#RealtyNewsRoundup: Odd-Even Formula Made Little Impact, Says Study

Description

About 10 years after the initial planning was done, the Brihanmumbai Municipal Corporation will now be able to develop the Rs 1,800-crore Malad sewage treatment plant. It would be possible to make the ambitious project a reality, after the Central government relaxed norms and allowed construction of sewage plants in coastal regulation zone-I, if the civic body had no alternate space to treat wastewater before discharging it into the sea.

According to a joint study by atmospheric scientists of India's top engineering and management institutes, the IITs and the IIMs, the odd-even vehicle restriction scheme introduced in national capital Delhi could reduce pollution levels by only around two to three per cent. The formula was introduced for the first time in the national capital in January 2016. According to the scientists, such measures might fail to generate any significant results for Delhi, counted among the most-polluted cities in the world.

According to a media report, Piramal Fund Management is extending a fresh loan of Rs 18,000 crore to Mumbai-based real estate developer Lodha Group. Citing sources, the report added that the developer will be using this funding to complete ongoing projects in Mumbai and Thane, apart from paying of parts of its debt. The group, known for its premium residential offerings, is currently developing an estimated 43 million square foot of space.

According to the World Trade Center Association, the World Trade Center in Noida will be fully operational by 2020. After it comes into operation, the branch in Noida would be the biggest World Trade Center branch in the world yet, spread across at 44 acres.

Source: Media reports