MMRDA suggests for ”white paper”

By Accommodation Times Bureau

The controversy of the development norms of MMRDA still not over, it has set to explore new means of revenue. Sources to be believed it now suggesting ‘’white paper’’ for the projects which will now focus on the development of new sources of revenues.

MMRDA has so far generated revenues by selling land parcels in Bandra Kurla Complex and much in Vadala.  Rs 70,000 crore is expected more towards infrastructure in next decade, for this white paper will be the need of the hour to high the sources of revenue for the body itself.

Officials of MMRDA said, current sources of revenue are not sufficient for the long term needs. We have already started levying development fees on the property transactions which falls in the zone of influence projects like Metro corridors, monorail. Also plan B for the agency is developing private properties with private builders jointly. The ‘’white paper’’ is already ready and will presented in front of CM within a week. This paper will be more like a status paper for the MMRDA projects and its financial health.

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