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Friday, May 31, 2013

CHURCHGATE-VIRAR ELEVATED CORRIDOR Rlys wants to use 1.3L sq m of its land to raise 7k crore

Mumbai: The railways has asked the state government for permission to commercially exploit eight parcels of its land collectively measuring 1.31 lakh sq m to raise Rs 7,000 crore for the Churchgate-Virar elevated corridor. It has sought allotment of a floor space index (FSI) of 4 for this land. 

    The land parcels are situated in Mumbai Central, Mahalaxmi, Lower Parel, Bandra, Santa Cruz, Andheri, Jogeshwari and Borivli. 
    The railways has also sought commercial exploitation on the concourse area of some of the stations planned 
along the route, a senior railway official said. 
    The estimated cost of the elevated corridor project is Rs 25,000 crore. The railways is hoping to raise Rs 5,000 crore through the Centre's viability gap funding scheme. 

    The state government is not in favour of extending an FSI of 4 for all the plots. During ameeting on the project on Friday, it was decided to form a team comprising representatives from railways, the state government and the BMC to survey each of these lands. 

    "The team will assess the development potential of each land. It was suggested that the FSI for each plot should be determined on the basis of its development potential and the infrastructure carrying capacity of the region," a state official told TOI. 
    During the meeting, the state flagged off its concerns about the railways' plan to erect a car shed on a 40-acre saltpan land. While the railways intends to implement the project, it has sought the state's assistance in land acquisition, relief and rehabilitation work and shifting of utilities. It was decided to form teams to survey requirements for land acquisition and shifting of utilities.

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