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India Gazette
24-06-2025
- Business
- India Gazette
MMRDA approves Rs 12,000 crores Infra Push for Metro Projects to have last-mile connectivity
New Delhi [India], June 24 (ANI): The Mumbai Metropolitan Region Development Authority (MMRDA) on Tuesday approved 19 key infrastructure projects worth over Rs 12,000 crore at its Executive Committee meeting, to accelerate Metro Rollout and Smart Transport Systems.'These projects will accelerate economic activity, enhance urban mobility, and improve the quality of life for every citizen. This is not merely an investment in metro corridors, it is a strategic advancement towards a smarter, more connected Maharashtra,' said Maharashtra Chief Minister Devendra approvals include a substantial 4,788 crore contract to Larsen & Toubro Ltd. for integrated systems on Metro Line 4 & 4A, encompassing rolling stock, signalling, and depot equipment with five years of maintenance. Civil works for Metro Line 4A saw a revised approval of 557.55 crore, while L&T will also undertake 188.59 crore ballastless trackwork for Metro Line Line 6 received significant allocations, with IRCON International Ltd. securing a 668.15 crore contract for power supply and E&M systems, and NCC Ltd. awarded 2,269.66 crore for rolling stock and signalling Multi-modal integration works for Metro Line 4 & 4A, valued at 535.08 crore, were divided into four packages among various JVs. Other notable contracts include AFC systems for Metro Line 4 & 4A (Aurionpro Solutions Ltd., 249.97 Cr), OHE and power distribution for Metro Lines 9 & 7A (Leena Powertech-Umesh Brothers Consortium, 118.28 Cr), and ballastless track for Metro Line 2B (Paras Railtech Pvt. Ltd., 99.99 Cr). The MTHL Package-4 also saw a revised contract cost of 551.41 crore for ITS and toll management systems. 'With over 12,000 crore of strategic investments, we are advancing toward a seamless, sustainable, and inclusive metro network and other Infrastructure that will define the next era of urban mobility for the state,' Deputy Chief Minister and Chairman MMRDA Eknath Shinde said.'The focus remains on enhancing last-mile connectivity, accelerating commissioning timelines, and delivering commuter-centric infrastructure that supports seamless, multimodal movement across the MMR,' Sanjay Mukherjee, IAS, Metropolitan Commissioner, MMRDA, stated. (ANI)
News18
21-06-2025
- Automotive
- News18
Thane Roads To Remain Close For Mumbai Metro Work: Timing, Alternative Routes
Last Updated: The traffic police in Thane have issued an advisory for I & U girder work on parts of Ghodbunder Road. Thane's Kasarvadavali Traffic Subdivision, under the Thane Municipal Corporation (TMC), has issued a traffic advisory in light of the ongoing construction work for Mumbai Metro Line 4. The Mumbai Metropolitan Region Development Authority (MMRDA), in collaboration with the construction engineering company J. Kumar Infraprojects Ltd., will undertake I & U girder installation, as well as T & L precast work, on specific sections of Ghodbunder Road. This work will take place during nighttime hours—from 11 PM to 4 AM—between June 22 and July 14. Commuters are advised to expect diversions and possible delays during this period. The construction work will be carried out in two main areas: from Nagalabunder Signal to the Indian Oil Pump, and from Nagalabunder to Bhayanderpada, as per the Free Press Journal. To carry out these activities safely, certain parts of the Thane-Ghodbunder Road will be temporarily closed to heavy vehicles at specific locations. This traffic advisory is meant to reduce traffic jams and help vehicles move more smoothly in the area. The notice has been issued by Pankaj Shirsat, Deputy Commissioner of Police, Traffic Department, Thane City. वाहतूक नियंत्रण अधिसूचना, कासारवडवली — Thane City Police -ठाणे शहर पोलीस (@ThaneCityPolice) June 19, 2025 – Due to ongoing I & U girder work near Pillar No. 85, entry will be closed for heavy vehicles from Thane Ghodbunder Channel to Gaimukh Station. – These vehicles will be redirected from Pillar No. 85, taking a reverse route toward Porbandar Thane Main Road, then turning right at Pillar No. 102 to continue via the main road in front of the Indian Oil Pump. – For light vehicles during the same period, traffic will be routed through the service road near Pillar No. 85 and will rejoin the main road near the Indian Oil Pump to reach their destinations. Additional Entry Closures and Alternate Routes During Girder Work – While the I & U girder work is in progress on the Ghodbandar-Thane stretch, all types of vehicles heading toward Thane will face entry restrictions near Nagla Bandar and Asha Wine Shop. – As an alternative, vehicles can take a detour through Nagla Bandar Depot (Pillars 72 and 73) and pass by Asha Wine Shop before rejoining the main road near Lodha Splendora on Ghodbunder Road to continue their journey. It is to be noted that these traffic restrictions do not apply to essential service vehicles, including police, fire brigade, ambulances, oxygen supply vehicles, and other emergency services. First Published:
Business Upturn
16-06-2025
- Business
- Business Upturn
Arkade Developers shares rise 2% after company announces Rs 2,000 crore Thane project
