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

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

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

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

01 Oct 2024

The Mumbai Metropolitan Region Development Authority (MMRDA) has secured a significant loan of INR 31,673.79 crores from Power Finance Corporation (PFC) to finance nine key infrastructure projects. This funding will cover 80% of the total project costs and includes initiatives such as the Thane Coastal Road, the Eastern Freeway extension, and multiple elevated roads and bridges. These developments aim to improve connectivity and enhance the quality of life in MMR, transforming its transportation landscape.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

01 Oct 2024

Nvidia Corp has renewed its 375,000 sq ft office lease in Pune's Yerwada for a long-term period of 10 years, with a monthly rent set at INR 81 per sq ft. The agreement includes a 5% annual rent escalation, aligning with market standards for premium office spaces. Nvidia's presence in India, particularly in Pune, underscores the region's significance as a technology hub, driving advancements in AI, cloud computing, and more. As demand for tech solutions rises, Pune's commercial real estate market is expected to experience further growth in the coming years.Read more

30 Sep 2024

Casper Realty, a subsidiary of Phoenix Mills (PML), has acquired two prime land parcels in Mohali, Punjab, for INR 891 crore. Spanning over 13.14 acres and auctioned by the Greater Mohali Area Development Authority (GMADA), these plots are designated for commercial use. Managing director Shishir Shrivastava stated the company plans to develop a retail-led mixed-use destination, featuring retail spaces, cinemas, dining options, commercial offices, and hotels. This expansion aligns with PML's strategy, enhancing its extensive retail portfolio and contributing to Mohali's economic growth and urban development.Read more

30 Sep 2024

All flats offered by the Delhi Development Authority (DDA) in Rohini have been sold out, including over 700 Lower Income Group (LIG) units from the Sasta Ghar Housing Scheme 2024. The auction, which started on September 10, saw more than 1,100 flats sold on the first day. The DDA has introduced three housing schemes, including the Sasta Ghar, Madhyam Vargiya, and Dwarka Housing Schemes, providing a range of flats at competitive prices. The Madhyam Vargiya scheme offers approximately 5,400 flats starting at INR 29 lakh, while the Dwarka scheme includes 173 premium flats available through e-auction.Read more