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Time of India
25-06-2025
- Business
- Time of India
BMC auctions south Mumbai market plot for 13% less than Rs 428cr base price
Mumbai: BMC has issued a letter of acceptance (LOA) to AAV Developers LLP, which bid 13% less than the base value of Rs 428 crore, for a 8,116 sq m plot housing Chhatrapati Shivaji Maharaj Market near Crawford Market in south Mumbai for a 30-year lease period. Accepting the Rs 369-crore bid, BMC has asked AAV Developers to leave space for a staircase, lift and escalators for a foot over-bridge (FOB) that railways plan to build to connect the east-west of CSMT station and access to long-distance nodes from Mahatma Jyotiba Phule Mandai. According to the LOA, AAV Developers and Rail Land Development Authority (RLDA) will have to sign an agreement and make a pro-rata payment for the space allotted to them. RLDA will have to pay for the FOB landing space though the chief secretary had earlier instructed BMC to not charge any land cost. The civic body maintained that handing over space for free is not in consonance with the BMC Act. In Oct 2024, BMC decided to auction 3 of its plots in the island city, including the one at Crawford Market, for a 30-year lease period with a provision of renewal for another 30 years in a bid to generate revenue as its liabilities crossed Rs 2 lakh crore owing to its infrastructure projects. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai The decision to auction the Crawford Market plot, which houses a fish market and is also reserved for a municipal office and disaster management facilities, and to give LOA to a developer who bid below the base value has come under criticism. "This land has been reserved for a municipal office, municipal chowky, and for disaster management facilities," said former IPS officer-lawyer Y P Singh. "It is not possible to delete these reservations because they are public facilities created by due process of law. Further, the deletion requires public hearing and the outcome whether the reservations can be deleted or modified or not deleted, is still uncertain... It is also a settled position in law that the questions of 'Inter-Generational Equity', also have to be considered." Activist Santosh Daundkar said BMC should allot whatever land railways require and build a public parking lot in the remaining space and allow fisherfolk to continue their trade. "It is widely believed that the plot is being allotted due to pressure from the top," he claimed. But BMC chief Bhushan Gagrani cited the two previous attempts and the railways seeking the right of way for going ahead with the auction. This time, BMC received only two bids — Rs 369 crore from AAV Developers and Rs 330 crore from Saroj Landmark Realty. "There are issues with the plot including reservation, which state has to delete, and the shifting of the fish market. It is not conducive for commercial exploitation. We had no option but to go ahead by accepting the highest bid," said a BMC official. But another official said: "BMC could have cancelled the process or sought fresh bids."
Hindustan Times
25-06-2025
- Business
- Hindustan Times
October 2025: New deadline for Chandigarh Railway Station revamp
After missing two previous deadlines, the redevelopment of Chandigarh railway station is now slated for completion by October 2025. The revised timeline was discussed during a review meeting held on Tuesday, chaired by Union minister of state for railways Ravneet Singh Bittu. The upgraded Chandigarh railway station is designed to cater to a projected daily footfall of over 1 lakh passengers by 2061. (HT Photo) In the meeting, minister Bittu instructed officials to speed up the pending work and minimise the inconvenience caused to the public during rush hours. Around 81% of the redevelopment work is complete, and the Rail Land Development Authority (RLDA) aims to finish the ₹ 462 crore project by October 2025. The redevelopment work, which began in January 2023, missed its first completion deadline in May 2024 and another in May 2025. No clear reason has been provided by the RLDA for the continued delays. Due to the ongoing project, passengers have been facing many problems, including the lack of escalators, lifts, and ramps, as well as having to walk on uneven surfaces and walk an extra 100 metres because of pick-and-drop charges. During rush hours in the afternoon, a chaotic traffic situation is seen at the station, which has a daily footfall of over 37,000 passengers. The redevelopment project of Chandigarh railway station is being executed by the RLDA under the engineering, procurement and construction (EPC) model. The project aims to transform the station into a modern, world-class multimodal transit hub serving the Chandigarh Tricity region. The total development area of the station is 1,92,248 sq metre, with a built-up area of 27,383 sq metre. Expanded parking, lifts, escalators and much more There will be new G+3 station buildings on both Chandigarh and Panchkula sides, each covering an area of 8,367 sq metre, aimed at improving accessibility and passenger movement. A covered concourse of 72m wide and 80m long will connect the station buildings and provide weather-protected transit across platforms. Another two 12m wide foot over bridges will also be constructed for inter-platform movement. The parking will be expanded on both sides with an area of 24,515 sq metre with integrated traffic flow designs for both city sides. The station will have 30 lifts and 10 escalators for barrier-free movement. Enhanced waiting areas i.e. 1,180 sq metre concourse with 1,050 seats, food courts, retail spaces, retiring rooms, co-working spaces, paid lounges and other commuter-focused amenities. There will be a 4,000+ sq metre of commercial area, including kiosks, food outlets, and shopping spaces. The upgraded Chandigarh railway station is designed to cater to a projected daily footfall of over 1 lakh passengers by 2061. Among the key attendees included Manoj Garg (vice chairman, RLDA), Sanjeev Garg (principal executive director, Gati Shakti/Railway Board), Dhananjaya Singh (executive director, MoSR), Sanjay Srivastava (chief project director, Northern Railway), Tarun Kumar Goyal (member, planning, RLDA), Balbir Singh (chief project manager, RLDA Chandigarh), and MS Negi (director, Railway Board), among others.
