Facing a shortage of funds for Metro and Regional Rapid Transit System (RRTS) projects for intercity and intra-city connectivity, Ghaziabad development authority (GDA) officials have indicated a rise in city-development charges for future housing projects in its jurisdiction area to raise the necessary funds for the two projects.
Speaking to Hindustan Times, authority's vice-chairman Narendra Kumar Chaudhary said that funds were a major problem for the authority and the state officials have asked them to raise more funds for the two projects.
"Last year, we had planned for levying a Metro-cess for the upcoming housing projects, but that proposal was rejected by the state officials. Now, we plan to increase the city development charge. This will give us additional income to fund our connectivity plans," Chaudhary said.
At present, Rs 2,075 per square metre is charged as city development charges for the plan and map-layout clearance on housing projects. Officials indicated that an additional Rs 500 could be added to this amount.
Apart from the current under-construction Anand-Vihar to Vaishali (2.57 km) Metro-route, GDA plans to connect Dilshad Garden to Mohan Nagar and would need Rs 800 crore for the project.
"We have only around Rs 200 crore available per year out of the infrastructure-development fund," Chaudhary said.
{{/usCountry}}"We have only around Rs 200 crore available per year out of the infrastructure-development fund," Chaudhary said.
{{/usCountry}}Further, the RRTS project, having 6 stations in Ghaziabad, would also involve a massive-funding which would connect Anand-Vihar to Meerut on a route of around 76.5 km on a two-way elevated-track. As per official estimates, GDA would need around Rs 300-400 crore for the project.
GDA's financial-controller stated that around Rs 370 crore would also be raised by the authority during the financial year 2011-12 on behalf of compounding-charges, development-charges and land-use conversion heads. GDA officials said they were hopeful of drawing the funds for the two projects as per the present plans.