EXPRESS NEWS SERVICE | New Delhi | Posted: October 19, 2014 2:35 am | Updated: October 19, 2014 2:40 am

The Delhi Metro Rail Corporation (DMRC) and the Noida and Greater Noida Authorities signed an agreement for the construction of two Metro links —Noida City Centre to Sector 62 and Noida City Centre to Greater Noida — on Saturday. The two links are expected to be completed in 2017 at a cost of Rs 7,413 crore.

The 6.675-km link between City Centre Metro station in Sector 32 and sector 62 is estimated to cost Rs 1,880 crore while the 29.707-km line connecting City Centre Metro station with Greater Noida will be constructed at an estimated cost of Rs 5,533 crore.

On Saturday, the agreement was signed between SD Sharma, the director of business development, DRMC, and Rama Raman, chairperson and CEO of Noida and Greater Noida Authority. After the agreement was signed, two cheques  — amounting to Rs 15 crore and Rs 14.5 crore — were handed out to the DMRC. Also present at the signing was Mangu Singh, Managing Director of DMRC.

Noida Authority officials said the two Metro routes had received the official approval from UP chief minister Akhilesh Yadav on September 30, 2014. “There was a delay on both ends with regard to the draft MoUs. But now that agreements have been signed, payments will be processed and construction work will begin,” an official said.

Authority officials said the two lines will be instrumental in boosting connectivity to Noida. The City Centre line will connect Sector 32 with Sector 62 and allow commuters to reach NH-24 without difficulty. It is expected to be completed with 36 months after construction begins. The proposed route is expected to have six elevated stations at Sectors 34, 52, 59, 61, 62 and Electronic City at NH-24.

Officials said currently, the most commonly used connection between between Noida and Greater Noida is the Noida-Greater Noida Expressway. “However, public transportation on the route leaves much to be desired. The second Metro line — between Noida and Greater Noida — will boost connectivity greatly between the two,” the official said.

The Noida-Greater Noida Metro line will start from the Noida City Centre in Sector 32 and head to  Greater Noida via stations in Sector 50, 51, 78, 101, 82, Dadri Road, 83, 85, 137, 142, 143, 144, 147, 153 and sector 149 in Noida.

It will enter Greater Noida at Knowledge Park II, go through Pari Chowk, Sector-Alpha 1 and Sector-Alpha 2 before terminating at the Depot station, proposed to come up near Knowledge Park IV in Greater Noida.  This route will be commissioned by 2018.

While the entire Metro alignment has been proposed to be elevated, the route is expected to have a total of 22 stations of which 13 will be on the ground and 7 at an elevated level. Two additional stations have been planned at Knowledge Park-I and Sector Delta-1 in Greater Noida for future expansion.

“The need for an effective public transport system between the two cities is important. The rise in population in the district has been phenomenal and we have to factor that in while foreseeing future needs,” the official said.

103-km corridor to link South-West in Phase IV plan 

Expected to be completed by 2022, the Delhi Metro Rail Corporation (DMRC) has proposed a 103.93 km-long corridor in its Phase-IV project to connect areas in West Delhi to South Delhi. The proposal comes at a time when work on Phase-III is yet to be completed.

According to a DMRC spokesperson, the corporation has submitted a detailed project report (DPR) for the new phase to the Delhi government as well as the Union Urban Development Ministry for approval.

“The total work can be completed in 72 months from date of start. The work should be started by April 2016. Various sections can be opened in phases by March 31, 2022,” the spokesperson said.

However, DMRC officials maintained that project completion depends on when land required for the project is made available to them. This is done within a six-month period prior to the date of sanctioning of the project, officials said.

Even though Phase-III is scheduled to be completed by 2016, DMRC wants to begin work on Phase-IV by mid-2016.

In the fourth phase, DMRC plans to connect areas such as Narela, Rithala, R K Ashram, Bawana, Najafgarh, Mahipalpur through six new corridors — Rithala-Narela, Janakpuri West-R K Ashram, Mukundpur-Maujpur, Inderlok-Indraprastha, Tughlaqabad-Aerocity and Lajpat Nagar-Saket G Block.

While the Delhi Metro network is already 190 km long, Phase-III will add 140 kms to it. The figure will cross the 400 km mark with Phase-IV.

In Phase-III, majority of the work on the Jahangirpuri-Badli, Mandi House-Kashmere Gate and Faridabad extensions has been completed. The corridors are expected to be operational by next year, officials said.

– See more at: http://indianexpress.com/article/cities/delhi/metro-link-to-g-noida-under-way/99/#sthash.lVtDLkwt.dpuf

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International airport at Greater Noida may finally take off, minister says

International airport at Greater Noida may finally take off, minister says

INTERNATIONAL AIRPORT AT GREATER NOIDA MAY FINALLY TAKE OFF, MINISTER SAYS

International airport at Greater Noida may finally take off, minister says
NOIDA: Talk of an international airport in Greater Noida has resurfaced with newly appointed junior minister in the civil aviation ministry and MP from GautamBudhNagar, Mahesh Sharma, saying he will explore the possibility of setting up the project.

