The Union Urban Development Ministry signed a Memorandum of Understanding (MoU) with NBCC and CPWD for redevelopment of seven General Pool Residential Accommodation (GPRA) colonies. The National Buildings Construction Corporation (India) Ltd(NBCC) will redevelop Sarojini Nagar, Netaji Nagar, Nauroji Nagar, while the Central Public Works Department (CPWD) will redevelopKasturba 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.
Do you know?
Ministry of Urban Development (MoUD), Government of India, is the apex body for formulation and administration of the rules and regulations and laws relating to the housing and urban development in India.
The ministry is under the charge of Venkaiah Naidu he was elected as an MLA to the Andhra Pradesh Legislative Assembly Udayagiri constituency.
The Ministry was attached on and off with the Ministry of Housing and Urban Poverty Alleviation.