GDA to spend Rs 2,526 crore on infra development in Ghaziabad

The Ghaziabad Development Authority’s budget for 2015-16 passed on Monday proposes heavy spending on developing the infrastructure of the city. The Authority plans to spend around Rs2,526 crore on development projects and land acquisition, even as it envisages an income of Rs2,162 crore during the year.

The budget approved by the GDA at its board meeting on Monday, allocates most spending in developing the 9.41km Metro extension, the Hindon elevated road and the northern peripheral road.

“The major portion of the expenditure would be spent on three infrastructure projects undertaken by the Authority for various developmental works, we would be spending around Rs. 1,500 crore while Rs. 700 crore would be spent on land acquisition and purchase for developing land bank, ”GDA Chairman Santosh Kumar Yadav said.

A major part of GDA’s receipts in the coming fiscal year would be from sales of pending properties and development charges received on account of map approvals. In 2015-16, GDA expects around Rs. 842 crore as development charges from map layouts clearance and another Rs. 800 crore from sales of its pending properties.

In addition to the budget, the authority also proposes to spend around Rs. 527 crore from its Infrastructure Development Fund for over 33 projects. The projects include construction of two 33/11kv electricity sub-stations at Raj Nagar Extension for Rs. 10 crore, a four-lane flyover at Hapur Chungi for Rs. 45 crore, a weavers’ mart for Rs. 50 crore at Madhuban Bapudham scheme and another Rs. 45 crore for the rail over bridge project at Vijay Nagar.