Time of India
23-06-2025
- Business
- Time of India
Corpn can't tax railway property: HC
Madurai: Article 285(1) of the Constitution indicates that the property of the Union shall be exempt from all taxes imposed by a state, even if it is put to commercial use, observed Madras high court . The court set aside a single bench order dismissing a plea moved by Madurai Multi Functional Complex Private Limited challenging the demand notice issued by Madurai corporation seeking payment of property tax. The land in Madurai belongs to railways. To develop vacant land parcels owned by railways, The Railways Act, 1989, was amended and Railway Land Development Authority (RLDA) was constituted. In 2013, RLDA and Ircon Infrastructure and Services Limited entered into an agreement for development of railway land throughout India. Subsequently, Ircon entered into a sub-lease agreement for 30 years with Madurai Multi Functional Complex Private Limited concerning the property in Madurai. The Multi Functional Complex was constructed by Ircon on a 2,700 sq metre plot within Madurai railway station premises. Madurai corporation assessed the building for property tax and issued a demand notice in 2018, calling upon Madurai Multi Functional Complex Private Limited to pay half-yearly tax of Rs 10,07,623. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 오스템 임플란트 받아가세요 임플란터 더 알아보기 Undo Though a petition was filed challenging the demand notice, it was dismissed by the single judge. Therefore, Madurai Multi Functional Complex Private Limited (appellant) preferred the present appeal in 2020. A division bench of Justice G R Swaminathan and Justice M Jothiraman observed that the plain language of Article 285(1) of the Constitution indicates that the property of the Union shall be exempt from all taxes imposed by a state or by any authority within a state. "Article 285(1) stands as an iron dome which cannot be breached. Property of the Union of all kinds and hues can take shelter within it," the judges observed. The judges noted that RLDA is an alter-ego of the railways which cannot hold properties in its name. "Therefore, we hold that the petition mentioned building belongs to railways. The title over the building vests with the railways," they said. Hence, the judges held that the levy of property tax over the appellant-building would fall foul of Article 285(1) of the Constitution and set aside the order of the single bench. However, the judges made it clear that since the appellant is enjoying certain facilities offered by the Madurai corporation, it is open to the corporation to enter into a special agreement with the appellant to enable the petitioner to continue to enjoy those facilities. Since the appellant-building forms a class by itself, it is open to the corporation to charge a higher drainage tax. The corporation will issue notice to the appellant and other occupiers of the building to come for negotiation and enter into an appropriate agreement in this regard, the judges observed.
