MMRDA to levy TOD charge on new buildings near Metro 7

The Mumbai Metropolitan Region Development Authority (MMRDA) has proposed a new charge on new residential and commercial buildings within 200 meters of the Metro 7 line. The charge, known as a transit-oriented development (TOD) charge, is still being finalized, but it is expected to be in the range of ₹1,000 to ₹2,000 per square meter. The MMRDA says that the TOD charge is necessary to help fund the construction and maintenance of the Metro 7 line, as well as to support other development in the area. The authority also argues that the charge is fair, as developers benefit from the increased value of their property due to the proximity of the Metro line. However, developers have criticized the TOD charge, arguing that it is an additional burden that will make it more difficult to build affordable housing in the area. They also argue that the MMRDA has not done enough to justify the need for the charge. The MMRDA has said that it is willing to consider alternative proposals for funding the Metro 7 line, but it has not yet announced any specific plans. It is possible that the TOD charge could be implemented in a phased approach, with the rates increasing over time. The proposed TOD charge is just one of a number of challenges facing the development of the Metro 7 line. The line has been delayed several times, and it is now not expected to be completed until 2025. The MMRDA is also facing opposition from residents in some areas along the route, who are concerned about the impact of the Metro line on their neighborhoods. Despite these challenges, the MMRDA is confident that the Metro 7 line will be a success. The authority says that the line will provide a much-needed boost to the economy of the western suburbs, and it will also help to reduce traffic congestion in the area. The proposed TOD charge is a controversial issue, but it is one that is likely to be debated for some time to come. The MMRDA will need to carefully consider the arguments of both developers and residents before making a final decision on whether or not to implement the charge. See also: Mumbai Metro opens FOBs on Metro Line 7MMRDA NCC wins Mumbai Metro Line-2B’s Pending work