The cost of project is estimated at Rs 437.21 crore, which includes Rs 55.59 crore for construction of the rail over bridge (ROB).
Rs 349.77 crore, around 80 per cent of the cost, would be provided from the Urban Development Fund and Rs 87.44 crore will be DDA's contribution.
Puri said the project is for one of the busiest points which see frequent traffic shutdowns due to closing of a level crossing on the busy Delhi-Karnal rail route.
The project is planned for completion by April 2019.
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When completed, this will be the widest flyover in Delhi with a width of 51 metre, the release said.
This is one of the five projects approved for funding through the Urban Development Fund by the Ministry of Housing and Urban Affairs for combating traffic congestion in Delhi.
Puri asked the Delhi government to expedite the process for implementing the Phase-IV of Delhi Metro, as it was already running behind schedule.