The Uttar Pradesh State Industrial Development Corporation (UPSIDC) will levy a “Metro Cess” on land-owners in the industrial region of Ghaziabad to part-fund the proposed 9.41-km stretch of the Metro rail line from Dilshad Garden, Delhi, to New Bus Stand, Ghaziabad.

The amount is in-built into the Government land price or circle rate, which was recently increased. Every time a land transfer takes place, Rs 5,000 per sq m will be transferred to a dedicated fund.

“It was decided that UPSIDC will generate funds for this purpose through levying Metro Cess at the rate of Rs 5,000 per sq m on land in industrial area in and around Ghaziabad,” a release said. The body has to raise Rs 65 crore for the project.

Special purpose vehicle

In another move, the corporation has decided to develop integrated an industrial township at Chola in Dadri-Noida-Ghaziabad area through a Special Purpose Vehicle formed with Delhi-Mumbai Industrial Corridor (DMIC), Greater Noida Authority and Bulandshahar Khurja Development Authority.

On the proposed industrial township in DMIC, Managing Director of UPSIDC Manoj Singh said the corporation would contribute to equity in the form of around 2,000 acres in Chola near Ghaziabad.

This decision was taken in a meeting of the Board of Directors of UPSIDC a few days ago under the Chairmanship of Infrastructure & Industrial Development Commissioner (IIDC), Anil Kumar Gupta.

IIDC said, “Different agencies of the UP Government will have 51 per cent equity, while DMICDCL (Delhi Mumbai Industrial Corridor Development Corporation Ltd) will have 49 per cent stake in the proposed SPV to develop integrated industrial hi-tech township.”

IIDC is also exploring the possibility of developing a project such as the DMIC along the Eastern rail freight corridor. DMIC is along the Western rail freight corridor.

Of the total length of 1,890 km of the Eastern freight corridor project, around 1,100 km is in Uttar Pradesh. Moreover, five feeder routes measuring around 700 km will be developed in the State out of a total 14 feeder routes proposed under Eastern Freight Corridor.

(This article was published on September 13, 2012)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.