Central Railway completes major platform upgrades at Thane and CSMT
The Central Railway carried out platform widening, and extension works at Thane and CSMT stations over the weekend to facilitate longer passenger trains. The work was carried out in a 36-hour shutdown from 1-2 June on the CSMT-Byculla and CSMT-Vadala Rd lines. Platforms 5 and 6 at Thane were widened using concrete blocks to ease passenger movement. Platforms 10 and 11 were extended at CSMT using a new signalling system. Over 250 workers completed the works within the shutdown period to resume train services on schedule....
Driving Growth: India's ambitious highway plans to generate INR 1 lakh crore by 2028
With over 8,551 kilometres of new projects awarded in FY24 and a target to double that figure by FY25, India's road network is on an ambitious trajectory. The surge in toll revenue, predicted to exceed INR 1 lakh crore by 2028, is attracting Infrastructure Investment Trusts (InvITs) and unlocking new funding avenues. Backed by the government's asset monetization program, this road expansion promises a more connected, efficient, and prosperous India. As toll collections soar and investor confidence grows, the road sector emerges as a cornerstone of India's economic growth story....
BMC reclaims Byculla bakery land for major redevelopment project
The Brihanmumbai Municipal Corporation (BMC) recently demolished a 50-year-old bakery in Byculla, Mumbai, occupying 500 square meters of land owned by the civic body. The bakery, which had been operating in the Kamathipura area since 1974, was allegedly hindering the redevelopment process of the area. Despite being provided an alternate location in Goregaon by the BMC, the bakery owner continued to use both premises, leading to a legal battle. The court ultimately ruled in favour of the BMC, allowing the demolition to proceed under the supervision of 25 BMC officials and 20 police officers. The civic body has already issued a letter of intent for the redevelopment of the 3,400 square meter area, which includes 117 tenants, ensuring the creation of a 22-story rehabilitation wing, a 35-storey sale tower, and a new public playground. This case sets a precedent for the BMC's renewed efforts ...
India's GCCs lease 22.5 msf of office space, driven by tech and manufacturing
India's Global Capability Centres (GCCs) are experiencing a remarkable surge, with a 17% year-on-year increase in office space leasing to 22.5 million square feet in the financial year 2023-24. The growth is primarily driven by sectors like Engineering and Manufacturing, BFSI, and Technology, with GCCs accounting for a 29% share of total office leasing in the last quarter. Geographically, Bengaluru, Hyderabad, and Delhi NCR lead the GCC expansion. India's strategic focus on digital technology, coupled with its competitive talent and rental costs, are instrumental in attracting global players to establish and expand their GCC presence in the country. The report projects India to host over 1,900 GCCs by 2025, with a professional talent pool exceeding 2 million....
Building a Sustainable Future: Bengaluru mandates treated water for construction
The Karnataka State Pollution Control Board (KSPCB) mandates using treated water from sewage treatment plants (STPs) for construction in Bengaluru. This move aims to conserve groundwater resources valued at INR 3,584 crore (USD 48 billion). Despite initial concerns from builders about water quality affecting concrete strength, a study by the Indian Institute of Science (IISc) confirmed the safety and effectiveness of treated water. The initiative requires strict adherence to water quality standards by STPs. A successful pilot program in Bellandur is paving the way for city-wide adoption, potentially saving millions of litres of water annually....
40% of India's infrastructure projects delayed, cost overruns hit INR 5 trillion
India's ambitious infrastructure development plans are facing a significant challenge, with nearly 40% of projects running behind schedule, leading to cost overruns. A government report reveals that out of 1,873 projects, 779 are delayed, causing a cost overrun of INR 5 trillion, increasing total project costs from INR 26.9 trillion to INR 31.9 trillion. This situation raises concerns for banks and NBFCs, which have loaned INR 26.9 trillion for these projects. The delays disrupt the repayment cycle, prompting the RBI to propose stricter guidelines for project loans. Despite these issues, infrastructure loans have grown by 30% over the past five years....
