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Rupees 300 crore will be compensated to the developers for taking over the toll plazas

No Comments Sub Category:Realty News Posted On: Jun 12, 2014

Recently, it has come to our notice that around 26% of the total toll plazas that belong to Maharashtra are about to be shut down soon. All of them are small projects and they have a range which goes up to quite a lot of money. In order to take over the toll plazas, the Maharashtra government has decided to shell out a total of Rupees 300 crores to the developers.

On Monday, it was announced by the state government that around 44 toll booths across the state will be completely shut. But the users will have to continue before it becomes a reality. This is because the State Government will have to issue several notifications declaring that the tolls are to be cancelled.

The 44 toll booths that are about to be closed consist of small roads, bridges as well as over bridges. One of the officials mentioned that people don’t mind paying money for those things from which they can derive several valuable benefits.

The government will be compensating all the developers by paying them Rupees 300 crore in total. This has been pre-defined for each of the developers in the agreement of concession or the contract which was signed between the road developer and the State Government.

Source – Mamuni Das

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