Ghaziabad body confirms Indirapuram handover with Rs 1.85 billion pact
Real Estate

Ghaziabad body confirms Indirapuram handover with Rs 1.85 billion pact

Ghaziabad's long-pending handover of Indirapuram from the Ghaziabad Development Authority (GDA) to the Ghaziabad Municipal Corporation (GMC) has taken a major step forward. In a meeting held in Meerut, the GDA board, led by divisional commissioner Selva Kumari J, finalised the Rs 1.85 billion cost for the handover, following a joint survey of civic amenities conducted in June by both the GDA and the GMC.

Under the agreement, GDA will allocate Rs 1.85 billion to GMC, with Rs 500 million earmarked for road repairs and infrastructure improvements across 80 km, Rs 250 million for sewage management, and Rs 200 million for water infrastructure upgrades, according to municipal commissioner Vikramaditya Singh Malik. Additionally, Rs 150 million will be invested in solid waste management, Rs 137 million for streetlight maintenance, and Rs 110 million for park upkeep.

Two land parcels will also be handed over by GDA to GMC within six months, including a 4,000 sqm plot for a waste transfer station and a 4,500 sqm plot for a material recovery center.

The GDA will stagger its payments over the next 10 months, with Rs 700 million being transferred upfront to initiate the handover process. The second instalment of Rs 400 million will be disbursed by December 31, followed by another Rs 400 million by March 1, 2025, with the remaining Rs 350 million paid by July next year.

The handover process, stalled since 2016 due to disputes over payment amounts, is now nearing completion. GMC originally demanded Rs 3.65 billion, citing extensive repairs required in Indirapuram, while the GDA argued that GMC already collects house taxes and should fund the repairs through those means.

Councillor Sanjay Singh of ward number 100 expressed relief over the agreement, noting that the 462,000 residents of Indirapuram will finally see comprehensive development under GMC's administration.

(ET)

The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com

Ghaziabad's long-pending handover of Indirapuram from the Ghaziabad Development Authority (GDA) to the Ghaziabad Municipal Corporation (GMC) has taken a major step forward. In a meeting held in Meerut, the GDA board, led by divisional commissioner Selva Kumari J, finalised the Rs 1.85 billion cost for the handover, following a joint survey of civic amenities conducted in June by both the GDA and the GMC. Under the agreement, GDA will allocate Rs 1.85 billion to GMC, with Rs 500 million earmarked for road repairs and infrastructure improvements across 80 km, Rs 250 million for sewage management, and Rs 200 million for water infrastructure upgrades, according to municipal commissioner Vikramaditya Singh Malik. Additionally, Rs 150 million will be invested in solid waste management, Rs 137 million for streetlight maintenance, and Rs 110 million for park upkeep. Two land parcels will also be handed over by GDA to GMC within six months, including a 4,000 sqm plot for a waste transfer station and a 4,500 sqm plot for a material recovery center. The GDA will stagger its payments over the next 10 months, with Rs 700 million being transferred upfront to initiate the handover process. The second instalment of Rs 400 million will be disbursed by December 31, followed by another Rs 400 million by March 1, 2025, with the remaining Rs 350 million paid by July next year. The handover process, stalled since 2016 due to disputes over payment amounts, is now nearing completion. GMC originally demanded Rs 3.65 billion, citing extensive repairs required in Indirapuram, while the GDA argued that GMC already collects house taxes and should fund the repairs through those means. Councillor Sanjay Singh of ward number 100 expressed relief over the agreement, noting that the 462,000 residents of Indirapuram will finally see comprehensive development under GMC's administration. (ET)

Next Story
Infrastructure Energy

Gujarat Powers Ahead with Solar Energy

Gujarat is emerging as a leader in India’s solar energy sector, with an installed capacity of 14.7 GW, making it the second-highest solar capacity state in the country. The state's total renewable energy capacity stands at 27.8 GW, and ambitious plans aim to add 31.9 GW of solar-wind hybrid projects. These details were shared by Arun Mahesh Babu, Managing Director of Uttar Gujarat Vij Company Limited (UGVCL) and Gujarat Power Corporation Limited (GPCL). Babu highlighted Gujarat’s solar and wind energy projects, which are instrumental in helping India meet its national target of 500 GW of ..

Next Story
Infrastructure Energy

UK Shuts Last Coal Plant as India Maintains Coal in Energy Mix

As the UK officially closed its last coal power plant signaling its exit from coal-based energy, policy experts in India emphasized that coal will remain part of India's energy mix for the foreseeable future. While developed nations like the UK are moving towards coal-free energy systems by 2040, India faces unique challenges as a developing country with substantial energy demands. The UK's closure of its last coal plant marks a significant moment in energy history, as the country had been one of the pioneers of coal power since 1882. According to global energy think tank Ember, more than a th..

Next Story
Infrastructure Urban

NCLAT Clears Supertech to Resume Work on Doon Square in Dehradun

The National Company Law Appellate Tribunal (NCLAT) has granted approval for Supertech to resume construction of its Doon Square project in Dehradun. This decision follows the submission by Supertech that the lender, co-developer, and homebuyers had all accepted its proposal to complete the stalled project. The approval paves the way for the project’s completion within 515 days, or just over one year and four months. Out of the 750 planned units, only 150 studio apartments have been delivered, with the remaining awaiting completion. Supertech’s proposal, submitted to NCLAT, was accepted by..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000