Hindustan Times
17-06-2025
- Business
- Hindustan Times
Land exemption given for tree felling for railway station work
Lieutenant Governor VK Saxena has granted a special exemption under the Delhi Preservation of Trees Act (DPTA), 1994, to facilitate redevelopment of the New Delhi Railway Station. The move allows the Rail Land Development Authority (RLDA) to seek formal permission to fell or transplant 887 trees spread across a 115.88-hectare site. The exemption, issued via a gazette notification on June 5 but made public Tuesday, invokes Section 29 of the DPTA to bypass the area restriction in 'public interest.' '… in public interest, (the LG) exempts an area of 115.88 hectare… from the limitation of maximum one hectare area under sub-section (3) of Section 9 of the said Act for re-development of New Delhi Railway Station, Delhi under Delhi Preservation of Trees Act (DPTA), 1994,' the notification read. This provision has now been invoked thrice in recent weeks — previously for the Common Central Secretariat buildings and a flyover in northeast Delhi. To be sure, while the exemption clears a key procedural hurdle, it does not constitute approval for cutting or transplanting any trees. It merely enables the designated Tree Officer to examine the RLDA's application, which had previously been ineligible for consideration because of the site's size. 'This notification... shall not be considered as permission for transplantation/felling of trees,' the Act states. For the next step, the Tree Officer, in this case the deputy conservator of forest (central division), will independently scrutinise the application. This will involve due diligence under the DPTA, the Delhi Preservation of Trees Rules, 1996, and compliance with any court directions. The Tree Officer must apply due diligence and aim to minimise the number of trees affected by the project. Redevelopment of the New Delhi Railway Station has been in the pipeline since 2021. Initially pegged at ₹15,000 crore, the project has since been scaled down to ₹2,469 crore to enhance feasibility. Plans include construction of two linear station buildings on the Paharganj and Ajmeri Gate sides, an air-concourse, waiting areas, lifts, escalators, retail and office spaces. The station will function as an integrated Multi Modal Transit Hub. Connectivity is a key component: a network of elevated and at-grade roads is proposed to ease congestion. While the original plan had seven flyovers, revisions are underway, though a web of elevated roads will still link the site with other parts of the city, said an RLDA official. The June 5 exemption is part of a series of recent moves by the LG to fast-track large infrastructure projects that fall afoul of the DPTA's area limit. On June 6, Saxena issued a similar exemption for a 5.037-hectare site at the Common Central Secretariat project, involving 476 trees. A day earlier, he cleared a 2.16-hectare stretch for a flyover at the Nand Nagri–Gagan Cinema junction, where 27 trees are affected. A retired Indian Forest Service officer familiar with such cases said the exemption is a procedural mechanism, often used to allow legal processing of large-scale development applications. 'Without the exemption, the Tree Officer would not be able to even consider such cases. It doesn't mean permission is granted, just that the file can now be taken up,' the official said, adding that such provisions have been used in past projects as well.
Time of India
17-06-2025
- Business
- Time of India
Stamp duty waiver of 45cr for Dharavi project to lease rly land
Mumbai: The state cabinet on Tuesday approved stamp duty waiver of Rs 45 crore on sub-lease agreements between Dharavi Redevelopment Project (DRP) and Railway Land Development Authority (RLDA), as well as of Rs 186 crore on the conveyance agreement signed with the judiciary to set up a permanent campus of Maharashtra National Law University at Goregaon. RLDA has agreed to lease 47.5 acres of its land at Mahim to DRP for more than 30 years. So far, DRP has obtained possession of 28 acres. The land is to be used for railway staff quarters and offices, as well as for housing slumdwellers and residents of authorised buildings in Dharavi. Over 10,000 housing rehab units are proposed to be built on the plot. In a press release, govt said there was a proposal to include such sub-leases in the stamp duty concession policy so that the project's implementation could get a boost. Maharashtra National Law University currently operates out of a rented building at Powai. Govt has provided 35 acres to it in Goregaon for a permanent campus. The stamp duty is 5% of the ready reckoner rate of the plot, which is valued at Rs 3,100 crore, said officials. "The construction of the university's infrastructure in this new space will save on rental costs. Also, the students here will have access to educational facilities in one place," stated the release. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Coventry: If You Were Born Between 1945-1974 You Could Be Eligible For This British Seniors Read More Undo The cabinet also approved a 50% reduction in stamp duty, amounting to Rs 33 crore, on a special purpose vehicle agreement on 493 hectares required for a joint venture project of MMRDA and Raigad Pen Growth Centre Ltd. This would benefit housing projects on the land, said officials. Through the growth centre, govt aims at development of fintech companies, educational and healthcare facilities, amusement parks, affordable housing, commercial hubs, retail and construction sectors, thereby providing a large number of employment opportunities at the local level. "Apart from promoting foreign investment, there is a possibility of a large amount of stamp duty and tax revenue being collected in the state treasury from future commercial transactions. Against this backdrop, a proposal to waive 50% stamp duty was approved," said an official. In the last financial year, govt earned Rs 58,000 crore as revenue from stamp duty, and in the current fiscal, it is estimated to cross Rs 60,000 crore.
