Mumbai Rains: NAREDCO Maharashtra postpones annual real estate event as heavy rains lash the financial capital
The event, themed 'Reimagining Maharashtra: Global Alliances to Local Impact,' was scheduled to be held on August 20. It is billed as India's largest real estate gathering, bringing together government authorities, sector experts, innovators, and changemakers. Maharashtra Chief Minister Devendra Fadnavis and Mumbai Municipal Commissioner Bhushan Gagrani were among the expected attendees.
NAREDCO said the decision was taken in view of the continuous heavy rains in Mumbai on August 18 and 19.
Also Read: Mumbai Rains: Housing transactions impacted as homebuyers' walk-ins slow down during monsoon
'As per the India Meteorological Department (IMD) advisory on heavy rains and uncertain weather conditions, The Real Estate Forum 2025 scheduled on 20th August, 2025 has been postponed,' said a statement by NAREDCO Maharashtra.
Also Read: 'South Mumbai… ₹20 cr flats': Rain floods city, and social media with rage
Several districts in Maharashtra, including Mumbai, Pune, Thane, and Raigad, witnessed intense rainfall on August 18 and 19. Mumbai alone recorded over 300 millimetres (mm) of rainfall on August 19, leading to severe waterlogging and flight disruptions.
Also Read: Mumbai rains: Here's how waterlogging impacts the financial capital's real estate market
Chief Minister Fadnavis said on August 19 that the next 48 hours would be 'extremely crucial' for districts under the IMD's red alert. He noted that Mumbai had received 300 mm of rainfall in the 24 hours between 8 am on August 18 and 8 am on August 19, with more than 200 mm falling in just 11 hours on August 19.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Indian Express
17 hours ago
- New Indian Express
Maharashtra government inks MoUs worth Rs 42,000 crore ahead of local polls
MUMBAI: Ahead of the upcoming local body elections, the Maharashtra government has given a major push to urban infrastructure by signing eight memoranda of understanding (MoUs), paving the way for investments worth over Rs 42,000 crore and generating 25,000 jobs. Chief Minister Devendra Fadnavis said that Maharashtra is turning into a 'Data central capital' and 'capital of solar power'. He added that the huge investment is coming in both the data and solar power sectors. 'The eight MoUs have been signed with an expected investment of Rs 42,892 crores, and that will generate 25,000 jobs in the state. There is also a boost for the Hyperloop project. The big transformation is happening in the logistics, transport, and mobility sector across India, and Maharashtra is taking the big leap,' CM Devendra Fadnavis said. As per state government data, the state inked the Rs 10,900 crore investment with Jupitar International Ltd, which will invest in Solar power projects. This said investment will generate 8308 jobs in the state. Besides, an MoU with Rochak System Pvt Ltd for setting up the data centre with the investment of Rs 2508 crore and 1000 jobs will be generated.
News18
20 hours ago
- News18
Mumbai: Thane-Airport Corridor, Underground Metro To Gateway Of India Get Green Signal
One of the biggest highlights is the 25-km elevated corridor connecting Thane directly with the upcoming Navi Mumbai International Airport. The Maharashtra government on Tuesday approved the construction of a 25-km-long elevated corridor to link Thane with the upcoming Navi Mumbai international airport and also underground Metro Line 11 from Wadala depot in Mumbai to the iconic Gateway of India. The decisions were taken at a meeting of Cabinet Committee on Infrastructure chaired by Chief Minister Devendra Fadnavis. The panel cleared several major infrastructure projects aimed at boosting transport connectivity and urban development across key cities, including Mumbai, Pune, Thane, Navi Mumbai and Nagpur. A statement from CM office said Fadnavis hoped the initiatives would accelerate the state's development and modernise public transport systems. The committee approved the construction of additional railway lines to strengthen the Pune-Lonavala corridor. This will improve regional connectivity and ease traffic congestion in Pune, while also supporting industrial, residential, and commercial growth along the route, it said. Notably, ticket fares will remain unchanged, CM Fadnavis said. The cabinet cleared the construction of a 25-km-long elevated corridor to directly link Thane with the upcoming Navi Mumbai International Airport. The project will provide high-speed connectivity for commuters and businesses in the region. The much-anticipated Metro Line 11, a 16-km fully underground corridor from Wadala depot to Gateway of India, has been approved. The Rs 24,000 crore project will be funded by the Japan International Cooperation Agency (JICA). Key stations will include Shyama Prasad Mukherjee Chowk and Horniman Circle. The project also includes a joint commercial complex with BEST, generating additional revenue for the transport body. A new township has been approved for development in Nagpur, alongside the construction of a new ring road to support urban expansion and decongest existing routes, the statement said. As part of Phase 1 of the Pune Metro project, Balajinagar, Bibwewadi, Swargate and Katraj stations have been approved, further enhancing the city's urban mobility. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy. Loading comments...
