JMRC to sell land to raise funds for future metro project

For the future developments and maintenance of current infrastructure, the corporation has started an exercise to build a dedicated Metro fund through trading its land

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JAIPUR (Metro Rail News): Jaipur Metro Rail Co (JMRC) is searching for alternatives to fulfil its coffers due to cash-strapped after coping with the operational losses. For the future developments and maintenance of current infrastructure, the corporation has started an exercise to build a dedicated Metro fund through trading its land.

The corporation has selected the Jaipur Development Authority to sell it’s land prime land, as per JMRC officials. The scheme named as ‘Metro Enclave’ e-auction has already begun and will continue till 26th of June.

JMRC’s approximately 1.5-lakh sqm land near B2 Bypass is halfway of being sold. The amount will be deposited in the dedicated Metro fund. The JDA will sell the land on behalf of Jaipur Metro Rail Corporation, for project expansion the amount will be transferred to JMRC’s account, as per JMRC official.

These 3 heads are considered at a higher level. However, in order to stop invite huge protests, the govt was hesitant to levy entry tax on heavy vehicles. The proposal is being viewed again.

When the approval is granted, a notification will be released along with establishing a committee to monitor the funds. According to the JMRC assessment, the project is looking at an annual operating lack of Rs 41 cr for the next 5 yrs.

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