Visakhapatnam Metro Funding Plan Under Review

28 Jan 2026 CW Team

Visakhapatnam Metropolitan Region Development Authority Commissioner N. Tej Bharat has reviewed the mobilisation of Rs 26.18 billion required for the Visakhapatnam Metro Rail Project, assessing progress and key financial and implementation challenges.

During the review meeting, the Commissioner evaluated the project’s current status, timelines and execution hurdles, emphasising the need for stronger inter-departmental coordination to ensure timely delivery.

He said the project could benefit from identifying nationalised banks willing to provide financing at lower interest rates. He also recommended that loan agreements include a minimum moratorium period of five years on repayments to ease financial pressure during the initial implementation phase.

The Commissioner stressed the importance of wider consultations with banks and financial institutions operating under Reserve Bank of India guidelines. To reduce the project’s overall debt burden, he advised officials to seek exemptions from state taxes and GST from the state government.

On land acquisition, he directed officials to reassess station locations, alignments and related aspects, and to explore options to further minimise land-related costs. The meeting was attended by senior officials, including Joint Commissioner Ramesh, Chief General Manager (Finance) UJM Rao, Chief General Manager (Projects) Brahmanandam, Visakhapatnam RDO Sudha Sagar and other officials.

The review underscores the focus on strengthening the financial structure and implementation framework of the Visakhapatnam Metro project, which is expected to significantly enhance urban mobility in the city.

Real Estate

02 Jun 2026

Dash Square Adds Ashley Study Furniture

Dash Square has expanded its furniture portfolio with a curated study furniture collection from Ashley Furniture Homestore. The range is designed for contemporary homes where work, study and creative activities increasingly require dedicated and well-planned spaces.The collection includes writing desks, executive workstations, storage-led study units and display shelving. It combines practicality, comfort and design to create workspaces that are functional as well as visually appealing.One setting features a light-toned desk with coordinated bookcases and storage cabinets, creating a bright an..

Suraj Estate Arm Acquires Mahim Land Rights

Suraj Estate Developers, through its wholly owned subsidiary Iconic Property Developers, has signed an MoU to acquire development rights for a land parcel in Mahim (West), Mumbai, for Rs 75 crore. The plot measures around 2,941 sq m and is located next to the company’s ongoing commercial project, Suraj One Business Bay.After amalgamation with the existing commercial development, the land is expected to generate additional saleable carpet area of around 1.50 lakh sq ft, with an estimated gross development value of Rs 800 crore. The project is expected to strengthen the company’s near-to-med..

AGNI Launches Industry Benchmarking Drive

The Association of Global NICMARians (AGNI), the alumni body of NICMAR, hosted ASPIRE 2026 in Mumbai under the theme ‘Innovation to Transformation’. The symposium brought together professionals from construction, infrastructure, real estate and project management to discuss technology, AI, sustainability and data-led decision-making.At the event, AGNI announced its vision to emerge as an industry think tank and launched initiatives including an Industry Benchmarking Programme. It also proposed a digital ecosystem with tools for innovation impact assessment, salary benchmarking, company ben..