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Mumbai, Feb 25 () Toll road firm IRB Infrastructure Developers on Tuesday said it has bagged a contract for operating and collecting toll on Mumbai-Pune Expressway project under the toll-operate-toll model. The company has received a letter of acceptance (LoA) from Maharashtra State Road Development Corporation (MSRDC) for a period of 10 years and two months. The concession includes collection of toll and operation and maintenance activities on the expressway and old Mumbai-Pune highway NH-48 for the period up to April 30, 2030, the company said in a statement. As per the contract, IRB will have to pay Rs 8,262 crore to MSRDC for the rights for collecting toll, which would include an upfront payment of Rs 6,500 crore and a further staggered payment of Rs 850 crore each in second year and third year, and Rs 62 crore in fourth year. "The company will take possession of the project from March 1, 2020 and commence tolling and O&amp;M activities," IRB said. Commenting on the development, company's chairman and managing director Virendra Mhaiskar said, "We had managed this project for 15 years from 2004 to 2019 and hence we feel that it will help us in managing the project well and meet the expectations of all stakeholders." During the earlier concession period, IRB had paid Rs 918 crore to MSRDC for bagging the project. After the concession agreement lapsed in August last year, MSRDC had handed over toll collection on the stretch on temporary basis to Sahkar Global. Meanwhile, toll rates on the expressway are expected to increase from April 1 for three years after the appointment of new concessionaire. As per a government notification, the new toll rates for cars will increase from Rs 230 to Rs 270, while for mini buses it will go up from Rs 355 to Rs 420 for trucks, and it will rise from Rs 493 to Rs 580 for heavy axle vehicles. For buses, it will increase from Rs 675 to Rs 797, and for large trucks it will rise from Rs 1,165-1,555 to Rs 1,380-1,835. PSK RVK

IRB Infrastructure bags contract for operating, collecting toll on Mumbai-Pune Expressway

New Delhi, Feb 14 () IRB Infrastructure Developers on Friday reported a 27 per cent decline in consolidated profit after tax (PAT) at Rs 159.73 crore for the quarter ended December 2019. The infrastructure company had clocked a consolidated PAT of Rs 218.90 crore for the corresponding period a year-ago, it said in a regulatory filing to the BSE. Total income for the quarter declined to Rs 1,790.17 crore as against Rs 1,835.02 crore in the year-ago period. Total expenses increased to Rs 1,534.36 crore, from Rs 1,446.82 crore earlier. The company's Chairman and Managing Director Virendra D Mhaiskar said, "Our execution pace continues to be strong and the quarter marked a return of traffic growth - presumably led by slight pick-up in economic activity across India. With Goa Kundapur project getting commissioned, all of our projects are now revenue generating." He added the company is expecting closure of deal with GIC affiliates soon and also a decision on the Mumbai-Pune expressway project. "Also, we are keenly evaluating a large pipeline of upcoming bids, comprising approx. Rs 10,000 cr TOT (toll-operate-transfer), Rs 26,000 cr BOT (build-operate-transfer) and Rs 48,000 cr HAM (hybrid annuity model) projects, expected to be awarded over the next 1-3 quarters," Mhaiskar said. The company said it has received provisional completion certificate for Goa/Karnataka Border-Kundapur four-laning project on NH-17 and has started tolling. All approvals for transferring nine road assets to the IRB Infrastructure Trust are in place, the statement said. The company has emerged as the single bidder for prestigious Mumbai-Pune Expressway TOT project and is awaiting final outcome from the authorities. Toll collection has seen a growth of 9 per cent QoQ for ongoing concessions. IRB Infrastructure Developers Ltd (IRB) is a private roads and highways infrastructure developer having a track record of constructing over 12,600 lane kms in two decades. NAM ABM

