NDMC to redevelop 5 properties

In an attempt to strengthen its financial position, the North Delhi Municipal Corporation will redevelop five of its properties totalling 25 hectare in the city.

With a target to generate Rs 5,000 to Rs 10,000 crore, the civic body will develop these five plots at prime locations in the city for residential and commercial purposes, which will be available to the general public.

A senior official said that the two-storied staff quarters in Azadpur spread across nine hectare with 520 flats, and the four-storied staff-quarter in Model Town spread across nine hectare with 512 flats would be demolished to make way for new residential properties.

“High-rise residential complexes will be built on these two plots which will help NDMC earn a few thousand crores,” he added.

The employees will be given different accommodations though some of the new flats will be retained by NDMC as quarters.

The corporation has also decided to build a skyscraper at Minto Road by demolishing the existing 22-floor staff quarters. “The new building will be similar to the corporation’s headquarters — Shyama Prasad Mukherjee Civic Centre. It will have at least a two-level underground parking and well ventilated rooms. Ten per cent of the area will be developed as a commercial complex. The proposed building will also help the corporation to earn several thousand crores,” said a senior official.

The civic body also has plans to redevelop its staff colony at Bungalow Road, Kamla Market and its land at Idgah. The entire redevelopment is expected cost around '300 crore.

“By investing a few hundred crore, the Corporation is likely to earn around '10,000 crore by selling residential and commercial units at prime locations,” he added.