Jet Airways had purchased a 2.5-acre plot from the Mumbai Metropolitan Region Development Authority in March 2008 for Rs 826 crore (Rs 8.26 billion) for developing its global headquarters. However, the airline did not go ahead with the plans and started negotiations to sell off the land.
This is despite a 10 per cent rise in the average weekday ridership.
The recent increase in the prices of CNG has prompted auto and taxi drivers to demand demand hike in fares.
Following the success of the Rs 4,050-crore Wadala land deal in central Mumbai, at least three government agencies are planning to sell plots worth at least Rs 60 billion (Rs 6,000 crore) in the next two months.
Check out the winners and the entertainers of two star-studded nights.
Real estate developers in Mumbai propose to join hands to construct 5 lakh affordable houses for middle and lower income groups in partnership with the Maharashtra government in the next five years in the fast-growing Mumbai Metropolitan Region.
Rental housing for 43,000 low-income families in Mumbai by March 2015.
And Sachin Tendulkar came by to cheer!
Expresses inability to provide land for train terminal in Bandra-Kurla Complex, a cash cow for MMRDA
The deal is expected to be around Rs 1,000 crore (Rs 10 billion) in size and will take a month to conclude, a person involved with the talks between the two groups said. The plot is a part of the 18.5-acre land RIL had bought in 2006 from Mumbai Metropolitan Region Development Authority for Rs 1,104 crore (Rs 11.04 billion) in an auction.
The Maharashtra government has agreed to raise basic taxi fares in Mumbai by Rs 2 from the existing Rs 14.
There was some respite for Mumbaikars when the strike was called off in the evening. However, the prospect of soon having to shell out more for their journey left them anguished.
The first set of cars for the $600 million project to be used in the system's inaugural 20 km run were inaugurated at monorail factory at Rawang in Malaysia.
The civic body had come under severe attack in June.
Lodha Developers has emerged as a new realty giant in India.
The Mumbai Metropolitan Region Development Authority on Tuesday received huge response for its Iconic Tower in Wadala (a Mumbai suburb) with Lodha Crown Buildmart Pvt Ltd quoting more than double the reserve price of Rs 40,000 per sq mt.
50% of south-central Mumbai's high-end apartments remain unsold. The reasons include rocketing prices and a demand-supply mismatch. Of the unsold stock in south-central Mumbai, 38 per cent comprise units sized above 2,000 sq ft carpet area - too high for even wealthy Mumbaikars.
None of the seven consortiums shortlisted for the Maharashtra government's flagship project, the Rs 6,200-crore second phase of the Mumbai Metro, participated in the financial bids that closed on Friday. "The reason for asking more time could be the prevailing economic slowdown. They sought at least one more month to submit the bids," a Mumbai Metropolitan Region Development Authority official said.
MGL said in spite of gas cost doubling, its selling prices have increased by only 28 per cent for CNG and 30 per cent for PNG.
The Ambani brothers are once again going to clash over Mumbai's infrastructure as the Mumbai Metropolitan Regional Development Authority has decided to call financial bids for the Rs 12,000-crore (Rs 120 billion) second corridor of Mumbai Metro connecting Charkop to Mankhurd via Bandra from short-listed consortiums.
CREDAI-MCHI, a body of developers in Mumbai, has pegged the drop in sales booking at around 80 per cent in the February-March period this year. This is the second highest fall in residential sales in the past five years, after Q1, 2017, when the decline, due to the note ban, was 37 per cent.
The plot C-65 in the G Block of Bandra Kurla Complex was leased to Goisu Realty (a unit of Sumitomo) for 80 years by MMRDA.
There is speculation about presenting Kasab, the lone surviving accused, in the court, but the relaxed state of security around the court shows that Kasab is unlikely to be brought in
The Maharashtra government is considering the option of allowing private players in the municipal transport sector in the Mumbai Metropolitan Region (MMR), spread over 4,000 sq km with a population of 16 million living in seven municipal corporations and 15 municipal councils.
Starlight Systems, a unit of Piramal Sunteck Realty, has sought a four-year staggered payment option to pay Rs 496 crore (Rs 4.96 billion) for two plots it won in the financial district of Mumbai in the last financial year.
One person was killed and one injured seriously when a rotary piling machine, working on the metro rail project site of the Mumbai Metropolitan Region Development Authority, toppled over on an auto-rickshaw on Wednesday morning, crushing the passenger to death and grievously injuring the driver
Consultants say at Rs 1,442 a sq ft, the developer has got a good bargain.
One thing that has never been a hard sell in Mumbai over the past few years is property. But last week, for the first time in 13 years, Mumbai's metropolitan authorities failed to sell government land in an auction in India's financial capital.
Mumbai's first metro project between Versova-Andheri-Ghatkopar will be commissioned in 30 months, instead of the stipulated 60 months.
The hospital, in the commercial hub of Bandra-Kurla Complex, will serve as an isolation facility for non-critical COVID-19 patients. Expected to be ready in a fortnight, the new makeshift facility can be scaled up to 5,000 beds, if needed. The Brihanmumbai Municipal Corporation will run the hospital that will have, among other things, oxygen facilities and pathological laboratories. Sohini Das reports.
World Bank is likely to give Mumbai projects Rs 275 crore less, in wake of the appreciation of rupee against the dollar.
Bombay HC stays proposed Metro fare hike till Jan 29.
A consortium of six banks led by IDBI will finance the project to the tune of Rs 1,194 crore (Rs 11.94 billion), Rs 512 crore (Rs 5.12 billion) will be raised through equity while Rs 650 crore (Rs 6.5 billion) will come from the MMRDA as capital subsidy. The closure is unique in many ways as nearly Rs 200 crore (Rs 2 billion) have been spent on the project before the financial closure.
The Maharashtra government has drawn up an ambitious $60 billion (Rs 2.25 lakh crore) action plan for makeover of Mumbai, aimed to convert India's commercial capital into a global financial hub.Mumbai makeover plan is aimed at creating world-class infrastructure and to set up an integrated urban transport system using existing suburban rail, ambitious metro rail system, hovercraft, sealink and road connectivity
MMRDA is set to sell 5 more properties in BKC after receiving record bids for plot earlier. Out of the 5 plots, 2 are meant for residential structures while 2 are for commercial places and one for a gymnasium.
A day after the contract for civil work on the first line of Mumbai Metro was awarded, a senior government official said on Wednesday that work on the second line of the project is likely to begin by June.
Flight operations at the Mumbai airport were suspended for nearly half an hour as visibility dropped well below the required 550 meter-mark
Three months after its record-breaking land deals, the Mumbai Metropolitan Region Development Authority is going in for another mega auction
Researchers have found two new mutations in coronavirus samples from Amravati and Yavatmal districts of eastern Maharashtra which can escape neutralising antibodies, a senior official said on Thrusday. Meanwhile, authorities in the two districts have announced strict implementation of restrictions, including a weekend lockdown in Amravati, to stem the rising cases of COVID-19.
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