BMC addresses leakage, extends Mumbai coastal road opening to October
The much-anticipated Mumbai Coastal Road, a critical infrastructure project, has hit a snag with the discovery of a leakage in the recently opened south-bound tunnel. The Brihanmumbai Municipal Corporation (BMC) has now pushed forward the opening of the entire road by almost five months, from May to October this year, in order to address the issue. Maharashtra Chief Minister Eknath Shinde has assured the public that the main structure of the road is safe, and the leakage, which is from the expansion joints, is being addressed as a priority. The delay in the project's completion is also attributed to a labour shortage and the upcoming monsoon season, which will impact road construction. Despite these challenges, the BMC remains committed to delivering this crucial infrastructure project to the people of Mumbai....
Thane district's 76-kilometre segment of Samruddhi Mahamarg to open by August 2024
The final 76-kilometer stretch of the Samruddhi Mahamarg in Thane district, Maharashtra, is nearing completion and is expected to be open for traffic by the end of August. This milestone marks the full operationalization of the 701-kilometer expressway, the longest in the country. The Thane segment includes 16 bridges and four tunnels, with the Khardi bridge, standing at 82 meters, being the tallest on the expressway. Despite the technical challenges posed by the hilly terrain and the complex bridge construction, the Maharashtra State Road Development Corporation (MSRDC) is working diligently to ensure the project's timely completion. Once fully operational, the Samruddhi Mahamarg will provide a seamless link between Nagpur and Mumbai, transforming the transportation landscape of the state....
India's data centre expansion requires 10 million sq. ft of real estate
The Indian data centre industry is gearing up for exponential expansion, with experts forecasting a staggering increase in capacity to 791 MW by 2026. This growth will necessitate an additional 10 million square feet of real estate space and attract investments totaling USD 5.7 billion. The surge is fuelled by the rising adoption of Artificial Intelligence (AI), which is driving demand for data storage and processing power. Cloud Service Providers (CSPs) are leading the charge, aligning their infrastructure to accommodate the AI-driven demand. India's commitment to AI development, coupled with its growing digital reliance, positions the nation as a global data hub....
Madhya Pradesh government announces the construction of two new IT Parks by 2025
The Madhya Pradesh government is taking a significant step in establishing Indore as a premier IT hub by constructing two new IT parks, set for completion by the end of 2025. The Madhya Pradesh Industrial Development Corporation (MPIDC) confirmed the development of "IT Park-3" and "IT Park-4," which will join the existing four IT parks, increasing dedicated IT park space by 50%. IT Park-3 on Khandwa Road will span six acres with a 19-floor building, while IT Park-4 in Pardesipura Electronics Complex will cover 3,785 square meters, focusing on the ESDM sector. These projects aim to attract diverse tech companies and create thousands of jobs, positioning Indore as a key player in India's IT industry....
YEIDA plans new affordable housing scheme near Noida International Airport
The Yamuna Expressway Industrial Development Authority (YEIDA) plans to launch an affordable housing project providing 6,500 residential plots in sectors bordering the upcoming Noida International Airport. The bulk of plots (6,000) measuring 30 sqm each are priced at INR 8 lakhs to promote home ownership among lower-income groups. A further 500 larger plots from 200-4,000 sqm will be allotted via lottery following guidelines. The scheme aims to enable housing for all socioeconomic classes as the airport area expands. Launch is scheduled post-elections once final approvals are in place....
BMC issues INR 151-crore tender for Topiwala Market redevelopment in Goregaon
After years of stagnation, the redevelopment of Topiwala Market near Goregaon railway station is set to progress with a new INR 151-crore tender issued by the BMC. Designed by Shashi Prabhu and Associates, the 16-story building will feature a market on the ground and first floors, parking podiums, an 800-seat auditorium, and residential floors for hospital doctors. Initial reluctance from vendors and legal hurdles delayed the project, originally started in 2017. After the COVID-19 pandemic caused further setbacks, the BMC terminated the previous contractor and issued a new tender. The modern complex will integrate market spaces, an auditorium, and residential units, prioritizing accessibility, sustainability, and community engagement....
Mumbai Monorail to improve frequency with arrival of new rakes
The Mumbai Metropolitan Region Development Authority (MMRDA) aims to add 10 new monorail rakes to its existing fleet servicing the 17km Chembur-Wadala to Sant Gadge Maharaj Chowk corridor in Mumbai. The procurement is aimed at addressing frequent breakdown-related delays on the line by improving service frequency and passenger capacity. With the induction of higher capacity rakes that can accommodate over 600 passengers, along with more frequent services, MMRDA expects ridership to increase substantially on the monorail network. The modernization of Mumbai's public transport is vital to support the city's growing population and economy....
