[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.|
Here I have important INDIA real estate news to share with you which is as mention under.
NEW DELHI: Finance Minister Nirmala Sitharaman on Monday said that two new technologies
-- MetroLite and MetroNeo -- will be deployed to provide metro rail systems at a much lesser
cost in Tier 2 cities and peripheral areas of Tier 1 cities.
While presenting the Union Budget 2021-22, Sitharaman said that the metro rail network of
702 km is already operational across the country, and another 1,600 km of the metro rail
network is under construction in 27 cities.
"Two new technologies -- 'MetroLite' and 'MetroNeo' will be deployed to provide metro rail
systems at much lesser cost with same experience, convenience and safety in Tier-2 cities
and peripheral areas of Tier-1 cities," Sitharaman said.
The Minister also spoke about the central counterpart funding to various Metro Rail projects.
"Central counterpart funding would be provided to Kochi Metro Railway Phase 2- of 11.5 km
at a cost of Rs 1,957.05 crores and Chennai metro railway Phase 2 of 118.9 km at a cost of
Rs 63,246 crores. The Bengaluru Metro Project- Phase 2A and 2B of 58.19 km will be
provided funding of Rs 14,788 crores. While the Nagpur Metro Project Phase 2 and the
Nashik Metro Project would be provided amounts of Rs 5,976 crores and Rs 2,092 crores
respectively," she added.
Sitharaman further said that the government will work towards raising the share of public
transport in urban areas through expansion of metro rail network and augmentation of city
Read more at: https://realty.economictimes.indiatimes.com/news/infrastructure/fm-launches-metrolite-and-metroneo-technologies-in-tier-1-tier-2-cities/80643059
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