National Capital Region Transport Corporation (NCRTC), which is executing the Delhi-Meerut regional rapid transit system (RRTS) project, has identified 17.27 hectares of land in south Delhi’s Jungpura area to develop and lease serviced apartments.
The corporation plans to develop 149 one-bedroom units at the site and use the income generated from the serviced apartments to smoothen the operation of the RRTS trains, people in the know said.
NCRTC has invited quotations from companies for operating the proposed apartments.
“The proposed scope of work for the operator is to function as an operator of the serviced apartments as studio apartments,” said NCRTC’s tender document.
According to the plan, common amenities like gym, yoga room, dining and kitchen and lounge areas will be on the ground floor while the recreational spaces–like terrace garden and sitting lounge—will be on the higher levels.
“The services shall include operations and maintenance of the building, including sales and marketing of the inventory, maintenance of building infrastructure, housekeeping, etc. for the decided tenure,” says the tender document. “The operator will oversee the building, its services and its premises, including the landscape area and other common areas.”
Being a transit-oriented development (TOD) zone, Jungpura is being developed in a manner that will ensure optimal use of land for residential, commercial, business and leisure purposes with good connectivity.
As per the current master plan of the area, this includes residential towers and commercial complexes, among other planned connectivity measures.
“In Delhi, where there is a scarcity of land, TOD policy is helping the real estate sector. Along with RRTS, Delhi metro has also auctioned space for mall and office space,” said a property consultant.
State-owned NBCC is also developing office towers in south Delhi, while Rail Land Development Authority (RLDA) is opening up real estate around the railway stations.
Jungpura is considered a premium area in the national capital. The metro station here has direct connectivity to the Sarai Kale Khan station, from where commuters will have access to all three corridors of RRTS.
The idea of TOD policy is to provide access to all residential and commercial facilities within a walkable area so that people don’t commute long distances in private vehicles.
“A TOD approach in Delhi will help bridge the distance between jobs and mass transit, resulting in much-needed integration between land use and transport services,” said the consultant cited earlier. “This is a critical paradigm shift which can potentially improve public transit ridership, reduce vehicular congestion and reduce greenhouse emissions and pollution in the long run.”
Experts say that the upcoming network of rapid rail will revive the real estate markets of Ghaziabad, Meerut and other areas along the corridor, including Modinagar and Muradanagar.