Maharashtra government sanctions Rs 250 crore for Mumbai metro-3 line

The state government has sanctioned Rs 250 crore for the Metro line 3 project. It will be paid to Mumbai metro rail corporation ltd that is executing the project. This is the second tranche of the Rs. 500 crore budgeted for the project in this financial year. In January the government had paid Rs. 250 crore.

The project s being funded 50:50 ratio by the centre and state. As per the impact, 50% of taxes paid to the centre and cost of land acquisition, relief rehabilitation amounting Rs. crore state taxes is to be paid to MMRCL by the state government. This amounts to Rs 2421 crore. Til January this year, The government had paid nearly Rs 1,926 crore. With this tranche of Rs 250 crore, it would have paid MMRCL nearly Rs 2,176 crore.

The underground metro line project 3 was to be commissioned in 2019 in time for the then state elections but construction tunnels and stations has been delayed. Last year government extended the lease of over 3 lakh a=sq feet of Azad maidan by another three years as MMRCL said the work was delayed.

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