Mumbai, Nov 22: The 66.15-km Nashik ring road, planned as a parikrama marg ahead of the 2027 Kumbh Mela, is expected to cost around Rs 8,000 crore.
The State Cabinet Committee on Infrastructure, which recently approved the project, has assigned its execution to the Maharashtra State Infrastructure Development Corporation (MSIDC), despite earlier expectations that the Maharashtra State Road Development Corporation (MSRDC) would implement it.
Land Acquisition Cost Set at Rs 3,659 Crore
The committee has approved land acquisition costs amounting to Rs 3,659.47 crore. Negotiations between the state and the Centre are underway regarding the civil works component of the parikrama marg, estimated at Rs 4,262.64 crore. The state has already granted approval for this cost.
Funds to Come from Nashik–Trimbakeshwar Kumbh Mela Authority
According to a Government Resolution (GR) issued on Friday, funds for land acquisition will be provided through the Nashik–Trimbakeshwar Kumbh Mela Authority. Once discussions with the Ministry of Road Transport and Highways (MoRTH) conclude, a Memorandum of Understanding (MoU) will be signed between the state and the Centre.
Project Aimed at Managing Traffic During Expected 2 Crore Footfall
Highlighting the urgency of the ring road, the state noted that nearly 2 crore devotees and tourists are expected to visit Nashik during the Kumbh Mela. The new road is intended to reduce congestion within the city and improve the movement of people and goods, supporting industrial growth, logistics and tourism.
Also Watch:
Toll Option Kept Open to Recover Project Costs
To recover project costs, the option of levying tolls has been kept open, with revenues to be shared between the state and the Centre.
To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/
