The Mumbai Metropolitan Region Development Authority (MMRDA) has invested Rs 19,141.63 crore so far in developing metro corridors and last-mile connectivity to metro stations. As per the agreement, the Brihanmumbai Municipal Corporation (BMC) is responsible for covering 25% of this cost, which amounts to Rs 4,959 crore, from the 1% development charge levied on real estate projects.
The MMRDA is currently working on seven metro rail corridors to enhance connectivity in the metropolitan region. The authority has already spent Rs 19,144 crore and is seeking the BMC’s contribution of Rs 4,959 crore. According to directives from the Unified Mumbai Metropolitan Transport Authority (UMMTA) in October 2016, the BMC is also required to contribute 50% of the cost for multimodal integration outside metro corridors. But the BMC is only willing to pay Rs 2,500 crore, which is not even 25% of the total cost.
Source: Construction World
