MMRDA gets state cabinet nod to raise Rs 600 bn in loans
Real Estate

MMRDA gets state cabinet nod to raise Rs 600 bn in loans

The Mumbai Metropolitan Region Development Authority (MMRDA) has been allowed by the new Maharashtra government to raise Rs 600 billion in loans. In Phase I, the authority will borrow Rs 120 billion crore, for which the Shiv Sena-BJP government has decided to stand guarantor to fund various infrastructure projects in the Mumbai Metropolitan Region (MMR).

Chief Minister Eknath Shinde made the announcement at a post-cabinet briefing last week. Metropolitan commissioner SVR Srinivas said, "We will need this money to execute existing and future projects in MMR."

MMRDA expects good cash flow from various sources of revenue over the next 25 years, but officials said the Rs 600 billion that it has been allowed to raise will act as a buffer in case of non-receipt from expected sources in the next five years due to delay in projects and its impact on revenue inflow. MMRDA's sources of revenue have been hit due to delay in commissioning of major projects because of the Covid-induced lockdown as well as lack of interest demonstrated by parties in the land parcels put up on lease in the Bandra-Kurla Complex (BKC).

The authority is confident it will be able to repay loans by levying development charges on residential, commercial and industrial units, besides monetising land.

See also:
Adani Group will invest K Raheja Corp. Rs. 1,500 crore for land
Japanese-backed Satya MicroCapital to finance affordable housing


The Mumbai Metropolitan Region Development Authority (MMRDA) has been allowed by the new Maharashtra government to raise Rs 600 billion in loans. In Phase I, the authority will borrow Rs 120 billion crore, for which the Shiv Sena-BJP government has decided to stand guarantor to fund various infrastructure projects in the Mumbai Metropolitan Region (MMR). Chief Minister Eknath Shinde made the announcement at a post-cabinet briefing last week. Metropolitan commissioner SVR Srinivas said, We will need this money to execute existing and future projects in MMR. MMRDA expects good cash flow from various sources of revenue over the next 25 years, but officials said the Rs 600 billion that it has been allowed to raise will act as a buffer in case of non-receipt from expected sources in the next five years due to delay in projects and its impact on revenue inflow. MMRDA's sources of revenue have been hit due to delay in commissioning of major projects because of the Covid-induced lockdown as well as lack of interest demonstrated by parties in the land parcels put up on lease in the Bandra-Kurla Complex (BKC). The authority is confident it will be able to repay loans by levying development charges on residential, commercial and industrial units, besides monetising land. See also: Adani Group will invest K Raheja Corp. Rs. 1,500 crore for land Japanese-backed Satya MicroCapital to finance affordable housing

Next Story
Infrastructure Transport

MoRTH to Frame IRC Norms for New-Age Machines in Highway Work

The Ministry of Road Transport and Highways (MoRTH) has decided to formally adopt Automated and Intelligent Machine-aided Construction (AIMC) for highway projects, aiming to accelerate execution and ensure timely completion. In line with this, MoRTH announced that the Indian Roads Congress (IRC) will develop new guidelines based on feedback from contractors and concessionaires actively involved in these projects.So far, MoRTH has sanctioned at least 16 highway projects where innovative construction equipment will be deployed. Additionally, the ministry is awaiting Cabinet approval for 10 more ..

Next Story
Infrastructure Energy

SECI Extends Green Ammonia Bid Deadline to 30 June

The Solar Energy Corporation of India (SECI) has extended the bid deadline for its green ammonia tender to 30 June 2025. The tender was issued under the SIGHT Scheme - Mode 2A, Tranche I, to supply 7.24 lakh tonnes annually to 13 fertiliser plants.As the implementing agency under the National Green Hydrogen Mission, SECI will enter long-term offtake agreements with selected producers, providing 10-year commercial certainty to encourage market development for green hydrogen derivatives. ..

Next Story
Infrastructure Urban

India Launches First Maritime Sector NBFC

Union Minister Sarbananda Sonowal recently inaugurated Sagarmala Finance Corporation Limited (SMFCL), India’s first NBFC dedicated to the maritime sector. Formally registered with the RBI on 19 June 2025, SMFCL evolved from Sagarmala Development Company Limited.It will address financing gaps for ports, MSMEs, startups, and maritime institutions, supporting shipbuilding, renewable energy, cruise tourism, and education. The move aligns with India’s Maritime Amrit Kaal Vision 2047 and aims to catalyse innovation and sustainable logistics growth.Union Minister of State Shantanu Thakur emphasis..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?