Most housing units being constructed by public sector agencies will be sold at market price and allotted through a draw of lots
and constructed around 1,500 units in Gurgaon’s Sector 37 and Sector 89. Possession in the first project will be given in September this year and the company is awaiting the completion certificate for the second. It also plans to construct 166 units in Faridabad’s Sector 41 and three projects in Ghaziabad – one in Govindpuram with 152 units and two in Koyal Enclave, with about 200 units.
The public sector agency is currently constructing 6,252 units in Delhi NCR and 28,965 units are in various stages of planning. The NBCC model of housing is redevelopment as is the case with the government housing project being constructed in East Kidwai Nagar. Revenues generated by selling commercial space in the Netaji Nagar, Sarojini Nagar and Nauroji Nagar redevelopment project will be utilised for construction.
“We will sell the built- up properties. It means we will construct offices and residential units and part of the offices will be sold in the market to generate the money. The money collected from the sale will be used for the construction,” says Anoop Kumar Mittal, CMD, NBCC.
The agency is also developing a greenfield project for DDA in Karkardooma (75 acres) and in Sanjay Jheel, where it has been given the mandate to develop 25 acres. “For these projects, architects have been appointed and the engineering work is being finalised. Designs will be ready in another three months after which they will be sent to DDA for its approval and then submitted to the local bodies. I expect work to begin by the end of this financial year, says Mittal.
As many as 8 , 6 0 0 units are expected to come up in Karkardooma and around 3,000 in Sanjay Jheel.
While most urban planners and real estate experts have welcomed the initiatives being undertaken by public sector bodies, some are sceptical. They fear that these agencies lack the bandwith or the track record to generate housing supply of as much as 16 lakh units as envisaged by Master Plan of Delhi 2021.
A K Jain, former commissioner (planning) DDA, is confident that 4 to 5 million units can be created within Delhi on existing land banks. “We have to optimise the potential of existing brown field areas. The fact that multiple agencies are looking at residential development in the