The Delhi Transport Corporation’s (DTC) plan to redevelop its residential colonies in Shadipur and Hari Nagar into high-rise gated housing societies has been plunged into uncertainty, as the board decided to re-examine the financial feasibility of the projects, officials aware of the matter said.
Both projects were at an advanced stage of the initial process, with contractors in the process of being finalised. The DTC board decided to review the projects in a meeting last week. Officials did not specify when tenders for the projects will now be issued or when construction might commence.
“The issue has been referred to an empowered committee that will decide on how to go about with the project. The project MoU was signed in 2020 and is already late. We need to now see if the initial plans work or changes should be made,” a DTC official, requesting anonymity, said.
The redevelopment projects were part of a broader initiative under a memorandum of understanding (MoU) signed between the Delhi government and NBCC Limited in 2020. Under this, four major infrastructure projects were announced for DTC land assets: two multilevel bus depots at Hari Nagar and Vasant Vihar, and the redevelopment of residential colonies in Hari Nagar and Shadipur.
Officials said the objective behind redeveloping the colonies was to create a fresh stream of revenue for the cash-strapped department. Most of the flats and commercial spaces in the proposed societies were designed to be sold in the open market.
According to the detailed project report (DPR) prepared earlier, the Shadipur residential complex was to be developed across 6.898 acres of DTC land, comprising five residential towers, including one high-rise block of 4BHK flats with ground plus 30 levels and a terrace. Four additional towers with ground plus 29 floors were supposed to host 2BHK and 3BHK units.
In line with the Delhi Master Plan 2021 requirements, an additional tower was designated exclusively for the economically weaker sections (EWS). Across the entire project, 427 general-category residential units and 228 EWS units were expected to be constructed in Shadipur at a cost of ₹446.28 crore. Officials said that a part of the revenue expected from the sale of flats and commercial spaces would have had to be retained to cover post-completion maintenance for a fixed period.
At Hari Nagar, eight towers were proposed, including five for 2BHK and 3BHK apartments, two for EWS, and an independent club building, rising up to three floors. The site is situated near the existing Hari Nagar bus depots (2 and 3).
According to the project design, the colony was planned to have 545 general-category flats and 284 EWS units, including 103 2BHK units, 396 3BHK flats and 46 3BHK flats with an attached study. The layout specified one tower with ground plus 22 floors, four towers with stilt plus 26 floors and two EWS towers with stilt plus 22 and stilt plus seven floors, respectively. The Hari Nagar redevelopment was projected to cost ₹724.47 crore and was estimated to generate ₹1,491 crore in revenue through property sales.