Mumbai Metro One Pvt Ltd (MMOPL), a subsidiary of Reliance Infrastructure, owes the Maharashtra government a substantial debt of Rs 1,700 crore. This financial assistance is a critical first step in sustaining and growing Mumbai’s metro system. The government’s resolve to enhance urban transportation and lessen the financial strain on
It has been approved for the Mumbai Metropolitan Region Development Authority (MMRDA) to issue bonds worth Rs 50,000 crore to finance a number of infrastructure projects in the city and its surrounding areas. The idea was presented before the MMRDA meeting on Friday, which was presided over by Chief Minister
The Mumbai Metropolitan Region’s (MMR) apex body, CREDAI-MCHI, stated in a report created in collaboration with CRE Matrix that overall home sales in the MMR increased by 5% in FY24 compared to FY23, demonstrating the region’s innate demand for residential properties despite a difficult economic climate. The report’s main conclusions
An important step forward in the financing of the Mumbai Metro Line-3 project was taken on Friday when the Indian government signed the fifth and final tranche loan agreement with the Japanese International Cooperation Agency (JICA). MMRC representatives were also able to watch the signing ceremony online. It took place
The state cabinet has instructed MMRDA’s executive committee to investigate paying out Mumbai Metro One Pvt Ltd (MMOPL)’s lenders in full, even though the Shinde government has postponed its ambitions to purchase Metro 1. Metro 1, the city’s oldest route, is the only one run by a public-private partnership. It
The Mumbai Metro Rail Corporation (MMRC) has announced a revised cost for the underground Metro Line 3, which connects Colaba to Bandra SEEPZ. The Japan International Cooperation Agency (JICA) is providing funding for the project, with the total borrowing increasing to Rs 21,280.45 crore from the previous Rs 13,235 crore.
The Brihanmumbai Municipal Corporation (BMC) is considering a visionary plan proposed by renowned architect Hafeez Contractor that could transform the city with 700 acres of lush green cover extending from Worli to Colaba. This expansive new open space is set to feature elegant spiral walkways and meticulously sculpted topiary plants,
The development of Mumbai Central Public Park in India’s financial capital is picking up pace. Spanning 300 acres, the project will incorporate 120 acres from the Mahalaxmi Racecourse and around 175 acres from the Mumbai Coastal Road Project. The aim is to transform this green space into a park reminiscent
The Mumbai Metropolitan Region Development Authority (MMRDA) and German development bank KfW have agreed to fund over Rs 8.5 billion for urban infrastructure. MMRDA will also contribute Rs 3.65 billion from its resources, making the total project cost around Rs 12.15 billion. The funds will support sustainable development initiatives like
The Bombay High Court has set a deadline for the Brihanmumbai Municipal Corporation (BMC) to make three additional burial grounds available for the Muslim community in the eastern suburbs by December 2024. A bench comprising Chief Justice DK Upadhyaya and Justice Amit Borkar has instructed the BMC to develop a
Purus ut praesent facilisi dictumst sollicitudin cubilia ridiculus.