Mumbai Update II - project news from Mumbai ‎ - Page 9 - SkyscraperCity
 

forums map | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > Asian Forums > India > Metropolitan Projects > Mumbai

Mumbai Project news from the Mumbai Metropolitan Region - Mumbai, Navi Mumbai, Thane
» skyscrapers and supertalls | highrises


Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old February 9th, 2007, 04:58 AM   #161
Jai
Registered User
 
Join Date: Jan 2003
Posts: 3,703
Likes (Received): 79

Speaking of video reports, NDTV has this on Lodha Bellessimo: High-end property in Mumbai
Aired on: [October 1, 2006]

It features an awesome model of the project by Lodha Group:













As well as a guided walkthrough through these ultra expensive flats
Jai no está en línea   Reply With Quote
Sponsored Links
Advertisement
 
Old February 9th, 2007, 06:28 AM   #162
Jai
Registered User
 
Join Date: Jan 2003
Posts: 3,703
Likes (Received): 79

Real shift for real estate
Quote:
NTC sale may change property dynamics in South Mumbai
Madhurima Nandy
Mumbai



From HT Epaper
9 Jan 2007

BEFORE PUTTING its sprawling 50,000 square feet Ballard Estate office for sale, National Textile Corporation (NTC) will do the valuation of the property to set the reserved price before the property is sold.

“Once the valuation is done, we will invite tenders immediately We will also be serving no . tices to tenants to vacate the premises,” said NTC Managing Director O.P. Agrawal.

Senior NTC officials, however, said in case the tenants do not move out, the company would go ahead and sell the building along with its occupants.

This is not new to the corporation, which has on earlier occasions followed a similar procedure during the auction of Morarka Bungalow on Nepean Sea Road to Satellite Group along with the existing tenants.

Meanwhile, 50,000 square feet in a supply-starved area is surely good news. Rajesh Pandit, head of western region of real estate consultancy CB Richard Ellis, said though it would definitely add to the supply dynamics of south Mumbai’s posh commercial district, it remains to be seen what the profile of the companies would be who would go for the property.

Going by the index of transactions in Ballard Estate, south Mumbai-based property consultant S.G. Maheshwari said the number of ownership transactions were few. “There is hardly one transaction every year and the area is primarily occupied by individual company-owned buildings like Bombay Dyeing, Sarabhai Chemicals, Hindustan Construction Company and L&T,” he said.

The 15, NM Marg address was initially called Indu House when it was occupied by the Indu Group of Mills. Later, with the nationalisation of textile mills, NTC took over the office and had both its south and north Maharashtra offices there. During the late 1970s, NTC’s south Maharashtra office shifted to Chinchpokli and occupied a portion of the Apollo Mills.

[email protected]
Jai no está en línea   Reply With Quote
Old February 9th, 2007, 04:38 PM   #163
deddog
Registered User
 
Join Date: Oct 2006
Posts: 30
Likes (Received): 0

Planet Godrej

Hi Guys,
Sorry if this is old news, but i've seen various estimates for Planet Godrej, in these threads.

Turns out that it is 46 floors.

I confirmed it, because my sister is purchasing a flat there :-)

Just thought i'd share..
deddog no está en línea   Reply With Quote
Old February 10th, 2007, 03:49 AM   #164
Jai
Registered User
 
Join Date: Jan 2003
Posts: 3,703
Likes (Received): 79

Looks like the rapid skyscraperization of Worli-Parel is going to continue!

Especially with the sale of NTC's largest mill of 18 acres, there's potential for some really tall towers



Saturday story GOLD RUSH - Four mills get ‘for sale’ tag
Quote:
TOI Epaper
09 Jan 2007

Madhurima Nandy
Mumbai



THE STATE-RUN National Textile Corporation will soon put four more mills in Worli and Parel up for sale, freeing up 40 acres for real estate development in this land-starved city.

