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Nagpur civic body to MahaMetro, Real Estate News, ET RealEstate

Nagpur civic body to MahaMetro, Real Estate News, ET RealEstate
NAGPUR: The Nagpur Municipal Corporation (NMC) has sought Rs219.56 crore from MahaMetro against the value of land on which pillars of both Aqua and Orange corridors of Metro line were constructed in the city.

The NMC’s estate department has calculated the land value as per ready reckoner rates. As per the survey carried out by the department, MahaMetro has constructed pillars on 32,512.5 sq m land.

A senior official from the department said that the civic body has divided the land into four corridors — east, west, north and south. Pillars were constructed on 18,125 sq m land on east corridor, 10,687.50 sq m on west corridor, 562.50 sq m north corridor and 3137.50 sq m on south corridor, said the official.

As per the land value calculations, NMC has sought Rs130 crore for east corridor, Rs64.6 crore for west, Rs5.2 crore for north and Rs19.7 crore for south.

The NMC has also sought Rs859,21,08,510 as value for land used for constructing buildings including stations at nine different places.

Metro officials refused to comment stating that the model code of conduct is in force.

Citing the tripartite agreement, the senior NMC official said NMC and NIT were supposed to contribute Rs434 crore each in the Rs8,680 crore phase-I of Nagpur Metro project.

The civic body was supposed to pay Rs73 crore in cash while for remaining Rs361 crore, it provided land for the project. NMC generated cash through transit oriented development on the Metro corridor and paid over Rs55 crore to MahaMetro.

“The civic body has already provided land costing over Rs 535 crore. It means the NMC has paid an excess amount to MahaMetro. Metro is not agreeing with the NMC over the land value. It had also raised objections against the civic body for fixing the land value as per ready reckoner rates,” said the official.

He further pointed out that MahaMetro had raised objection over NMC’s demand of levying land value charges for erecting Metro pillars.

The NMC general body meeting in July this year had discussed the issue and agreed with the administration levying charges for land value used for erecting Metro pillars.


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