Smart City plans may cost a bit more to the people as the central government will soon start VCF (Value Capture Financing) in a bid to balance the cost of the world-class infrastructure that smart cities will be providing to the people. Owning to the highest standard of development that will take place due to government’s big role in urban planning, it stated that the plan to collect a little high tax in the developments around airport, NHs etc. may go for a period of five years in order to make balance of economy.
There has long been shortage of government residents in Delhi. But this no longer will be the situation as the Union Cabinet has approved the proposal of developing 7 colonies in Delhi which would lead to the increase in existing units by two times. The cost of developing these 12,970 units to 25,667 is Rs 32,835 crores.
Out of seven, Sarojini Nagar, Nauroji Nagar and Netaji Nagar will be developed through National Buildings Construction Corporation Limited (NBCC) and units in Kasturba Nagar, Thyagraj Nagar, Sinivaspuri and Mohammadpur through CPWD.
According to Delhi Transport Minister Satyendar Jain, approval of the Phase-IV project is going to be the beginning of the mass rapid transit system making inroads into rural Delhi.
“The approval is aimed to provide better connectivity to thousands of residents living in Outer Delhi areas like Narela and Bawana,” the Minister said.
Mr. Jain added that looking beyond Phase-IV, the Delhi Metro Rail Corporation (DMRC) will spread its web even wider in rural Delhi.
Phase-V project, which is slated to begin from 2022, has been planned with special emphasis to connect rural areas of the Capital.
Keeping connectivity to such areas in mind, the Delhi government had insisted that the Delhi Metro Rail Corporation plan an additional corridor from Dwarka to Khanjhawala.
Dwarka to Khanjhawala
The request was raised by several MLAs. However, the government finally gave an in-principle approval to the original detailed project report (DPR), which had six routes planned.
“The additional corridor suggested by the Delhi government has not been incorporated in the final DPR. It was mutually agreed that the line would be completely non-profitable as there is not much scope of property development in the route,” a metro official explained.
Centre nod Needed
With completion of Phase-III slated for December this year, the DMRC was running against time for getting its Phase-IV plan approved so that work could begin.
After the Delhi government’s approval, it is now looking ahead to get the project cleared from the Ministry of Urban Development.
Metro’s Phase-V is slated to begin from 2022 and will make inroads into rural areas of the Capital.