Decks have been cleared for setting up a new convention and exhibition center near the Indira Gandhi International (IGI) airport in Dwarka with the Delhi Development Authority agreeing to transfer 100 hectares for the project that is estimated to cost nearly Rs 40,000 crore.
Apart from the convention and exhibition centers, the facility, which has been in the pipeline for the past several years, will have 3,500 hotel rooms and an entertainment arena that can host a large music concert.It will also have an air freight complex nearby and Metro is proposed to be extended up to the complex.
The proposal has been held up due to DDA 's reluctance to transfer land directly to the department of industrial policy and promotion (DIPP), which will bid out the project to private players. A part of the construction will be funded by the Delhi Mumbai Industrial Corridor Development Corporation, while the rest will be on PPP basis. A final decision was taken at a meeting in the urban development ministry on Monday but the move will need to be backed by a Cabinet decision, said sources.
Citing government rules, DDA had expressed its unwillingness transfer the land at “government to government rates”. Officials had also argued that the benefits would accrue to the private sector but the objections were overruled by the Prime Minister’s Office.
Now the land will be transferred to the urban development ministry which in turn will transfer it to DIPP. The department has agreed to settle for a lower land area for the project. At present, DDA has about 140 hectares in Sector 25 and 26 in Dwarka.
The convention center will have 8.70 lakh square meters built up area. “The complex will have open space and green area,” said a government source.
The facility will also have an air freight complex nearby and Metro is proposed to be extended up to the complex.