MahaMetro Accepts PMC Land Valuation at Rs. 410.11 cr

PMC had allocated three major tranches of land for Pune Metro

  1. At Kothrud garbage depot,
  2. Parvati-Swargate water supply scheme and
  3. 17 additional land parcels at various places.

Of the total Metro cost share, PMC is expected to pay Rs 951 crore to MahaMetro. But a dispute arose over calculation of land valuation, for adjusting from the due amount. Referring to ready reckoner rates from 2014-15, Metro claimed that the total cost of land given by PMC is Rs 157 crore (Rs 85.95 crore at Kothrud depot, Rs 53.20 crore at Parvati-Swargate water supply scheme, and Rs 17.90 crore for the 17 land parcels).

But PMC objected, saying cost should be evaluated as per current ready reckoner rates, and gave rates of Rs 325 crore for Kothrud depot land, Rs 60.59 crore for that at Parvati Swargate water supply scheme, and Rs 24.46 crore for 17 land parcels.

After a long battle, Metro has accepted the fresh valuation and agreed to pay Rs 410.11 crore. PMC land and estates department head Rajendra Muthe said, “This is a positive development and will save us almost Rs 250 crore.” Metro also claimed to benefit, and MahaMetro head of human resources and public relations Hemant Sonawane said, “We had calculated land cost while estimating our project budget. For private land, the cost is 2.5 times of ready reckoner rates. But as there has been a calculation between government bodies for land, we need to pay only by ready reckoner rates, so, this this decision is also beneficial for us.”

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.