Government plans to reduce NHAI's INR 3.4 trillion debt burden over next five years
Author : PNT Bureau
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....
NaMo Grand Central Park in Thane brings nature to the city
Author : PNT Bureau
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....
Coastal Road has witnessed 4.5 lakh vehicles since opening, around 19,500 per day
Author : PNT Bureau
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....
Industrial & Logistics sector sees 22.7 percent YOY demand surge
Author : PNT Bureau
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....
Highway construction hits 12,349 km in FY 2023-24, falls short of 13,814 km target
Author : PNT Bureau
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....
Completion of Coastal Road-BWSL linkage expected by April 16th
Author : PNT Bureau
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....
Varanasi's low-flying aircraft creates digital twin map for Varanasi Smart City
Author : PNT Bureau
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....
Ben Simmons auctions luxurious LA mansion dropping the price by USD 10 million
Author : PNT Bureau
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....
Dharavi Redevelopment Project gets possession of 27 acres of railway land
Author : PNT Reporter
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....
Pune Municipal Corporation to destroy 46 dilapidated wadas prior to monsoon
Author : PNT Reporter
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....
This disclaimer ("Disclaimer") is applicable to the entire Site. Upon entering the Site it is recommended that you immediately read the Terms and Conditions and Privacy Policy listed therein. Your continued usage of this Site will indicate your unconditional acceptance of the said Terms and Conditions and Privacy Policy. You hereby agree that Prop News Time reserves the right to modify at any time, the Terms and Conditions and Privacy Policy governing this Site without prior notification. Your usage of the Site implies that you will be bound by any such modification. You agree and acknowledge that it is your responsibility to periodically visit the Site and stay updated with the Terms and Conditions and Privacy Policy of the Website.
The information contained in this Site has been provided by Prop News Time for information purposes only. This information does not constitute legal, professional or commercial advice. Communication, content and material within the Site may include photographs and conceptual representations of projects under development. All computer-generated images shown on the Site are only indicative of actual designs and are sourced from third party sites.
The information on this Site may contain certain technical inaccuracies and typographical errors. Any errors or omissions brought to the attention of Prop News Time will be corrected as soon as possible. The content of this Site is being constantly modified to meet the terms, stipulations and recommendations of the Real Estate Regulation Act, 2016 (“RERA”) and rules made thereunder and may vary from the content available as of date. All content may be updated from time to time and may at times be out of date. Prop News Time accepts no responsibility for keeping the information on this website up to date or any liability whatsoever for any failure to do so.
While every care has been taken to ensure that the content is useful, reliable and accurate, all content and information on the Site is provided on an "as is" and "as available" basis. Prop News Time does not accept any responsibility or liability with regard to the content, accuracy, legality and reliability of the information provided herein, or, for any loss or damage caused arising directly or indirectly in connection with reliance on the use of such information. No information given under this Site creates a warranty or expands the scope of any warranty that cannot be disclaimed under applicable law.
This Site provides links to other websites owned by third parties. Any reference or mention of third-party websites, projects or services is for purely informational purposes only. This information does not constitute either an endorsement or a recommendation. Prop News Time accepts no responsibility for the content, reliability and information provided on these third-party websites. Prop News Time will not be held liable for any personal information or data collected by these third parties or for any virus or destructive properties that may be present on these third-party sites.
Your use of the Site is solely at your own risk. You agree and acknowledge that you are solely responsible for any action you take based upon this content and that Prop News Time is not liable for the same. All details in the form of news stories, photos and videos provided on this Site are updated on the basis of information available from the respective developers/owners/promoters. All such information will not be construed as an advertisement. This Site is for guidance only. Your use of this Site – including any suggestions set out in the Site and or any use of the resources available on this Site, do not create any professional–client relationship between you and Prop News Time. Prop News Time cannot accept you as a client until certain formalities and requirements are met.
Cookie Disclaimer
We use cookies to give you the best possible service while using our website, please accept it and continue browsing if you're happy with this. For more information see our Privacy Policy
