The MbPT is interested in an underground section of the Metro as it has plans of developing the eastern water front for tourism
To fund the upcoming Metro corridor between Wadala and the Chhatrapati Shivaji Maharaj Terminus, the Mumbai Metropolitan Region Development Authority (MMRDA) is eyeing a chunk of land at the eastern water front.
This chunk of land is owned by the Mumbai Port Trust (MbPT). The trust wants MMRDA to construct an underground Metro corridor via city's eastern water front as against the decided overground plan. However, the MbPT is not keen on sharing the cost for the same.
In such a situation, the MMRDA has proposed that since MbPT can't share the cost to build a corridor underground, it should provide them with land worth nearly Rs 2,000 crore. MMRDA plans to monetise this land to further fund the construction. While the rest of the corridor will be built above the ground, it will be underground when it passes via the eastern water front.
Currently, Metro construction work for over 100 kilometre in the city, is underway.
The MMRDA owns huge pieces of land at the Bandra-Kurla Complex and in Wadala. It has been commercially monetising these land pieces to raise money and fund infrastructure projects.
RA Rajeev, Metropolitan Commissioner MMRDA said, "We don't mind being paid in terms of land from the land bank of MbPT. The land can be monetised in the open market to recover the cost required to build Metro's underground section."
"We are considering both the options — an elevated scheme and an underground open scheme. However, nothing has been finalised yet but, within the course of discussion we will fix something," Rajeev added.
The MbPT is interested in an underground section of the Metro as it has plans of developing the eastern water front for tourism. Several coastal tourism activities like domestic cruise, floating hotels are being brought in at the eastern water front. With such change in plans, the cost of the Metro corridor will increase by around Rs 2,000 crore.
The construction of the Rs 8,000 crore-Wadala-CST-Metro-11 corridor was approved by Chief Minister Devendra Fadnavis on Wednesday. It will be an extension of the Wadala-Thane Metro-4 corridor for which construction is already underway. With the construction of both these Metro corridors, a person can travel from Thane to city or otherwise, easily.
TAPPING CITY’S WATER FRONT
The MbPT is interested in an underground section of the Metro as it has plans of developing the eastern water front for tourism. Several coastal tourism activities are being brought in at the eastern water front.
With such change in plans, the cost of the Metro corridor will increase by around Rs 2,000 crore. The construction of the Rs 8,000 crore-Wadala-CST-Metro-11 corridor was approved by CM Fadnavis
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