New Delhi– The Union cabinet on Tuesday approved redevelopment of seven General Pool Residential Accommodation colonies of the government employees in the national capital.
The colonies in Sarojini Nagar, Netaji Nagar and Nauroji Nagar will be redeveloped through the National Buildings Construction Corporation Limited (NBCC).
Those in Kasturba Nagar, Thyagraj Nagar, Srinivaspuri and Mohammadpur will be redeveloped by the Central Public Works Department, an official statement said here.
Thew new structures will replace the existing housing stock of 12,970 dwelling units of Type I to IV with Build-Up Area (BUA) of approximately 7.49 lakh sqare metres, 25,667 dwelling units of Type II to VI with BUA of approximately 29.18 lakh sqm with supporting social infrastructure, it added.
The project will also develop government office accommodation over nearly 2.42 lakh sqm at Netaji Nagar.
The estimated project cost is Rs 32,835 crore, including maintenance and operational costs for 30 years.
The project will be implemented on self-financing basis by the sale of commercial BUA in Nauroji Nagar and parts of Sarojini Nagar, adjoining the Ring Road.
The project will be completed in five years in a phased manner.