G.O.Ms.No.66, Share Capital Assistance for Chennai Metro Rail Phase-I Extension, 2019
The Planning, Development and Special Initiatives (SI) Department issued G.O.Ms.No.66 on March 22, 2019, sanctioning Rs.108.00 crore in share capital assistance to Chennai Metro Rail Limited for the Chennai Metro Rail Project Phase-I Extension. The assistance supports ongoing construction commitments for extending Corridor-1 to Thiruvottriyur and Wimco Nagar, and the document does not change land ownership or property rights.
What the document does
G.O.Ms.No.66, issued by the Planning, Development and Special Initiatives (SI) Department on March 22, 2019, provides State Government financial assistance for the Chennai Metro Rail Project Phase-I Extension. It sanctions the balance share capital assistance requested by Chennai Metro Rail Limited for ongoing construction work.
The Phase-I Extension covers the extension of Corridor-1 to Thiruvottriyur and Wimco Nagar. Its estimated completion cost was originally Rs.3001.00 crore and was later updated and approved at Rs.3770.00 crore. The Ministry of Urban Development, now the Ministry of Housing and Urban Affairs, had approved the project.
Key financial provisions
The financial directions in G.O.Ms.No.66 include:
- Rs.508.00 crore had been earmarked as share capital assistance for the project.
- The State Government had already released Rs.400.00 crore to Chennai Metro Rail Limited.
- The remaining Rs.108.00 crore was sanctioned from the Budget Estimate for 2018-19.
- The money is intended to meet immediate commitments connected with ongoing construction under the Phase-I Extension.
- The assistance is not to be paid in cash. It must be credited to the Public Deposit Account of Chennai Metro Rail Limited.
- The Section Officer of the Planning, Development and Special Initiatives (Bills) Department is directed to draw the amount through an account payee cheque in favour of the specified Public Deposit Account.
- The Managing Director of Chennai Metro Rail Limited is to collect and deposit the cheque under the stated government deposit account head.
The expenditure is classified as capital outlay on urban development and as State investment in Chennai Metro Rail Limited.
Who is affected
G.O.Ms.No.66 directly concerns Chennai Metro Rail Limited and the government departments and accounting officers responsible for releasing, receiving and recording the sanctioned assistance. It also supports construction of the metro extension serving Thiruvottriyur and Wimco Nagar.
For property buyers and owners, the document is a project funding approval. It does not contain provisions on land acquisition, compensation, change of land use, title, planning permission or property ownership.
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.66 acquire any private land for the metro extension?
No land acquisition is authorised or described in the document. It only sanctions share capital assistance to Chennai Metro Rail Limited for ongoing construction commitments.
How much funding was sanctioned to Chennai Metro Rail Limited?
The Planning, Development and Special Initiatives (SI) Department sanctioned Rs.108.00 crore. This was the balance of the Rs.508.00 crore earmarked as share capital assistance after Rs.400.00 crore had already been released.
Which part of the Chennai Metro Rail Project does the funding support?
The funding supports the Phase-I Extension of Corridor-1 to Thiruvottriyur and Wimco Nagar.
Will the Rs.108.00 crore be paid directly in cash to Chennai Metro Rail Limited?
No. G.O.Ms.No.66 directs that the assistance must be credited to the Public Deposit Account of Chennai Metro Rail Limited rather than paid in cash.
