05 Mar 2025

Former Kotak Mahindra Bank CEO Uday Kotak has made Mumbai's most expensive real estate purchase, acquiring Shiv Sagar at Worli Sea Face for INR 202 crore at a record-breaking INR 2.71 lakh per sq ft. The 7,418 sq ft property surpasses previous highs on Altamount Road (INR 2.25 lakh per sq ft) and Bhulabhai Desai Road (INR 2.09 lakh per sq ft). This marks another major acquisition for the Kotak family, who previously bought Champagne House next door. Mumbai's luxury real estate sector continues to thrive, with ultra-high-net-worth individuals driving record-breaking transactions despite rising costs.Read more

05 Mar 2025

The Asian Development Bank (ADB) has approved a USD 200 million loan for the Kolkata Municipal Corporation Sustainability, Hygiene, and Resilience Project to modernize sewerage and drainage infrastructure in the city. The project aims to address urban flooding, outdated drainage systems, and climate resilience by constructing 84 km of trunk and secondary pipelines, 176 km of lateral pipelines, one sewage treatment plant, and five pumping stations. Over 277,000 residents will benefit, particularly in vulnerable communities. This initiative aligns with broader climate-resilience efforts, including World Bank-funded flood mitigation in Mumbai and a EUR 100 million AFD-backed stormwater drainage upgrade in Chennai. As Indian cities increasingly seek international funding for climate adaptation, Kolkata's project could serve as a model for urban infrastructure resilience across South Asia.Read more

04 Mar 2025

The Yamuna Expressway Industrial Development Authority (YEIDA) has transferred 230 acres of land to Bayview Bhutani Film City Private Limited, marking a major step in developing the Noida Film City near the upcoming Noida International Airport. The project, part of a larger 1,000-acre plan, aims to transform the region into a film production hub, creating an estimated 500,000 jobs. With sustainability measures, a film institute, and advanced shooting facilities, the Film City is expected to attract filmmakers and boost economic growth. Its strategic location and infrastructure development will further enhance the region's long-term economic prospects.Read more

Arun Nair

04 Mar 2025

The Mumbai Metropolitan Region Slum Rehabilitation Authority (MMR SRA), established in 2020, aims to eliminate slums and improve living conditions in areas outside BMC limits, including Vasai-Virar. Under the scheme, eligible residents will receive 300 sq. ft. free housing with modern amenities. However, low awareness has led to underutilization in Vasai-Virar. A recent workshop by MMR SRA and VVMC informed citizens, developers, and officials about the scheme. Additionally, VVMC is clearing unauthorized structures and planning cluster developments at 40 identified sites. These initiatives are expected to transform Vasai-Virar into a slum-free, well-planned urban zone.Read more

04 Mar 2025

Mumbai's real estate market recorded 11,541 property registrations in February 2025 that yielded INR 896 crore in stamp duty revenue. The monthly registrations indicated a 4% increase from January, despite a slight decline compared to the previous year. Residential transactions, particularly in the premium segment, accounted for 80% of the transactions. The demand for properties below INR 50 lakh fell by 19%. Market preferences shifted towards larger apartments. Central Suburbs saw the largest growth in market share from 29% to 33%. Industry leaders expressed confidence in sustained growth driven by government initiatives and market stability.Read more

04 Mar 2025

Navi Mumbai Municipal Transport (NMMT) is set to modernize its fleet by replacing diesel buses with electric and CNG vehicles, backed by a INR 270 crore budget allocation. Currently operating 255 electric buses, NMMT plans to add 140 more next year. Charging stations and CNG refueling points will be installed through PPP and EPC models. The upgrade includes an Intelligent Transport Management System (ITMS) for improved scheduling, tracking, and mobile ticketing. Expanding routes and leasing a commercial complex in Vashi will boost revenue. This initiative aligns with sustainability goals, enhancing public transport efficiency in the Mumbai Metropolitan Region.Read more

Vidhi Sangoi

03 Mar 2025

The 464-km Raipur-Visakhapatnam Expressway, part of Bharatmala Pariyojana Phase-I, is set to enhance connectivity across Chhattisgarh, Odisha, and Andhra Pradesh. Expected to be completed in 2025 at an estimated cost of INR 20,000 crore, the project will reduce travel time from 14 to 7 hours. Constructed under the Hybrid Annuity Model, the expressway will boost manufacturing, logistics, and real estate along its route, while improving access to Visakhapatnam Port. Environmental safeguards, including wildlife crossings and afforestation, are integrated into the project. This transformative corridor will drive economic expansion, trade efficiency, and regional development in eastern India.Read more

03 Mar 2025

The construction of Mumbai Metro 7A, intended to link Gundavali with Chhatrapati Shivaji Maharaj International Airport, has been halted due to a breach of the Airport Authority of India's (AAI) air funnel zone regulations. The Mumbai Metropolitan Region Development Authority (MMRDA) has since sought a revised clearance from AAI to recommence work. The 3.42-kilometre-long corridor, featuring both elevated and underground sections, is being built by J Kumar Infraprojects Ltd, with consultancy provided by Systra MVA Consulting. AAI had initially approved construction with a height restriction 2.9 metres lower than the project's specifications. MMRDA has requested AAI to reconsider, arguing that adjusting the metro line's height is technically unfeasible.Read more

03 Mar 2025

The construction of two flyovers near Mahalaxmi Railway Station, approved five years ago, is still ongoing. The Brihanmumbai Municipal Corporation (BMC) has directed an expedited schedule, aiming for completion by October 31, 2026, even during the monsoon. The INR 497 crore project includes an 803-meter cable-stayed bridge on Keshavrao Khadye Road and a 639-meter flyover on Dr. E. Moses Road. These flyovers aim to ease congestion on the 100-year-old Mahalaxmi bridge. Challenges, including encroachments and railway permissions, have delayed progress. Once completed, the project will improve connectivity between Mahalaxmi, Worli, and Haji Ali, reducing traffic congestion significantly.Read more

Vidhi Sangoi

03 Mar 2025

The dispute between MMRDA and French engineering firm Systra India over Mumbai Metro projects has intensified, involving allegations of contractual breaches, corruption, and unfair termination. Systra, engaged in Metro lines 5, 7A, and 9 under a INR 90.76 crore contract, has accused MMRDA of undue demands and payment suspensions. MMRDA has refuted the claims, citing confidentiality breaches, safety lapses, and unauthorized staffing. The Bombay High Court ruled MMRDA's termination notice 'arbitrary,' ordering a fair hearing. With diplomatic intervention from the French Embassy and political scrutiny in Maharashtra, the conflict raises concerns over governance, transparency, and international business relations.Read more