IRB Infra Q3 PAT down 27 pc at Rs 160 cr

New Delhi, Jan 26 () The government plans to complete three of the 22 expressways and green corridors in the next three years, including the flagship Delhi Mumbai Expressway being built at a new alignment, Union minister Nitin Gadkari has said.
These 22 projects comprising 7,500 km of greenfield expressways and corridors are planned to be completed by FY25 at a cost of Rs 3.10 lakh crore.
"We will complete the flagship Delhi Mumbai Express Highway in the next three years. The work will be done in 51 packages and work has already been started on 18. This will be India's longest expressway at 1,320 km and will reduce travel time between Delhi and Mumbai from 24 hours to 13 hours," the road transport and highways minister said.
Of the projects, six are 2,250 km expressways to be built at a cost of Rs 1.45 lakh crore.
The remaining 16 are greenfield corridors, including 5,250 km projects to be constructed at a cost of Rs 1.65 lakh crore 
 Besides Delhi Mumbai Expressway, the minister said the trans-Rajasthan and trans-Haryana projects will be completed within the next three years.
About Delhi Mumbai Expressway, he said greenfield alignment has been selected to avoid habitation and optimise cost of land acquisition.
"We have saved about Rs 16,000 crore on land acquisition front alone as land could be acquired at a cost of Rs 80 lakh per hectare for the project," he said, adding that the expressway will unlock new economic opportunities in hinterland districts of Haryana, Rajasthan, Madhya Pradesh and Gujarat.
The expressway has been taken from concept to award in a record time-frame of less than a year.
He said the new projects will provide alternate routes to diversify traffic, improve geometry/alignment and provide connectivity for major towns, thereby reducing distance and travel times
Besides, these will mitigate issues like land acquisition, utility shifting and other clearances related to brown-field expansion of existing alignment and provide thrust to the economy of backward regions by improving infrastructure, the minister said. NAM ABM
ABM

Three expressways/green corridors to be completed in 3 yrs; 22 to be built at Rs 3 L cr: Gadkari

<ul><li><keyword id="490067" type="ENTERTAINMENT" weightage="20" keywordseo="Bullet-train">Bullet train</keyword> tracks alongside the <keyword id="3120794" type="LOCATION" weightage="20" keywordseo="Mumbai-Nagpur-Expressway">Mumbai-Nagpur expressway</keyword> proposed. </li><li>When functional it will drastically cut down travel time along the 800 km stretch. </li><li>Spanish consultant Ineco’s feasibility study gave the project a green light </li></ul>A joint venture between the <keyword id="168381" type="ORGANIZATION" weightage="20" keywordseo="ministry-of-road-transport">Ministry of Road Transport</keyword> and Highways and the <keyword id="6356031" type="UNKNOWN" weightage="20" keywordseo="Indian-Railway">Indian Railway</keyword> might soon give rise to a first of a kind coordinated transportation project. The project is a rail line along the proposed Nagpur Mumbai expressway for Bullet train and once functional, this will cut down the travel time between the two cities drastically. The ministry is already in the process of acquiring land for it and the rail lines might come up in the middle or parallel to the 800km highway. For this, bridges, tunnels and flyover constructions will also be necessary and will be done in accordance with the ground situation and the feasibility report drawn up by Spanish consultants Ineco. “Spanish consultant <a href="https://www.ineco.com/webineco/">Ineco</a> has conducted a feasibility study on constructing a high-speed rail line along the proposed Mumbai-Nagpur Expressway and the reports are positive,” a senior <keyword id="54441" type="ORGANIZATION" weightage="20" keywordseo="Railway-ministry">Railway Ministry</keyword> official told <a href="http://www.ians.in/">IANS.</a> The Mumbai-Nagpur expressway is a part of the diamond quadrilateral, and this rail project will reduce the travel time for both on road and train travellers since the elevated rail tracks and fully <a href="https://www.financialexpress.com/infrastructure/railways/bullet-train-to-come-up-along-new-mumbai-nagpur-expressway-first-of-its-kind-project-likely/1191774/">access-controlled expressway</a> will ensure an uninterrupted high-speed journey.

India’s first-of-its-kind Bullet train project might be a reality soon

New Delhi, Mar 3 () A parliamentary panel on Tuesday suggested lower GST rate for the automobile segment at least till the revival of the sector, and uniform road tax across all states against the backdrop of negative growth in the automobile production since July 2018. A parliamentary panel had examined the Demands for Grants 2020-21 of Department of Heavy Industry (DHI) and tabled its report in Parliament. The automobile industry in India is one of the largest and fastest-growing sector and constitutes 27 per cent of industrial gross domestic product (GDP) and 49 per cent of manufacturing GDP. It provides about 37 million direct and indirect jobs and 15 per cent of total GST collection amounting to Rs 1.5 lakh crore. "But, the committee observes that of late, there is a negative growth in the automobile production since July 2018," said the report. The committee noted that some of the factors that contributed to slowdown are non-availability of credit facility to consumers, stringent rules for loan sanction by banks, rise in price due to the upfront payment of third-party insurance for 5 years, introduction of BS-VI vehicles from April 2020; and higher rate of GST on automobiles and components. Amid slowdown in the sector, the committee, among other things, recommended to either suspend or postpone the upfront payment of insurance for 5 years for the time being and reduction in GST rate to a lower slab "at least till the revival of the auto sector". Further, it made a case for introduction of incentive-based scrappage policy for creating purchase demand for new vehicles, reduction in import duty on lithium-ion cell battery which is used for operating the e-vehicles and levy of uniform road tax across all states. The report said the committee "is pleased to note" that the Delhi-Chandigarh highway has been declared as the first e-vehicle friendly expressway of the country. It desires that other expressways, including Delhi-Jaipur and Mumbai-Pune expressways, may also be made completely e-vehicle friendly soon with charging infrastructure in place at regular and frequent intervals. RSN NKD HRS

