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Maharashtra Chief Minister Prithviraj Chavan has sanctioned Rs 5,570 crore budget for Mumbai Metropolitan Region Development Authority (MMRDA) region.
Apart from provisioning for monorail and Bus Rapid Transit System (BRTS) projects, the budget has allocated Rs 600 crore for the Mumbai Urban Infrastructure Project (MUIP) and Rs 700 crore for the Extended Mumbai Urban Infrastructure Project, that includes work on roads and flyovers. MMRDA was examining different models to go about acquiring land for the growth centres. Instead of directly acquiring land, it may resort to the Town Planning System (TPS) under which, the owner would be able to receive more value for his plot.
It will also create a land bank along the growth centres that would help the development of the place as well as earn revenues.