Starting this new series in a trial basis. Aim of the series would be deliver latest construction updates of the infrastructures in India.
1. Housing Property Registration in Mumbai Falls 42% in April 2021
10,136 registration is done in Mumbai in April 2021. This number is around 42% less than the previous month. In March 2021 Property registration was 17,449 Units.
Fall may be up to 90% as Stamp duty was paid in March to avail the lower stamp duty benefit. Maharashtra Government gave benefits of 2-3% in Stamp duty which ended on 31st March.
This fall has 2 main reasons. First, is the second wave of Covid-19 hit the market. The second reason is Many buyers hurried in march to buy their property to take stamp duty benefits.
2. Mr. Nitin Gadkari Sets 15 Lakh Cr target for Road construction for the next two years.
“Government is giving utmost priority to the development of infrastructure and has set a target of road construction worth Rs 15 lakh crore in next two years,” said Mr. Nitin Gadkari while addressing the India-US partnership vision summit.
He further said that India Will achieve 40Km daily highway construction in this fiscal year. He said that under the NIP (National Infrastructure Pipeline), there are over 7,300 projects to be implemented at a total outlay of ₹ 111 lakh crore by the year 2025.
3. Tata Power won solar photovoltaic Project in Dhule, Maharashtra
TP Surya Limited a Tata Power Owned Subsidiary company won the 875 Cr project. This project is planned to construct 250 MW Solar photovoltaic Grid Connection. The location is Dondaicha, Dhule, Maharashtra. The company won this bid by quoting Rs 2.51 per kWh.
The project will complete in 15 months. The project will be completed in 3 blocks. Block 1 will complete 75mw, Block 2- 125 MW and block three will complete the remaining 50mw.
4. Four Years of RERA
RERA (Real Estate Regulation Act) Completed four Year. Around 63,500 projects registered under RERA. 65,500 Cases were Disposed to local state authorities. Out of this, nearly 40 percent cases (approximately 26,510 complaints) were resolved in Uttar Pradesh alone, followed by Haryana with 13,269 cases and Maharashtra with 9,265 cases. The three states cumulatively accounted for nearly 75 percent of the total disposed cases.
So far 34 States/UTs have notified RERA Rules. Maharashtra accounts for a 45 percent share. Gujarat comes next with a 13 percent share, followed by Madhya Pradesh and Karnataka with about 6 percent share each, and Uttar Pradesh with a 5.
5. Indian Railways Created 70,000 Beds in coaches
It took 4400 coaches to make available 70,000 beds. Yes, the Indian railway created 70,000 beds for covid care isolation At present 232 coaches are handed over to various states with 4000 capacity.
