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.
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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.