Hindustan Times
a day ago
- Hindustan Times
State signs MoUs to attract over ₹42K crore investment
Mumbai: The state government signed MoUs with 10 companies in a bid to attract investment worth ₹42,892 crore focusing on solar and green energy, data centres, and other sectors. The memorandums of understanding (MoUs) were signed on Tuesday in the presence of chief minister Devendra Fadnavis. The state government may collaborate with these companies to facilitate the upcoming projects but the terms and conditions of the agreements are yet to be revealed. State signs MoUs to attract over ₹ 42K crore investment Among the companies was the Prestige Group which has announced plans to invest ₹12,500 crore towards developing a data centre, a global competency centre (GCC), and a logistics centre in areas around Navi Mumbai. The plan includes building residential and commercial facilities around the projects which will offer direct employment to 8,700 people. Prestige is one of India's leading real estate and infrastructure developers with a diversified portfolio spanning residential, commercial, retail, and hospitality infrastructure, along with logistics and data centres. 'The firm has planned a data center campus at Taloja by investing ₹5,000 crore, a competency center (GCC) at Navi Mumbai on a 100 acre plot and a logistics center on a 250 acres plot in Khalapur,' said CM Fadnavis in a post on X. Another company, Jupiter International Limited plans to invest ₹10,500 crore towards building a solar wafer manufacturing unit, a solar cell production unit, and a solar module manufacturing unit at Butibori in Nagpur. The project is expected to generate 8,300 direct jobs. Webmint Digital Private Limited too has signed an MoU with the state and has promised to invest ₹4,846 crore to develop a state-of-the-art hyperscale data centre at the Taloja industrial area in Navi Mumbai, which will create 2,050 jobs. LNK Green Energy, a successful company in the fields of solar energy, bio-fuels, and waste-to-energy projects, plans to establish a 6 GW (gigawatt) solar power manufacturing unit and module manufacturing facility, at Aurangabad Industrial City (AURIC) in Chhatrapati Sambhaji Nagar. The unit, involving a ₹4,700 crore investment, is expected to be the largest yet in the country, and will create direct employment for 2,500 people. Vow Iron and Steel Private Limited, a newly incorporated entity under the Pagariya Group, declared it would set up an integrated steel plant at Gondpipari, Chandrapur. It has agreed to invest ₹4,300 crore towards a project expected to begin next year which will create 1,500 direct jobs. A Pune-based IT infrastructure company, Rovision Tech Hub Private Limited focuses on delivering world-class data center services. It aims to empower enterprises with scalable, secure, and sustainable digital infrastructure, backed by a highly skilled workforce and global best practices. The project that has been planned at TTC industrial area in Navi Mumbai, will envisage an investment of ₹2,564 crore. A Mumbai-based IT services company, Rochak Systems Private Limited is also looking to establish a data centre campus at TTC industrial area in Navi Mumbai. The company will invest ₹2,508 crore and create 1,000 direct jobs. The Atlas Copco Group has also planned to set up a solar panel manufacturing unit at Dapodi, Pune by investing ₹575 crore. The state government signed two more MoUs with Global India Business Corridor (GIBC) and TuTr Hyperloop Private Limited. 'Through the MoU, GIBC will facilitate trade, investment, and economic cooperation, with the flexibility to engage with the companies from the UK and the European Union on a case-by-case basis. Meanwhile TuTr Hyperloop Private Limited will develop a Linear Induction Motor (LIM) based high-speed mobility system at Jawaharlal Nehru Port Trust (JNPT) and Vadhvan Port,' said a senior industries official. 'The project is expected to transform the state's logistics and transportation infrastructure, enhancing efficiency, reducing carbon emissions,' he added.
