PM Modi To Launch Delhi Metro, Housing Projects Worth ₹33,500 Crore

(MENAFN- AsiaNet News)

Prime Minister Narendra Modi will inaugurate and lay the foundation stone of multiple development projects worth around ₹33,500 crore on March 8 at around 12 noon in Delhi. He will also address the gathering on the occasion. Before the programme, the Prime Minister will visit GPRA Type-5 quarters in Sarojini Nagar and hand over the keys to female allottees.

Delhi Metro Expansion

He will also inaugurate and lay the foundation stone of the Delhi metro projects worth about ₹18,300 crore. The PM will inaugurate two new corridors of the Delhi Metro. These include the Majlis Park-Maujpur Babarpur (Pink Line) corridor of around 12.3 km and the Deepali Chowk-Majlis Park (Magenta Line) corridor of around 9.9 km.

The new connectivity will benefit several areas of Delhi, including Burari, Jagatpur-Wazirabad, Khajuri Khas, Bhajanpura, Yamuna Vihar, Madhuban Chowk, Haiderpur Badli Mor, Bhalaswa, and Majlis Park, among others.

Foundation for Phase V-A Corridors

PM will also lay the foundation stone for three new corridors under Phase V-A of the Delhi Metro, covering a route length of around 16.10 km. The three new corridors are R.K. Ashram Marg to Indraprastha, Aerocity to Indira Gandhi Airport Terminal-1, and Tughlakabad to Kalindi Kunj. These corridors will provide direct connectivity to several important locations in the national capital and improve connectivity for residents travelling between Noida, South Delhi and the airport.

GPRA Redevelopment Plan

PM Modi will also inaugurate and lay the foundation stone of multiple projects worth ₹15,200 crore under the General Pool Residential Accommodation (GPRA) Redevelopment Plan. Spread across key locations such as Sarojini Nagar, Netaji Nagar, Kasturba Nagar and Sriniwaspuri, these projects are part of the Government’s ambitious programme to modernise GPRA colonies and create world-class infrastructure for Government employees and administrative offices.

Self-Sustainable Financial Model

The projects have been redeveloped through an innovative self-sustainable financial model that ensures the redevelopment is carried out without burdening the public exchequer. Under this model, the government is developing and monetising a limited portion of the project area for commercial and residential space to finance the entire project.

The revenue generated from it is being used to fund the redevelopment of modern government housing, supporting infrastructure and public facilities. The redevelopment plan will provide more than 9,350 modern flats for government employees, along with the creation of approximately 48 lakh square feet of office space, which will significantly enhance administrative efficiency while also generating monetisation potential.

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

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