MbPA Clarifies Rs 4.75 Bn Land Charge for SoBo Twin Tunnels

02 Jan 2025 CW Team

In response to a report about the Mumbai Port Authority (MbPA) quoting Rs 85 billion for land near Orange Gate for the Mumbai Metropolitan Region Development Authority (MMRDA), the port authority has clarified that it has only requested Rs 4.75 billion.

The report on December 27 highlighted a discrepancy between the land cost and the total project value for the Eastern Freeway-Coastal Road twin tunnels. A spokesperson for MbPA explained, “Based on MMRDA’s request, the terms for granting land near Orange Gate Princess Dock for Phase 1, covering 12,500 sq m for temporary use for five years, at an annual lease rent of Rs 25.58 crore, and 7,100 sq m for permanent use for 30 years, at an annual rent of Rs 14.53 crore, have been communicated to MMRDA. These terms align with Union Cabinet-approved policy guidelines for Land Management 2015.”

The statement also mentioned that a special way charge will apply to the underground tunnel passing through MbPA land. After the initial project period, the 1.25-hectare land will revert to MbPA, and for the permanent land, a 50% concession will apply after five years.

The statement continued, “Given the project’s importance in alleviating Mumbai’s traffic congestion, an understanding has been reached between both parties, and the land was handed over to MMRDA on October 1, 2024, for the city’s improvement. MMRDA has already begun work,” it added.

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..