G.O.(Ms)No.144, State Urban Infrastructure Development Fund Loan for Panjappur Integrated Bus Terminus, 2022
The Municipal Administration and Water Supply (MA2) Department issued G.O.(Ms)No.144, dated 14 October 2022, permitting a loan of Rs.159.98 crore from the State Urban Infrastructure Development Fund to Tiruchirappalli City Municipal Corporation. The loan supports construction of an Integrated Bus Terminus and other infrastructure at Panjappur, at 6 percent annual interest with a repayment period of 10 years.
What the government approved
G.O.(Ms)No.144 of the Municipal Administration and Water Supply (MA2) Department permits Tiruchirappalli City Municipal Corporation to receive a loan of Rs.159.98 crore from the State Urban Infrastructure Development Fund. The loan is for constructing an Integrated Bus Terminus and other infrastructure at Panjappur.
The State Level Sanctioning Committee approved the loan at its first meeting held on 20 July 2022. The government permission is subject to the conditions in the appraisal report and the conditions approved by that committee.
Project cost and funding
The Panjappur Integrated Bus Terminus and related infrastructure had already received administrative sanction at an estimated total cost of Rs.349.98 crore. The stated funding arrangement is:
- Rs.140 crore from the Infrastructure and Amenities Fund.
- Rs.50 crore from the general fund of Tiruchirappalli City Municipal Corporation.
- Rs.159.98 crore as a loan from Tamil Nadu Urban Finance and Infrastructure Development Corporation Limited.
The approved loan carries interest at 6 percent per year and has a repayment period of 10 years.
Financial assessment
Tamil Nadu Urban Finance and Infrastructure Development Corporation Limited engaged an independent auditor to assess the project's financial viability. The auditor estimated that the average net revenue surplus, after considering grants, devolutions and similar receipts, was around Rs.62 crore.
The auditor stated that Tiruchirappalli City Municipal Corporation may be able to meet the annual loan and interest commitments if grants, subsidies, devolution funds and other receipts remain available as free surplus for repayment.
Who is affected
G.O.(Ms)No.144 directly concerns:
- Tiruchirappalli City Municipal Corporation, as the borrower and project authority.
- Tamil Nadu Urban Finance and Infrastructure Development Corporation Limited, which proposed the loan.
- The State Urban Infrastructure Development Fund, which provides the loan finance.
- The Panjappur Integrated Bus Terminus and associated infrastructure project.
For property buyers and owners, the document records project financing. It does not specify land parcels, announce land acquisition, change land use, alter ownership records or impose a charge on individual properties.
This summary is generated from the source document to help you find what is relevant. The PDF above is authoritative. For advice on your own property, use LandLens One or speak to a qualified professional.
Common questions
Does G.O.(Ms)No.144 approve the Panjappur bus terminus loan?
Yes. It permits a loan of Rs.159.98 crore from the State Urban Infrastructure Development Fund to Tiruchirappalli City Municipal Corporation for the Integrated Bus Terminus and other infrastructure at Panjappur.
What are the interest rate and repayment period?
The loan carries interest at 6 percent per year and must be repaid over 10 years, subject to the conditions in the appraisal report and those approved by the State Level Sanctioning Committee.
How is the total project cost funded?
The estimated Rs.349.98 crore cost consists of Rs.140 crore from the Infrastructure and Amenities Fund, Rs.50 crore from the Tiruchirappalli City Municipal Corporation general fund and a Rs.159.98 crore loan.
Does this document change my property title or land use in Panjappur?
The document only records financing for the terminus and related infrastructure. It does not identify individual land parcels or set out any change to title or land use.
