#RealtyNewsRoundUp: Maha Govt Provides Rs 2,500-Cr Fund For Bandra-Versova Sea Link

The Maharashtra government will now provide gap funding of Rs 2,500 crore for the proposed Bandra-Versova Sea Link. The funds will be raised from the premium that it has collected by selling fungible floor space index (FSI) to developers. The sea link is a part of the 29-km coastal road project being executed by the Maharashtra State Road Development Corporation at a cost of Rs 9,500 crore.

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Looking at the water scarcity in the city, the Pimpri Chinchwad Municipal Corporation (PCMC) will now put on hold any new building permits for residential housing projects in localities, including Pimple Nilakh, Pimple Saudagar, Pimple Gurav, Wakad, Punawale, Tathawade, Ravet, Kiwale and Mamurdi.

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After the Noida authorities, in April, advised homebuyers and tenants in the city to make sure they do not live in units that are mosquito infected, the health department of Gautam Budh Nagar has come out with a directive for all gated communities, offices and hospitals to inspect the properties for presence of mosquitos. These structures, after the check, will have to issue an undertaking stating they would take action to prevent mosquito breeding sites. The department has already fined around 20 offenders under the UP Prevention and Control of Malaria, Dengue, Kala Azar and any Vector-Borne Diseases Regulations, 2016.

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After the Supreme Court last month ordered Amrapali group to deposit Rs 250 crore by June 15 as proof for liquidity, the developer has failed to do so. However, the developer has stated that it has arranged for Rs 500 crore from an external financier, no bank deposit has been made so far. 

Source: Media reports