Puravankara on Saturday announced that its wholly-owned subsidiary, Purva Oak has acquired a 12.75-acre land parcel in Patlipada on Ghodbunder Road, Thane. The land has a potential carpet area of 18.20 lakh square feet and a potential gross development value (GDV) of ?4,000 crore, it said.

PUNE: The Pune Metropolitan Region Development Authority (PMRDA) will sign a Memorandum of Understanding with the Singapore government for drawing up a development plan for PMRDA region spread over an area of 7,246 sqkm. PMRDA commissioner Kiran Gitte said that the MoU will be signed on May 16 in Mumbai with officials from the Singapore government. Consultants from Singapore will be appointed for drawing up the DP of PMR region. The government decided to appoint Singapore town planners after doubts were raised over the efficacy of state town planners. Union road transport minister Gadkari in an interaction with PMRDA officials had said that urban planners in the state lacked expertise. According to Gitte, officials from Singapore will work closely with PMRDA authorities for 10 months and ready the development plan, which will be an economic development plan unlike the land use plan developed by town planners in the state. “A 50-year development plan for the region will be drawn up by consultants from the Singapore government and all aspects will be looked into said Gitte. Earlier, the Singapore consultants had worked in Andhra Pradesh capital Amravati on similar lines. The chief minister had earlier visited Singapore and met Prime Minister Lee Hsien Loong to draw investment for Pune’s development. For this project, 60 % of the cost will be borne by PMRDA and the rest by the Singapore government. The DP project is estimated to cost between Rs 10-15 crore.

MUMBAI: Realty developers bodies CREDAI CREDAI MCHI and CREDAI Maharashtra have entered into two separate agreements with the government of Maharashtra to develop over 9 lakh affordable houses across the state between 2018 and 2022 to support the government’s objective of ‘Housing For All by 2022. Members of the developers’ body the Confederation of Real Estate Developers Association of India or CREDAI MCHI will be building 2.5 lakh homes in Mumbai Metropolitan Region.

Making Pune a smart city is estimated to cost Rs 3,480 crore. The civic standing committee approved the project proposal for the Smart Cities Mission submitted by the Pune Municipal Corporation (PMC) on December 2. The cost given by us is a primary estimate and we have kept scope for changes as per future needs, municipal commissioner Kunal Kumar told TOI. The cost includes expenses on the pan-city section and area development projects, as well as their maintenance. Kumar said the administration has to send the plan to the Union government by December 15. Before that, the administration will seek final approval from the civic general body. A special general body meeting has been organised for this purpose on December 9. To fund the smart city projects, the Union and state governments and the PMC will generate funds of around Rs 1,000 crore. The rest of the funds will have to be raised through loans, municipal bonds and other options. The civic body has proposed to develop Aundh-Baner as a model area under the mission. Each of the 98 contenders for the missions has to submit city-level plans to the Union government. The plans will be assessed based on the city-level criteria, area-based development features and pan-city solutions. Based on suggestions from states and urban local bodies, the weightage for pan-city solutions has been increased from 10% to 15%. The proposal was approved in the meeting. We hope that the city will win the final competition to be named as one of the smart cities in the country, said Ashwini Kadam, head of the standing committee.