Parliamentary panel suggests lower GST rate for auto sector

(Photo Source: TravelTriangle) <ul><li>The Delhi-Mumbai expressway which recently got underway is being planned in a way that is expected to cut the tiger passage between India’s Ranthambore National Park (RNP) and Ramgarh Vidyashri Tiger Sanctuary that may disturb the natural surroundings to tigers. </li><li>The expressway, which is planned to be 1,250 km long, as National <keyword id="6354768" type="ORGANIZATION" weightage="20" keywordseo="Highway">Highway</keyword> Authority of India (NHAI) has given its consent to build six lane road from Western Peripheral Expressway (WPE), will now extend up to ring road near DND flyway. </li><li> It will trim the road-distance to Mumbai to 12 hours, which currently takes 24-48 hours. </li><li>The project, which has been approved under the Bharatmala programme, will be completely funded by NHAI and is expected to cost nearly ₹600 billion.</li></ul>The Delhi-Mumbai expressway which recently got underway in December, is being planned in a way that is expected to cut the tiger passage between Ranthambore National Park (RNP) and Ramgarh Vidyashri Tiger Sanctuary, a move that may <a href="https://timesofindia.indiatimes.com/city/delhi/proposed-delhi-mumbai-expressway-faces-rajasthan-tiger-habitat-hurdle/articleshow/67224179.cms">disturb the natural surroundings to tigers</a>. According to experts, this passage should be kept undisturbed so as to allow movement of cats along the corridor, which may be compromised once the expressway is functional. The expressway has now been given greenlight by National Highway Authority of India (NHAI) to build six lane road from Western Peripheral Expressway (WPE) and is <a href="https://timesofindia.indiatimes.com/city/delhi/mumbai-e-way-to-come-into-delhi-manesar-to-get-closer/articleshow/67249427.cms">planned to extend</a> up to ring road near DND flyway. Originally, the expressway is planned to be 1,250 km long, which is aimed to provide a smooth route to commuters that can run vehicles at a speed of 120 km per hour, will be a <a href="https://www.mumbailive.com/en/transport/delhi-mumbai-express-work-on-fast-track-land-acquisition-on-progress-30856">signal-free </a>one. The expressway is expected to be an alternative fast-track route to Manesar in Haryana from from east and South Delhi, easing local traffic congestion. It will <a href="http://v">trim the road-distance</a> to Mumbai to 12 hours, which currently takes 24-48 hours. The six-lane road stretching over 59 kms has been planned to diverge into four sections including the first patch of 7.3 km from DND flyway over river Yamuna. The expressway is expected to bring a huge relief to commuters from residents of National Capital Region. The project will have 13 flyovers, two rail-bridges and nearly 10 minor bridges. The project, which has been approved under the Bharatmala programme, will be completely funded by NHAI and is expected to accept bids by August next year, Times of India reported. Overall, the project is expected to cost nearly <a href="https://www.mumbailive.com/en/transport/delhi-mumbai-express-work-on-fast-track-land-acquisition-on-progress-30856">₹600 billion</a> from Delhi making way to Maharashtra via Haryana , Gujarat, Rajasthan and Madhya Pradesh. See also: <a href="https://www.businessinsider.in/indias-longest-railroad-bridge-has-the-capacity-to-land-fighter-jets-and-battle-tanks/articleshow/67251655.cms">India’s longest railroad bridge has the capacity to land fighter jets and battle tanks</a> <a href="http://v">India plans to build 11 emergency airstrips on its national highways</a> <a href="https://www.businessinsider.in/the-indian-capitals-new-eiffel-tower-is-supposed-to-a-be-structure-that-says-namaste/articleshow/66510509.cms">The Indian capital’s new ‘Eiffel Tower’ is supposed to a be structure that says ‘Namaste’</a>

Delhi-Mumbai expressway: The proposed project may be a threat to tiger species in India

