Start­ing out in Delhi


HT Estates - - HTESTATES -

Under the pol­icy, 50% of FAR will have to be used as per lan­duse cat­e­gory des­ig­nated in the so­cial plan The TOD pol­icy seeks to en­hance safety for women and chil­dren us­ing pub­lic trans­port or walk­ing at night through changes in key de­vel­op­ment code as­pects such as re­vised set­back norms, dis­pens­ing with bound­ary walls and hav­ing built-to-edge build­ings with ac­tive frontages that pro­vide ‘eyes on the streets.’ Cur­rently, many projects in the city face the metro but en­try and exit to the sta­tion is at least 1 to 1.5 km away. This means that the tran­sit in­fra­struc­ture has not been op­ti­mally lever­aged. Plan­ning norms around the world ad­vo­cate that metro sys­tems should be lo­cated as close as pos­si­ble to com­mer­cial and res­i­den­tial projects, but of­ten lo­cal bylaws do not per­mit it Under the tran­sit ori­ented de­vel­op­ment pol­icy, it is manda­tory to use a min­i­mum of 30% FAR for res­i­den­tial use A min­i­mum of 10% of

FAR is to be utilised for com­mer­cial de­vel­op­ments A min­i­mum of 10% is to be used for com­mu­nity ser­vices hous­ing stock will get gen­er­ated through TOD. Master Plan Delhi 2021 has spelt out a hous­ing short­age of around 25 lakh res­i­den­tial units. Around six lakh units can be con­structed under this pol­icy

Tof land to be re­served for af­ford­able hous­ing under the TOD pol­icy. The manda­tory res­i­den­tial com­po­nent cov­er­ing 30% of FAR shall wholly com­prise units of 65 sq m area or less he pro­ject in Karkar­dooma in­volves de­vel­op­ment of 75 acres of land in east Delhi. “It will fol­low the TOD norms and we will get FAR of 400. It is strate­gi­cally lo­cated be­tween two metro lines and will con­sist of res­i­den­tial units, ser­vice apart­ments, homes for se­nior cit­i­zens, a ho­tel and space for com­mer­cial of­fices. The East Delhi Hub pro­ject will be based on the TOD norms and smart city prin­ci­ples. The to­tal cost of the pro­ject is ₹ 4,500 crore,” says AK Mit­tal, chair­man and managing director, Na­tional Build­ings Con­struc­tion Cor­po­ra­tion (NBCC).

The pro­ject will be a green com­plex. It will fol­low the zero dis­charge prin­ci­ple. All sewage gen­er­ated within the pro­ject will be treated/re­cy­cled in-house. So­lar pan­els in­stalled on terraces will be used to gen­er­ate so­lar en­ergy. There will be no sur­face park­ing. “We will en­sure that there is min­i­mum ve­hic­u­lar move­ment,” he says.

The high­light of the pro­ject is a sig­na­ture tower of 100 storeys and other tow­ers of 10 to 30 storeys. We will try and en­gage the best ar­chi­tects, even from over­seas, through an open com- of Delhi’s area to come under the TOD pol­icy. It will not be ap­pli­ca­ble to the Lu­tyens Bun­ga­low Zone, Civil Lines Bun­ga­lows area, mon­u­ment reg­u­lated zone and the zone O around the Ya­muna pe­ti­tion,” says Mit­tal.

The pro­ject will in­clude 4,800 houses, 80,000 sq m of re­tail space, a five- acre park, apart from a sculp­tures and laser park and a cir­cu­lar sky­walk. As far as hous­ing is con­cerned, the EWS hous­ing will be largely sub­sidised. Other units in the semi lux­ury, mid­dle class and lux­ury hous­ing, ser­viced apart­ments etc will be sold to the pub­lic like any private de­vel­op­ment. “We will think of giv­ing con­ces­sions to se­nior cit­i­zens once the plan is frozen. NBCC will main­tain the com­plex for 30 years,” says Mit­tal.

The amount earned from sell­ing prop­er­ties will be de­posited in an es­crow ac­count main­tained by a high-level com­mit­tee with rep­re­sen­ta­tives from both the DDA and NBCC. NBCC will be paid charges for pro­ject man­age­ment, a cer­tain fee on con­struc­tion cost, and a fee for managing sales and marketing. The sur­plus amount will be the prop­erty of DDA. “In the pri­mary dis­cus­sions that we’ve had so far, there are plans to sell com­mer­cial prop­er­ties but no fi­nal de­ci­sion has yet been taken,” Mit­tal says when asked if the REITs op­tion will be ex­er­cised.


Newspapers in English

Newspapers from India

© PressReader. All rights reserved.