+
Nagpur civic body sought Rs 219 cr from MahaMetro for metro pillars
Real Estate

Nagpur civic body sought Rs 219 cr from MahaMetro for metro pillars

The Nagpur Municipal Corporation (NMC) seeks Rs 219.56 crore from MahaMetro for the land value on which the metro pillars were constructed of Aqua and Orange corridors of the Metro line.

The estate department of NMC calculated the land value according to the ready reckoner rates. According to a survey, MahaMetro has constructed the pillars on 32,512.5 sq m of land.

According to a senior official, NMC divided the land into four corridors: east, west, north and south. The pillars were constructed on 18,125 sq m of land on the east corridor, 10,687.5 sq m on the west corridor, 562.5 sq m on the north corridor and 3137.5 sq m on the south corridor.

According to the land value calculation, the civic body sought Rs 130 crore from the east corridor, Rs 64.6 crore from the west corridor, Rs 5.2 crore from the north and Rs 19.7 crore from the south corridor. It also sought Rs 859,21,08,510 as the land value for constructing buildings and stations at nine locations.

NMC and the National Institute of Technology (NIT) were to deposit Rs 434 crore each for the Rs 8,680 crore of the Phase-I of Nagpur Metro project.

NMC was to deposit Rs 73 crore in cash. It gave land for the metro project. It generated cash through transit-oriented development (TOD) and paid Rs 55 crore to MahaMetro.

The official said that NMC has already given land worth Rs 535 crore, which means it has paid extra to MahaMetro. It raised objections against the civic body for adjusting the land cost according to the ready reckoner rates.

The official said that MahaMetro had objected to the civic body's demand of levying land costs for erecting the Metro pillars.

Image Source

Also read: Nagpur civic body asked to handover station road project to Maha Metro

The Nagpur Municipal Corporation (NMC) seeks Rs 219.56 crore from MahaMetro for the land value on which the metro pillars were constructed of Aqua and Orange corridors of the Metro line. The estate department of NMC calculated the land value according to the ready reckoner rates. According to a survey, MahaMetro has constructed the pillars on 32,512.5 sq m of land. According to a senior official, NMC divided the land into four corridors: east, west, north and south. The pillars were constructed on 18,125 sq m of land on the east corridor, 10,687.5 sq m on the west corridor, 562.5 sq m on the north corridor and 3137.5 sq m on the south corridor. According to the land value calculation, the civic body sought Rs 130 crore from the east corridor, Rs 64.6 crore from the west corridor, Rs 5.2 crore from the north and Rs 19.7 crore from the south corridor. It also sought Rs 859,21,08,510 as the land value for constructing buildings and stations at nine locations. NMC and the National Institute of Technology (NIT) were to deposit Rs 434 crore each for the Rs 8,680 crore of the Phase-I of Nagpur Metro project. NMC was to deposit Rs 73 crore in cash. It gave land for the metro project. It generated cash through transit-oriented development (TOD) and paid Rs 55 crore to MahaMetro. The official said that NMC has already given land worth Rs 535 crore, which means it has paid extra to MahaMetro. It raised objections against the civic body for adjusting the land cost according to the ready reckoner rates. The official said that MahaMetro had objected to the civic body's demand of levying land costs for erecting the Metro pillars. Image Source Also read: Nagpur civic body asked to handover station road project to Maha Metro

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code