GHAZIABAD (Metro Rail News): The Ghaziabad Development Authority (GDA) has designed the Regional Rapid Transport System (RRTS) route up to 1.5 km on either side as TOD zones. The latest approval, which will be included in the city’s Master Plan 2031, is anticipated to increase the value of properties near the zones. Continue reading to find out more about the recent development.
The Ghaziabad Development Authority (GDA) has approved the creation of a transit-oriented development (TOD) zone along the RRTS corridor to help the local real estate market. With this choice, TOD zones are established for up to 1.5 km on either side of the rapid rail track.
The Uttar Pradesh government introduced the TOD policy in September of this year. The more excellent Floor Area Ratio (FAR), which will be increased between 33 and 50 per cent of the base FAR of 1.5, will result from the policy’s incorporation. Due to this development, the influence zone will experience vertical growth, and multi-storey buildings will make it possible to add more floors.
Additionally, it is anticipated that the development of TOD zones will generate a yearly income of about Rs 1,500 crore, which will be split equally between the GDA and the NCRTC.
Brijesh Kumar, Secretary, GDA, has shared that the Authority has sanctioned the proposal on TOD around the seven RRTS stations. However, the Board has instructed the concerned officials to invite objections or suggestions from the public before including the same in the Master Plan-2031.
Areas like Guldhar, Duhai, Muradnagar and Modinagar in Ghaziabad will benefit significantly from the policy, opine GDA officials. In Ghaziabad, the land use is primarily agricultural, which will be utilised for mixed, residential and commercial use with this approval, boosting the area’s real estate sentiments.
The Pradhan Mantri Awas Yojana (PMAY) officials resolved to invest Rs 23 crore during the GDA board meeting to construct about 500 housing units in Noornagar.
The Board has also scrapped the ropeway project between Vaishali and Mohan Nagar.
