The multi-storyed project coming up in Kalkaji Extension Slum Cluster in multiple phases will have over 8,000 houses.
"Chief Minister Sheilaji laid the foundation for the first in situ housing project in slum clusters in Delhi. In the first phase 3,000 flats worth over Rs 200 crore will be developed," Delhi Assembly MLA and DDA member Subhash Chopra said.
Chopra said the project will be executed in three years.
"Rest 5,000 flats will be developed in the second and third stages at a cost of about Rs 1,000 crore. Carpet area of the flat will be 25 sq metre and plinth area will be 37 square metre with other facilities.
More From This Section
The building will come up replacing Nehru Camp, Bhumiheen Camp and Nasvjivan Camp cluster, he said.
Terming it as "DDA's dream project", Chopra said work was going on it for the last five years but "the tenders were cleared by January only and then the Delhi Urban Art Commission and fire and environmental clearances were given subsequently".
The chief minister today also laid the foundation stone for a 2,555 sq metre air-conditioned community hall.