Noida and Ghaziabad are looking forward to making more money with a new policy that focuses on Transit Oriented Development (TOD). This policy, introduced by Uttar Pradesh (UP) in 2022, aims to improve areas near mass transit systems like metro corridors and bus routes.
The idea behind the TOD policy is to encourage building homes and shops close to transit stops so that people can easily use public transport. This is especially important for Noida because of the upcoming international airport in Jewar and other transit systems like the metro and expressway. Ghaziabad is also focusing on development around its rapid rail section.
Under this policy, areas near transit systems will see an increase in the amount of construction allowed (called FAR). This means developers can build more on the same piece of land. Ghaziabad expects to earn about Rs 1,500 crore every year from projects in TOD zones.
The revenue collected from these areas will be used for development projects by organizations like the Ghaziabad Development Authority (GDA). Currently, there are several TOD zones identified in Ghaziabad, such as near Sahibabad station and along the rapid rail line.
Noida is also planning to benefit from the TOD policy with new transit systems like the rapid rail corridor to the Jewar airport and a pod taxi/light rail system. The area around these transit systems will have higher construction limits too.
Experts predict that the revenue from taxes and other sources could increase by 60-70% due to the TOD policy. This will have a significant impact on areas near transit stations, especially along the Yamuna Expressway where development is yet to happen.