Though it was planned during Mayawati's tenure as Chief Minister of Uttar Pradesh, the change of guard saw the project being put on hold as new officers and the state government wanted changes in the project before giving the approval.
Noida CEO Sanjiv Saran and Greater Noida CEO Rama Raman told media after the meeting of the two Boards that the total length of the Metro project is 29.70 kilometers.
It will be run on 1433 gauge and will have 22 stations.
The maximum speed of train would be 95 kilometer per hour while scheduled speed is 35 kilometer per hour.
The total estimated cost at June 2009 prices is Rs.2781 crore without land and Rs.3017 crores with land.
Present-day cost of the project is expected to be around Rs.5500 crores, they said.
The areas to be covered under the project are Sectors 32, 51, 83, 101, 143, 147, Knowledge Park II, Pari Chowk, Sector Alpha, Delta and Knowledge Park IV.
As Greater Noida Industrial Development Authority as per NCRPB master plan approval has to construct 20 to 25 per cent EWS and LIG houses in near future, the authority has planned to develop 10000 such houses.
Metro rail project will provide these areas also with connectivity.
As NCRPB expect 28 lakh population by 2031 in Greater Noida, the authority has been planning for infrastructure and Metro rail will help in populating the area.
The present population of Greater Noida is 2 lakh. Besides, around one lakh students are studying in various colleges in the city.
Metro rail between Noida and Greater Noida will also help the Delhi Mumbai Industrial Corridor project's investment region of Dadri-Noida-Ghaziabad.
In future, talks with DMIC too could be held to have some funding from them too.
To recover the cost, it was decided to increase the FAR (floor area ratio) of group housing projects from 2.75 to 3.5 in the projects falling within 1 kilometer distance on either side of the metro rail track.
The Board also approved the Noida City Centre to Sector 62 Metro rail project whose total length is 6.675 kilometer. The total project cost is Rs.1807 crores and the number of stations is six.
As per traffic forecast study of this stretch by Delhi Metro Rail Corporation, by 2016 the expected passenger volume is 76,768 which will rise to 98,390 in the year 2021.
In 2031, the passenger volume will be 148,366 and in 2041 it is expected to be 210,967.