Buying a house or property in Ghaziabad would get costlier in near future.
As a measure to generate funds for its Metro-extension plans in near future, the Ghaziabad Development Authority (GDA) has approved levying of additional external development charge on new infrastructure projects, state officials said.
At a GDA board meeting on Friday, principal secretary (Housing) J.S. Chamber and other officials approved the proposal for an external development charge on the new housing projects to provide backup for the Metro extension funding in Ghaziabad.
Officials said additional charge of Rs 505 per square metres was approved. They estimated that the additional charge would help the GDA generate around Rs 4,500 as revenue in next 10 years.
At present, the GDA charges around Rs 1,840 per sq mt of development charge on clearance of maps/layout plans. With the additional levy of charge, the new property seekers would have to pay a total of Rs 2,345 per sq mt.
“This would also be levied on integrated, hi-tech city projects and for this we will send it for approval to the state authorities. The new charge is only for the new projects,” GDA vice-chairman N.K. Chaudhary said.
At present, only Anand Vihar to Vaishali (2.57 km) Metro route is under-construction in Ghaziabad. Officials said around Rs 320 crore would be spent on the entire project apart from the payment of Rs 260 crore to the Delhi Metro Rail Corporation.
Officials said the Metro would be extended from Dilshad Garden to the new bus stand (9.1 km) and Vaishali to Sector 62 Noida (12 km) in the next phase of Metro extensions.
In all, over Rs 1,500 crore will be needed by the GDA to procure funds and their subsequent re-payment for the second phase of Metro.