This area is twice that of the Oval Maidan and thrice that of Cooperage, both among the few remaining green spaces in the island city.

The textile company has already raised around Rs 2,000 crore from its first phase of sales, in which it had auctioned five mills after the Supreme Court lifted the legal impediment to the sale of Mumbai’s mill lands in March 2005.

Of the four mills to be sold in the second phase, the 18-acre Madhusudan Mill near Doordarshan in Worli is the corporation’s largest mill in Mumbai. The other three are Poddar Processors and Bharat Textile Mill, also in Worli, and Finlay Mill in Parel.

“We are awaiting the final nod from the state government,” said O.P. Agarwal, the corporation’s managing director told HT. “After that we invite tenders,” he said. He added that the company had decided to sell its remaining mills in phases.

The sale of textile mills, which played a central role in Mumbai’s industrialisation, remains a contentious issue because the 600 acres of mill land was initially meant for public amenities and low-cost housing.

The company last put a mill on the block two years ago, selling Kohinoor and Elphinstone mills. The state government took its time to clear the recent proposal, said a company official.
Jai no está en línea   Reply With Quote
Old February 10th, 2007, 04:40 AM   #165
Jai
Registered User
 
Join Date: Jan 2003
Posts: 3,703
Likes (Received): 79

Mill auction to push prices through roof
Quote:
TOI Epaper
09 Jan 2007

Madhurima Nandy
Mumbai


(Above) Construction work underway 24/7 at Jupiter Mills SOUMITRA GHOSH/HT

REAL ESTATE prices in central Mumbai could rise because developers are expected to bid higher-than-market rates for the National Textile Corporation’s proposed auction of four mills in Worli and Parel, real estate consultants said.

The sale will free up 40 acres of land to private developers in this land-starved city
, an area that is twice that of the Oval Maidan and thrice that of the Cooperage.

The textile company plans to sell the 18-acre Madhusudan Mill, its largest mill in Mumbai, Poddar Processors and Bharat Textile Mill, all three in Worli, and Finlay Mill in Parel.

The three mills in Worli could fetch more than the going rate of Rs 20,000 per sq ft and the one in Parel more than Rs 12,000 per sq ft, the consultants said.

“Prices will be as high if not more (than existing rates), with more developers coming in from out of Mumbai this time,” said Joy Gopal Sanyal, vice president at Trammel Crow Meghraj, a property consultant. He said these new developers might bid jointly for these bids with real estate funds.

Some consultants echoed a long-standing criticism of the government’s policy for mill lands, by pointing out that the city’s infrastructure could not bear the burden of further private development.

“There needs to be some method in the madness,” said Pranay Vakil, chairman of Knight Frank India. “There needs to be some regulation.” Real estate prices in Mumbai, which are among the highest in the world, had begun to rise at the end of 2004. They got a further boost when the National Textile Corporation auctioned its first set of five mills, Sanyal said.

Prices soared even over the period in which the company had sold these mills. It had sold Mumbai Textile Mill in mid-2005 for Rs 7,000 per sq ft. A month later, it got Rs 15,000 per sq ft for Kohinoor Mill.


NTC MILLS SOLD
Jupiter Mill, Lower Parel: 14 acres
Sold to: Indiabulls
Plans: Three towers office space

Mumbai Textile Mill, Lower Parel: 17.5 acres
Sold to: Jwala Realty
Plans: Biggest shopping mall

Apollo Mill, Chinchpokli
Sold to: Lodha Group
Plans: Lodha Bellissimo, an upmarket residential project

Kohinoor Mill No 3, Dadar: 4.9 acres
Sold to: Raj Thackeray-Unmesh Joshi partnered Kohinoor CTNL
Plans: Shopping mall coming up

Elphinstone Mill, Senapati Bapat Marg: 7.8 acres
Sold to: Indiabulls
Plans: Plans not yet known

NTC also plans to develop on its own:
India United Mill No 6
Where: Prabhadevi
Plans: India International Trade Tower, a 72-storeyed tower in the 11.96 acre mill.

