Public sector banks to finance Nagpur-Mumbai Expressway project

17 Jan 2019 CW Staff

In order to boost Chief Minister Devendra Fadnavis’s pet project, the Mumbai-Napur Expressway (also known as Samruddhi Corridor), public sector banks have agreed to provide finance for the project. Reportedly, the State Bank (SBI) of India has agreed to lend Rs 85 billion, which is the highest amount that has been received for the project.

Other than SBI, banks such as Punjab National Bank, Bank of Baroda, Bank of Maharashtra and the Life Insurance Corporation of India (LIC) have agreed to finance the project.

Being constructed by the Maharashtra State Road Development Corporation, the estimated cost of the project is Rs 500 billion. Of the total cost of the project, nearly Rs 260 billion is required for the construction of the expressway. The corporation is reportedly falling short of Rs 30-Rs 40 billion to the required Rs 260 billion. The consortium of banks, therein, have agreed to pitch in the shortfall.

At present, nearly 95 per cent of the land acquisition of the project has been completed and has thus paved the way for banks to lend money for the project. However, the acquisition in the stretches of Amravati and Aurangabad is yet to commenced. Nearly 8,311 hectare has been acquired for the project. Of the 701 km of the total length of the project, construction of almost 600 km is expected to be completed by December 2020.

Real Estate

11 May 2026

Brigade, Marriott Open Courtyard Kochi Infopark

Brigade Hotel Ventures (BHVL) and Marriott International have opened Courtyard by Marriott Kochi Infopark, a rebranded and upgraded hotel formerly operating as Four Points by Sheraton Kochi Infopark.Located in Kakkanad adjoining Infopark Kochi, the 218-room property strengthens Brigade’s hospitality portfolio in one of the city’s key IT and commercial corridors. The hotel is positioned to cater to corporate, MICE and leisure travellers visiting Infopark, SmartCity and other business hubs in Kochi.The property offers flexible workspaces, smart TVs and high-speed WiFi across rooms and suites..

WorkEZ Expands South India Portfolio to 1.7 Mn Sq Ft

Work Easy Space Solutions (WorkEZ) has expanded its managed workspace portfolio to approximately 1.7 million sq. ft. across 12 operational buildings and two upcoming developments, strengthening its footprint across South India.The expansion includes the addition of 65,000 sq. ft. at Phoenix One National Park in Chennai and the company’s entry into Kochi through a partnership with Lulu Developers, adding another 70,000 sq. ft.WorkEZ has also signed a 0.4 million sq. ft. development in Coimbatore with Veeras Infra following the successful leasing of 0.1 million sq. ft. in the first phase. The ..

Stans Arize Allots 111 Homes Within a Week of Launch

The Mandate House has recorded sales of 111 residential units worth over Rs 1 billion within one week of the launch of Stans Arize, a residential development by Stans Buildtech in Jogeshwari (East), Mumbai.The Mandate House, appointed as the exclusive sales partner for the project, managed the end-to-end sales and marketing strategy for the launch.Located at Janata Colony, Gandhi Nagar, Stans Arize is a 23-storey residential tower comprising one and two-bedroom apartments. The project includes amenities such as a swimming pool, fitness centre, jogging track, yoga and meditation area, moss gard..