Land near Kora Kendra in Borivali sold for Rs 5.39 Bn

16 Apr 2025 CW Team

In a significant real estate transaction, the Mumbai Khadi & Village Industries Association (MKVIA) has sold four land parcels adjoining the iconic Kora Kendra grounds in Borivali West to Rishabraj Estate Developers for a total consideration of Rs 5.39 billion.

The cumulative area of the plots measures 3.84 acres—approximately 8,977 square feet. Situated in one of Mumbai’s most densely developed suburbs, where vacant land is scarce and redevelopment is the prevailing trend, the sale has made headlines for its steep per-square-foot rate of ?6,00,695.

MKVIA, a government body that promotes khadi and village industries, owns multiple real estate assets across Mumbai, in addition to its retail outlets. The Kora Kendra grounds are well known for hosting major events such as Navratri dandiya nights led by Falguni Pathak and elaborate wedding celebrations, and have historically served as a reliable revenue stream for the association through leasing.

As per documents sourced via real estate analytics firm CRE Matrix, the payment for the land will be disbursed in nine instalments. The first tranche of ?52.25 crore has already been paid, with the remaining amount scheduled to be settled over the next four years.

Infrastructure Transport

17 Sep 2025

Adani wins Kedarnath ropeway project to cut trek to 36 minutes

Adani Enterprises Ltd (AEL) has secured the contract to build a 12.9-km ropeway connecting Sonprayag with Kedarnath, a project expected to transform the pilgrimage experience. Awarded by National Highways Logistics Management Ltd (NHLML), the project will be executed under the National Ropeways Development Programme – Parvatmala Pariyojana.Currently, pilgrims undertake a gruelling nine-hour trek to Kedarnath. The ropeway will reduce this journey to just 36 minutes and can transport 1,800 passengers per hour in each direction, serving the nearly 20 lakh devotees who visit annually.The Rs 25,0..

Gurugram Rapid Metro to shift from DMRC to GMRL control

The Haryana Mass Rapid Transport Corporation Limited (HMRTC) has begun the process of transferring Gurugram’s Rapid Metro operations from the Delhi Metro Rail Corporation (DMRC) to Gurugram Metro Rail Limited (GMRL). The decision was taken at HMRTC’s 62nd Board meeting, chaired by chief secretary Anurag Rastogi.Committees have been formed to oversee the transition, covering technical, legal, and operational aspects, with definitive timelines being prepared. Until the transfer is complete, the system will be managed jointly by DMRC and GMRL.The Rapid Metro has shown notable performance impr..

Chandigarh Metro cost climbs to Rs 25,000 crore amid delays

The long-awaited Chandigarh Tricity Metro project has seen its estimated cost balloon to nearly Rs 25,000 crore, following delays in approvals by the Union Territory administration. The cost, which stood at Rs 23,263 crore in February 2025, has risen by Rs 1,737 crore in just seven months, according to officials.The matter was raised during the transport standing committee meeting of the Administrator’s Advisory Council, chaired by AAP state president Vijay Pal. A presentation by Rail India Technical and Economic Service (RITES) strongly recommended that the Metro is the most suitable mass r..