The Chandigarh Smart City Limited (CSCL) has written to the UT Administration to hand them over 71 acres of land near the ISBT in Sector 43 to develop it under the smart city project. Developing Sector 43 alone will take the major chunk of the smart city funds, which is around Rs 4,932.5 crore.
Last month, the Smart City Limited had identified the piece of land which is to be developed. As part of the smart city project, the area will have convention centres, residential housing, including studio apartments, and various other projects.
Chief Executive Officer of the Chandigarh Smart City Limited, K K Yadav, told Chandigarh Newsline, “Once the UT Administration hands us over these 71 acres, we will begin our work. It is a barren land and entirely vacant. Even as per the master plan, Sector 43 is the sub-city centre but isn’t developed.”
The CEO added, “We have also asked the administration to allow us higher floor area ratios so that investors see the comparable building norms and are attracted to invest in this sector. Around Rs 5,000 crore will be spent and the project will entirely be on the public-private partnership.”
A senior officer of the UT Administration stated, “Yes, we have got the letter asking us to transfer the land. We are checking the status of the land from all angles. It has been vacant for very long.”
In Sector 43, an amount of Rs 1,255.88 crore has been allocated for office space (Grade A) while Rs 1,312.45 crore would be invested for hotels. An amount of Rs 120.02 crore has been allocated for an exhibition centre whereas Rs 326.92 crore would be invested in a convention centre.
For retail area, Rs 779.71 crore has been allocated, Rs 320.83 crore would be spent on residential affordable housing and Rs 293.9 crore for iconic area. For hostel facility, an investment of Rs 121.39 crores would be made while for integrated broadway and entertainment, Rs 285.74 crore woud be spent.
Basic infrastructure would form just Rs 40.61 crore while Rs 75.05 crore would be invested in an art gallery. Under ABD, four adjoining sectors, 17, 22, 35 and 43, have to be made smart on a pilot basis with a combination of IT and infrastructure projects. Investment of Rs 722 crore would be made on 24×7 water supply, power, transportation in all these four sectors, but urban development in Sector 43 will take the major share of Rs 4,932 crore.
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