22ND AUGUST 2019

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Mumbai Coastal Road Project: BMC files report, says only 6.25% of work complete

Publication: THE INDIAN EXPRESS Date : 22 AUGUST 2019
Nearly one year after the work on the ambitious coastal road project was started, only 6.25 per cent of it has been completed till date even as Rs 593 crore has been spent so far on the project and other related works, a progress report tabled by the Brihanmumbai Municipal Corporation (BMC) administration Wednesday said.

Coastal Road: ₹594 cr spent since ’18, only 6% work done

Publication: HINDUSTATN TIMES Date : 22 AUGUST 2019
The Brihanmumbai Municipal Corporation (BMC) has spent ₹594 crore on the construction of the ₹12,700-crore coastal road since October 2018, but has managed to complete only 6.25% of the work, against the set target of 12.56%.

Coastal Road: Rs 594 crore spent on just 6.25 per cent work

Publication: MID-DAY Date : 22 AUGUST 2019
The BMC has spent Rs 594 crore on the Coastal Road project so far and completed only 6.25 per cent of the work as against the target of 12.56 per cent. The project has been stalled since July this year after the HC stayed construction.

BMC officials set to lose 50% salary if projects are delayed

Publication: TIMES OF INDIA Date : 22 AUGUST 2019
Mumbai: Municipal officials are set to lose 50% of their salaries if the civic works they are overseeing don’t meet deadlines. Civic chief Praveen Pardeshi has issued a circular to all supervisory executive engineers warning of the 50% salary cut. Contractors will also lose 20% of the amount due to them if works are delayed, the circular states.



Mumbai: Housing societies to get 15% rebate in property tax if it follows waste segregation rules

Publication: THE INDIAN EXPRESS Date : 22 AUGUST 2019
The BMC Standing Committee passed the proposal, according to which, five per cent rebate will be given to a housing society if it segregates its waste and processes wet waste in its premises.

Cidco clears plan for 94,000 low-cost homes in Navi Mumbai

Publication: ET REALTY Date : 22 AUGUST 2019
NAVI MUMBAI: Cidco board on Tuesday approved a Rs 19,000-crore plan to build 94,000 affordable houses/flats. It is probably the most houses to be built as part of PM Narendra Modi’s flagship housing for all by 2022 scheme, introduced on June 1, 2015.

Loans from NBFCs to developers halved in FY19: Report

Publication: ET REALTY Date : 22 AUGUST 2019
NEW DELHI: The liquidity crisis in the NBFC sector was so grave that net loan disbursal by non-banking financial companies (NBFC) and housing financing companies (HFC) to realty developers declined by nearly 50 per cent in 2018-19 on a year-on-year (YoY) basis to an estimated amount of Rs 27,000 crore, a joint report by CII and JLL saud on Wednesday.



Investment in real estate tripled between 2014-18: CII-JLL report

Publication: THE INDIAN EXPRESS Date : 22 AUGUST 2019
A major portion of this investment was reported in metro cities like NCR-Delhi, Mumbai and Bengaluru, which accounted for 74 per cent of the total institutional investments during 2009-18.

Investments in realty sector triple to Rs 1.4 trn from 2014-2018: Report

Publication: BUSINESS STANDARD Date : 22 AUGUST 2019
Investments in the real estate sector tripled to Rs 1.4 lakh crore during 2014-18, mainly backed by institutional investments, a recent survey said.

Indian realty shines as foreign investment rise multifold

Publication: FINANCIAL EXPRESS Date : 22 AUGUST 2019
The increasing share of institutional investments in the Indian real estate sector has been a result of technology upgrades and innovative strategies, making it lucrative for occupiers and investors.


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