The Ghaziabad Development Authority (GDA) cleared the R991-crore funding pattern proposal for the 9.41km-extension of the Dilshad Garden Metro line to the New Bus Stand in a board meeting held on Wednesday.
The second phase route will have seven stations and GDA will share around Rs. 495 crore of the Rs. 991 share of UP state.
The total project cost is around Rs. 1,591 crore. Speaking to Hindustan Times, GDA vice-chairman Santosh Kumar Yadav said that the proposal to share the funding — 50% by GDA and 50% by Municipal Corporation, Housing Board and UP State Industrial Development Corporation (UPSIDC) — had been finalised and sent for further approval to state officials at Lucknow.
The GDA’s share, however, and that of other agencies will be spread over four years.
The proposed elevated corridor would have seven stations — Shaheed Nagar, Raj Bagh, Rajendra Nagar, Shyam Park, Mohan Nagar, Arthala and New Bus Stand. The link is expected to benefit around 100,000 people daily.
The previous government in the state in April 2011, had almost abandoned the extension of the Dilshad Garden line to New Bus Stand due to shortage of funds.
To gather its share of Rs. 495 crore, the GDA has come out with several proposals which will generate funds for the Metro and will see the industrial and housing areas along the Metro alignment sharing the major burden.