September 2016 Vol 02


Thane, Kalyan-Dombivli among 5 in state to make it to smart city list

Five cities from Maharashtra have made it to the list of 27 smart cities announced on Tuesday.Manisha Mhaiskar, principal secretary, urban development (UD) II, said the state government has selected ten cities to compete for the Centre’s Smart City Project. In the first round, held this January, Pune and Solapur were selected. In the second, whose results were announced on Tuesday, five cities, including Aurangabad, Kalyan-Dombivli, Nagpur, Nashik and Thane, were selected.

  Source: The Times of India, Wednesday 21 September 2016

Tata Comm leases Office space in BKC

Tata Communications has picked up 60,000 sq ft of office space on lease at Parinee Crescenzo in Mumbai’s Bandra-Kurla Complex, said two persons familiar with the development, making it the largest office space transaction in the alternative business district so far this financial year.“The company has picked up the entire 15thfloor in this 20-storey building through this deal for a total tenure of five years,“ said one of the persons mentioned above.

Source: The Economic Times, Wednesday 21 September 2016

To decongest the city, building height to be linked to width of roads

In a bid to decongest Mumbai, the country’s commercial capital, the government has decided to restrict heights of buildings in proportion to the width of roads that serve them. Under the plan, narrower the road lesser will be the vertical limit for buildings around it, and vice versa.

Source: The Indian Express, Wednesday 21 September 2016

By 2018, drive from Mumbai to Goa in just six hours

A drive between Mumbai and Goa, located at a distance of about 600km, will take just six hours, thanks to the revival of the National Highway Authority of India’s (NHAI) four-lane concrete road project, Union minister for road transport, highways and shipping Nitin Gadkari said on Thursday.

Source: The Times of India, Friday 23 September 2016

Realty may draw big money from PE firms this year

The year 2016 is proving to be a bumper one for real estate and is expected to record the highest level of private equity investment in the sector since 2008. Based on the current pace of investments, Indian real estate is estimated to close the year with an inflow of Rs.43,600 crore through private equity (PE) transactions.

Source: The Economic Times, Monday 26 September 2016

Maharashtra a step closer to getting a housing regulator

The BJP led government in Maharashtra has formulated the draft Maharashtra Real Estate (Regulation and Development) (General) Rules 2016. This paves the way for formation of the Real Estate Regulatory Authority (RERA) and the Housing Tribunal. It would be mandatory for a realty project promoter to make all “disclosures”, including information and documents to be uploaded on the website of RERA. Every promoter will have to file a separate application for construction of each building or group of buildings.

Source: Business Standard, Friday 30 September 2016

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