REC and MMRDA Sign Rs 1 Trillion MMR Investment MoU

09 Apr 2025 CW Team

REC Limited, a Maharatna CPSU under the Ministry of Power and a prominent NBFC, has entered into a Memorandum of Understanding (MoU) with the Mumbai Metropolitan Region Development Authority (MMRDA) to provide financial support of Rs 1 trillion for infrastructure development in the Mumbai Metropolitan Region (MMR). The agreement was formally signed by Shri. Harsh Baweja,Director (Finance), REC Limited and Dr Ankush R Nawale, Financial Advisor MMRDA, at the India Global Forum (IGF) Mumbai NXT 25 event at the Jio Convention Centre, Mumbai, in the presence of Maharashtra's Hon'ble Chief Minister, Shri Devendra Fadnavis; Hon'ble Deputy Chief Minister, Shri Eknath Shinde; Dr. Sanjay Mukherjee, IAS, Metropolitan Commissioner, MMRDA; Shri Vikram Kumar, IAS, Additional Metropolitan Commissioner, MMRDA; Shri Rahul Dwivedi, IAS, Executive Director, REC and senior officials of REC and MMRDA.

The MoU outlines REC Limited's commitment to financing a wide array of infrastructure projects in the MMR, focusing on urban mobility, housing, and essential infrastructure. The funding will be disbursed over the next five years, ensuring steady progress in modernising and enhancing the region’s infrastructure.

On this milestone, Shri Harsh Baweja, Director (Finance) said, "Our Rs 1 trillion commitment reflects our strong dedication to supporting large-scale infrastructure projects that will significantly improve the living standards for the people of Mumbai Metropolitan Region." Further on this occasion, Shri Rahul Dwivedi, IAS, Executive Director (I&L), REC Limited said, "We are excited to partner with MMRDA in this transformative initiative."

This collaboration underscores REC Limited’s vital role in financing and driving infrastructure development across India, furthering its mission to contribute to the nation’s growth and progress.

Real Estate

05 Dec 2025

RBI Rate Cut Boosts Confidence Across Housing Market

Industry Context and Market DynamicsThe real estate industry has welcomed the RBI’s rate cut as a timely boost to affordability and demand. With home prices having risen steadily across major markets, even a marginal reduction in interest rates meaningfully strengthens purchasing power, especially for first-time and mid-income buyers.Ashish Jerath, President – Sales & Marketing, Smartworld Developers, observes:“The RBI’s 25-basis-point cut, bringing the repo rate down to 5.25%, is a timely boost for the real estate sector. Lower interest rates reduce borrowing costs, enabling homeb..

BMC Resumes Rs 170 Billion Road Works, Targets 80 per cent By Jan 2026

Following the withdrawal of the southwest monsoon in October, the Brihanmumbai Municipal Corporation (BMC) has restarted work on 645 roads—covering 297.49 kilometres—under its large-scale concretisation programme. Data shows that more than 60 per cent of the resumed works are located in the western suburbs. Officials said the civic body aims to complete concretisation on 80 per cent of the roads where fresh work has begun by January 2026. Launched in 2022, the Rs 170 billion project seeks to concretise 700 kilometres of roads across Mumbai. All civil works were halted during the monsoon ..

India Pushes Digital Shift In Urban Land Mapping

The Department of Land Resources (DoLR) under the Ministry of Rural Development has convened a National Symposium on NAKSHA – the National Geospatial Knowledge-based Land Survey of Urban Habitations – to advance India’s transition to modern, technology-driven land mapping. Speaking at the inaugural session, Secretary Manoj Joshi underscored the urgent need to move revenue departments away from outdated, tape-based methods and rough hand-drawn sketches. He stressed that adopting latitude–longitude-based digital mapping and GIS-linked registration systems is essential for economic stabi..