PM Modi inaugurated GPRA project worth ₹15,200 crore, to launch Metro projects in Delhi

New Delhi [India], March 8 (ANI): Prime Minister Narendra Modi on Sunday inaugurated 2,722 newly built flats and laid the foundation stone for 6,632 additional flats and other multiple projects worth ₹15,200 crore under the General Pool Residential Accommodation (GPRA) redevelopment plan in Delhi, as part of a major housing and infrastructure push in the national capital.
The Government of India is redeveloping seven ageing government housing colonies in Delhi through an innovative self-financing model that requires no funding from the public exchequer.
The project covers Sarojini Nagar, Netaji Nagar, Nauroji Nagar, Kasturba Nagar, Thyagraj Nagar, Sriniwaspuri and Mohammadpur, spread across about 537 acres.
Many of the existing quarters in these colonies had become old and structurally unsafe, with nearly 40 per cent declared uninhabitable. The redevelopment project aims to address the shortage of more than 20,000 houses for central government employees by replacing the old low-rise buildings with modern high-rise residential complexes.
Once completed, the project will provide more than 21,000 new residential units along with upgraded infrastructure and public facilities.
According to officials, the redevelopment is being carried out under a self-financing model that does not require funds from the public exchequer. Around 69.41 acres -- about 12.9 per cent of the total project area -- will be monetised for commercial and residential use to finance the redevelopment.
The revenue from this limited land monetisation is expected to generate over ₹35,100 crore, which will cover the estimated redevelopment cost of around ₹32,800 crore.
This means the entire project will be completed without burdening the government budget, while also having the potential to generate a surplus of more than ₹2,300 crore for the government.
Prime Minister Modi, on March 8 at around 12 noon, will also inaugurate and lay the foundation stone of Delhi metro projects worth about ₹18,300 crore. He will inaugurate two new corridors of the Delhi Metro. These include the Majlis Park-Maujpur Babarpur (Pink Line) corridor of around 12.3 km and the Deepali Chowk-Majlis Park (Magenta Line) corridor of around 9.9 km.
The new connectivity will benefit several areas of Delhi, including Burari, Jagatpur-Wazirabad, Khajuri Khas, Bhajanpura, Yamuna Vihar, Madhuban Chowk, Haiderpur Badli Mor, Bhalaswa, and Majlis Park, among others.
He will also lay the foundation stone for three new corridors under Phase V-A of the Delhi Metro, covering a route length of around 16.10 km.
The three new corridors are R.K. Ashram Marg to Indraprastha, Aerocity to Indira Gandhi Airport Terminal-1, and Tughlakabad to Kalindi Kunj. These corridors will provide direct connectivity to several important locations in the national capital and improve connectivity for residents travelling between Noida, South Delhi and the airport.
Meanwhile, speaking to ANI on the occasion of International Women's Day, Delhi BJP President Virendra Sachdeva extended greetings and paid tribute to women for their contributions to society.
"On the occasion of International Women's Day today, I congratulate everyone. It is fortunate for Delhi that Prime Minister Modi will flag off two new metro projects, and, apart from this, he is also laying the foundation stone of five new schemes," Sachdeva said.
He also expressed hope for India's victory in the T20 cricket final against New Zealand later in the day. (ANI)