24-m DP road in Mundhwa to be developed lieu of development credit note
Pune : NpNews24 Online – Pune Corporation | The Pune Municipal Corporation (PMC) standing committee on Friday approved the development of 24-m DP road in Mundhwa on a public-private-partnership (PPP) basis in lieu of development credit note. This was revealed by standing committee chairman Hemant Rasane.
He said limitations are faced while developing DP roads, bridges due to the cost involved, less funds allocation and demand of cash compensation by land owners during land acquisition. In this backdrop, a proposal was submitted to develop roads on a PPP basis.
Under this proposal, land needed for the road can be acquired in exchange for FSI and TDRs. Expenditure incurred on road development can be done by granting development credit note to the developer or contractor. The credit note can be used for paying building permission charges in the PMC. It will also be transferable.
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