Sanjay Shirsat takes charge as CIDCO Chairman, commits to freehold land initiative for Navi Mumbai
Author : PNT Bureau
Sanjay Shirsat, the newly appointed chairman of the City and Industrial Development Corporation (CIDCO) aims to transform leasehold land in Maharashtra into freehold, addressing long-standing demands from Navi Mumbai residents. He took office earlier this week, succeeding a position that had been vacant for four years. While residents advocate for freeholding, CIDCO maintains that acquired land remains leasehold. Shirsat pledged to seek government support and emphasised the importance of timely project completion, focusing on the interests of those affected and the broader community in Navi Mumbai....
BMC issues INR 918 crore tender for new flyovers to ease traffic between Ghatkopar and Vashi
Author : PNT Bureau
The Brihanmumbai Municipal Corporation (BMC) has issued an INR 918 crore tender to construct two flyovers connecting Ghatkopar, Mankhurd, and Vashi to ease traffic. One flyover will extend from the Ghatkopar-Mankhurd Link Road (GMLR) towards Vashi, while the other will connect the Sion-Panvel highway to GMLR. Concerns have arisen over the flyovers' alignment with the ongoing Metro Line 8 project. The flyovers aim to reduce congestion and improve connectivity in key Mumbai areas....
UP Government approves YEIDA Master Plan 2041 to boost development near Noida Airport
Author : PNT Bureau
The Uttar Pradesh government recently greenlit the ambitious YEIDA Master Plan 2041, set to transform the region surrounding the Noida International Airport in Jewar. Covering 3,352 sq km across six districts, the plan includes mega projects such as a medical device park, semiconductor park, olympic park, and an aerotropolis. With zoning reforms and enhanced infrastructure, the plan aims to balance industrial growth with urban development, positioning the region as a global hub....
Punjab Government raises INR 2,945 crores in online property auction for urban development
Author : PNT Bureau
The Punjab Government recently raised INR 2,945 crores through an online auction of residential and commercial properties across the state. The auction, covering various property types such as group housing, commercial land, shops, and multiplexes, was well-received by the public. Chief Minister Bhagwant Mann credited the success to the government's investor-friendly policies and confirmed that all proceeds will be reinvested into development initiatives. Approved bidders will be required to make a 10% deposit, with possession granted upon payment of 25% of the total bid value. The auction reflects strong public interest in both residential ownership and business opportunities....
Brookfield Asset Management aims to expand infrastructure investments in India
Author : PNT Bureau
Brookfield Asset Management plans to increase its investment in Indian infrastructure, building on the USD 13 billion already committed, viewing India as the "brightest spot" in emerging markets. Arpit Agrawal, head of Brookfield's infrastructure operations in India, highlighted the firm's focus on digitalisation, decarbonisation, and deglobalisation, which align well with India's growth. Brookfield is exploring new investments in fibre optics, smart meters, and gas pipelines, alongside its existing stakes in telecom towers and data centres. Agrawal also emphasized India's favorable economic conditions, including predictable currency depreciation. Brookfield manages nearly USD 29 billion in Indian assets and sees continued growth opportunities....
Vadodara-Mumbai Expressway nears 60% completion, set for 2025 launch
Author : PNT Bureau
The Vadodara-Mumbai Expressway in Maharashtra is about 60% complete and is set to be fully operational by July 2025. This eight-lane expressway will connect key hubs, including the Mumbai-Goa highway, Navi Mumbai International Airport, JNPA, and the Mumbai-Pune Expressway. Managed by the National Highway Authority of India's Thane unit, the project features segments like a 2.25 km Sasupada-Ghodbunder bridge and a 26.4 km stretch in Palghar, both nearing completion. The Morbe tunnel excavation is complete, with another tunnel planned. While some parts, like the Acchad-Dahisar underpass, lag behind, the project promises to enhance connectivity across Maharashtra....
Karnataka Government considers Nelamangala site for new international airport in Bengaluru
Author : PNT Bureau
The Karnataka state government is actively searching for a suitable location to build a second international airport in Bengaluru. The decision is driven by the city's growing development needs, increasing passenger traffic, and cargo pressure. After extensive evaluation, the final site appears to be near Nelamangala, situated along National Highway 75. The government had examined several locations, and based on the Airports Authority of India's (AAI) technical standards, the site between Nelamangala and Kunigal seems to be the chosen location. The existing Kempegowda International Airport (KIA) has been experiencing a surge in air traffic, prompting the development of a second international airport....
NMRC Seeks experienced developers for major commercial project near Okhla Bird Sanctuary
Author : PNT Bureau
The Noida Metro Rail Corporation (NMRC) has issued an expression of interest (EOI) for the commercial development of three plots totalling 44,151 square metres near the Okhla Bird Sanctuary metro station. The EOI aims to attract experienced firms and institutions skilled in commercial real estate, covering areas like project management and financing. The plots, designated for commercial use under the Noida Master Plan and Building Byelaws 2010, are available for lease for up to 60 years. Developers are expected to create buildings designed to last at least 100 years....
GMR Group plans to develop 1,500 acres around airports in Delhi, Hyderabad, and Goa
Author : PNT Bureau
GMR Group plans to develop around 1,500 acres of land near its airports in Delhi, Hyderabad, and Goa, along with building a greenfield airport in Bhogapuram, Andhra Pradesh. Their projects include industrial, hospitality, and commercial developments, with a focus on expanding Hyderabad as a hub for future commercial, IT, and healthcare projects. The Aerocity initiatives emphasize integrated commercial spaces, job creation, and enhancing social infrastructure. Partnerships with developers like Prestige Group and Bharti Realty support these ambitions, marking a paradigm shift in airport-adjacent real estate and stimulating local economies....
Madhya Pradesh: MPIDC to develop over 1,000 residential flats for industrial workers
Author : PNT Bureau
The Madhya Pradesh Industrial Development Corporation (MPIDC) plans to build residential complexes for workers in industrial areas such as Ujjain and Bhopal. The initiative aims to address the housing needs of employees who work far from city centers, particularly in key industrial zones like Pithampur. The project will start with the construction of 1,362 flats in Pithampur, costing INR 211 crore, and will include EWS units, studio apartments, and 2 BHK and 3 BHK flats. This move aims to create self-sustained industrial ecosystems, reduce commute times, and support local industries....
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