Real Estate near Ghaziabad Metro Track to witness Boom!

Ghaziabad:  Owners of properties along the metro rail track in Ghaziabad have been allowed to increase their plot coverage or add additional floors, an official of the Ghaziabad Development Authority (GDA) said Monday.

Authority’s Vice Chairman Santosh Kumar Yadav said the GDA board has passed a proposal to enhance the floor area ratio (FAR) from the existing 33 percent to 66 percent along the over two-km-long metro track from Anand Vihar in Delhi to Vaishali in Ghaziabad.

The proposal is expected to bring in an additional revenue of about Rs.150 crore to the GDA, the official said.

The board passed 15 proposals in all.

To sell its properties at high premium, the GDA passed a proposal for introduction of a two-bid system in its auction. Bidders will now have to qualify in the technical bid before entering into the financial bid, the official said.