Noida Authority’s Board nods two Metro projects

The Board of Noida Authority on Friday approved two Metro projects worth Rs 6,710 crore besides allotting 210 acre land to Taiwan Industrial Association (TIMA) for an electronic manufacturing cluster.

An agency report quoting Noida and Greater Noida Authorities’ Chairman Rama Raman said the first Metro project is from Sector 71 Noida which will pass through Sectors 122 and 123 and reach Greater Noida West at Sector 4 and further extend to Ecotech 12, Sector 2,3,10 and 12 and end at Knowledge Park 5.

The other proposed project is from Okhla Bird Sanctuary in Noida till Sector 142 connecting Sectors along Noida Greater Noida Expressway.

The total project cost of these two projects is Rs 6,710 crore, he said.

The Board has also approved Rs 600 hike in land compensation for direct purchase of flood zone land along Yamuna and Hindon rivers in Noida.

At the last Board meeting, Rs 2,905 per square meter was approved. As farmers were not ready to sell land to the Authority at that rate, the Board has hiked it to Rs 3,500 per square meter.