The revised fares, officials said, are expected to increase daily collections to around Rs 1 crore and the changes will affect both daily commuters and tourists heading to Agra either Mathura.
The move comes after the Mumbai-based company Suraksha Group took over Jaypee Infratech Ltd, which managed the expressway for so long.
After the new rates, motorcycles, which previously paid Rs 1.25 per kilometre, will be charged Rs 1.5, a 20 per cent increase. Private cars and other light four-wheeled vehicles will face a 13.5 percent increase, with toll rates increasing from 2.6 to 2.95 rupees per kilometer.
For light commercial vehicles such as small trucks and minibuses, the fare will increase from Rs 4.15 to Rs 4.6, an increase of 10.8 percent. Buses and heavy trucks will see a 10.7 percent increase, and the toll will change from Rs 8.45 to Rs 9.35. Multi-axle trucks and oversized vehicles will have to pay the maximum toll, with the revised rates now at Rs 14.25 and Rs 18.35, respectively. The tariff hike is part of the resolution plan put forward by Suraksha during the Jaypee acquisition, YEIDA CEO Arun Vir said. Singh. The plan was approved by the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT). It includes a provision for such toll increases each year. The tariff review was on hold for more than a year.
During a YEIDA board meeting on January 29, a proposal put forward to increase fees did not reach consensus.
The authority had sought a report from Jaypee mentioning its revenue collection and traffic forecasts on the expressway, keeping in mind the upcoming Jewar International Airport. The rates, however, had not undergone any change.
Jaypee had built the expressway in 2012 and had also secured land to develop 30,000 apartments in Noida and Greater Noida.
However, the company was experiencing financial difficulties. After a protracted legal battle in NCLT and NCLAT, Suraksha acquired the debt-ridden company in June this year. One of the conditions imposed by Suraksha was an annual increase in toll.
Initially, the Uttar Pradesh government approved toll increases annually when the expressway became operational in 2012. In January 2015, the state government asked YEIDA to take responsibility for determining toll adjustments.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.