Home / Mumbai / Mumbai News / Article / Mumbai Metro III: 30-year lease of 24 plots could cost Rs 287 crore

Mumbai Metro III: 30-year lease of 24 plots could cost Rs 287 crore

<p>As per the latest proposal, MMRCL will be able to lease the plots for the next 30 years; previous proposal was rejected after corporators demanded MMRCL be charged as per prevalent ready reckoner rates</p>

Listen to this article :

Following the failure of a previous proposal pertaining to handing over of Brihanmumbai Municipal Corporation (BMC) plots to the Mumbai Metro Rail Corporation Limited (MMRCL), a new version will be tabled before the Improvement Committee today.

This version proposes that the MMRCL pay the civic body a one-time premium of Rs 287 crore, following which it will secure the rights for the said plots for the next 30 years. And once this duration expires, the lease can be considered for renewal.

Trending Stories

Latest Photoscta-pos

Latest VideosView All

Latest Web StoriesView All

Mid-Day FastView All

Advertisement