Sharma, who will take charge on Wednesday, said he would discuss the issue with the UP government and expects the proposal to be finalized within a month.

“Prime Minister Narendra Modi is keen to develop world-class infrastructure in the country, which will help generate jobs,” Sharma told TOI in an interview after he was named minister of state for civil aviation, tourism and culture.

“I guess within a month, a proposal will be finalized and discussed at a higher level,” he said, but did not elaborate.

Sharma, a doctor and owner of a chain of hospitals in the Noida-Greater Noida area, said development of the region had suffered due to the poor law and order situation and faulty policies of the state government. An airport would help the area emerge as an industrial hub, he added.


“Strategically, Noida and Greater Noida have great potential to generate more jobs in north India, especially in western UP. There is a need to develop an airport in this belt,” he said. Noida has got a minister in the Union cabinet after nearly 10 years.

The idea of an international airport in the region is not new. In 2001, then UP chief minister Rajnath Singh had proposed an airport in Greater Noida. Later, the Mayawati-led BSP government also attempted to get approval for the project in Jewar, near Greater Noida.
But the AkhileshYadav government scrapped the project, citing a clause that bars development of a second airport close to an existing one.

This move was considered a major blow for local industries and hurt development in the region. In a damage control move, the Greater Noida Authority has proposed a heliport project but this too has suffered from government apathy.

Existing rules do not allow a second airport within a 150-km radius of an existing one, unless the latter is operating to capacity and is unable to meet the city’s demand. That is why Navi Mumbai, a suburb of the financial capital Mumbai, is getting an airport.

When asked on Monday if the new civil aviation policy would allow multiple airports in Indian cities, aviation minister Ashok Gajapathi Raju said: “We are not there yet.”

The issue of Noida getting an airport at Jewar was last raised about seven years ago when Mayawati became the CM of UP. On her first trip to Delhi to meet then PM Manmohan Singh, she had raised this demand. The PM had agreed to look into her request.

In Delhi’s case, the expansion plans for IGI Airport are such that they will meet the capital’s requirement till the late 2020s. The GMR Group is opposed to the idea of another airport for Delhi as it says that would render both the airports economically unviable. Because of these reasons, the Jewar airport project did not take off.

Moreover, Delhi International Airport Private Ltd (DIAL), which manages IGIA, enjoys the right to veto any second airport that conflicts with the mandatory 150km stipulation.

The UP government had acquired 2,471 acres of land, spread across 35 villages for the airport project in 2003.

The Yamuna Expressway Authority has planned to develop industries on some portions of land acquired for the airport in Jewar. The remaining land has been left vacant for development plans for the future.

“An international airport in this belt will definitely help the economy in the area, and help attract foreign investors. With the latest developments it appears that things will improve and the region will become a hub for industries,” said Aditya Ghildiyal, president, AGNI (Association of Greater Noida Industries).

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Subvention Scheme

Subvention Scheme is a new form of bank financing for home loans. According to this scheme, after an individual applies for a loan for a property under construction, the concerned person need not pay any Pre- EMIs till fixed period or possession i.e., all the interest till fixed period or possession will be paid by the developer. So, basically you own a property without having to pay any interest till fixed period or possession! Currently, banks have agreed to this form of financing only for Category A developers. Under the subvention scheme the banks / financial institutes disburse 80% of the value of the property to the company and instead of passing the Payment discount to the customer; the Company pays the PRE – EMI (interest) component to the bank on behalf of the customer for the specific period as per the subvention scheme plan. The loan is sanctioned / disbursed by the bank based on the eligibility of the customer to service the loan. Basically, it’s the end user or buyer who is lent the money from the bank. The bank has no concern with EMI sharing scheme, it just finances your home loan on the basis of the cost of your flat. The bank charges EMI from the buyer’s account always. However, under the subvention scheme the banks deduct the EMIs from the builder’s account. Even in such cases, the builder will just pay the interest and not the principal.

Benefits to Buyer, Builder and banks by offering subvention scheme


  • A pre EMI holiday till fixed period or possession where you get time to plan for the finances.
  • Ideal for customers who are living on rent. First, the buyer pays rent and no EMI, later he pays EMI and no rent.
  • An initial payment of 15% – 20% thus easing financial load on customers.
  • Customers able to source loans from the bank at a lower rate than the market rate.
  • Quality assurance – when banks are involved it ensures that the customer’s investment is safe.
  • Greater return on investment with subvention scheme given the property price hike over a period of 2 years as compared to the normal bank scheme.
  • Customer will not have to pay any installment or interest against the loan.
  • The interest payable by the customer for the applicable period will be shouldered by Developers.
  • Only after specific period or after possession EMI will start as per the term agreed by the customer with Bank.
  • Own the apartment – with the minimum investment: Pay 15% – 20% only as initial payment.
  • Client has an option for pre closure** of the loan amount even immediately after the applicable period with no pre closure** charges, if the pre – payment is being made out of his own sources.
  • The customer is also benefited as the builder ensures a timely delivery of the project to decrease the interest rate burden on him.
Builder benefits


