The Delhi Transport Corporation’s aim to redevelop its residential colonies in Shadipur and Hari Nagar into high-rise gated housing societies have been pushed into uncertainty after the board decided to reassess the financial feasibility of both projects, senior officials aware of the development said.
Both redevelopment proposals had progressed to an advanced stage, with contractor selection underway. However, during a board meeting held last week, members decided that the projects required a fresh review before any tendering or construction timelines could be finalised. Officials said no clarity was available on when new tenders might be issued.
“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 said on the condition of anonymity as per Hindustan Times.
The two redevelopment projects were part of a broader initiative under a memorandum of understanding (MoU) signed in 2020 between the Delhi government and NBCC Limited. The MoU included four major infrastructure initiatives on DTC land — two multilevel bus depots at Hari Nagar and Vasant Vihar, and the redevelopment of the residential colonies in Hari Nagar and Shadipur.
Officials said that the primary objective behind redeveloping the two colonies was to create a sustainable revenue stream for the financially stressed department. A significant portion of the proposed flats and commercial spaces in both projects was designed to be sold in the open market, generating funds for DTC while also enabling post-completion maintenance for a fixed period.
According to the detailed project report (DPR), the Shadipur residential complex was planned across 6.898 acres of DTC land. It was designed to house five residential towers, including one high-rise block comprising ground plus 30 floors of 4BHK units with a terrace.Moreover, four additional 29-storey ground-plus towers were planned 2BHK and 3BHK flats. Besides the Delhi Master Plan 2021 regulations, a separate tower was earmarked for the area that serves the economically weaker sections (EWS).
Shadipur project was supposed to have 427 units for the general category and 228 units for the EWS. The project's budget was predicted to be around ₹446.28 crore, and the money was expected to flow in through the sale of the residential and commercial inventory.
The redevelopment at Hari Nagar was picturized with eight towers — five for 2BHK and 3BHK flats, two for EWS apartments, and a separate three-storey club building. The project site can be found adjacent to the existing DTC bus depots 2 and 3. The colony plan contained 545 general-category flats and 284 EWS units, including 103 2BHK apartments, 396 3BHK flats, and 46 3BHK units with an attached study.
The sanctioned plan had one tower with G+22 floors, four towers with stilt +26 floors, and two EWS towers with stilt + 22 floors and stilt + 7 floors, respectively. The planned development cost for the Hari Nagar project was ₹724.47 crore, and the revenue generation through the sale of property was estimated at ₹1,491 crore.
It has been announced by officials that the empowered committee’s examination of the matter will ascertain whether the DPRs require alterations, whether there is a rise in project costs, and if the revenue model is still feasible given the present market conditions.
Both redevelopment proposals are on hold, awaiting the review, which is expected to take an indefinite amount of time, and thus, there is no timeline for the tender or the execution of the plans.
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