Rs. 700 crore to be allocated for the Smart City Project in Bhopal

smart city

 

By Accomodation Times Bureau

 

Bhopal, March 22nd, 2017: Madhya Pradesh government allocated Rs. 700 crore to develop Bhopal’s smart city project. The MP Finance Minister, Jayant Malaiya confirmed on Wednesday regarding the money issued for this development. The finances for the metro rail project are yet to be confirmed by the Union Government, as stated by Mr Malaiya.

The project is said to be at North TT Nagar in Bhopal, a 354 acre site. Previously a budget of Rs. 25o crore was confirmed for the smart city development in Indore, Bhopal and Jabalpur. The estimated amount of the complete project is said to be around Rs. 3000 crore for Indore and Bhopal. 80% of the budget’s amount to be raised by the Smart city development corporation.  A budget of Rs. 500 crore is allocated for the special purpose vehicles for the smart city development by the Union and the State government.

According to the previous year budgetary, Rs. 453 crore was allocated for the metro rail projects, but the final amount allocation is yet under clearance from Union Government.  The smart city project soon to be commenced.

 





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