Remaining NTC mills some of which will be sold and some will be functional:
Kohinoor Mill No 1 and India United Mill No 5, No 2, Dadar Kalachowkie Digvijay Mill, Lalbaug Tata Mills, Parel Gold Mohur Mill, Dadar New City, Kalachowkie India United Mill No 1, Poddar Mill, NM Joshi Lalbaug Marg


(Above) Madhusudan Mill in Worli

NTC MILLS TO BE SOLD
New Hind Mill – Mhada
Size: 8.33 acres
Where: Byculla

India United Mill No 4 – Mhada
Size: 7.79 acres
Where: Kalachowkie

Jam Mill – Mhada
Size: 7.99 acres
Where: Lalbaug

Sitaram Mills: MCGM
Size: 8.43 acres
Where: NM Joshi Marg

India United Mill No 2: MCGM
Size: 10.64 acres
Where: Kalachowkie

India United Mill No 3: MCGM
Size: 5.40 acres
Where: Kalachowkie
Jai no está en línea   Reply With Quote
Old February 10th, 2007, 05:26 AM   #166
Suncity
By the ocean
 
Join Date: Jun 2004
Posts: 27,342
Likes (Received): 16186

Orchard Residency
LBS Marg, Ghatkopar (W)
Joint venture Runwal Group (Mumbai) and Capitaland (Singapore)
10 blocks of 15 storeys each

Suncity no está en línea   Reply With Quote
Old February 14th, 2007, 12:03 AM   #167
Suncity
By the ocean
 
Join Date: Jun 2004
Posts: 27,342
Likes (Received): 16186

What's this u/c?

Photo copyright hugohugo

Suncity no está en línea   Reply With Quote
Old February 14th, 2007, 02:49 AM   #168
Jai
Registered User
 
Join Date: Jan 2003
Posts: 3,703
Likes (Received): 79

More confirmation that the ultimate size of the IITT is to be 72 stories, this time from the horse's mouth.

Mumbai mill auction may push up real estate prices
Quote:
eb 13, 2007 - 8:47:12 AM

By Probir Pramanik, IANS, [RxPG] Mumbai, Feb 13 - The state-run National Textile Corporation - has decided to put four more mills in central Mumbai up for auction, a move that could push real estate prices through the roof.

The NTC's proposed auction of four mills in Worli and Parel could raise real estate prices in central Mumbai because developers are expected to bid 'higher than-market' rate for the around 40 acres of prime land, freeing it for private developers in this 'land-starved' metropolis.

The state-run textile company has already raised around Rs.20 billion from its first phase of sales from the auction of five mills after the Supreme Court lifted the legal obstacle on the sale of Mumbai mill land in March 2005.

It now plans to bring under the hammer the 18-acre Madhusudan Mills, in Worli - the largest in Mumbai. The other mills are Poddar Processors and Bharat Textile Mill, also in Worli, and Finlay Mill in Parel.

The textile company is awaiting the government's nod to invite bids from private developers.

'Once we get the final nod from the state government, we will invite tenders,' NTC managing director O.P. Agarwal told IANS.

Although Agarwal was not forthcoming on the amount the corporation is expecting, property consultants are more than willing to speculate.

'Prices will be as high as, if not higher than, existing rates, with builders from outside Mumbai coming in for bids this time,' said Gopal Sanyal, a property consultant.

'The three mills in Worli could fetch more than the going rate of Rs.20,000 per sq ft and the ones in Parel more than Rs.12,000 per sq ft.'

Agarwal, however, admitted that prices have soared since the company last sold its mills.

'Prices soared even over the period we sold our mills in the first phase. While we got Rs.7,000 per sq ft for the sale of the 14-acre Mumbai Mills in Lower Parel -, a months later we got Rs.15,000 per sq ft for the sale of the 4.9-acre-Kohinoor Mills in Dadar, both in central Mumbai,' the NTC top official said.

