With the City and Industrial Development Corporation (CIDCO) easing the ‘Consent’ clause while undertaking the redevelopment of old and dilapidated buildings in the satellite city, more structures are now seeking permission for redevelopment. Developers acknowledge that this new rule will boost the redevelopment process. However, they highlight that the redevelopment
Prime Minister Narendra Modi inaugurated the Mumbai Trans Harbour Link (MTHL), the country’s longest sea bridge, on Friday. The sea bridge, named the Atal Bihari Vajpayee Sewri–Nhava Sheva Atal Setu, connects South Mumbai to Navi Mumbai and will reduce the current two-hour journey to just around 15-20 minutes. While inaugurating
The National Company Law Tribunal (NCLT) has approved the scheme of amalgamation and arrangement between Mumbai-based realty firm JP Infra (Mumbai) and its affiliated entities Four D Estates, Four D Buildspace and JP Infra Realty. Of these entities, Four D Estates, through its wholly-owned subsidiary JP Infra (Mumbai), is engaged
The Padgha-Kharghar transmission line in Mumbai, which will bring in an additional 2,000 MW of electricity, is expected to be ready by March 2024. The project, built at a cost of ₹900 crore, will bring cheaper power from the national grid to the Mumbai Metropolitan Region for the next few
In a strategic move to revive the Mumbai Monorail, the Mumbai Metropolitan Region Development Authority (MMRDA) has merged the Monorail Project Implementation Unit (Mono-PIU) with the Maha Mumbai Metro Operation Corporation Ltd. (MMMOCL). The decision, aimed at improving monorail operations, reducing losses, cutting costs, and eliminating duplicating expenses, received approval
Residents living within the 50-metre influence area of the upcoming underground Metro Line 3 from Colaba-SEEPZ Via Bandra Kurla Complex (BKC) have to obtain prior permission from the Mumbai Metro Rail Corporation Ltd (MMRCL) for carrying out any redevelopment or development activities. The MMRC, which is the project implementing authority,
The Mumbai Metropolitan Region Development Authority (MMRDA) has merged the Monorail Project Implementation Unit with the Maha Mumbai Metro Operation Corporation to revive the struggling Mumbai Monorail. The merger aims to improve operation, cut costs, and save expenses. The move is expected to save over ₹40 to 60 crore annually
In line with its plan to put in place a grading system for real estate projects, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has released a consultation paper proposing a framework to have a third-party inspection to ensure quality homes to home buyers. However, initially, it will be optional for
Mumbai: Maharashtra Housing and Area Development Authority (MHADA) has decided to reduce the penal interest on delayed payments of installments against various premiums to be paid in respect of Building Permission in the redevelopment projects of MHADA from the existing 18% to 12% annually. This information was announced today by
The Maharashtra Housing Minister Atul Save on Friday, November 24, informed that the state government has been planning to effect necessary requisites in the State’s new Housing Policy to make ‘Housing For All’ a reality; so that every citizen of the State gets his own house either through MHADA or
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