L&T, Adani, Naman Developers submit bids to redevelop Motilal Nagar

24 Dec 2021 CW Team

Adani, L&T and Naman Developers have presented proposals to redevelop the largest residential project in Mumbai, Motilal Nagar in Goregaon (west), at Rs 35,000 crore.

Many builders have complained that the bids invited by the state housing authority, MHADA, have been rigged and tailor-made to benefit some developers. The three proposals obtained will be analysed over the coming few days, and a decision will be taken shortly, according to the chief of MHADA’s Mumbai board, Yogesh Mhase.

Two leading developers, Godrej Properties and Bengaluru-based Prestige Group, formally objected and wrote to MHADA regarding a controversial clause in the bid, which makes most builders unqualified for the major agreement. The clause states that only developers with a net worth of not less than Rs 9,000 crore as of March 31, 2021, can be eligible.

The clause in the tender was compulsory as MHADA was only following Central Vigilance Commission policies. According to them, the guidelines mandate that the bidder’s net worth should be at least 30% of the project value.

Godrej Properties claimed in a letter to MHADA that the qualifying factor of Rs 9,000 crore is discriminatory and eliminates other bidders, comprising Godrej.

It will additionally serve as an undue benefit to a handful of entities who may not even have the required on-ground experience to deliver housing, accommodation or rehabilitation, said the letter. Motilal Nagar was constructed in the 1960s as a rehabilitation and resettlement colony for residents displaced from different areas in the city and suburbs.

Image Source

Real Estate

31 Oct 2025

Birla Estates Tops Global GRESB 2025 Rankings

Birla Estates (BEPL), a wholly owned subsidiary of Aditya Birla Real Estate (formerly Century Textiles and Industries Limited), has been recognised as a Sector Leader in the 2025 GRESB Real Estate Assessment, securing top honours across multiple global and regional categories.Birla Estates’ Achievements in GRESB 2025:Global Sector Leader – ResidentialGlobal Sector Leader – Non-Listed ResidentialRegional Sector Leader – Asia – ResidentialRegional Sector Leader – Non-Listed – Asia – ResidentialThese distinctions reaffirm Birla Estates’ exceptional performance in Environmental, ..

Progota India Secures RDSO Clearance for Kavach 4.0

Concord Control Systems, one of India’s leading manufacturers of embedded electronic and critical system solutions, announced that its associate company, Progota India, has received Technical Prototype Clearance from the Research Designs and Standards Organisation (RDSO) for Kavach 4.0, the latest version of Indian Railways’ indigenous Automatic Train Protection (ATP) system.With this clearance, Progota has been formally approved to execute its ongoing trial order from South Central Railway, marking a key milestone in India’s railway modernization journey. The approval also establishes P..

MPS Interactive Systems Completes Full Acquisition of Liberate Group

MPS Interactive Systems (MPSi), a material subsidiary of MPS, has completed the acquisition of the remaining shareholding in the Liberate Group of Companies—comprising Liberate Learning, App-eLearn, and Liberate eLearning.With this transaction, MPSi now holds 100 per cent ownership of all entities within the Liberate Group, making them its wholly owned subsidiaries. The acquisition was executed in line with the valuation methodology defined in the original transaction documents.Commenting on the development, Rahul Arora, Chairman and CEO of MPS, said, “The corporate learning sector continu..