Ahmedabad Smart City gets Rs. 194-cr funds

After almost eight months of announcement to bring the city into the Smart City Missions' fold, Ahmedabad got its first installment of Rs. 194-cr to launch allied works across the city's jurisdiction. Out of the available funds, the Ahmedabad Municipal Corporation (AMC) plans to turn almost Rs. 100-cr into equity. A Special Purpose Vehicle (SPV) has already been formed for the purpose, said sources, adding that in the upcoming standing committee meeting, Municipal Commissioner, Mukesh Kumar will saught authority from the standing committee for converting Rs. 100-cr in the form of equity. Ahmedabad has a major plan for the redevelopment of nearly 70 hectares area around the Sabarmati Ashram. While new houses under the Economically Weaker Section (EWS) housing scheme will replace the existing slum on both sides of the Bus Rapid Transit System (BRTS) route starting from Vadaj Circle and the area behind this will have a huge lush green garden in a 60 acre surrounding area, they added.