Funding for Noida-Greater Noida Metro Rail approved

The Noida Authority, on December 22, 2016, approved the funding pattern for the Noida-Greater Noida Metro Rail Project, at its board meeting in Lucknow.
The 14.958-kilometre metro line, between Sector 71 to Knowledge Park 5 via Greater Noida West, will be built at a cost of Rs 2,668.16 crores.
Around 10% of the cost will be borne by the Greater Noida Authority and 5% by the Noida Authority. 45% of the cost will be taken as loan from banks, 12.95% equity will be given by the central government and 12.95% equity amount will be given by the state government.
See also: Noida-Greater Noida Metro Rail unlocks property potential
The entire route of this metro rail project will be elevated, with nine stations – two in Noida and seven in Greater Noida. The first station in Noida will be Sector 122 and the second will be Sector 123. In Greater Noida, metro stations will be at Sector 4, Ecotech 12, Sector 2, Sector 3, Sector 10, Sector 12 and Knowledge Park.
The Noida Board also gave its approval for the development of two metro stations at a cost of Rs 126 crores and Rs 81 crores.
The project is expected to be completed by 2020-21 and will cater to 1.23 lakh passengers, daily. The project was inaugurated by Uttar Pradesh chief minister Akhilesh Yadav, on December 14, 2016.
By: Housing.com/news