Roadway Solutions secures INR 4,900 crore projects, expands order book to over INR 11,000 crore
Pune-based Roadway Solutions India Infra Limited (RSIL) has secured two major infrastructure projects in Maharashtra, valued at a combined total of INR 4,900 crore (USD 590 million). This win strengthens RSIL's position in India's infrastructure sector. The projects include constructing a 24.5-kilometer access-controlled Pune Ring Road and a 13.43-kilometer expressway connector between Jalna and Nanded. These projects, along with recent equity infusion of USD 120 million, boost RSIL's order book to over INR 11,000 crore. Senior VP B.K. Singh emphasized RSIL's commitment to innovation and excellence in transforming India's infrastructure landscape....
BMC awards INR 1,300 crore tender to NCC Ltd for concretization of 215 roads
The Brihanmumbai Municipal Corporation (BMC) has awarded a INR 1,300 crore tender to NCC Ltd for the concretization of 215 roads, marking a shift from traditional asphalt to more durable concrete surfaces. This project follows a terminated INR 1,687 crore contract with Roadway Solutions India Infra Ltd (RSIIL) due to slow progress and a subsequent INR 64.6 crore penalty. NCC Ltd's bid represents a 10% cost reduction. However, the monsoon season and upcoming state assembly elections will likely delay project initiation. The BMC will use this period to finalize road sequencing, relocate utilities, and obtain traffic clearances....
The Adani Group plans a USD 3 billion investment to expand its presence in ports along the India-Europe trade corridor, reflecting confidence in global trade growth. Adani Ports and Special Economic Zone Ltd (APSEZ), which handles 600 million metric tonnes (mmt) of cargo annually, aims to increase this to 800 mmt in two years. This will be achieved through strategic acquisitions in Europe, Africa, and Southeast Asia. Funded by cash reserves, internal profits, and debt, this expansion aligns with India's vision of stronger trade ties. APSEZ's revenue reached INR 226,711 crore (USD 28.3 billion) in 2023-24, with a 50% net profit increase....
BMC approves reconstruction of Curry Road, Matunga, and Mahalaxmi bridges
In a joint meeting with MRIDCL officials, the BMC approved the reconstruction of Curry Road, Matunga, and Mahalaxmi bridges. The preliminary phase is underway, aiming to alleviate traffic congestion and save time and fuel. The BMC will fund the project, with MRIDCL handling construction. Additionally, progress on Ray Road, Byculla, Tilak, and Ghatkopar bridges was reviewed. The Ray Road Bridge is 77% complete, targeting a November 2024 opening. Meanwhile, Olivant, Arthur, and S bridges were deemed in good condition and will not undergo immediate reconstruction....
MoRTH keen on awarding over 3000 km of new projects and constructing 1700 km of highways
The Ministry of Road Transport and Highways has outlined an ambitious 100-day action plan which would be following the recent elections. Key priorities in the plan include awarding over 3,000 km of new highway projects, constructing 1,700 km of roads, and implementing initiatives to enhance safety. The ministry is awaiting Cabinet approval for its proposed INR 20 trillion funding proposal to allow projects to progress. Other goals are operationalizing roadside amenities, launching alternative fuel vehicles, rectifying 'blackspots' and providing cashless treatment for accident victims. This comes as road accidents continue rising in India, with over 460,000 reported in 2022 alone. The ministry hopes its 100-day agenda, if implemented successfully, can boost highway development and improve safety....
Flexible workspace providers expand footprint across India, projected 12% growth by 2028
Major flexible workspace and managed office space providers are planning aggressive expansion across India in 2024-25 to capitalize on rising demand. WeWork India, IndiQube, 315Work Avenue and IWG will add over 4 million square feet of new capacity primarily in tier 1 cities but also expand to tier 2/3 locations. They will enter newer cities like Guwahati, Kolkata, Bhubaneshwar, Delhi NCR and Hyderabad. The market share of flexi spaces is projected to grow from 7% to 12% by 2028, indicating strong potential for scale up....
