Mumbai to Get Rs 580 Bn Boost to Cut Travel Time to Under 1 Hour
MMRDA's elaborate plan to encircle Mumbai with ring roads to reduce travel time to under 1 hour
MumbaiMmrdaRing RoadsInfrastructureReal EstateReal Estate MumbaiSep 24, 2024
The proposed ring roads will connect the city's northern and southern regions, reducing travel time between the two areas. The project will also involve the construction of new roads, flyovers, and bridges to improve connectivity and reduce congestion.
According to MMRDA officials, the project is expected to be completed within the next 5 years. The authority has already begun work on some of the roads and is in the process of acquiring land for the remaining stretches.
The project is expected to have a significant impact on the real estate market in Mumbai, with property prices likely to increase in areas that will be connected by the new roads. The project will also provide a boost to the city's economy, with improved connectivity expected to attract more businesses and investments.
The MMRDA has also announced plans to develop a number of infrastructure projects in the city, including a new international airport and a metro rail system. The authority has also proposed the development of a number of smart cities in the Mumbai metropolitan region.
In other news, the Cochin International Airport Ltd (CIAL) has announced plans to invest Rs 700 crore in the expansion of its international terminal. The project, which is expected to be completed within the next 2 years, will increase the terminal's capacity to accommodate 44 aircraft, up from the current 36.
Uno Minda Ltd has also announced plans to invest over Rs 610 crore to establish a new manufacturing facility in Indonesia and expand its production capacity in India.
Uno Minda Ltd announced that it will invest over Rs 610 crore to establish a new manufacturing facility in Indonesia and expand its production capacity in India. The company’s wholly-owned subsidiary, PT Minda Asean Automotive (PTMA), has received additional orders for long tail lamps for passenger cars from original equipment manufacturers (OEMs) in Indonesia. To address this growing demand, the new plant in Indonesia is expected to start production by the end of 2025.
Odisha has approved investment proposals worth Rs 39,271 crore. The proposals, which were approved by the state government, include a number of infrastructure projects, including roads, bridges, and industrial parks.
Frequently Asked Questions
What is the estimated cost of the MMRDA's ring road project?
The estimated cost of the project is around Rs 580 billion.
What is the expected completion time for the project?
The project is expected to be completed within the next 5 years.
How will the project impact the real estate market in Mumbai?
The project is expected to increase property prices in areas that will be connected by the new roads.
What other infrastructure projects is the MMRDA planning to develop in Mumbai?
The MMRDA has proposed the development of a number of infrastructure projects, including a new international airport and a metro rail system.
How much is CIAL investing in the expansion of its international terminal?
CIAL is investing Rs 700 crore in the expansion of its international terminal.
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