By Aditya Bhagchandani Published on June 16, 2025, 09:24 IST Shares of Arkade Developers Ltd rose over 2% to ₹195.50 in Monday's early trade after the company announced a strategic land acquisition in Thane. The Mumbai-based real estate company confirmed its foray into the Thane market with a 6.28-acre freehold land parcel at Kasarvadavali, Ghodbunder Road. The company disclosed that the transaction, valued at ₹172.48 crore including stamp duty, is intended for a marquee mixed-use development with a projected gross development value (GDV) of ₹2,000 crore. The project is expected to offer 2, 3, and 4 BHK residences alongside curated retail and commercial spaces, with launch slated for early 2026. The site offers sweeping views of the Sanjay Gandhi National Park and benefits from strong infrastructure connectivity via Eastern Express Highway and the upcoming Metro Line 4 and Thane-Borivali twin tunnel. Arkade Developers Chairman & MD Amit Jain noted that the Thane expansion marks a major milestone in the company's growth, adding to recent developments in Kanjurmarg, Mulund, and Bhandup. The company also highlighted its recent acquisition of the 4-acre Filmistan land parcel in Goregaon with an estimated GDV of ₹3,000 crore. As of the latest update, Arkade Developers shares were trading at ₹195.50, up 2.25% from the previous close of ₹191.20. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Time of India
14-06-2025
- Business
- Time of India
Thane administration takes possession of land for Metro car depot after resistance from farmers
Mumbai: After months of resistance and stalled progress, the Thane district administration on Friday morning took physical possession of 174 hectares of land at Mogharpada, clearing the path for the construction of the Metro Line 4 (Wadala-Ghatkopar-Kasarvadavali) car depot. The land is now being officially handed over to the Mumbai Metropolitan Region Development Authority (MMRDA). Located along Ghodbunder Road, the site was selected for its strategic location to serve Metro-4 with future extensions to Gaimukh, Mira Road, and the upcoming Thane-Bhiwandi-Kalyan corridor. The depot is critical for operations, but work was stuck due to stiff resistance from 167 local farmers who claimed they cultivated the land for decades. On Friday, police personnel were present to maintain law and order as district officials, accompanied by MMRDA representatives, reached the site and put up signboards marking govt possession. The acquisition process was carried out in the presence of the Additional Collector. The takeover included both legally held and encroached portions of the 174-hectare land. Though the land was officially transferred to MMRDA earlier, actual possession was pending. To break the impasse, the earlier Shinde-Fadnavis govt introduced a Cidco-style compensation model—offering 22.5% of developed land to owners and 12.5% to non-titleholders. Despite this, resistance continued, prompting CM Devendra Fadnavis to direct the district collector to initiate eviction proceedings against those obstructing the project. MMRDA has already awarded the depot construction contract to a joint venture of SEW Infrastructure and Vishwa Samudra Engineering, which emerged as the lowest bidder at Rs 906 crore. The proposed facility will have 64 stabling lines (32 for current operations, 32 for future use), 10 inspection bays, workshop lines, operations control centre, admin blocks, staff quarters, and a substation. Advocate Kishor Divekar, representing the farmers, said compensation must be paid as per the Right to Fair Compensation and Transparency in Land Acquisition Act, 2013, based on prevailing market rates, instead of the outdated Cidco policy offering 22.5% and 12.5% land share in return. The land in question — Survey No. 30, measuring 174 hectares — was under cultivation by 167 tenant farmers since 1960. Farmers alleged that names were removed from land records without due process and that notices were served just hours before the land was taken over under heavy police presence. They clarified they are not against the Metro project but demand fair compensation. The Karmabhoomi Krishi Samanvay Samir, a body of farmers, has warned of launching a mass agitation if the "issue is not resolved lawfully." Follow more information on Air India plane crash in Ahmedabad here . Get real-time live updates on rescue operations and check full list of passengers onboard AI 171 .
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Business Standard
13-06-2025
- Business
- Business Standard
Arkade Developers buys 6.28-acre land parcel in Thane for ₹172.48 crore
Arkade Developers, a Mumbai-based real estate developer, has bought a 6.28-acre freehold land parcel in Thane, a part of the Mumbai Metropolitan Region (MMR), for ₹172.48 crore, including stamp duty. The company will develop a mixed-use project on the purchased land with a gross development value (GDV) of ₹2,000 crore, having a Real Estate Regulatory Authority (RERA) saleable area of 9.26 lakh square feet (sq ft). The project launch is slated for early 2026, the company noted. The land parcel is located at Kasarvadavali, off Ghodbunder Road, in Thane West. JLL India was the transaction advisor for the deal. The company believes that with the upcoming Metro Line 4 and the Thane–Borivali twin tunnel, Thane is undergoing significant transformation. The land deal marks Arkade's entry into the Thane market. Amit Jain, chairman and managing director, Arkade Developers, said, 'With a strong presence in central locations such as Kanjurmarg, Mulund, and Bhandup, our entry into the Thane market marks a significant milestone in our growth journey. Thane, with its rapidly evolving infrastructure including upcoming metro lines and other major projects, is emerging as a key growth hub for residential and commercial projects. Our strategy is aligned with the overall market trend towards luxury housing.' Further, Jain stated that during the financial year 2025 (FY25), the company also acquired a 4-acre land parcel in Goregaon, which was previously leased to Filmistan. The parcel has an estimated GDV of ₹3,000 crore. According to Square Yards Data Intelligence, in the first quarter of the calendar year 2025 (Q1 CY25), Thane West saw 3,126 new property transactions with a gross sales value of ₹3,787 crore. The property rate in the area as of Q1 CY25 stood at ₹21,547 per sq ft, up from ₹20,029 per sq ft in Q1 CY24. Meanwhile, the rental rate as of Q1 CY25 stood at ₹40.413 per sq ft.
