Delhi Metro to reach Greater Noida by 2013

The Delhi Metro Rail is all set to connect to Greater Noida by 2013.

The Greater Noida Industrial Development Authority has approved the extension of Metro Rail after the Delhi Metro Rail Corporation (DMRC) gave a technical presentation to the authority about its extension to the sub-city.

“The DMRC is further preparing a detailed project report (DPR) on the proposed extension of the Metro Rail from Noida. The DPR is expected to be submitted around June 15, 2009,” said Lalit Srivastava, chairman Greater Noida Industrial Development Authority.

Srivastava added that the extension of Metro Rail is expected to entail an investment of Rs 5000 crore of which the Centre may grant Rs 1000 crore for the link.

“The remaining Rs 4000 crore can be raised through various means which may include bidding out the project to different players,” said Srivastava.

However, as per initial assessments the Metro Rail is expected to have five stations in the sub-city and will run parallel to the Expressway.

Further, in the wake of ongoing economic recession the authority decided to offer various concessions on the payment plan of land sold by it.

The authority announced that from now on the developers or individuals bagging plots falling in the category of industrial, institutional, IT parks, builder schemes will now be required to pay 5 per cent as registration amount and 10 per cent of the total amount within the next60 days.

Of the remaining 90 per cent amount the Greater Noida Industrial Development Authority is offering a moratorium on the interest for two years, whereby the amount can be paid in four equal instalments.

“The facilities have been provided to help the individuals and developers tide over the economic slowdown. The plan will be applicable to new plots and will not be applicable with retrospective effect,” said the chairman.

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