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Mumbai: BMC to transfer Rs 500 crore to MMRDA in phases
Updated On: 20 July, 2024 06:56 AM IST | Mumbai | A Correspondent
State government’s UD department orders total payment of Rs 4,960 crore for Metro project; BMC ready for further payments
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Brihanmumbai Municipal Corporation head office at CST. Pic/Ashish Raje
The Brihanmumbai Municipal Corporation (BMC) is set to give R500 crore to the Mumbai Metropolitan Development Authority (MMRDA) in two phases. The BMC has already paid Rs 2,000 crore to the MMRDA. The state government’s Urban Development (UD) department ordered the BMC on March 15, to pay a total of Rs 4,960 crore for the Metro railway project.
The BMC had collected an additional 1 per cent development charge while granting construction permissions to the builders since October 13, 2016. At the start of 2024, the state government asked the BMC to pay Rs 4,960 crore, which was collected as an additional development charge. The BMC paid Rs 2,000 crore after receiving the order from the state government. In the next phase, the BMC is ready to pay Rs 500 crore.
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