Funding for two Metro extensions in Ghaziabad a worry
The two extensions — Noida Sector 62 to Sahibabad and Vaishali to Mohan Nagar — will be built at a cost of Rs 3,711 crore.noida Updated: Feb 06, 2018 23:14 IST
The detailed project report, submitted by the Delhi Metro Rail Corporation (DMRC), for the two extensions in Ghaziabad will be sent to the state government by the Ghaziabad development authority (GDA) for final approval.
During a meeting of different local Ghaziabad agencies on Monday, the DPR was accepted without any changes or revision. The authority is now planning a different option for funding once it gets the nod from the state government.
The two extensions — Noida Sector 62 to Sahibabad and Vaishali to Mohan Nagar — will be built at a cost of Rs 3,711 crore. The GDA officials said a final decision on the funding will be taken by the state government and the authority is now planning to raise its contribution towards the project.
“We have several options on the cards for funding the two extensions. One, we may offer more floor area ratio for projects around the two Metro alignments. Two, there is also a possibility that areas near the two extensions may be allotted to private players on lease to raise commercial projects so that they will ensure a recurring income for the authority,” VN Singh, chief engineer, GDA, said.
Apart from these options, the GDA has also considered a plan to levy additional charges on map clearance of new projects as developers will benefit from the two extensions.
“We can also hope for funding from the state government as it was the government which funded the Lucknow Metro. Under the present arrangement, 20% of project fund will be share by the DMRC and the Centre, while 80% is to be borne by the state government. So any fund grants by the state out of its budget will mean a lesser burden on the authority,” Singh said.
Apart from the funding issues, the GDA is also planning on building two major parking areas in Sahibabad and Mohan Nagar — the two major interchange hubs on the extension lines. The Vaishali extension and the Noida Sector 62 extensions will culminate in Mohan Nagar. It is also a major station on the under-construction 9.41km Metro line.
“Land is scarce but we have to come up with parking— may be a multilevel lot like the one we developed in Vaishali,” Singh said.
In its DPR, the DMRC has also proposed the concept of transit oriented development (TOD). Under the TOD concept, a specific region around the Metro network is defined and allowed for mixed land use — commercial with residential. The TOD concept is also intended to enable commuters to walk to the stations near their localities and thereby help reduce the use of vehicles.
The mixed land use near the alignment will also help the authority to generate more revenue.
First Published: Feb 06, 2018 23:14 IST