The Union Urban Development Ministry today signed a Memorandum of Understanding (MoU) with NBCC and CPWD for redevelopment of seven General Pool Residential Accommodation (GPRA) colonies here.
The National Buildings Construction Corporation (India) Ltd (NBCC) will redevelop Sarojini Nagar, Netaji Nagar, Nauroji Nagar, while the Central Public Works Department (CPWD) will redevelop Kasturba Nagar, Thyagraj Nagar, Srinivaspuri and Mohammadpur, a release by the ministry said.
The Union Cabinet had approved the project on July 5 this year.
The estimated cost of the project is over Rs 32,000 crore, which includes maintenance and operation expenditure for 30 years. The cost of works assigned to NBCC will be over Rs 24,000 crore and to CPWD over Rs 7,000 crore, the release said.
Underlining that the project is self-sustainable, Urban Development Secretary Rajiv Gauba said, earlier also, Motibagh and Kidwai Nagar (East) had been redeveloped on similar lines but this initiative is much bigger and significant.
Under this project, the existing housing stock of 12,970, would be replaced by over 25,000 dwelling units, with supporting social infrastructure facilities. The construction of the project will be completed in five years in a phased manner, the release said.
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