GDA Budget: In Tandem with the Union Budget
The Ghaziabad Development Authority (GDA) recently announced its general budget for the current financial year 2015-16. With infrastructure being the core, it seems to be in tandem with the Union Budget announced last month. Among several announcements, the allocation of over Rs 2,500 crore specifically for development projects was a reason to cheer for denizens.
Interestingly, the core objective for this fiscal is the extension of metro network to enhance the inter-city travel.
Additionally, the 80 per cent of the additional budget allocation of Rs 703 crore would be spent on the Dilshad Garden-Ghaziabad New Bus Stand Metro project.
“This will boost the infrastructure of Ghaziabad which is very important for the realty market of micro pockets such as Dilshad garden, Vaishali, Vasundhara and others,” says Ashok Gupta, CMD, Ajnara India Ltd.
Supporting Gupta’s viewpoint, Deepak Kapoor, Director, Gulshan Homz adds, “a very decent budget announced by GDA with primary objective to enhance the infrastructure and connectivity of the region. Ghaziabad is one of the prime locations of NCR with its rapid connectivity with Delhi. Thus, it is very important to keep the infrastructure development on the go so as to keep up the end users interest here. A new roadway and metro station is the most apt solution for such destinations where market is heavily end user driven.”
In addition to developmental planning, GDA has also envisaged plans to spend Rs 700 crores for land acquisition and reserve Rs 88 crores as establishment costs and Rs 41 crores as administrative costs.
Add-ons
Two projects that got a major fillip in the budget was building of petrol pumps for the relatives of martyred soldiers and construction of a link road leading to multi-level parking in Vaishali. Both these projects have got a green signal from the authorities.
Realty Sector’s Opinion: Better than Last Year’s Budget!
Looking at the overall picture, the realty sector seems to be happy. “The expenditure plan announced in this budget is better than previous year’s and will help in the development of infrastructure. A new link road and metro station will help in providing a little push to the realty market of Ghaziabad, which has been keeping silent for a while now,” opined Rupesh Gupta, Director, JM Housing.
Showing similar optimism, Kushagr Ansal, Director, Ansal Housing says, “This budget plan by GDA is better than last year. Extension of metro connectivity was on the cards and it has been duly fulfilled by the authority along with new road connectivity in offer. New land will also be required in abundance to increase the infrastructure and thus land acquisition has also been planned. All in all, this is a very thoughtful and a fair budget.”
