The project will also develop Government office accommodation for nearly 2.42 lakh sqm at Netaji Nagar.
The total estimated cost of the project is Rs.32,835 crores including maintenance and operation costs for 30 years. The project shall be implemented on self-financing basis by sale of commercial BUA in Nauroji Nagar and parts of Sarojini Nagar, adjoining the Ring Road.
The project will be completed in five years in a phased manner.
Background:
At present there is shortage of Government accommodation in National Capital Region. This leads to Government officials waiting for eligible housing. Thus, Ministry of Urban Development has moved a proposal for redevelopment of existing old dilapidated housing colonies to augment the housing stock by making optimum utilization of land resources as per Master Plan Delhi (MPD) - 2021 and using modern construction technology with green building norms and in-house solid / liquid waste management facilities.
Powered by Capital Market - Live News