Maharashtra government has sanctioned Rs 250 crore for Metro Line-3 project. This is the second tranche of the Rs 500 crore budgeted for the project in FY22. In January 2022, the state government had sanctioned Rs 250 crore.
The project is being funded in a 50:50 ratio by the Centre and state. As per the agreement, 50 percent of taxes is to be paid to the Centre and cost of land acquisition, relief rehabilitation amounting to Rs 1,615 crore (interest-free secondary loan) with waiver of Rs 806 crore state taxes is to be paid to the Mumbai Metro Rail Corporation (MMRCL) by the state government. This amounts to Rs 2,421 crore. Till January 2022, the government had paid nearly Rs 1,926 crore. With this tranche of Rs 250 crore, the state government has sanctioned MMRCL nearly Rs 2,176 crore. In 2021, the government extended the lease of over three lakh sq feet of Azad Maidan land by another three years as the work was delayed.