Residential, commercial projects to come up along Gzb metro corridor
9 March 2013 6:04 AM IST
Ghaziabad Development Authority (GDA) is planning to facilitate development of commercial and residential projects along metro route from Dilshad Garden to Ghaziabad City.
According to Vice Chairman of GDA Santosh Kumar Yadav, by changing the land use, the authority could earn more than Rs 200 crore, the money required for the metro rail project. In the budget 2013-14, the authority has allocated over 40 per cent of its expenditure for infrastructure development.
‘There is great scope for development of residential and commercial projects along metro rail route. A detailed policy will be approved after through study of the feasibility,’ said Santosh Kumar Yadav.
‘We will earn more than Rs 200 crore, the money GDA has to pay for the project,’ added Yadav. He further added that all the necessaryapprovals for the project is completed and the project would be started at the earliest. In the board meeting on Friday, GDA approved its budget for 2013-14.
In the next year the authority has estimated its earning over Rs 1,627 crore and expenditure of Rs 1825 crore. ‘We will earn more than estimate as several group housing projects have been planned in the next financial year,’ added Yadav. In 2012-13, the expenditure of the authority was Rs 1,162 crore against the receipt of Rs 1,286 crore.
In another major decision in the board meeting, the authority removed the cap of area for engineering and management colleges. Earlier, the professional colleges were allowed to construct 6,000 sqm of covered area but most of the colleges had violated the norm as it was not practically feasible to run the college in this limit, now the limit has been removed. ‘We will earn over Rs 100 by regularising the construction illegal construction made by these institutes,’ added Yadav.
The board also approved the proposal of the authority to allow the residents to change in their floor in less than four floor buildings by charging the conversion fee applicable for multi-storey buildings.
According to Vice Chairman of GDA Santosh Kumar Yadav, by changing the land use, the authority could earn more than Rs 200 crore, the money required for the metro rail project. In the budget 2013-14, the authority has allocated over 40 per cent of its expenditure for infrastructure development.
‘There is great scope for development of residential and commercial projects along metro rail route. A detailed policy will be approved after through study of the feasibility,’ said Santosh Kumar Yadav.
‘We will earn more than Rs 200 crore, the money GDA has to pay for the project,’ added Yadav. He further added that all the necessaryapprovals for the project is completed and the project would be started at the earliest. In the board meeting on Friday, GDA approved its budget for 2013-14.
In the next year the authority has estimated its earning over Rs 1,627 crore and expenditure of Rs 1825 crore. ‘We will earn more than estimate as several group housing projects have been planned in the next financial year,’ added Yadav. In 2012-13, the expenditure of the authority was Rs 1,162 crore against the receipt of Rs 1,286 crore.
In another major decision in the board meeting, the authority removed the cap of area for engineering and management colleges. Earlier, the professional colleges were allowed to construct 6,000 sqm of covered area but most of the colleges had violated the norm as it was not practically feasible to run the college in this limit, now the limit has been removed. ‘We will earn over Rs 100 by regularising the construction illegal construction made by these institutes,’ added Yadav.
The board also approved the proposal of the authority to allow the residents to change in their floor in less than four floor buildings by charging the conversion fee applicable for multi-storey buildings.
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