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Prestige Group inks DA to redevelop Worli project
Prestige Group has signed a development agreement to redevelop a prime property in Mumbai for INR 578.37 crore, providing 1,025 sq ft homes to 192 families and paying a hardship compensation of INR 1 lakh per month to each. The agreement also includes payment of a corpus fund of INR 73.17 crore and additional corpus funds of INR 240.86 crore.
Updated on Apr 21, 2023 02:01 AM IST
Centre derails two multi-crore rail projects under MUTP 3A
The Central government has cancelled the proposed Chhatrapati Shivaji Maharaj Terminus-Panvel elevated fast corridor and the Virar-Vasai-Panvel suburban rail line, as well as reducing the number of air-conditioned local trains from 210 to 191. These projects were part of the Mumbai Urban Transport Project 3A, and were set to cost more than INR21,000 crore ($3.15bn). The decision has been criticised as it comes as infrastructure projects in the region are expanding, including the Mumbai Trans Harbour Link, new airport and metro lines.
Updated on Apr 19, 2023 12:42 AM IST
Shashank Rao, Mumbai