INSUBCONTINENT EXCLUSIVE:
NEW DELHI: State-run NBCC (India) , formerly known as National Buildings Construction Corporation, is expected to generate Rs 32,000 crore
from 8 million square feet of commercial space in South Delhi’s Nauroji Nagar and Sarojini Nagar.
As the Delhi High Court vacated the stay
on construction of a commercial hub, NBCC has started the process of sale of commercial space and is expected to complete the work within
three years.
The government had announced redevelopment of seven housing colonies in Delhi, of which three — Nauroji Nagar, Netaji Nagar
and Sarojini Nagar — were assigned to NBCC
The total cost of the project is also around Rs 32,000 crore of which around Rs 12,000 crore is expected to come from sale of space at
Nauroji Nagar and another Rs 20,000 crore from Sarojini Nagar.
“We have already started preparing to resume the sale of commercial space
since money that will come from sale will fund the housing complex we are building for the government
Parallelly a team will work on the necessary approvals,” said a person aware of the matter.
Since there is a shortage of houses for
government employees, with the redevelopment of three colonies, government and expects to take the number of houses to 25,000 from the
In Nauroji Nagar, a commercial hub will be developed on 25 acres of land.
“We have prepared the revised master plan and details pertaining
Necessary approvals are in process
We are expecting the work to resume in the coming 3-4 months, once the approvals are in place and the work is targeted to be completed in a
span of three years,” said architect Gian P Mathur, the consultant for the project.
The integrated business hub at Nauroji Nagar will have
independent offices with direct connectivity from airport, railway and metro stations, retail outlets, food court, conference facilities,
business centres, art galleries and three-layered basement parking for 8,000 cars.
The initial deadline was 2022, and NBCC had already sold
some of the spaces but it dropped to half one-and-half years ago.
On Tuesday, the High Court disposed of the matter saying, “There is no
violation of the Delhi Preservation of Trees Act.” NBCC had earlier said that proposed redevelopment of seven colonies will give a green
facelift to Delhi with tree cover to grow up by about four times to nearly 55% with a focus on zero waste discharge, organised parking, no
load on ground water and effective metro connectivity.
The World Trade Centre with 60 lakh sq feet of built up area having 12 commercial
towers is part of the Nauroji Nagar redevelopment
NBCC has already sold nearly 3.4 lakh sqft office space in two of the towers for Rs 1,400 crore.
The Netaji Nagar redevelopment of 110 acres
will be for General Pool Residential Accommodation (GPRA) and General Pool Office Accommodation (GPOA) for the Central government
Equipped with Smart City sustainable features, the high rise project will have integrated green landscape with two-level basement parking
for 3,500 cars.
There will be shopping centres, efficient management of energy and water resources along with central air conditioning and
IT-enabled office environment
Sarojini Nagar colony will also be redeveloped vertically as a GPRA and will have commercial spaces for sale.