New Delhi, Nov 15 () Housing prices in Gurugram and adjoining areas have dropped 4 per cent in the last one year, while Noida and Greater Noida saw one per cent increase, according to brokerage firm PropTiger.
 The weighted average basic selling price (BSP) in Gurugram declined to Rs 4,868 per sq ft in July-September period from Rs 5,055 per sq ft a year ago, News Corp-backed PropTiger said in its report Real Insight.
 Gurugram area includes Bhiwadi, Sohna and Dharuhera. 
 However, rates in Noida (including Greater Noida and Yamuna Expressway) rose marginally to Rs 3,921 per sq ft from Rs 3,886 per sq ft during the period under review. 
 As per the report, the combined housing sales in both Gurugram and Noida regions fell 47 per cent during the July-September period to 5,569 units.
 Sales in Gurugram fell by 31 per cent to 2,742 units in July-September this year from 3,988 in the corresponding period of last year, while demand plunged by 57 per cent to 2,827 units from 6,528 units.
 In new supply, Gurugram saw an increase of 27 per cent to 2,353 units from 1,851 units, but Noida witnessed fall of 55 per cent to 736 units only from 1,647 units. 
 As on September 30, 2019, builders in the two cities had an unsold stock of 1,06,317 units as against 1,15,598 units a year ago. 
 In its report, PropTiger tracks sales, launches, prices in residential markets of nine cities - Mumbai Metropolitan Region (including Navi Mumbai and Thane), Pune, Noida (including Greater Noida and Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera and Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
 PropTiger.com is part of Elara Technologies that also owns Housing.com and Makaan.com. MJH ANS
ANS

Housing prices in Gurugram down 4 pc in last one year; Noida sees marginal rise: PropTiger

New Delhi, Feb 13 () Union minister Nitin Gadkari on Thursday urged industry players to join hands with the government for the proposed electric lane on Rs 1.03 lakh crore Delhi-Mumbai Expressway while promising to provide policy support to serious players. He said while a stretch of the Delhi-Mumbai Expressway is planned as electric lane, the Delhi-Jaipur part of the 1,320 km expressway will be completed before Diwali. "Indian investors should come forward for investing in electric lane stretch of the Delhi-Mumbai expressway to be built at a cost of Rs 1.03 lakh crore within three years," the Road Transport and Highways Minister said while addressing a conference on 'Developing a Roadmap for Low Carbon &amp; Sustainable Mobility in India' by FICCI here. The minister said the government is ready to provide policy support to serious investors and also appealed them to come forward in the field of alternative fuel including bio-CNG and electric vehicle. The could cut on India's huge Rs 7 lakh crore crude imports, he said. Stressing on modern transport infrastructure, he said he will also take up the issue of electric highways during his ensuing visit to Sweden this month. The minister also said that electric vehicles have become popular among Indian companies and start-ups, and days were not far-off when India will be a key player in export of electric vehicles. He also said that water transport was one of the viable mobility solutions and added that metros could be successful in tier 2 and 3 cities. Besides Delhi-Mumbai Expressway, work has been initiated on six other express highways out of proposed 22 projects, he said. The entire Delhi Mumbai Express Highway will be completed in the next three years, the minister said, adding that land acquisition for the project has been completed and resulted in savings to the tune of Rs 16,000 crore on it being on a new alignment. "We have saved about Rs 16,000 crore on land acquisition front alone as land could be acquired at a cost of Rs 80 lakh per hectare for the project," he said, adding that the expressway will unlock new economic opportunities in hinterland districts of Haryana, Rajasthan, Madhya Pradesh and Gujarat. NAM MRMR

Gadkari invites players for electric lane of Delhi-Mumbai Expressway

Be it land, apartments or commercial realty, every investor wants to own a property on which he can get attractive returns. But, investing in <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword>, especially in cities and metropolitans, is an expensive affair. 
 
In such a scenario, investing in offbeat locations, which require modest investment, could prove to be beneficial. It is the fringes of the cities that are giving attractive investment options today. 
 
The potential is being tapped by developers, who are offering better options to investors in these suburbs. If chosen wisely, these offbeat options can offer significant returns over low investments. 
 
Earlier also, we had highlighted few offbeat locations in Maharashtra and Tamil Nadu that could be a great investing option. Here are few more places that have great scope for investment. 
 
Nagpur, Saswad, Raigad- Maharashtra 
 
These three places in Maharashtra are well-connected with rest of the Maharashtra and are becoming popular among investors. Let’s start with Nagpur. 
 
Nagpur: It is the third largest city of Maharashtra and as per a recent survey, conducted by ABP News-Ipsos, Nagpur has been identified as best city in India. 
 
Nagpur is one of the emerging metropolises and has registered significant growth, making it an attractive destination for real estate developers. There are several development projects underway here. The multi-modal International Cargo Hub and Airport at Nagpur (MIHAN) is the biggest development project, which aims to convert airport into a cargo hub with integrated road and railway connectivity. 
TCS, one of the India’s largest IT company, is building campus in the city and Infosys has also started construction of its Nagpur campus. The city has several prestigious educational institutes as well. 
 
