The MMRDA in its application said without the construction of the car shed, Metro lines 3 (Colaba-Bandra- SEEPZ), 4 (Kasarwadavali-Wadala) and 6 (Lokhandwala-Vikhroli) cannot be commissioned.
The new rate came into force on February 24 and will remain effective till June 15 this year, the official said.
After the HC order, there were reports in a section of the media about the state government exploring some other potential sites for the car shed, including the Bandra Kurla Complex.
State Energy Minister Nitin Raut also said the reasons behind the technical snag that caused power failure in parts of the MMR will be probed once the electricity supply is restored.
Maharashtra government's decision to cut stamp duty rates may not help boosting demand: India Ratings
According to the rating agency, the residential real estate's volume and price growth are closely integrated with the GDP growth rate.