The state-run textile company also plans to cash in on the booming real estate and plans to develop the land on its own.

'Plans are on to develop real estate on our own. We plan to construct a 72-storeyed India International Trade Tower in the 11.96-acre India United Mill No. 6 at Pravhadevi,' Agarwal disclosed.


Kohinoor Mills was sold to Navi Nirman Sena chief Raj Thackeray-Umesh Joshi partnered Kohinoor Constructions, which is building a shopping mall at the site.

Real estate prices in Mumbai, which are among the highest in the world, began to rise in 2004 and got a further boost when NTC auctioned its first set of five mills in 2005.

But environmental watchers are not amused with the boom.

'The area is twice that of the Oval Maidan at Churchgate and thrice that of Cooperage, both among the only few green spaces remaining in the island city,' said Sonia Fernandez of Bombay First, a watchdog body.

'The state government's policy on the mill land is lopsided. The city's infrastructure can no longer bear the burden of private development. There needs to be some regulation in this madness,' said Sonia.

'The mills of Mumbai have played a major role in the industrialisation of Maharashtra. But the sale of these mill lands remains a contentious issue because some of the 600 acre of mill land was initially meant for public amenities and low-cost housing.'

Last edited by Jai; February 14th, 2007 at 02:57 AM.
Jai no está en línea   Reply With Quote
Old February 14th, 2007, 06:45 AM   #169
Bombay Boy
Registered User
 
Join Date: May 2005
Posts: 4,612
Likes (Received): 12

Rs 451 cr bonanza for Bandra soc

Nauzer Bharucha | TNN

Mumbai: It’s just a three-minute trot once you step out of Bandra railway station on the west and walk towards the talao. On the left is Nutan Nagar co-operative housing society, a cluster of low-rise residential buildings constructed some time between 1946-’47.
Most visitors will not even notice it. However, middle-income residents and shopowners from this society are on the cusp of a mega real estate deal that is expected to be sewn up with a prominent Mumbaibased builder in the next few days—that is, if all goes as planned.
Almost six months after they set out to search for a builder who would offer them the best deal to move out of their small- to mid-sized flats and ground floor shops, the Nutan Nagarites have hit pay dirt—the builder has offered them a whopping Rs 451 crore.
In a price unheard of so far in the city, each shopowner in the society is expected to be paid at the rate of Rs 95,000 per square foot while those owning flats will get Rs 38,000 a sq ft to move out permanently. “Such unrealistic rates will further screw up the already overheated property market,’’ warned a real estate expert. Already lease rentals for shops on Bandra’s Linking Road have touched Rs 1,500 a sq ft a month.
“We stuck to our price of Rs 451 crore. It was a case of take it or leave it. Someone (name not revealed) accepted it and we are happy,’’ a resident said. Nutan Nagar society comprises seven buildings with 275 flats and 37 shops. The flats range from a single-room tenement measuring 120 sq ft to two-bedroom flats measuring 600 sq ft and the rest over 1,000 to 1,550 sq ft in size.
A person owning a 600 sq ft flat thus stands to get Rs 2.28 crore while those occupying a 1,550 sq ft flat will receive Rs 5.89 crore. Shopowners who occupy space between 160 sq ft and 185 sq ft will get between Rs 1.52 crore to Rs 1.75 crore at the rate of Rs 95,000 a square foot.
The developer, whose identity is not known, has plans to set up a retail mall because of the plot’s location which touches the main S V Road.
“We are not selling the land nor does the Nutan Nagar society have anything to do with this transaction. A majority of the members came together and formed the building proposal committee. Each flat owner and shopkeeper is individually selling his property to the builder and will receive separate cheques for vacating,’’ a Nutan Nagar resident told TOI on Tuesday.

