After Karkardooma, the Delhi Development Authority has announced two more transit-oriented development projects - one each in east Delhi and Dwarka. For the east Delhi project, which will come up around Sanjay Lake, the land-owning agency has roped in National Buildings Construction Corporation. It signed a memorandum of understanding with NBCC on Friday.
The TOD project in east Delhi, called Lake View Complex, has been planned around the under-construction Trilokpuri Metro station. Spread over an area of 10.26 hectares, it will have multi-storey housing and commercial towers. "There will be twin signature towers with at least 50-60 storeys. A unique feature of the project will be its visual integration with Sanjay Lake. The complex, overlooking Sanjay Park, will be developed as a lakefront promenade. It will have sports facilities, housing projects, restaurants, markets and hotels, all in one area," said Balvinder Kumar, DDA vice-chairperson.
DDA claims that the project will not only lead to increase in property prices, but will also instill a sense of safety and "social pride" among residents of Trilokpuri, Mayur Vihar Phase-II, Kalyanpuri and neighbouring areas. Though the two government agencies plan to start work on the project soon, the actual process will start after the Union government has notified the TOD norms.
It is likely to be completed in three years. NBCC will also revive the lake and redevelop the green areas around it. As per a rough estimate, NBCC officials say, the project will cost Rs 1,500-1,600 crore. "As per our plan, we will start with designing of the Lake View Complex and in the next 5-6 months, work is expected start on the ground. The project is likely to be completed in within three years," Mittal said. But before NBCC start planning the project, it has to conduct a market survey to assess the demand for commercial and housing. "In TOD, minimum 30% component is residential. It is after the market survey, we will finalise the percentage of residential and commercial components," said Kumar.
Meanwhile, the tourism department of Delhi government has already planned an adventure park around the lake. But DDA is unaware of tourism department's project. "The land around Sanjay Lake belongs to DDA. We don't have any information about the tourism department's project. But if then government wants to redevelop the area, we are fine with it," Kumar said.
The TOD in Dwarka is another ambitious project. It will come up along the four-kilometre Metro corridor. DDA plans to develop a Dwarka central hub which will have three componentsbusiness hub, entertainment hub and eco-recreational hub. "We plan to develop a financial hub. Priority will be given to banks, financial institutions and non-banking financial institutions.
It will be spread over an area of 28 hectares. In Dwarka, the project will come up at three different locations. The commercial and entertainment hub will be along the Metro tracks while the housing component will be at walking distance," said a DDA official.
Apart from the TOD, DDA has also planned an adventure cycling park in Sector 5 of Dwarka. It will have dedicated tracks for cycling, a cycle museum, cycling boutique, children's zone and cycle circuit. "
Work on the project will start within two months and will be completed in one-and-a-half-years," Kumar said.