The Delhi Metro Rail Corporation (DMRC) has asked Chandigarh, Punjab and Haryana to transfer around 200 acres to special purpose vehicle (SPV) named as Greater Chandigarh Transport Corporation (GCTC).
Of the total, Chandigarh will have to chip in with around 100 acres as majority of the proposed corridors fall in its jurisdiction. The land will be used to generate recurring income through property development such as commercial activities, advertisement in stations, renting of commercial outlets inside stations, quick service restaurants and increasing floor area ratio (FAR) along the metro corridors. There are a total of 30 stations proposed on both the corridors, North-South (12.49KM) and East-West (25.08KM).
The three stakeholders have also been given an option of either transferring the land or to contribute Rs 1,000 crore every year towards the SPV, excluding the initial equity of around Rs 100 crore of the SPV, which is to be shared equally by ministry of urban development (MoUD), Chandigarh, Haryana and Punjab.
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UT finance secretary Sarvjit Singh said they would discuss the issue with the UT administrator before proceeding further. “Any decision, if taken, will be in consultation with the administrator,” said the finance secretary.
Recently, MoUD had authorised the Chandigarh administration to get the SPV approved from UT administrator Kaptan Singh Solanki, who is also governor of Punjab and Haryana, and then proceed by forming the board of directors of the SPV.
Land limited: Administration
Officials said the administration was not in position to contribute around 100 acres
As per official records, there are around 2,900 acres of vacant land left in Chandigarh, of which only around 650 are in the possession of the administration.
Based on detailed studies, administration has prepared a proposed land use plan for the available vacant land in order to meet the future requirements of the city in terms of rehabilitation of slums, amenities, institutions, paramilitary forces, defence, warehousing and transportation.
The administration plans to use the available land for proposed rental housing in Industrial Area, phase-1, Solar park along Patiali Ki Rao Choe, two freight stations in Industrial Area, phase-1, warehousing in Sector 56-West , trauma centre in Sector 53, marriage palaces near Dadumajra, rehabilitation of slum dwellers in Maloya village and Transport Area in Daria. The administration also has a plan to develop a commercial belt along north of Vikas Marg.