With the Lt-Governor’s approval of the Transit Oriented Development (TOD) policy of the Delhi Development Authority (DDA), the department is all set to finalise its first project based on the policy. Next week, the department is slated to sign a Memorandum of Understanding (MoU) with the National Buildings Construction Corporation (NBCC) for constructing the “East Delhi Hub” at Karkardooma.
Officials said the project, which will be spread over 60 acres, is proposed to come up as a “signature destination” with 4,800 new homes catering to young professionals and corporates. It will incorporate world class plazas, public spaces, commercial areas, office spaces, residential areas and restaurants.
“As soon as the TOD policy was approved at the authority meeting, we decided to fast-track the project which will be first-of-its-kind. We will be signing an MoU with NBCC next week,” a senior DDA official said.
The TOD policy aims to promote access to amenities within walking distance, thereby decongesting city roads and ensuring a cleaner environment. Officials said the policy seeks to benefit those living around Delhi Metro corridors by integrating their lands under the policy of mixed land use.
According to officials, a TOD zone — which extends 500 mts on either side of an identified Delhi Metro corridor — allows landowners in the area to avail 400 FAR (floor area ratio) on redeveloping their land. With a minimum plot size of one hectare, a land-owner can come forward and submit his redevelopment plan provided it meets certain criteria — 30 per cent for residential use, 10 per cent for commercial use and 10 per cent for facilities which may include recreational facilities or necessary facilities like hospitals and schools.
Officials said the hub will come up around an area comprising two Metro stations, a regional railway station, Anand Vihar railway station, Anand Vihar ISBT, DTC bus terminal, and residential colonies such as Anand Vihar. It will have a five-acre community park in addition to several two-three acre neighbourhood parks and will also boast of an 80-storey “iconic tower” — the tallest in East Delhi.
Sources said the project was proposed in November last year and talks had begun with the NBCC soon after. One of the options discussed for the financial model include the DDA paying 10 per cent of the project cost along with providing land to the NBCC. The other model would see the NBCC advertising the project and selling service apartments and commercial spaces to raise funds.
“East Delhi lacks civic pride because it is where re-settlement colonies were planned. The hub would comprise retail space of 80,000 square mts,” an official said.