#RealtyNewsRoundup: Bombay HC Quashes Coastal Road Project’s Green Clearance
While stating that clearance were granted to the Rs 14,000-crore project without proper study, the Bombay High Court (HC) on July 16 said the Brihanmumbai Municipal Corporation cannot proceed with the 29.2-km coastal road project. The proposed project will connect Mumbai’s Marine Drive area in south with suburban Borivali in north.
The Delhi government on July 16 gave an approval to the National Highways Authority of India to start work on the 11-km corridor of the Dwarka Expressway. With this, the construction work on this much-delayed stretch of the Dwarka Expressway that lies in Delhi will start next month. The 29.1-km Dwarka Expressway will connect Shiv Murti at Mahipalpur to a point near Kherki Daula toll plaza, and further connect the Southern Peripheral Road with Delhi-Gurgaon Expressway through an interchange.
The Ghaziabad Development Authority (GDA) on July 16 said that map layouts of all the housing societies that did not install rainwater harvesting system or make the installed ones functional would be cancelled in the next 10 days. The authority is in the process of serving notice to resident welfare associations or developers of 287 such housing societies in the city.
Public lender United Bank of India has reduced its marginal cost of funds-based lending rates across tenures by five basis points, bringing it down to 8.70 per cent. The move is likely to reduce the cost of borrowing for homebuyers.
Source: Media reports