04 Oct 2024

Kishore Mishrilal Bang, promoter of Nirmal Bang Securities, has acquired two luxury apartments in the under-construction Raheja Modern Vivaria project in Mahalaxmi, south Mumbai, for approximately INR 45.69 crore. The combined carpet area of the apartments is 5,255 square feet, reflecting the increasing appeal of high-end real estate in the city. Developed by K Raheja Corp Homes, the project is expected to be completed by 2028 and replaces a former textile mill. This acquisition underscores the growing trend of luxury living among prominent business figures in Mumbai.Read more

04 Oct 2024

Kochi Metro Rail Ltd (KMRL) has proposed a new Thiruvananthapuram Metro line from Kazhakkoottam Junction to Putharikandam Ground, spanning 14.9 km. This shift follows the scrapping of plans for a Pallippuram starting point, influenced by potential NHAI objections regarding road excavations. KMRL's Managing Director, Loknath Behera, highlighted the advantages of the new alignment, which connects key areas such as Technopark and the legislative assembly, and suggested future extensions to Pallippuram, Kudappanakunnu, and Neyyattinkara in phase II. The project’s phase I is estimated to cost INR 4,673 crores, with KRTL having been dissolved in 2022.Read more

03 Oct 2024

Maha Mumbai Metro Operation Corporation Ltd. has extended its train services from October 7 to October 11, 2024, to accommodate the surge in late-night commuters during the Navaratri festival. The metro will introduce twelve additional trips between Gundavali and Andheri West, increasing the total number of trips to 294. The last trains will depart at 12:30 AM, running every 15 minutes during extended hours to ensure safe and convenient transportation for festival-goers. This initiative reflects the metro's dedication to providing reliable, accessible public transport, allowing passengers to fully enjoy the celebrations without transportation concerns.Read more

03 Oct 2024

The Navi Mumbai International Airport (NMIA) has completed its runway construction, with a trial flight scheduled for October 5, attended by Prime Minister Narendra Modi. CIDCO chairman Sanjay Shirsat expressed optimism about the project, anticipating domestic operations by March 2025 and international flights by June 2025. Developed by Adani Airports and CIDCO, NMIA will feature four terminals and is expected to alleviate pressure on Mumbai's existing airport.Read more

03 Oct 2024

During the recent WSO INDIA OHS&E Professional Development Symposium, the Mumbai Metropolitan Region Development Authority (MMRDA) received the prestigious Gold 4-Star Trophy for its Mumbai Metro Line 09 project, known as the Dream Line. This recognition underscores MMRDA's strong commitment to maintaining high safety and health standards in the construction industry. Under the adept leadership of Dr. Sanjay Mukherjee, MMRDA prioritises the welfare of its workers while ensuring projects are executed efficiently. Spanning 13.581 kilometres and featuring seven stations, this corridor will significantly improve regional connectivity and establish new benchmarks for safety practices in future urban infrastructure developments.Read more

03 Oct 2024

The Karnataka government has made e-khata mandatory for property registration starting in October to battle fraud, urging property owners to obtain it quickly as physical khatas will be phased out. Revenue Minister Krishna Byregowda highlighted that the e-khata system, already in 12 districts, will expand statewide. To aid this transition, the revenue department has digitised property records and will collect GPS coordinates as unique identifiers for each property. Additionally, the government is expediting applications to regularise Bagar Hukum land, with 160 committees handling 9.8 lakh applications, while 81.8% of land parcels are now linked to Aadhaar.Read more

02 Oct 2024

CREDAI-MCHI recently hosted the first-of-its-kind 'Redeveloping Mumbai: Ease of Doing Redevelopment (EODR)' exhibition at the Jio Convention Centre this week. The exhibition facilitated connections between over 900 housing societies and 40 leading developers. A key highlight was the launch of the Ease of Doing Redevelopment Report, showcasing insights into Mumbai's redevelopment landscape. The event featured discussions on streamlining processes and a commitment to transparency and inclusivity from government officials. A panel discussion included industry leaders, enhancing the dialogue on legal frameworks and redevelopment strategies.Read more

02 Oct 2024

The Mumbai Metropolitan Region Development Authority (MMRDA) has approved a significant sum of INR 8,498 crore for a Slum Rehabilitation Scheme at Ramabai Ambedkar Nagar and Kamraj Nagar in Ghatkopar (East). This project aims to rehabilitate approximately 17,000 slum dwellers over 48 months, providing free housing and essential infrastructure. The initiative, supported by the Government of Maharashtra, will enhance living standards while promoting sustainable urban development and aiding the Eastern Freeway extension.Read more

02 Oct 2024

Metro Line 5, also known as the Orange Line, is a key addition to Mumbai's transit system, stretching 24.90 km and featuring 15 elevated stations to connect areas like Thane, Bhiwandi, and Kalyan. The project aims to alleviate traffic congestion and offer efficient public transportation. A recent milestone in the project was the successful erection of two special spans-57.50 and 46 meters long-using high-capacity cranes, completed efficiently in just five hours. This achievement showcases the technical expertise and careful planning of the construction team, with the line expected to be completed by 2025, pending logistical factors.Read more

01 Oct 2024

Rising Sun Holdings, co-owned by Adar Cyrus Poonawalla, has acquired approximately 2.20 lakh sq ft of office space across four floors in Pune's Cerebrum IT Park for a total of INR 395 crore. The seller, Zawareh Soli Poonawalla, facilitated the sale through four separate transactions. This significant investment aligns with Rising Sun Holdings' strategy to expand its presence in India's commercial real estate sector. The company has also diversified into hospitality and other high-value real estate segments, reinforcing its role as a major player in the market despite global economic challenges.Read more