Railways has acquired 537 hectare of land out of the total 1380 hectare needed for the bullet train project between Mumbai and Ahmedabad, the Parliament was told on July 3.

Replying to a question in Lok Sabha, Railway Minister Piyush Goyal said the land acquisition for the High Speed Rail Project also known as Bullet Train Project is currently underway.

"National High Speed Rail Corporation Limited (NHSRCL), a Special Purpose Vehicle (SPV) has been set up to execute the Project. Land acquisition for the project is under progress and so far, out of total 1380 hectare of land required, 537 hectare has been acquired," he said.

Goyal also said that out of the total estimated cost of Rs 1,08,000 crore, Rs 2,860 crore has been utilised by NHSRCL for undertaking various works on the project till date. The project is targeted for completion in December, 2023 to start bullet train operation.