Now, Delhi Metro to raise funds by building, selling residential flats

Zee Media Bureau

New Delhi: Delhi Metro Rail Corporation (DMRC) needs funds and it is going innovative in managing the moolah to fund its expansion plans across the National Capital Region.

As per Hindustan Times report, Unable to sell commercial space at metro stations across Delhi NCR, DMRC has now decided to enter the residential apartment market and build flats for sale to public. An internal analysis of DMRC has revealed that almost one lakh square metre space - good enough to construct 1000 shops - is lying unused at metro stations.

“We have identified two plots near the metro stations in Okhla in Janakpuri. In Okhla, we plan to construct 93 flats while 350 will be built in Janakpuri. These flats will be allotted on the basis of a draw of lots for which people can register once we open the process. The project will have 2BHK and 3BHK flats to be delivered within two years,” quoting a senior DMRC official, the report added.

These DMRC-built flats may cost anything between Rs 80 lakh and Rs 1 crore.

DMRC is not new into the development of residential spaces. The report added that earlier it constructed residential apartments at Dwarka, Yamuna Bank, Saket and Shastri Park for allotment only to its employees.

The Metrol rail body is also planning to build a commercial complex in the heart of the city near Jantar Mantar to rent out for office spaces.