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.

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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

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