Ghaziabad Development Authority (GDA), which has availed a Rs 700 crore loan from Housing & Urban Development Corporation (HUDCO), is set to speed up its pending projects.
"We have decided to acquire Sahara and farmers’ 281 acre land adjoining Madhban Bapudham mega residential project. After this acquisition, the authority would have sufficient land pool on which the GDA would plan future projects" said GDA Vice Chairperson Kanchan Verma.
Verma further said, "Although the HUDCO has sanctioned Rs 700 crore but we will avail only Rs 500 core from them so that the interest is not levied on us for the entire sanctioned amount. We have avenues to speed up our other projects of flyovers at NH-58 for Raj Nagar Extension and Vasundhara flyover."
"We have other sources of funds now since NCR board would provide us Rs 250 crore and our Rs 50 crore is lying with collector for land acquisition. The total funds with us would be over Rs 800/- after this sanction from HUDCO added Vice Chairperson of GDA.
The metro line work, which is lying pending for the installation of block at new bus stand, would also speed up after the Delhi Government have cleared to divert power to them for about a month after the transmission department is set to install a tower on irrigation land near Ghazipur at UP gate. The railway also have cleared to lay block over railway track which have been lying pending for the clearance for elevated road, Verma added.
"I am satisfied that before going on study leave to london School of Economics for a year on September 16, 2017, all pending projects are getting clearance from concern departments so that the GDA projects would be on track to sum up at the earliest," said the officer.