, seeks to beautify the river while enhancing its natural purification capabilities. It will create recreational, residential, commercial, and green spaces on reclaimed land. A recent meeting involving JSCL leadership and real estate consultants focused on strategic planning and land monetisation, emphasising the project's potential to boost tourism and revitalisation in Jammu....
NHAI plans to monetise 12 projects through InvIT in FY25
Author : PNT Bureau
The National Highways Authority of India (NHAI) plans to transfer 12 highway stretches, totalling 850 km, to the National Highways Infrastructure Trust (NHIT) in the current fiscal year, aiming to raise up to INR 20,000 crore. This is part of a broader asset monetisation strategy targeting INR 54,000 crore through various modes. Last year, NHAI raised INR 16,000 crore via NHIT for 889 km of highways. The funds, crucial for reducing borrowings and continuing highway construction, will be raised through a mix of debt and unit capital. NHIT plans to issue bonds, potentially raising INR 2,000-3,000 crore....
Karnataka's 'Beyond Bengaluru' initiative: Fostering sector-specific growth across the state
Author : PNT Bureau
Karnataka's "Beyond Bengaluru" initiative aims to decentralise industrial development by establishing sector-specific clusters in cities like Belagavi for aerospace and Mangaluru for fintech and animation. This strategy seeks to replicate Bengaluru's IT sector success across diverse industries, attracting over 300 companies and creating 3,000 jobs in smaller cities. With a focus on regulatory ease and incentives, Karnataka aims to balance economic development statewide, leveraging its robust educational infrastructure and expanding renewable energy capacity. Challenges include regional competition and airport logistics, with solutions like reopening HAL airport under consideration, underscoring the state's commitment to sustainable and inclusive growth....
MahaRERA to launch AI-powered grading system for real estate projects in Maharashtra
Author : PNT Bureau
Homebuyers in Maharashtra will soon have a valuable tool at their disposal with the Maharashtra Real Estate Regulatory Authority (MahaRERA) set to launch an AI-powered grading system for real estate projects. Announced in September 2023, this initiative aims to enhance market transparency by grading projects on construction quality, financial health, legal clearances, and overall project overview. Each parameter will weigh 25% in the final grade. With over 46,000 registered projects, this system will empower buyers to make informed decisions, reduce risks, and promote high standards among developers. The AI-powered grading function is expected to be operational within a month....
Coimbatore's new masterplan faces delay due to 3,000 public petitions
Author : PNT Bureau
Coimbatore's draft masterplan, a comprehensive 600-page document released in February 2024, faces delays due to overwhelming public participation. Authorities received over 3,000 petitions, surpassing expectations. The plan addresses population growth, infrastructure needs, and industrial development while identifying city challenges and proposing solutions. Many petitions, particularly from rural areas, request reclassification of agricultural land, raising concerns about real estate interests. Authorities are meticulously verifying each petition, causing an additional four to five-month delay. The finalised masterplan will guide Coimbatore's development, providing a clear framework for future growth and investment....
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