Development Watch – June ’22 Week #3
Development News
Cover Image Source: The Economic Times
Indian Airports to be Carbon Neutral by 2024
Delhi International airport has already become Asia Pacific’s first Level 4+ carbon accredited airport. Ministry of Civil Aviation (MoCA) has collected carbon emission data from airports followed by a knowledge sharing session on airport carbon emission. mapping is done to standardize carbon accounting. MoCA is also creating awareness on reporting framework and on climate change mitigation targets and measures.
The goal is also to achieve net zero emissions by 2030. Further assessment will be done to assess reduction in energy consumption, innovation, green supply chain, waste management and GHG emissions. Airport Authority of India has also installed solar power plants under net metering/captive mode at various airports. Cochin airport is fully powered by solar energy while Bangalore International Airport consumes nearly 100% renewable electricity.
More than 300 trains affected due to Agnipath protests
On June 17, 164 trains were cancelled in East Central Railways, 34 in North Eastern zone, 13 in Northern Railways and around 3 in NE Frontier Railways. The total number of affected trains stands at 340. This includes passenger trains, mail and express trains. Coaches of 7 trains have been set ablaze by protestors. Southern Railways short-terminated all trains moving from its jurisdiction towards Bihar, Jharkhand and eastern UP. These areas are worst-hit due to widespread protests. Few trains’ operations are being closely monitored amidst the agitations.
Proposal for 1900 Cr Ro-Ro services coastal ferry project
The Shipping Ministry is developing an ecosystem for promotion of Ro-Ro (Roll-on, Roll-off) ferry and waterway transportation in the country. The Ministry is supporting 45 projects within “Sagarmala” with a total cost of INR 1,900 Crores. Ro-Pax ferry service between Ghogha-Hazira in gujarat and Mumbai-Mandwa in Maharashtra has been operationalized. Additional projects are planned in Andhra Pradesh, Odisha, Tamil Nadu and goa, along with Gujarat and Maharashtra.
India’s Data Centre Capacity to double by 2025
As per a CRISIL report, Data Centre Capacity in India is expected to double to up to 1,800 MW by 2025 from 870 MW last fiscal. The launch of 5G services by end of 2023 will further boost demand for data and storage capacities. Corporate embrace of advanced technologies and digital infra, and increasing use of smart devices by individuals has caused rise in data and cloud usage. This has created huge demand for data centers and will need an investment of over 40,000 crores. 1/3rd of the cost will be for acquiring land, 20% for sub-stations. Electricity accounts for 40-50% operating expenses and share of renewable power is presently only 15%.
Data centers are also emerging as an attractive asset class in India. Mumbai accounts for around 50% of the existing capacity in the country, followed by Hyderabad, Chennai and Pune. Growth in data storage capacity is supported by access to sub-sea cables, optic-fibre connectivity, uninterrupted power supply and skilled manpower. Government norms on data localization, storage of sensitive data within the country, and digital initiatives are other driving factors.
RBI allows Financing for Self-Redevelopment projects in Mumbai
RBI has allowed cooperative banks to grant finance to commercial real estate – residential housing segment, within the existing aggregate housing finance limit of 5%. It will boost self-redevelopment of housing societies in Mumbai. It will also open more liquidity and financing avenues for projects involving redevelopment and rehabilitation. Mumbai’s property market has few vacant land parcels. State co-op banks and district Co-op banks will now be able to grant loans to housing societies opting for self-redevelopment, instead of handling over the project to a developer. Self-redevelopment also allows additional area and additional corpus over and above what the developer usually offers.
Transit-Oriented hub in Karkardooma to be ready by 2024
Delhi’s first integrated development under TOD norms at Karkardooma in East Delhi will be ready by 2024. The hub in Karkardooma area is being developed on 63 acres of land. It will have 15 million sq ft of built up area with 30 residential and commercial towers around Delhi Metro’s Pink and Blue line corridors. Designed by CP Kukreja Architects, this would be a pilot project for TOD in India. It will have an architectural typology that responds to the transit network and movement patterns of the city. The high-rise development would free up a considerable area of open, green spaces in the vicinity.
Local Feedback
LocalFeedback.org aims to track and document actionable parameters that help improve urban and rural infrastructure. The founder, Susmita, has juggled diverse roles in real estate, project budgeting, valuation and execution on construction sites. Having traveled to more than 20 countries, she has worked across 4 regions in India. Her areas of interest include sustainable buildings, electric mobility and urban development. She visited top-ranking cities on livability indices and has presented published papers at international conferences.