The board has also approved Rs 600 hike in land compensation for direct purchase of flood zone land along Yamuna and Hindon River in Noida.
The Noida Authority Board today approved two metro projects worth Rs 6,710 crores along with allotting 210 acre land to Taiwan Industrial Association (TIMA) for electronic manufacturing cluster.
According to Noida and Greater Noida chairman Rama Raman the first metro project is from sector 71 Noida which will pass through sector 122 and 123 and reach Greater Noida west at sector 4 and further extends to Ecotech 12, sector 2,3,10,12 and end at knowledge park 5.
The other proposed metro project is from Okhla bird sanctuary in Noida till Sector 142 connecting sectors along Noida Greater Noida Expressway.
The total project cost of these two projects is Rs 6,710 crores, he said.
The board has also approved Rs 600 hike in land compensation for direct purchase of flood zone land along Yamuna and Hindon River in Noida.
At the last board meeting, Rs 2,905 per square meter was approved. As farmers were not ready to sell land to authority at that rate, board has hiked it to Rs 3,500 per square meter.
Further the e-tendering limit has been lowered from Rs 10 lakh to Rs 5 lakh. This will provide transparency in tendering process, the Chairman said.
Beside these, several other measures were approved by the boards for development of the twin cities.