5.12.12

Delhi - Jaipur Expressway snippets


Drawing upon the Delhi-Agra Expressway model, the government is set to allow development of seven new townships spread over 20,000 hectares along the proposed Delhi-Jaipur Expressway, resulting in a fresh real estate rush along the 265km road.
The Haryana government has already approved in-principle the plan for three new clusters in Manesar, Pataudi and Rewari, while Rajasthan is expected to allow building four new townships in Behror, Kotputli, Sahapura and Chomu.
The townships in Haryana would be spread over at least 6,000 hectares while those in Rajasthan are expected to occupy around 14,000 hectares.
In both states, the projects would get special access to the expressway. The projects are on the lines of the Yamuna Expressway, the road that connects Greater Noida and Agra. The proposed Rs 12,000-crore expressway is in addition to the existing highway connecting Delhi and Jaipur, where a new city is being built in Neemrana as part of the Delhi-Mumbai Industrial Corridor where another half-a-dozen new towns are slated to spring up. Real estate development along the proposed Delhi-Jaipur expressway is being offered as a sweetener to the road developer, who is also in line to get viability gap assistance to make the project financially viable.
A final call on viability gap funding is, however, yet to be taken although the Centre does provide up to 40% assistance to infrastructure projects undertaken under the public private partnership (PPP) mode.
But in these cases, the project developer does not get real estate rights.
In the case of Yamuna Expressway, Uttar Pradesh government had acquired land for building the road as also for real estate developments.
Jaypee, which is the concessionaire for the expressway, had then bought land tracts from the state government in phases.
In case of the Delhi-Jaipur Expressway, the government will only acquire land for the road project. But the company that bags the contract for the toll road project through competitive bidding will have to directly buy land for real estate development.The move is significant as the Yamuna Expressway model had come under criticism for the government role in land acquisition, especially for real estate development.

1 comment:

Unknown said...

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Real Estate developer in Delhi