The construction of Delhi Metro’s 9.41-km extension from Dilshad Garden to New Bus Stand Metro route will be borne, albeit indirectly, by an unlikely set of people — the residential and industrial areas along the corridor.
The Ghaziabad Development Authority (GDA) held a board meeting on Wednesday in which it was decided that the Rs. 991 crore funding for the project will be shared by different agencies.
The GDA has decided to contribute the largest share of Rs. 495 crore over four years, but at a cost. Get ready for more taxes and development charges. The authority plans to generate Rs. 150 crore per year for the project through five means.
It wants to redevelop the area along the Metro route by constructing parks and parking spaces but will charge residential and commercial establishments for this redevelopment.
Also, it wants to levy additional development charges on this area. GDA sources said these residential areas fall mostly along Meerut Road (NH-58).
In another measure, the authority plans to contribute part of its annual infrastructure development funds, amounting to R250 crore per annum, to Metro
The GDA has also proposed to facilitate a change in land use of sick industrial units to residential and commercial areas along the Metro route. It plans to levy conversion charges on those who opt for this change.
Officials said all its proposed revenue-generating measures are within the the framework of UP Urban Planning and Development Act, 1973.
Ghaziabad will get seven more stations on this route, which is expected to cater to around one lakh commuters daily.