The Mumbai municipality decided to beautify the Powai Lake waterfront in 2006, but the cost of the project has been revised upwards thrice. Another proposal for increasing the allotment will be tabled before the standing committee on Thursday.
The original cost of the project was pegged at Rs10.07-crore. It was increased to Rs16.4-crore in 2006 and another such variation in the proposal was done in 2007 where the cost was pushed up to Rs29.56-crore.
In 2008 the cost was escalated to Rs33.99-crore on the basis that the scope of the work on the site had increased.
The latest proposal seeks for the cost to be increased from Rs33.99-crore to Rs40.6-crore — four times the original cost of the project.
The revamped lake will have a retaining wall and a jogging track stretching across 2km.
It will also house a nature park with shrubs, flower beds, trees, lawns with pathways, seating arrangements, a children's play area, viewer's dock, apart from toilets and water fountains.
Three fountains with water jets will also be located in the lake, while speakers will be mounted on poles along the jogging track and pathways.