#RealtyNewsRoundup: Mumbai Development Plan To Take Off With Rs 2,096 Crore

The Brihanmumbai Municipal Corporation will need Rs 91,080 crore in the next 20 years for executing the revised draft Development Plan 2034. The municipal body has allocated Rs 2,096 crore for works such as construction and widening of roads. Under the earlier plan, the BMC needed an estimated Rs.6.5 lakh crore for execution of work.

The Central Peripheral Road (CPR) project will be handed over to the National Highways Authority of India (NHAI), with the Haryana Urban Development Authority failing to construct the 3.2-km stretch. The HUDA has already acquired 102 acres of land for Rs 700 crore around six months ago. NHAI officials told media that the CPR would be constructed along with the remaining portion of the Dwarka Expressway

The Bihar government is all set to submit the proposals to the Centre for the Smart City contest. Based on the de-congestion theme, Patna's smart city proposal would need Rs 2,498 crore for execution. Apart from Patna, Muzaffarpur and Biharsharif also presented their proposals in a high-level meeting chaired by chief secretary Anjani Kumar Singh.

Kolkata-based developer Siddha is now setting foot in financial capital Mumbai, and is looking at developing around an eight-lakh-sqft area for slum rehabilitation projects. To be developed across Kandivali West and Wadala, these projects would rehabilitate about 2,000 families currently living in several slums of Mumbai.