3rd ring road: DDA to hand over 125 acres
NHAI To Monetise Land Parcels For 3,200cr
New Delhi: Delhi Development Authority (DDA) will hand over nearly 125 acres along the upcoming urban extension road-II to the National Highways Authority of India (NHAI) to tide over the fund requirement to complete the crucial road project.
NHAI will be allowed to monetise the land parcels to generate about Rs 3,200 crore, which it had sought from DDA to build the road.
UER-II is touted as Delhi’s third ring road and has been in the pipeline for almost a decade. The nearly 80km-long road will start from NH-1near Narela, cross NH-10 through Rohini and Dwarka, touch NH-8 near Rajokri and end on NH-2. The project was handed over to NHAI by DDA as it was felt that the highways authority was better equipped to handle work of such scale.
NHAI officials said once DDA gives details of the land parcels, they will carry out an assessment whether monetisation or commercial exploitation of the lands will be enough to generate the required fund for the project. DDA has followed similar model even for Delhi Metro when it gave land to DMRC for commercial exploitation to fund the projects.
“NHAI could have gone for tolling on the road, but they felt it would not work in the city. We feel it could have worked partly, but they needed Rs 5,000 crore for the project, for which they needed some input from some other source,” DDA vice chairman Tarun Kapoor said. He added that lieutenant governor Anil Baijal had suggested to NHAI that they can be provided some land instead, which they can monetise. “The land provided to them near the road will go up in value after completion of the stretch and they will be able to monetise the land then,” Kapoor added.
In the Delhi Master Plan-2021, two urban extension roads were proposed. The major problem UER-II project faced was land acquisition, particularly near Mundka, Najafgarh, Dichaon Kalan and Kanjhawla. The work was started by DDA. The second problem the authority faced was largescale encroachment on land through which the road has to pass. DDA has managed to remove most of these encroachments and it’s now keen that work should start quickly to avoid further encroachments.
Once completed, the project promises to ease congestion on many arterial roads of Delhi as people coming from north and northwest Delhi would have direct access to south Delhi and the Indira Gandhi International Airport.