Mega complex at Seawoods rly stn

In what is being billed as India’s largest commercial complex around a railway station, Cidco plans to develop nearly 25 lakh sq feet of land around the Seawoods Darave station on the Harbour line and, in the process, get Rs 750 crore from the winning bidder. P 5

85% residents have agreed to pack up


Mumbai: Residents of the Nutan Nagar cooperative housing society in Bandra west are poised to reap rich dividends on their property with an unidentified builder offering them Rs 451 crore to vacate their shops and flats.
The entire amount of Rs 451 crore is to be put in an escrow account by the builder in the next few days. Of the 312 members of the Nutan Nagar society, as many as 85% of them have given their consent to move out. Once the agreement is signed, residents will have to shift out by end of May.
“Most of us will be looking out for flats in the western suburbs, between Andheri and Borivali. A few want to find a place in Bandra itself,’’ said a resident, not wishing to be identified.
Since August last, the residents must have interacted with as many as 40 developers, of which about a dozen turned out to be serious contenders. Among them was the Delhi-based DLF, Navi Mumbai-based APA Developers (which had earlier bid Rs 180 crore for the Bharatiya Bhavan society in Khar) and Siroya FM Constructions.
Although the deal is 99% through, residents are apprehensive about the appeal filed in the supreme court against the use of transfer of development rights (TDR). Nutan Nagar falls in the corridor along the railway tracks. Although, the Bombay high court had rejected a petition, which sought a ban on TDR, the apex court on Monday admitted an appeal by the petitioners. TDR gives additional construction rights to a builder in lieu of surrendering land elsewhere for public amenities or as compensation for rehabilitating a slum enclave.

--------------------------------------------------------------------------

this sort of thing is happening all over bombay, the government is not going to clear slums and old buildings. private enterprise will have to do it
Bombay Boy no está en línea   Reply With Quote
Old February 14th, 2007, 03:33 PM   #170
Cov Boy
Cov Boy
 
Cov Boy's Avatar
 
Join Date: Jun 2006
Location: Coventry UK
Posts: 4,347
Likes (Received): 62

Yeah what is that building rising next to the Rennaissance Hotel in Powai?

Looks interesting.

Can anyone confirm?
Cov Boy no está en línea   Reply With Quote
Old February 14th, 2007, 06:34 PM   #171
Suncity
By the ocean
 
Join Date: Jun 2004
Posts: 27,342
Likes (Received): 16186

Quote:
Originally Posted by Cov Boy View Post
Yeah what is that building rising next to the Rennaissance Hotel in Powai?

Looks interesting.

Can anyone confirm?
It's probably the Renaissance Hotel Phase II (300 Rooms).
Suncity no está en línea   Reply With Quote
Old February 16th, 2007, 10:22 PM   #172
Cov Boy
Cov Boy
 
Cov Boy's Avatar
 
Join Date: Jun 2006
Location: Coventry UK
Posts: 4,347
Likes (Received): 62

WOW! Thanks Sun.

Might as well cash in on the hotel boom!
Cov Boy no está en línea   Reply With Quote
Old February 17th, 2007, 07:02 AM   #173
Suncity
By the ocean
 
Join Date: Jun 2004
Posts: 27,342
Likes (Received): 16186

Kalpataru Towers, Kandivali (E)
http://www.kalpataru.com/projects/kalpataru_towers.html

Suncity no está en línea   Reply With Quote
Old February 17th, 2007, 12:28 PM   #174
Hindustani
Registered User
 
Join Date: Jul 2004
Posts: 4,394
Likes (Received): 668

Sun

nice one. looks like 31 floors. Bombay should make this a norm.
Hindustani no está en línea   Reply With Quote
Old February 18th, 2007, 01:46 AM   #175
Jai
Registered User
 
Join Date: Jan 2003
Posts: 3,703
Likes (Received): 79

Firstly,

Quote:
Originally Posted by cptracker View Post
http://www.ndtv.com/morenews/showmor...onal&id=100541

Mumbai's skyscrapers add to civic woes
Anjali Doshi
Wednesday, February 7, 2007 (Mumbai):

Promoted by Vikas Kasliwal of Shree Ram Mills, Palais Royale is all set to be one of Mumbai's tallest and most luxurious skyscrapers.

