Planning Commission Member Saumitra Chaudhuri reviewed the progress of Kochi Metro’s works here on Monday.
He is also Member, Economic and Advisory Council of the Prime Minister.
After travelling through metro’s alignment, he discussed matters like loan and State/Central equity in metro with managing director of KMRL Elias George and others. “We also apprised him of commercial development of land in Kakkanad and Muttom to raise funds for the metro,” Mr George said.
ADVERTISEMENT
Mr Chaudhuri appreciated steps taken for negotiated purchase of land for the metro and the payment of market rate as compensation, to make land acquisition fast and hassle-free. “We also elaborated about how the project has been structured in such a way that people who surrender land for commercial development are given sound compensation, apart from alternative land, thus bringing about a win-win situation. They will further benefit from appreciation in the price of land that they surrendered,” Mr George said.
Mr Chaudhuri said that KMRL would become a one-stop solution for all urban transit problems of the State as the agency has the potential, knowledge and experience in relevant areas, says a press release by KMRL.