Rajasthan rethinks land allotment policy to boost MSMEs
As the Rajasthan government seeks to revive the industry, it is re-evaluating the state's land allotment policy for manufacturing MSMEs. While land auctions introduced transparency, they have driven up land costs, diminishing MSME competitiveness compared to preferential allotments based on circle rates with discounts. However, the previous preferential system also faced issues as land allotment decisions depended on RIICO officials' discretion. By benchmarking best practices from other states and incorporating technological solutions, Rajasthan hopes to develop a balanced land allotment approach that supports its large MSME sector through affordable land without compromising on transparency. Getting this policy right will be instrumental in realizing the state's industrial growth ambitions as envisioned in its upcoming investors' summit....
MMRDA secures large loans to fund Mumbai's infrastructure growth
The Mumbai Metropolitan Region Development Authority (MMRDA) has received significant funding to support infrastructure development projects across Mumbai over the next decade. In March, the Maharashtra government approved loans of up to INR 60,000 crore for MMRDA from public institutions. An additional INR 30,000 crore in funding was proposed. This financing will enable expansion of Mumbai's metro rail network through six new lines totalling 337 km, as well as road tunnel, coastal road, and solid waste management initiatives. The objective is to increase Mumbai's GDP to USD 300 billion by 2030 through improved connectivity and development of new economic centres....
BDA plans to redevelop housing complexes into commercial spaces in Bengaluru
The Bangalore Development Authority (BDA) plans to redevelop seven of its housing complexes across Bengaluru into shopping malls and commercial spaces to generate more revenue from rental income. However, local residents have strongly opposed the move, arguing it is unnecessary given the existing commercial development in the area. Of the seven sites, the proposal to redevelop the Indiranagar complex into a mixed-use development has faced particularly vocal opposition from Resident Welfare Associations (RWAs). The private developers will have rights over the redeveloped land for 60 years as part of the agreement with BDA. While officials claim annual revenue of INR 40 crore once complete, RWAs have urged them to reconsider the plan due to concerns over traffic, pollution and lack of public consultation....
National Highways Authority of India scales up highway monetization efforts
The National Highways Authority of India (NHAI) plans to significantly increase its monetization of highways through the Toll-Operate-Transfer (ToT) model this financial year. It intends to offer around 12 bundles of highway stretches for bidding by private companies, up from just four bundles offered last year. The next round of bidding for three new bundles will begin in June. This year, the bundles will comprise highways of different sizes - large, medium and small, unlike the big and small categories previously. NHAI has identified 33 highway stretches spanning 2,741 km that will be offered for monetization this year. NHAI expects to raise INR 54,000 crore in 2024-25 from monetization through the ToT and InvIT models....
The evolution of luxury living: How spirituality is enriching Mumbai's real estate landscape
Mumbai is witnessing a shift as its luxury real estate developments increasingly incorporate spaces dedicated to spirituality. Developers are adding amenities like meditation areas, yoga studios and gardens to offer respite from the fast pace of life in high-rises. This reflects a growing recognition that true luxury means nurturing both the body and soul. One project, Omkar Alta Monte, is even planning to include a Hindu and Jain temple on site. As individuals and societies evolve to seek greater work-life balance and well-being, the integration of spirituality into Mumbai's luxury living spaces will likely continue expanding in innovative ways. In doing so, they reflect how Mumbai remains on the cutting edge of trends that can enhance urban living for more residents....
MCD launches comprehensive survey to identify dangerous buildings ahead of monsoon
The Municipal Corporation of Delhi (MCD) has initiated a survey of buildings to identify and address potential dangers ahead of the monsoon season. With 35 lakh buildings under its purview across 12 zones, the MCD aims to complete the survey by June 2024. Last year, over 30 lakh structures were inspected, resulting in 292 notices for repairs and eight buildings declared dangerous, primarily in the Rohini zone. The survey covers various localities, including approved and unauthorized colonies. MCD officials stress prompt action on any dilapidated structures to prevent accidents during the impending monsoon, prioritizing government facilities and schools....
