Just ahead of the launch of Phase I of Metro Line 3, the Maharashtra state government has announced the disbursement of funds collected through an additional 1% stamp duty on property transactions within municipal corporation areas to support urban transport initiatives. As part of this allocation, Mumbai Metro Rail Corporation Limited (MMRCL) will receive Rs 1.88 billion, while Pune Metro Rail will be provided Rs 1.65 billion.
In a government resolution issued, the state’s Urban Development Department confirmed that these funds are being allocated as outlined in the 2024-25 budget under the additional tax surcharge aimed at boosting infrastructure and public transportation projects across the state. (ET)
