Maharashtra Enhances Mumbai Airport Area Development with TDR Benefits

15 Jul 2024 CW Team

Maharashtra state government has introduced Transfer of Development Rights (TDR) benefits to accelerate the development around Mumbai's Chhatrapati Shivaji Maharaj International Airport. This strategic move aims to incentivize infrastructure development and urban planning in the airport's vicinity, fostering sustainable growth and enhancing connectivity.

The implementation of TDR benefits allows developers to utilise additional construction rights in other parts of Mumbai in exchange for undertaking infrastructure projects near the airport. This initiative is expected to spur investment in residential, commercial, and hospitality sectors, catering to the growing demand in one of India's busiest metropolitan regions.

The policy seeks to optimise land use and promote balanced urban development while addressing infrastructure challenges associated with rapid urbanisation. By leveraging TDR benefits, the government aims to create a conducive environment for integrated development around the airport, enhancing its operational efficiency and passenger amenities.

The decision comes amidst efforts to transform Mumbai into a global aviation hub and improve its overall infrastructure landscape. It underscores Maharashtra's commitment to supporting sustainable urban growth and economic development through innovative policy measures like TDR, ensuring that developmental benefits are maximised across the city.

With Mumbai's airport area poised for significant expansion and development, the introduction of TDR benefits is expected to attract substantial investment and reinforce the city's position as a key economic and commercial centre in India.

Infrastructure Urban

16 May 2025

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Infrastructure Urban

16 May 2025

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Infrastructure Urban

16 May 2025

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..