The state government has given Rs 400 crore to the Mumbai Metro Rail Corporation (MMRC) from Metro cess collection. The money can be utilised on Metro work of the corporation, a government resolution (GR) said.
The government has decided to share the Metro cess money with agencies carrying out Metro projects, including in Pune and Nagpur. For Mumbai’s first underground Metro Line 3 (Colaba to SEEPZ via BKC) Rs 400 crore has been given.
The Maharashtra government has imposed an additional 1 per cent Metro cess on property buying. So along with payment of stamp duty fees which is 5 per cent for males and 4 per cent for females, a homebuyer also has to shell out an additional 1 per cent Metro cess.
