The money for better train commute is here but how quickly things move will depend on how soon the agencies involved get their act together.
The state and the railways also plan to share revenue from the sale of a 10-acre railway plot in Bandra (East). The issue has been contentious with uncertainty within the state government and the railways over how the plot will be developed.
“The loan is here but the railways has not yet accepted our offer to develop it. The chief minister in the last meeting with the Mumbai Rail Vikas Corporation had suggested that the plot be developed jointly and the money be kept in an escrow account but the railways have not agreed to this proposal,” a senior bureaucrat said requesting anonymity.
The state government has granted the land a floor space index (FSI) of 2.
The FSI of a structure determines how high it can be built.
The Mumbai Metropolitan Region Development Authority had offered to develop the plot since this has been its unique selling proposition. The railways, however, were keen on developing it themselves because they are the owners of the land. Chief Minister Ashok Chavan at the war room on infrastructure meet on Wednesday said he will take this issue with the Ministry of Railways soon.
The two agencies have also agreed that half of proceeds from the sale of this plot will go towards Mumbai Urban Transport Project (MUTP) II.
The MUTP II can reduce overcrowding in trains during peak hours from 4,000 to 3,000 passengers in a 12-car train where the rated capacity is around 1,700.