Most hous­ing units be­ing con­structed by pub­lic sec­tor agen­cies will be sold at mar­ket price and al­lot­ted through a draw of lots

HT Estates - - FRONT PAGE -

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

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