MMRDA to secure INR 850 crore from KfW for urban infrastructure development
Author : PNT Bureau
The Mumbai Metropolitan Region Development Authority (MMRDA) has secured over INR 850 crore from the German development bank KfW and will raise an additional INR 365 crore for urban infrastructure projects. These funds will support sustainable initiatives like green corridors, waste management, and renewable energy. KfW previously approved a 545-million-euro loan for Mumbai's Metro lines 4 and 4A. This agreement marks the largest financing sanctioned to an Indian entity. MMRDA, responsible for Mumbai's infrastructure, is developing a 337 km metro network, the longest being constructed simultaneously by a single agency, aiming to improve connectivity and reduce congestion....
The Royal Western India Turf Club (RWITC) and the Brihanmumbai Municipal Corporation (BMC) have been locked in negotiations for nearly five months over the future of the Mahalaxmi racecourse. While the RWITC members approved a deal in January, the proposed agreement has faced hurdles, with the club returning a modified version to the BMC for approval. Amid the uncertainty, the BMC chief's public statements about taking over the racecourse have raised concerns among RWITC members, walkers, and joggers. With the proposed plan involving the conversion of 120 acres into a public park and the remaining 91 acres handed to the RWITC, the club's members are frustrated by the lack of transparency from the managing committee. Adding to the complications is the looming state assembly elections, which have raised fears that a change in government could derail the entire process....
Delhi Metro aims to open three phase-IV corridors by 2026
Author : PNT Bureau
The Delhi Metro Rail Corporation (DMRC) is making significant progress on its fourth-phase expansion project despite challenges from the COVID-19 pandemic and administrative delays. Anuj Dayal, DMRC's Principal Executive Director, reported that over 50% of work on all three priority corridors is complete, with substantial advancements in tunnelling on the Aerocity-Tughlakabad and Janakpuri West-RK Ashram Marg lines. The Phase 4 section from Janakpuri West to Krishna Park Extension is nearing completion, slated to open by August. They expect to operationalize the entire Majlis Park-Maujpur corridor by next year, with further phases aiming for completion by 2026....
Dharavi redevelopment project faces hurdles in acquiring temporary housing
Author : PNT Bureau
The ambitious Dharavi Redevelopment Project, aimed at transforming Asia's largest slum with over 700,000 residents, encounters challenges in acquiring temporary housing for displaced residents during construction. The project, led by Dharavi Redevelopment Project Pvt Ltd (DRPPL) in partnership with Adani Realty, seeks 334 tenements for relocation. Despite acquiring 27.5 acres from railways, securing the remaining land from other agencies is pending, impacting project timelines. Disagreements between DRPPL and MHADA over payment for temporary housing further complicate matters. Resolving these issues is crucial to ensuring smooth relocation and progressing with this transformative urban redevelopment initiative in Mumbai....
Maharashtra slashes Mahalaxmi Racecourse lease rent by 70%, RWITC to pay INR 1 crore per year
Author : PNT Bureau
The Maharashtra government has dramatically reduced the Royal Western India Turf Club's (RWITC) annual lease rent at Mahalaxmi Racecourse in Mumbai from INR 3 crore to INR 1 crore, focusing only on the built-up areas like the clubhouse and stables. This decision, criticised by some, includes leasing the remaining 79 acres of open space for public use on non-racing days at a concessional rate. Meanwhile, discussions continue on the racecourse's future, with proposals ranging from a theme park to integrating it into a larger 300-acre Central Park connected via an underground subway....
Karnataka pushes for new CBD, inspired by Gujarat's GIFT City
Author : PNT Bureau
The Karnataka government has proposed establishing a Central Business District modelled after Gujarat's GIFT City and sought expedited project approvals. IT & BT Minister Priyank Kharge, in a letter to Union Finance Minister Nirmala Sitharaman and Union IT Minister Ashwini Vaishnaw, highlighted Karnataka's vibrant economy and strategic location. The proposed CBD aims to boost economic growth, employment, and foreign investments. Karnataka, a leader in IT and electronics exports, plans to develop clusters under the EMC 2.0 scheme in Mysuru and Dharwad districts and seeks further financial support for infrastructure, skilling programmes, and research initiatives from the Union government....
Goa's Kadamba Plateau water project faces challenges in connecting homes
Author : PNT Bureau
Goa's Public Works Department has begun connecting homes on Kadamba Plateau to its water network, laying a 4-5 km pipeline since 2021. Nearly 200 houses now have water access, with ongoing efforts to extend connections to residential complexes. Challenges include elevational issues requiring additional overhead tanks for complexes and upgrades to Opa's water treatment plants. Lack of prior planning by builders led to reliance on private borewells, straining existing infrastructure. Options like a new 10 MLD treatment plant at Opa are considered, needing substantial investment. While individual homes benefit, timelines for complex connections remain unclear amid efforts to address water demand and elevation challenges....
RWITC secures 91 acres of Mahalaxmi Racecourse on lease for 30-years
Author : PNT Bureau
Mumbai's iconic 211-acre Mahalaxmi Racecourse is set for transformation as the Maharashtra government divides the land between RWITC and BMC. RWITC retains 91 acres for horse racing with a 30-year lease extension, while BMC gains 300 acres, including coastal road land, for a sprawling central park akin to global counterparts. Reactions vary, with some applauding new green space and others wary of partial privatisation. BMC plans a world-class garden, ensuring RWITC pays nominal rent and event fees. The decision highlights Mumbai's challenge in balancing public needs, historical significance, and commercial interests, urging transparency in future developments....
Eco-Friendly Office Spaces: India's growing trend in green commercial real estate
Author : PNT Bureau
India's commercial real estate is embracing sustainability with a focus on green buildings. These eco-friendly structures integrate smart technologies and recycled materials, reducing energy consumption by up to 30% and cutting water use in half. Beyond environmental benefits, green buildings command higher rental premiums, increase occupancy rates, and slash operating costs by 15%. With 61% of new developments already green-certified, and projections for 65% by 2026, India leads in sustainable commercial real estate. This shift, driven by tenant demand and government support, promises a future where business growth goes hand-in-hand with environmental responsibility....
Indian railways are expected to add lines worth INR 50000 crore this year
Author : PNT Bureau
Indian Railways is set for significant infrastructure expansion with a proposed 39% increase in this year's budget for new railway lines, aiming to boost connectivity and regional development. The government targets 100,000 kilometres of new lines by 2047, reflecting a strong growth strategy. Concurrently, the implementation of the indigenously developed Kobach Automatic Train Protection system enhances passenger safety. Successfully trialled on a 250-kilometre stretch, Kobach will be deployed across 10,000 kilometres, prioritising routes with high traffic. This dual approach underscores Indian Railways' commitment to modernization and safety, ensuring a future of improved connectivity and operational efficiency....
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