As reported, the Supreme Court has given its approval for Mumbai’s Rs 140 billion coastal road project – which was put on the map to decongest traffic and provide ease of access between the northern and southern parts of the city.
The Bombay High Court recently cancelled the coastal regulation zone (CRZ) clearances granted to the ambitious Rs 140-billion Mumbai Coastal Road Project, reasoning that there was serious lacuna in the decision-making process and lack of proper scientific study. The decision is likely to impact the order book of large construction players such as Larsen & Toubro (L&T) and HCC, who are involved in the construction of the project.
Hindustan Construction Company (HCC), in a JV with Hyundai Development Corporation (HDC), has been awarded a Rs 21.26 billion contract by the Municipal Corporation of Greater Mumbai (MCGM), for design and construction of the Mumbai Coastal Road Project (MCRP), Package-2.
The government’s approval on the long-pending Mumbai DP 2034 is a welcome move. The DP is likely to spur real estate activity in the city and also pave the way for the development of much-needed affordable houses in Maximum City.
CREDAI-MCHI inked an important Memorandum of Understanding (MoU) with the Government of Maharashtra for affordable housing in the presence Maharashtra Chief Minister Devendra Fadnavis at the Magnetic Maharashtra Summit in Mumbai.