The 700-feet high building, to be ready in 2009, boasts of indoor heated swimming pools, ample parking space and world-class fire safety norms.
Here is the link to the video report of this story. It has a quick peek at both the construction site (construction seems to be underway) as well as a quck pan on the elevation.





It took some time to splice the screencaps together. I think it is in correct proportion.


Vikas Kasliwal of Shree Ram Mills also said this in the video report:
Quote:
"It doesn't have too many stories, but since each storey has a very good height we've gone to very good heights. It will probably end up being a fairly tall building. We're not aiming to be the tallest building, but I think we may just end up being one of the tallest."
The newsreader also said:
Quote:
But the title city's tallest is hotly contested. In the next two years three projects will vie for that honor.

However, they forgot to mention Oberoi Skyz in the contest, which isn't surprising, seeing as Oberoi Construction seems to be trying to draw as little attention to it as possible.

I can't find the builder, architect or promoter's website. Seeing as this is going to be an 'invitation only' project, just like also u/c Oberoi Skyz, and Reliance Tower, we're probably not going to see any good quality renderings outside brief newsclips until its nearly finished.


---------==--=--==---------

Also, remember that Raheja Excelsior project at Haji Ali?


Looks like it, too, went a great redesign. This one hasn't hit the internet yet, but is taken from a recent photograph of a hoarding in South Mumbai.



Counting the floors, I'm going to confirm my estimation of the previous render saying at 45 stories tall. We'll have to wait for a larger rendering to come out to be more certain.



Cheers,
Jai
Jai no está en línea   Reply With Quote
Old February 18th, 2007, 09:22 AM   #176
Jai
Registered User
 
Join Date: Jan 2003
Posts: 3,703
Likes (Received): 79

Regarding Sumer Burhani Park,


Here's a view that I don't think was posted before:


Seeing as the 2nd pic is older, it seems that 4-spired, er, thingy became the one-spired convention center seen in the top rendering
Jai no está en línea   Reply With Quote
Old February 18th, 2007, 02:57 PM   #177
Cov Boy
Cov Boy
 
Cov Boy's Avatar
 
Join Date: Jun 2006
Location: Coventry UK
Posts: 4,347
Likes (Received): 62

All these projects are great! I like the re-design to Haj Ali although I do like the first design too. Looks something out of Japan.
Cov Boy no está en línea   Reply With Quote
Old February 19th, 2007, 09:43 PM   #178
Hindustani
Registered User
 
Join Date: Jul 2004
Posts: 4,394
Likes (Received): 668

Sumer-Triniry Tower / Bombay

Hindustani no está en línea   Reply With Quote
Old February 19th, 2007, 10:35 PM   #179
Jai
Registered User
 
Join Date: Jan 2003
Posts: 3,703
Likes (Received): 79

New clause on mill land FSI raises eyebrows
Quote:
TIMES NEWS NETWORK

From TOI Epaper, 19 Feb 07



Mumbai: A new clause is to be added to the city’s development rules allowing the state housing board 200% more floor space index (FSI) in the mill land area. But the proposal is being met with skepticism and is being seen as yet another move to help builders.

To be termed 33(18), the clause will allow the additional FSI to the Maharashtra Housing Area Development Authority (Mhada) “to create more housing for mill workers and transit camps for residents of old and dilapidated buildings’’. The state government has directed the BMC to invite objections and suggestions within the next 60 days before implementing the scheme.

Pravin Ghag, secretary, Girni Kamgaar Sangharsh Samiti, criticised the proposal saying it would not really help the mill workers. He said the state had issued a government resolution (GR) which said that all mill workers who were employed in 2000 would be eligible for housing. “There were 80,000 mill workers at that time and if this scheme is implemented then only 15,000 houses will be created. It will lead to fights within the mill workers’ community,’’ Ghag said, adding that the government should not include transit camps in the scheme.

