The Ghaziabad development Authority has allocated Rs 1,500 crore for diverse infrastructure improvement projects, to be undertaken through it within the city, in its price range estimate for financial 12 months 2016-17. The finances estimate acquired in-precept approval from the board of GDA, in a meeting held in Ghaziabad on April 19.
The board assembly turned into presided through the UP main secretary (housing), Sadakant Shukla. overall revenue predicted to be received by way of GDA during 2016-17 has been estimated at Rs 2,056.80 crore, at the same time as total expenditure to be incurred via it under diverse heads throughout the equal period is pegged at Rs 2,370.10 crore.
This includes Rs 400 crore to be spent on building a ‘land bank’. Shukla said, “The land financial institution can be constructed by means of buying land without delay from farmers in accordance with the coverage issued with the aid of the country authorities. compensation prices, at four times the circle rate for rural areas and two times the circle price for city regions, might be paid to landowners.”
GDA officials said 500 hectares had been diagnosed for the land bank, in the Pipeline street area at the back of Raj Nagar Extension, and along Northern Peripheral street. This land belongs to farmers in 5 villages around the area.
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GDA has anticipated an income of Rs 771 crore from prices and levies imposed upon development works in diverse zones. in addition, it has predicted an earning a sum of Rs 705 crore via sale of evolved plots and homes.
a complete of 44 proposals, concerning numerous works and policies, were given the green sign by the board throughout the assembly, which additionally accredited a proposal to introduce e-tendering for sure classes of development works within the metropolis. “This idea has been mooted to bring about more transparency and responsibility in government paintings. initiatives with budgets above Rs forty lakh might be open for e-tendering after may additionally. As of now, those projects are taken up thru open tendering, by means of the two-bid device,” stated GDA vice-chairman Vijay Yadav.