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MAHARASHTRA GOVERNMENT PROPOSES TO CHARGE EXTRA FROM BUILDERS FOR INFRASTRUCTURE DEVELOPMENT

ashok-chavan-1Maharashtra Chief Minister Ashok Chavan has said that his government was contemplating creating a Mumbai Development Fund by levying certain charge on developers on the route of Monorail and Metro Rail in the megapolis. Chief Minister Ashok Chavan recently announced that the Maharashtra government was considering of creating a Mumbai Development Fund by levying certain charge on developers on the route of Monorail and Metro Rail in the megapolis. Talking to reporters in Mumbai, Ashok Chavan said that wherever development works take place, property prices in the area appreciate and hence the idea is to ensure that the government too benefits. He informed that deliberations are on whether a certain charge can be taxed on first commercial transaction which takes place. The money would be utilised for development works meant for the public. However, he added that nothing was finalized yet but the government was considering it. The Mumbai development fund however, would not lead to rise in residential properties as the charges would be levied on developers constructing commercial properties in the route of Mono and Metro rail. Experts in the field have stated that Mumbai needed a dedicated fund which will exclusively support transportation infrastructure in the city. Over the years many think tanks had suggested the creation of such a fund. Some experts say that the money for the fund could also be collected as a surcharge from the ticket sales of transportation services. A surcharge can be separately accounted in the State Budget and it should only be used for infrastructure development. With cameraperson Vinayak Dalvi, Sana Warsia for NMTV News.

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