【New Delhi】The plan to redevelop government colonies in the heart of Delhi is set to get a private-sector push. The National Building Construction Company (NBCC) has proposed that funds for redevelopment be mobilised from the corporate sector by undertaking to allot, on a freehold basis, 20% of the total residential space to be created to companies who pay up in advance.
The public-sector NBCC plans to rebuild government colonies in Kasturba Nagar, Netaji Nagar and Thyagraj Nagar in Delhi. A part of the commercial space could also be leased out to the corporates. Till now, the private sector has not been allowed in the redevelopment scheme.
The cost of redeveloping these colonies, which includes building 8,000 flats in the heart of Delhi, is estimated to be around R10,000 crore. After corporates take 20%, the rest of the flats would go to the government's quota for its officers.
NBCC chairman and managing director AK Mittal said: "We have proposed to the ministry of urban development that the private sector should also be allowed to bid for flats and commercial space to meet fund requirements."
【News source】
Private sector can now buy into Delhi’s govt colony revamp
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