The hub, which will be developed on the pattern of the Cyber Hub at Gurgaon, is based on a TOD model which aims at promoting use of public transport over personal vehicles.
"The Karkardooma TOD Project is the first-of-its-kind and will be developed around a transit mode, i.E., metro stations having an influence area of 500 m," DDA said in a statement.
The decision was taken at a meeting of DDA at the Raj Niwas today.
The project is next to two metro stations, a regional railway station, Anand Vihar Railway Station, Anand Vihar ISBT, DTC bus terminal and residential colonies such as Anand Vihar.
According to DDA, "the project would provide for 4800 Homes (21,000 new residents) and 25,000 new jobs. It would provide 80,000 sq m of retail space including departmental stores, convenient shopping and grocery stores in addition to high quality restaurants, eat-outs, plazas and recreational areas."
"All other towers are 15 storeys or less. The project would also provide a large 5-acre community park open to large communities in addition to several 2-3 acre neighborhood parks. It would not require additional water from DJB and will work within the 2.7 MLD water supplies already available at the site from DJB," it said.
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