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Showing posts with label Versova. Show all posts
Showing posts with label Versova. Show all posts

Sunday, 12 July 2015

14:07

Maharashtra CM urged to hold talks over Land for Metro II Car Depot

Maharashtra CM urged to hold talks over Land for Metro II Car Depot

Mumbai: The state revenue department has urged chief minister Devendra Fadnavis to hold a meeting of stakeholders for land identified for the Metro II car depot. The urban development department had issued a notification declaring its intention to change the reservation on more than 48 acres at Malwani, Malad (W), for the Metro/mono car depot, allied uses and for commercial purposes.

The land is reserved in the 1991 Development Plan for a recreation ground, government staff quarters, government offices, court and court housing, school for mentally retarded, blind men’s association housing, integrated healthcare and health training centres, a parking lot and roads.

The land was leased to the Manjara Charitable Trust, set up by former Congress chief minister, the late Vilasrao Deshmukh. It was leased to the trust in October 2006 for 30 years.

Revenue department officials said the government decision to take back the land may lead to litigation. “In case of litigation, the matter may go on for years, and the project may get stuck. We prefer an amicable solution, and therefore requested the chief minister to call a meeting and find a solution through dialogue,” an official said.

A proposal likely to be discussed is to allow the trust development rights above the car shed. The change of reservation will also permit commercial development on the site.

The trust runs 22 institutions in Versova, Andheri (West), Navi Mumbai and Latur. Deshmukh’s son and legislator from Latur, Amit Deshmukh, is an executive trustee.
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Saturday, 11 July 2015

23:05

Mumbai Metro fares can be much lower, insist experts

Mumbai Metro fares can be much lower, insist experts

Mumbai: Metro commuters can evade a fare burden if the authorities think out-of-the-box, liberalizing commercial exploitation rules at stations and subside the interest burden on the loan component and electricity tariff.

The three-member fare-fixation committee (FCC) has recommended fares in the range of Rs.10-110 for the 11.4 km Metro corridor that has 12 stations on the Versova-Andheri-Ghatkopar route.

The Mumbai Metro One Pvt Ltd (MMOPL) has taken a loan from Indian and foreign banks with an interest of 13% during construction and 11.7% post re-financing. But the Delhi Metro Rail Corporation (DMRC) has sought a Japan Bank of Industrial Cooperation (JBIC) loan at 1.2% interest through government lending. Also, all foreign exchange fluctuations are borne by the government in the case of DMRC, while MMOPL has to bear the entire risk of forex fluctuations. DMRC has also been given transit-oriented development rights along the Metro corridor, helping it raise earnings through non-fare box revenue.

An expert said, “The state government should liberalize rules of commercial exploitation of air space at Metro stations along the corridor, which have emerged as a major corporate hub over the past decade. They can earn handsome revenue which can help reduce fares. Real estate rates in Mumbai are among the highest and the authorities should allow MMOPL to take advantage of it with stricter norms to ensure that the earnings should bring down fares.” He added, “If low interest rates and cheap electricity tariff are available for Mumbai Metro, fares can be Rs.10-60.” Another expert said, “The government should review the discriminatory PPP policy.”
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Monday, 1 June 2015

16:22

Mumbai Metro One announces volley of retail offers for commuters

Mumbai Metro One announces volley of retail offers for commuters

Mumbai: After the completion of its one year of commercial service Mumbai Metro One Pvt Ltd (MMOPL) has come up with retail offers for its commuters. The smart card users of Mumbai Metro, on Monday, would be able to go on a shopping spree on the 11.4 km long metro corridor connecting Versova with Ghatkopar via Andheri. as MMOPL has tied up with several retailers in a bid to offer a unique shopping experience to its commuters.

They would be to get discounts and offers while shopping at several retail outlets along the corridor just by displaying their smart travel cards.

“Since beginning we have been offering various commuter-friendly offers. And now, as we have taken unique initiative to enhance commuter delight by offering them volley of retail offers to mark one successful year of commuter-service,” said MMOPL spokesperson. The complete Women Shoppe will offer heavy discounts on products by displaying Mumbai Metro One smart card. Commuters may also avail discounts on executive health check ups at the Kokilaben Dhirubhai Ambani Hospital and also on contact lenses at Sunayan Optics. There would be offers and discounts on mobile too.
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Monday, 11 August 2014

14:43

Realtors take advantage of ambitious Versova-Andheri-Ghatkopar Metro Rail system

Realtors take advantage of ambitious Versova-Andheri-Ghatkopar Metro Rail system

Mumbai: Taking advantage of the ambitious Versova-Andheri-Ghatkopar system, builders had hiked property rates of projects in the periphery of the infrastructure, citing the fast commute afforded by the location and the time and energy saved. Realty experts remain divided over the move.

The construction of the Metro rail in the Versova-Ghatkopar corridor is a godsend for builders, who had lost the opportunity to increase property rates of their projects that are adjacent to suburban local lines.

Builders had chosen to cash in on the Metro by hiking the rates of the projects near the corridor at regular intervals, citing the fast commute afforded by the location and the time and energy saved. This trend of hiking rates ended when the commercial run of the Metro started and by then builders had hiked the rate by 12-15 per cent. In the non-Metro corridor, however, the increased rate was upped by eight to 10 per cent in the last year.
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