The Ghaziabad Development Authority has allocated Rs 1,500 crore for various infrastructure development projects, to be undertaken by it in the city, in its budget estimate for financial year 2016-17. The budget estimate received in-principle approval from the board of GDA, in a meeting held in Ghaziabad on April 19.
The board meeting was presided by the UP principal secretary (housing), Sadakant Shukla. Total revenue expected to be received by GDA during 2016-17 has been estimated at Rs 2,056.80 crore, while total expenditure to be incurred by it under various heads during the same 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 bank will be built by buying land directly from farmers in accordance with the policy issued by the state government. Compensation rates, at four times the circle rate for rural areas and twice the circle rate for urban areas, will be paid to landowners."
GDA officials said 500 hectares have been identified for the land bank, in the Pipeline Road area behind Raj Nagar Extension, and alongside Northern Peripheral Road. This land belongs to farmers in five villages around the area.
GDA has estimated an income of Rs 771 crore from fees and levies imposed upon development works in various zones. Similarly, it has estimated an earning a sum of Rs 705 crore through sale of developed plots and buildings.
A total of 44 proposals, pertaining to various works and policies, were given the green signal by the board during the meeting, which also approved a proposal to introduce e-tendering for certain categories of development works in the city. "This proposal has been mooted to bring about more transparency and accountability in government work. Projects with budgets above Rs 40 lakh will be open for e-tendering after May. As of now, these projects are taken up through open tendering, by the two-bid system," said GDA vice-chairman Vijay Yadav.
