#RealtyNewsRoundup: Uproar As MMRDA Eyes Urbanisation Of 1,070-Sq Km Land On Mumbai Outskirts
Realty News Roundup is PropGuide's selection of the day's top stories from the real estate sector.
The draft regional plan issued by the Mumbai Metropolitan Region Development Authority (MMRDA) has sparked a wave of resentment among local residents of fishing villages and traditional gaothans in Bhayander and Vasai-Virar on the outskirts of Mumbai. The plan envisages urbanisation in no-development zones, hazardous industries in green zone belts and multi-storey buildings around traditional gaothan villages. The total investment is a whopping Rs 1.14 lakh crore for road, rail and infrastructure projects over the next two decades.
Dubai-based realty major Emaar Properties is revamping its project management team following the initiation of demerging its India partnership venture and in a bid to fast track over 50 projects stuck due to uncertainty over the fate of this partnership. Under the separation plan, expected to be concluded by April, Emaar India will get control of most of the 55 ongoing or partially completed projects.
Navi Mumbai Municipal Corporation (NMMC) will now allow residential societies, which have space in their premises, to build stilt or underground parking, to contain the menace of road parking. NMMC is also planning pay-and-park facilities as most housing societies developed by City and Industrial Development Corporation of Maharashtra (CIDCO) are running short of parking space.
The Trichy Corporation has earmarked special spots for dumping construction debris in the city while threatening stringent action against unscrupulous dumping of the same in public places including in and around the city's water bodies. The move was considered after an illegal dumping of waste in public places, including water bodies has caused not only in pollution but is also posing a health hazard.