The Maharashtra cabinet has approved a land acquisition and allotment policy for development projects in the 'Third Mumbai' area near the Mumbai Trans Harbour Link (Atal Setu), along with other key infrastructure and development initiatives across the state.
The Mumbai Metropolitan Region Development Authority, which is implementing the project, said that it was in talks with the World Bank for funding the project.
India's housing market has remained resilient this festival season (Dussehra-Diwali period), despite global macroeconomic challenges, tech-sector layoffs, and affordability pressures, with developers reporting 10-25 per cent year-on-year (Y-o-Y) rise in home sales across major cities.
On July 31, one of the five shortlisted companies, IRB Infrastructure, had said it would not bid for MTHL.
MMRDA official said that it was already in talks with the World Bank to get funding for the MTHL project.
The government and MMRDA are keen to develop the 22-km link, which will connect Sewri on the island city to Nhava Seva in Navi Mumbai, on an engineering, procurement and construction basis and not on the build-operate transfer model, considering past experience.
'You need to have enough funds to maintain the primacy of public transport and it should not suffer because of lack of funds.'
Bandra-Worli sea link has still not been able to make money for MMRDA in spite of steep toll for car owners.
The 6-lane bridge spanning approximately 22 km can accommodate 70,000 commuters daily at a speed of 100 kmph.
Eknath Shinde, a former auto-rickshaw driver, has emerged as a key leader in Maharashtra, culminating in his appointment as Deputy Chief Minister. His journey from a Shiv Sena rebel to a dominant figure in the state's politics is a testament to his resilience and political acumen. He gained popularity for his pro-people stance and his contributions to infrastructure projects and social welfare schemes, solidifying his position as a powerful player in the Mahayuti alliance.
The decisions were taken in the state cabinet meeting chaired by Chief Minister Eknath Shinde.
The recent blip in housing sales on a quarter-on-quarter (Q-o-Q) basis should not worry investors as the long-term prospects of real estate stocks remain on a strong foundation, according to analysts. In the first half of the calendar year 2024 (H1CY24), realty stocks surged up to 104 per cent. This sharp run should be used to book partial profit in related stocks, suggested Deepak Jasani, head of retail research at HDFC Securities.
Prime Minister Narendra Modi on Friday inaugurated the Rs 17,840 crore Atal Bihari Vajpayee Sewri-Nhava Sheva Atal Setu, the longest bridge as well as the longest sea bridge in the country connecting south Mumbai with Nhava-Sheva in Navi Mumbai.
The outer structure of Navi Mumbai International Airport's first terminal building is almost ready. Exactly behind the under-construction building, stands a partially demolished hill. Executives from the airport company are now hopeful the hill will be flattened by mid-January, paving the way for the first commercial take-off by December next year.
The Maharashtra cabinet on Thursday cleared a proposal that offers an option of availing the Old Pension Scheme (OPS) to the state government employees who joined the service after November 2005.
As the fate of the Maharashtra government hangs in balance, the state cabinet on Wednesday approved the renaming of Aurangabad city as Sambhajinagar, and that of Osmanabad city as Dharashiv.
The Maharashtra legislative assembly on Friday passed a bill empowering local tree authorities to allow the felling of all types of trees without referring matters to the State Tree Authority.
Tata Group's infrastructure and construction arm, Tata Projects, has bagged the contract to construct the upcoming Noida International Airport at Jewar, in Uttar Pradesh. As part of the contract, Tata Projects will construct the terminal, runway, airside infrastructure, roads, utilities, landside facilities and other ancillary buildings at the airport, Yamuna International Airport Private Limited (YIAPL) said in a statement on Friday. YIAPL is a 100 per cent subsidiary of Swiss developer Zurich Airport International AG and has been incorporated as a Special Purpose Vehicle to develop Noida International Airport. In 2019, Zurich Airport International AG won the bid to develop the airport.
La Nina, construction worsen air quality; spike in respiratory ailments.
'Hindus have never been polarised across Maharashtra in any state election.'
Transport projects worth Rs 60,000 crore are languishing due to red tape, while the city continues to struggle against bottlenecks created by many of them.
London-based Dar Consultants has said its bid and the one by preferred bidder Anil Dhirubhani Ambani Group's RELINFRA-Hyundai consortium are both 'responsive' or worth considering. Dar Consultants' recommendation puts the responsibility of re-considering the preferred bidder between the warring brothers squarely back with the political executive. The state cabinet's committee on infrastructure will meet Wednesday to decide the fate of the project.
Shiv Sena had last year boycotted the foundation laying of Babasaheb Ambedkar memorial by Modi saying Uddhav was not invited.
The decision was taken at a meeting of the cabinet sub-committee on infrastructure, headed by Chief Minister Vilasrao Deshmukh, at Mantralaya. The Maharashtra State Road Development Corporation would undertake the project by devising a suitable financial model.
The Maharashtra government will take a final decision on the Anil Dhirubhai Ambani Group (ADAG)-led consortium's bid for the Rs 6,000 crore (Rs 60 billion), six-lane sea link between Sewri and Nhava Sheva, better known as the Mumbai Trans Harbour Link (MTHL), within two weeks, said Public Works Minister Anil Deshmukh.
Taking strong exception to complaints and grievances of people concerning the customs and excise sectors, Prime Minister Narendra Modi on Wednesday said strict action would be taken against erring officials.
When there is a state government committed to development, it is important that Mumbai has a civic body that, too, shares that goal, Modi said.
Town planning authority MMRDA on Tuesday said that nearly 150 patients at its COVID facility in Bandra Kurla Complex (BKC) have been shifted to another location as a precaution in the wake of the Nisarga Cyclone which is expected to make a landfall close to the city on Wednesday.
The Maharashtra government's decision on the successful bidder to build its showcase project of around Rs 4,500 crore (Rs 45 billion), Mumbai Trans-Harbour Link (MTHL) or sea link between Sewri in island city of Mumbai and Nhava Sheva, is going to be watched keenly by the corporate world as Anil Ambani's Reliance Energy (REL)-led consortium is all set to submit its bid by December 15 after a long drawn legal battle.
The Indian Farmers Fertiliser Co-operative Ltd announced on Friday it has joined hands with different companies to bid for the Rs 2,600-crore (Rs 26-billion) Mumbai Trans Harbour Link Project and build a 1,000 MW thermal project in Chhattisgarh.
These projects will be undertaken by BMC, Mumbai Metropolitan Region Development Authority, Maharashtra State Road Development Corporation.
Chinese companies keen to invest in Mumbai projects
Modi said he was shocked that such voices are being raised for political gains in the land of Shivaji Maharaj.
With the Japanese government taking a lead in funding the megapolis' many signature infrastructure projects, the World Bank has evinced interest in funding the proposed Charkop-Dahisar and Wadala-Teen Hath Naka Metro projects.
Expresses inability to provide land for train terminal in Bandra-Kurla Complex, a cash cow for MMRDA
And learn what not to do from the so far jinxed Navi Mumbai International Airport.
Mumbai Monorail was to be built in two phases - Phase I of 8.93 km and Phase II of 11.20 km. The first phase ran operations for around three years before services were abruptly halted, owing to a fire incident last year. The second phase now stands completed, but is lying closed.
A look at few marquee projects that are stuck for several reasons.
An execution paralysis has gripped the city.
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