Kotak Mahindra Bank: RLLR: 0.75 | From: 8.7% - To: 10.5%
Union Bank of India: RLLR: 0.5 | From: 8.5% - To: 10%
Bank of Baroda: RLLR: 0.5 | From: 9.25% - To: 11%
HDFC Bank: RLLR: 0.75 | From: 8.5% - To: 8.8%

Infrastructure News

Thane to undergo major transformation with 34 new infrastructure projects

Thane is set for a transformative decade with 34 infrastructure projects worth INR 3,96,636.75 crore, including metro lines, bullet trains, expressways, and tunnels, significantly enhancing the city's development. Chief Minister Eknath Shinde, who has long advocated for Thane's infrastructure improvements, has been instrumental in fast-tracking these projects. The developments aim to reduce traffic congestion and improve connectivity, positioning Thane as a key suburb in the Mumbai Metropolitan Region (MMR). The real estate sector is already seeing a boost as homebuyers are drawn to emerging areas, while the projects are expected to drive economic growth, job creation, and make Thane an attractive hub for businesses and residents alike.Read more

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Ulhasnagar civic chief orders demolition of 16-storey building for encroaching on DP Road

Ulhasnagar's civic chief, Vikas Dhakne, has ordered the demolition of a 16-storey building named Jhalak due to its significant encroachment on a designated Development Plan (DP) road. The structure, which was to house 65 residential flats and four commercial shops, violated urban planning regulations. Ganesh Shimpi, assistant municipal commissioner, confirmed that preparations, including police security, are underway to execute the demolition within a week. Despite earlier warnings from former UMC commissioner Aziz Sheikh, the developer, Naresh Wadhwani, failed to rectify the encroachment, which covers 80% of the building. The decision, while praised by activists for upholding planning standards, has shocked buyers who now face the loss of their investments.Read more

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Maharashtra to regularise 27,000 illegal constructions in Ulhasnagar

In anticipation of the Lok Sabha elections, the Maharashtra government opted to lower penalties for legalising unauthorised structures in Ulhasnagar. Despite this, revenue officials faced confusion regarding the issuance of property cards post-regularisation. To resolve this, the government introduced a standard format for local Special Development Officers to follow. This initiative aims to benefit over 500,000 residents by regularising more than 27,000 properties deemed illegal. The streamlined process is vital for urban compliance and development in Ulhasnagar.Read more

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Mastercard launches largest global tech hub in Pune to drive innovation and growth

Mastercard has announced the inauguration of a cutting-edge Tech Hub in Pune, India, marking the latest addition to the company's global technology hub network. This new facility, situated in the Bluegrass Business Park, will house over 6,000 technologists and engineers, making it Mastercard's largest workforce in a single city worldwide. Aligning with India's "Viksit Bharat" vision, the Pune Tech Hub will focus on tackling complex technological challenges, ensuring secure, seamless, and efficient payments globally, while also supporting the development of innovative solutions for the domestic market, including financial inclusion initiatives and Aadhaar-based services.Read more

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Citizens raise alarm over restoration work at Mumbai's historic Bandra Fort

Over 40 citizens have voiced concerns to the Maharashtra Directorate of Archaeology and Brihanmumbai Municipal Corporation (BMC) over the restoration of Bandra Fort, claiming that the work undermines the 17th-century fort's historical integrity. Originally constructed by the Portuguese at Land's End, Bandra, the Grade-I heritage site was recently covered in cream-coloured plaster, which many residents see as damaging. The letter, authored by activist Zoru Bhathena, criticizes changes, including the removal of the heritage arch and application of lime plaster, which allegedly contravene heritage laws. The state Archaeology Department is investigating, potentially setting a precedent for future heritage restorations.Read more

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BMC's proposal for higher FSI at Mahalaxmi Race Course rejected by State Government

The Urban Development Department announced that Regulation 13(10) will not be included in the Development Control and Promotion Regulations (DCPR) 2034, affecting the redevelopment of Mumbai's Mahalaxmi Race Course. The Brihanmumbai Municipal Corporation (BMC) had proposed a 1.33 Floor Space Index (FSI) for the club, gymkhana, and stables on the 58.3-acre site, envisioning facilities like sports amenities, a clubhouse, and a veterinary hospital. However, the state government approved only an FSI of 0.3 for the 32-acre club area and maintained the existing built-up area for the 26.3-acre stables. The decision aligns with environmental priorities and heritage conservation, emphasizing sustainable development and the enhancement of public spaces within the Mahalaxmi Race Course area.Read more

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Karnataka to launch Cauvery Stage VI Project to meet Bengaluru's water needs

Karnataka Chief Minister Siddaramaiah announced the upcoming Cauvery Stage VI project, designed to meet Bengaluru's rising water needs, following the launch of the Cauvery Stage V project at T.K. Halli. Stage V adds 775 million liters daily (MLD) to the city's supply, costing INR 4,600 crore, benefiting 110 newly incorporated villages. The planned Stage VI aims to add 500 MLD, backed by an additional 6,000 million cubic feet (TMC) of water, with a budget of INR 5,200 crore. Additionally, nine new sewage treatment plants (STPs) with a 500 MLD capacity are planned, costing INR 2,000 crore, supporting sustainable water management for Bengaluru's future growth.Read more

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Sabarmati Riverfront Development Corporation extends RFP deadline and relaxes eligibility criteria for prime plots

The Sabarmati Riverfront Development Corporation Ltd (SRFDCL) has revised its request for proposals (RFP) for the sale of development rights for two prime riverfront plots, extending the submission deadline from 15 October to 22 October. Key changes include a reduction in the financial eligibility criteria, lowering the required average annual turnover from INR 284 crore to INR 170 crore, and allowing residential project experience to qualify bidders. These adjustments aim to attract a broader pool of participants. The auction on 23 October will be a critical milestone in transforming the Sabarmati Riverfront into a dynamic urban space.Read more

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Pune's judicial facilities transition begins; Balasaheb Deoras honoured with subway naming

Officials in Pune announced that the possession of new facilities will be handed over gradually in a phased manner, featuring world-class infrastructure including spacious courtrooms and amenities for staff and litigants. In a recent cabinet meeting, the naming of the subway and flyover on the Katraj-Kondhwa stretch of national highway in Pune after RSS sarsanghchalak Balasaheb Deoras was approved. This proposal was made by the Pune Municipal Corporation at the request of the Pune Medical Services and Research Foundation, recognising Balasaheb Deoras as the third sarsanghchalak of the Rashtriya Swayamsevak Sangh.Read more

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Mulund East, Mumbai residents push for AIIMS, bus terminus, and cultural hub on 60-acre vacant land

In Mulund East, Mumbai, the 60-acre vacant land from a former octroi naka and garbage dump has inspired local residents of Hari Om Nagar to advocate for new infrastructure projects. The community, led by the Hari Om Nagar Apex Body Federation (HONAFE), is pushing for an AIIMS hospital, a bus terminus, and a cultural and sports center. With over 2,000 signatures gathered, they aim to enhance local services, improve healthcare access, and ease transportation challenges. Despite existing government allocations, the community plans to present their proposals to authorities, hoping to bring meaningful development for 80,000 to 100,000 residents.Read more

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