Nagpur will soon have its own metro. Recently, the Maharashtra government signed a Memorandum of Understanding (MoU) with Cisco for making Nagpur a smart and safe city. 
 
Also, Nagpur is a few hours away from Mumbai and Pune. Besides the economic and infrastructural developments, the city also has various public attractions. Sitabuldi Fort and Seminary Hill are few of the attractive tourist locations in Nagpur. 
 
Saswad: Saswad is just 31 km away from Pune railway station and is well connected via city buses too. 
 
The area is in proximity to Jejuri MIDC and Lonand MIDC, amongst others. Saswad also has a number of educational institutes such as Saint Joseph English Medium School, Waghire High School and Waghire College. 
 
Saswad is an ideal location for tourists and is a weekend getaway. The area has many attractive tourist destinations like Jejuri, Malhargad Fort and Purandar Fort amongst others. The place is a perfect match for trekking and exploring. The area has a rich history and cultural heritage. 
 
The location will be viable for land or second home investment. The city is still developing and owing to its proximity to Pune, it has the potential for growth. You can enter with low investment and end up getting profits. The prime benefit in investing in this area is in close proximity to industrial areas, metropolitan city and tourist spots. The infrastructural development in and around the area makes it ideal for investment especially in land. 
 
Raigad: Raigad, a district in Maharashtra, is 84 km away from Mumbai and 110 km from Pune. Panvel, Alibag, Mangaon, Roha, Pen, Khopoli, Kharghar, Taloja, Khalapur, Uran, Patalganga, Rasayani, Nagothana, Poladpur, Alibag, Karjat and Mahad fall under this district. 
 
Raigad is connected to Mumbai through Sion-Panvel Expressway and is accessible via Mumbai-Pune expressway, NH-7 and NH-17. The Maharashtra government is working on a proposal to develop a private smart city at Pen in Raigad district. 
 
Raigad is close to places like Lonavala and Khandala and the presence of Adlabs Imagica, Ballaleshwar Ashtavinayaka temple in the vicinity makes it an ideal location for a getaway. 
 
The area has institutes like Dr. Babasaheb Ambedkar Technological University, which is the only technical university in Maharashtra. The location has tremendous growth potential making it a promising investment destination. 
 
Trichy, Tamil Nadu 
 
Tiruchirappalli, also known as Trichy, is on the smart city list. Located 322 km south of Chennai and 379 km north of Kanyakumari, it is the fourth largest urban agglomeration in the state. 
 
The city was ranked second cleanest city, according to recent Swachh Bharat Abhiyan survey. 
 
Trichy is a major engineering equipment manufacturing and fabrication hub. Industrial units such as Bharat Heavy Electricals Limited (BHEL), Golden Rock Railway Workshop and Ordnance Factory Tiruchirappalli (OFT) have factories here. This has lead to significant rise in employment opportunities. 
 
The city is well connected with government owned buses and auto-rickshaws. Trichy is located in close proximity to two prominent National Highways, NH 45 and NH-67. The Railway Heritage centre was inaugurated in 2014 and International airport is only five km away from the main city. The city has various reputed educational institutes like Indian Institute of Management, National Institute of Technology amongst others. Buying land or second home in the city or at the outskirts will be beneficial because of the infrastructural growth in and around the city. 
 
All in all, adding these destinations in your investment portfolio can be a wise decision. Apart from selecting the right location, it is equally important to choose a well reputed developer. It would be ideal to select a developer who has lot of projects in the outskirts and considerable knowledge to manage such investments. 
 
(Author of this article is Lansel D`souza, Senior Vice President, Expat Projects and Development Pvt. Ltd.) 
 
(Image: Thinkstock)

You Searched For "Yashwantrao Chavan Mumbai Pune Expressway" and got 11 results

IRB Infrastructure bags contract for operating, collecting toll on Mumbai-Pune Expressway

PTI

IRB Infra Q3 PAT down 27 pc at Rs 160 cr

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Three expressways/green corridors to be completed in 3 yrs; 22 to be built at Rs 3 L cr: Gadkari

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India’s first-of-its-kind Bullet train project might be a reality soon

BI India Bureau

Parliamentary panel suggests lower GST rate for auto sector

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Delhi-Mumbai expressway: The proposed project may be a threat to tiger species in India

BI India Bureau

Housing prices in Gurugram down 4 pc in last one year; Noida sees marginal rise: PropTiger

PTI

Gadkari invites players for electric lane of Delhi-Mumbai Expressway

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