MoU for East Delhi hub signed

The project will be spread over 75 acres and will incorporate commercial areas, offices and residential areas.

The Delhi Development Authority (DDA) on Friday signed a Memorandum of Understanding (MoU) with the National Buildings Construction Corporation (NBCC) for constructing the ‘East Delhi hub’ in Karkardooma — DDA’s pilot project based on the ‘Transit-oriented development’ model. Officials said the project is set to cost approximately Rs 5,000 crore and is expected to be completed by 2020.

Speaking to Newsline, NBCC Chairman and Managing Director, A K Mittal, said “The project is a first-of-its-kind, based on a green-field concept with ‘zero discharge’. Although we are undertaking a similar project in Kidwai Nagar, the East Delhi hub will be a completely new experience. Kidwai Nagar is only a re-development project.”

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The project will be spread over 75 acres and will incorporate commercial areas, offices and residential areas. It will be surrounded by two Metro stations, a regional railway station, Anand Vihar railway station, Anand Vihar ISBT and a DTC bus terminal.

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Sources said DDA will provide the land and bear the cost. However, 10 per cent of the cost will be given to NBCC as “project management fees”. NBCC will advertise the houses and once they are sold, the money will be credited to the DDA. Of this, one per cent will go to NBCC as “disposal charges”.

First published on: 28-02-2015 at 02:42 IST