BJP corporator Ashish Shelar said the new clause would create more FSI further burdening the creaking infrastructure.

“The draft housing policy speaks of cluster redevelopment since individual redevelopment is not good for urban renewal. If this is the case, then where is the need for building transit camps for residents of old and dilapidated buildings? If an entire block is taken up for redevelopment, residents can be adjusted in transit camps in the same area,’’ he said. This is at present being done in case of the Bombay City Improvement Trust chawls at Agripada.

While the state government claims the increased FSI is being given following requests by various associations of mill workers, the number of mill workers in the city remains unknown. “The government does not seem to have done a study to find the actual numbers,’’ said Shelar.

He pointed out that the state government had stayed its resolution to allow an additional 0.5 FSI for tenants living on the mill land and who must be rehabilitated before the builder can commercially exploit the land. There are 6,000 tenants but so far the government has not moved to help them.
Jai no está en línea   Reply With Quote
Old February 19th, 2007, 10:54 PM   #180
pding
Registered User
 
Join Date: Oct 2005
Posts: 2,121
Likes (Received): 0

http://www.business-standard.com/com...eft=1&leftnm=1


RIL offers hefty price for farmland

Reliance Industries, India’s biggest company by market value, is offering Rs 37.5 lakh a hectare, over 10 times the ready-reckoner price, to acquire 10,000 hectare of land from farmers for its special economic zone on the outskirts of Mumbai.

By a rough estimate, the company will have to pay Rs 3,750 crore for land acquisition .

The company is offering Rs 25 lakh a hectare for land under paddy cultivation. On top of this, the firm is offering Rs 12.5 lakh per hectare if a farmer does not opt for the land offered by the company at an adjacent site. Reliance has earmarked 12.5 per cent (1,250 hectare) of the total land to be acquired for farmers.

The company will also offer free vocational and technical education to a member of each of the 17,000 families whose land is acquired.

During the training period, the minimum agricultural wage of Rs 60 a day will be paid as stipend. If a landowner does not want the training, he is entitled to Rs 3 lakh as one-time compensation.

The ready-reckoner rate is the one taken to compute stamp duty in real estate transactions. Builders complain that it is often higher than the rate at which transactions are struck.

“We have submitted our compensation package to the state government. But if it asks us to give even higher compensation to farmers, we will be bound by that,” said Dilip Chaware, the spokesperson for the company.

Unveiling its plans today, Reliance Industries said it would invest Rs 31,000 crore over 10-15 years in its SEZ project, which would come up as two adjacent zones on more than 14,000 hectares. The company would spend Rs 16,000 crore in the development of infrastructure.

Although we call it a special economic zone, it is going to be a city,” Chaware told reporters. The entire project combines two adjacent zones in Mumbai and Navi Mumbai. “The project will be floated by companies that are a part of the Reliance Group.”

The group, which is setting up another SEZ at Navi Mumbai, has already been sanctioned 1,600 hectare of the 4,000 hectare needed.

_____________________________________________________________________________________________




i love this: successive gov'ts have failed to address Mumbai's problems and modernise it. now, hell with gov'ts. private firms have the muscle to give Mumbai a complete make-over.

i like how Reliance is doing everything it can to prevent another Singur by Patkar. they are spending around $800 million just for rehabing the farmers.

also, what are their plans for the 4000 hectare Navy Mumbai SEZ??? i kinda missed it.
pding no está en línea   Reply With Quote
Sponsored Links
Advertisement
 


Reply

Tags
mumbai

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Mumbai Update - project news from Mumbai Suncity Mumbai 2286 March 9th, 2007 08:33 AM


All times are GMT +2. The time now is 05:48 AM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2019, vBulletin Solutions Inc.
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us