As per the sources available to www.propertykhazana.com, Union Urban Development Ministry is on focus on the Property Developments to meet the fiscal needs for the Metro Rail Venture as it gets on a striving plan to stretch the MR network to the entire city with inhabitants of 2 Millions and above. The instant radar of the Ministry is on Ahmedabad, Lucknow, Indore, Bhopal, Chandigarh and Nagpur cities. Union Urban Development Minister Kamal Nath said that “in order to decrease on development budgetary support and also loans from polygonal organization, his ministry suggests raising the capital during property monetization”. According to the minister DMRC has decided to support to purpose the extra FAR for assets growth.
Presently, DMRC has been occupied in the growth of commercial offices and the retail properties in Delhi as a system to raise capital and the dwelling property growth is also on progress. The current Metro Rail Venture in Delhi and Bengaluru are executed on DMRC Model and some more ventures are likely to be implemented in Bengaluru, Kolkata and Chennai with DMRC model at the cost of Rs. 31,083 Crores. Along with 20.4 km Mumbai Metro Line-3 is of Rs.12, 015 Crores and 25.3 km Kochi Metro of Rs. 4,722 Crores is waiting for the final nod.
Revealed sources to www.propertykhazana.com discloses, below the confidential funding model 5km fast MR venture is being taken by the realty chief DLF at the cost of Rs. 1,088 Crores whereas, a total state funded of Rs. 1,250 Crores for MR 1st Stage venture in Jaipur which has been approved. Urban Development Ministry is giving the 1st preference for Private-Public Partnership Model of funding because in Delhi they have launched this model on Airport Line, even if PPP model in not feasible on all roads. Presently PPP mode Metro venture has taken up in Hyderabad for 71 km, Mumbai line 1 for 11.07 km and Mumbai line 2 for 31.87 km at the cost of Rs. 12,132 Crores, Rs. 2,365 Crores and for Rs. 7.660 Crores.
Meantime, as per the reports available from the realty sector to www.Propertykhazana.com in addition to the above mentioned Rs. 7,700 Crores in Jaipur for Stage 2, Bengaluru Airport venture of Rs. 6,000 Crores and Chennai Metro Line 1 of Rs. 2,845 Crores are also in the channel. It is also believed that the centre government has given its nod for the Delhi Metro Phase 4 venture and 103 km added to the Phase 3 for Rs. 35,242 Crores.
Source: NIMMA BENGALURU
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