  • Developers attract buyers by launching projects under subvention scheme
  • For cash-strapped developers, the 20 per cent upfront payment gives them adequate liquidity. And there is pressure to execute the project quickly. The remaining 80 per cent is funded by the bank, which creates a bipartite escrow account that keeps disbursing the funds as the project progresses.
  • The developer utilizes the funds required for construction at an interest rate on home loan that is far cheaper than the commercial interest rate
 
Bank benefits


The bank gets a pool of customers from a single residential project. The developer keeps referring customers in bulk and the bank approves the loans at the earliest. This also proves cost-efficient for the bank.
Subvention scheme is an ideal example of win win situation as all the parties builder / buyer and banks are benefitted. Builder attract buyers by offering subvention scheme, buyer gets emi holiday for fixed period and bank earn interest and also attract buyers for home loans.

 

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Greater Noida Metro work starts

Greater Noida Metro work starts

NOIDA: The Delhi Metro Rail Corporation (DMRC) has finally kicked off the Noida-Greater Noida Metro link project, more than three months after it inked an MoU with authorities of the twin cities.The DMRC on Friday started work on soil testing for putting the 28-km Noida-Greater Noida Metro route on track, officials told TOI.For soil testing, sampling is being done near the site of the proposed Metro station located between Galgotia College and Pari Chowk as well as near the petrol pump of Sector Delta-1 in Greater Noida.Soil samples are being collected from as deep as 120 feet; soil tests are important because the Metro line would be elevated and constructed on pillars, and this work will be completed within the next 15 days, the officials said.With nearly 3,000 trees falling in the path of the Metro corridor, the Noida Metro Rail Company (NMRC) has also launched a survey to ascertain the exact number of trees, which need shifting or relocating.
The move follows DMRC’s application to Gautam Budh Nagar’s conservator of forest, requesting for clearances for the operation. So far an application for approval to shift 72 trees has been received by the department. Trees in the route of the track will be shifted or relocated as per norms, the officials said.
The Rs 5,500-crore route is proposed to have Sector 71 as its originating station, while the last station in Greater Noida will be Bodaki. The track will have a total 21 stations, of which some will be constructed on ground while other stations will be elevated.Two stations at Knowledge Park-I and Sector Delta-1 in Greater Noida are planned for future expansion. It will enter Greater Noida through Knowledge Park-II and traverse Pari Chowk, Sector-Alpha 1 and 2, before terminating at depot station proposed near recreational green, Knowledge Park-IV in Greater Noida.

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Delhi Metro to extend Dwarka-Noida City Center corridor to Greater Noida  SHARE

Delhi Metro to extend Dwarka-Noida City Center corridor to Greater Noida SHARE

NEW DELHI: If you’re looking to buy a flat in the interiors of Noida or in Greater Noida, here’s some good news. Delhi Metro is extending its existing Dwarka-Noida City Center corridor till Sector 62 and, thereafter, to Greater Noida. The Sector 52 station will be an interchange station for another Metro line planned for Greater Noida.The alignment of the NOIDA CITY CENTER extension till Sector 62–a distance of 6.6km–will connect Noida with the heart of Delhi. One of the longest corridors in the Delhi Metro network, the extension will pass through sectors 34, 51, 59 and 62 to Electronic City. The proposed extension will start from the dead end of the existing Noida City Center station and run straight along the median of Captain SHASHI KANT MARG for about 2.2km before taking a left turn near Sector 52. It will run straight on the median of road leading to Sector 62 and along NH-24 for about 4.5km.”While taking the left turn from Captain Shashi Kant Marg towards Electronic City, it has been kept in view that there will be a need in the future to have grade separator arrangement (with clover leaves) at this crossing,” said a Delhi Metro Rail Corporation (DMRC) official.The length of the extension from dead end of Noida City Center station to the planned dead end near NH-24 is 6.675km.In Noida, the existing corridor has stations in sectors 15, 16 and 18, Botanical Garden, Golf Course and Noida City Center. “Botanical Garden station is planned as an interchange station for the Janakpuri-Botanical Garden line of Ph-III,” the official added. This corridor will be 36km long with over 20 stations. It is one of the two corridors coming up in Phase III of the network.The extension to Electronic City and beyond is expected to give a boost to the connectivity in NCR. What makes the alignment exciting, according to Delhi Metro, is the plan to have Noi da Sector 52 as an interchange station for the Metro line planned for Greater Noida.”The recommended network in the `Revised Metro Plan for 2021′ prepared by DMRC totalled a length of 413.83km, comprising Delhi and adjoining parts of NCR, and was slated for completion latest by 2021 in phases,” said the Metro spokesperson.

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