MMRDA allocates funds for major projects

Mumbai: Mumbai Metropolitan Region Development Authority has sanctioned a budget of Rs 6,643 crore for the fiscal 2008-09. The Maharashtra Chief Minister, Mr Vilasrao Deshmukh, sanctioned the amount.

Major projects for which the authority has been allocated funds are the Rs 700-crore Mumbai Urban Transport Project, Rs 1,250 crore for the Mumbai Urban Infrastructure Project, Rs 500 crore for developing four monorail projects and Rs 610 crore for building a land bank and Rs 300 crore for maintaining the Mithi river, an official release said.

The MMRDA is expected to earn Rs 6,144 crore from various sources, of which a significant portion would be from the sale of land owned by authority in Bandra-Kurla complex, the release said.