Haryana government's Global City project gets environmental clearance
The Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) has received environmental clearance for its ambitious Global City project coming up near Gurugram. Spread over 1,000 acres, the project will develop residential, industrial and commercial areas in sectors 36B, 37A and 37B. Costing INR 940 crore, phase 1 covering 587 acres will be completed by 2026 and include roads, drainage, utilities and landscaping. The unique feature is a 10km underground utility tunnel to avoid future road digging. Global City is planned as a self-sufficient township with a focus on modern technology and future-oriented industries, low carbon green infrastructure, ease of living, skilling of people, and employment generation....
High-speed coastal road corridor: A sea-change in the way Mumbai drives
The Brihanmumbai Municipal Corporation (BMC) has achieved a significant milestone with the successful deployment of a massive 25,000-ton girder to connect the south-bound corridor of the coastal road to the Bandra Worli Sea Link. This engineering feat, involving the launch of a bow-string-arch-type girder spanning 136 meters, represents a pioneering endeavor in India and signals the BMC's commitment to innovative infrastructure development. The integration of this innovative girder marks a crucial advancement in the Coastal Road Project, enhancing connectivity and underscoring the BMC's dedication to transforming Mumbai's transportation landscape....
BMC orders evacuation of 188 dilapidated buildings in Mumbai
The Brihanmumbai Municipal Corporation (BMC) has declared 188 buildings in Mumbai as extremely hazardous and at high risk of collapse. Classified as C1 structures, these buildings were found to be in severe disrepair posing serious safety issues. While the BMC has managed to evacuate 84 buildings so far, residents of 63 buildings have challenged the orders in court. Over the past two years, 493 additional buildings were classified as C1, of which 289 have been demolished. The BMC has ordered the immediate evacuation of all 188 buildings and published the list on their website. BMC is urging residents to evacuate these buildings before the monsoon season arrives....
IRB Infrastructure bets big on BOT model for highway development
IRB Infrastructure Developers has committed most of its planned investments for 2024-25 towards expanding road capacity through the Build-Operate-Transfer (BOT) model of public-private partnership. The company plans to invest INR 10,000-12,000 crore, with around INR 8,000 crore expected from BOT projects. It is also targeting INR 4,000 crore from acquiring highway assets through Toll-Operate-Transfer deals. This focus on BOT comes as the government pushes greater private participation in developing highways. IRB currently owns and operates 15,000 lane km of roads across 12 states through various PPP models including BOT, HAM and TOT....
Loaded integrated trials set to begin on Mumbai's Metro 3 Aqua Line
The Aqua line, Metro 3, in Mumbai, is reaching a crucial phase with loaded integrated trials set to begin on the Aarey-Bandra Kurla Complex route. These trials, involving filled coaches, ensure operational safety and functionality before passenger operations commence. With 96% of the project already completed, now the focus is on station beautification and multimodal integration to enhance the commuter experience. Metro 3's advanced features, including unmanned operation, signify a step towards delivering a world-class metro system for Mumbai residents....
Royal India Corporation launches Kalyan Marina project worth INR 450 crore
Royal India Corporation Limited (RICL) is investing INR 450 crore into Kalyan Marina, a transformative project in Kalyan, Maharashtra. Spanning 2.2 acres, the development aims to create 5 lakh square feet of modern living, office, and retail spaces. Sunder Iyer and Mangal Keshav's family offices are backing the project with a preferential issue of INR 100 crore, showcasing confidence in Kalyan's growth. Kalyan Marina's strategic location near Kalyan Station aligns with the ongoing INR 900 crore modernization project, promising enhanced connectivity and convenience. This significant investment signals Kalyan's emergence as an attractive destination for residential and commercial ventures, bolstering its future prospects....
From Farmland to Airport City: Jewar's real estate boom ahead of airport launch
The Noida International Airport in Jewar is nearing completion, with trial operations expected to begin by the end of June. Recognized as the "Jewar airport," this project has transformed the region into an airport town, attracting real estate investments and economic opportunities. Local residents are capitalizing on this growth through land investment and property rentals. Land prices are expected to rise significantly post-operationalization, prompting investors to buy plots nearby. Additionally, the surge in housing demand has led residents to rent out rooms and buildings, fetching monthly rents ranging from INR 5,000 to INR 8,000. The state government is developing a metro connection to enhance connectivity. However, long-term prosperity depends on human capital development, prompting calls for improved educational facilities and vocational training institutes....
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