Mumbai: The state government has released Rs 954 crore from the revenue collected through the 1% additional stamp duty levied in the Mumbai Metropolitan Region. This decision has brought much-needed relief to the Mumbai Metropolitan Region Development Authority (MMRDA), which has been struggling with debt due to large-scale infrastructure projects. The move will help reduce the funding crunch and ensure smoother progress on several ongoing development works in Mumbai.

In addition to this, the government has also allocated Rs 201 crore to the Mumbai Metro Rail Corporation (MMRC), the body responsible for constructing the underground Metro 3 line. This underground corridor is one of the most ambitious transport projects in the city and is expected to significantly reduce traffic congestion

See Full Page