DMRC set to launch 550 flats in Delhi; ₹60 lakh for 2 BHK, ₹1.2 crore for 3BHK

DMRC set to launch 550 flats in Delhi; ₹60 lakh for 2 BHK, ₹1.2 crore for 3BHK

Delhi Metro Rail Corporation (DMRC) will launch its 2BHK and 3BHK housing scheme in the capital in May this year. The DMRC is offering 550 flats in Janakpuri and Okhla of 2BHK and 3BHK category, according to a report in the Hindustan Times. A 2BHK house will cost anywhere around ₹60 lakh while a 3BHK flat will cost around ₹1.2 crore. It is expected DMRC will release brochures for the project in May along with application forms to book flats. DMRC has promised to deliver the flats by 2019.

“We have identified two plots near Okhla and Janakpuri (west) metro stations. We will construct 460 flats in Janakpuri and 90 in Okhla. The flats will be allotted on the basis of a draw and people can apply as soon as we open the scheme. The flats will be delivered within two years,” said a senior DMRC official as quoted by the daily. The report added that 15 per cent of the flats will be kept for the economically weaker sections.

For the first time, DMRC is constructing houses for the public. Till now, the DMRC housing societies only had residential apartments for its staff. These societies are located at Yamuna Bank, Pushp Vihar and Shastri Park. The DMRC expects a revenue to the tune of ₹500 crore from this housing scheme.

The flats will be allotted on a lottery basis. The booking amount will be refunded if an applicant’s name doesn’t appear in the final list of the draw. The body will come up with a commercial complex around Central Delhi soon near Jantar Mantar area. According to the report, officials said that the Urban Development Ministry’s notification on changes in Transit Orientation Development Policy (TOD) has laid the ground for more commercial use of space as vertical growth is allowed more along the metro corridors.

FAR (Floor Area Ratio) of 400 has been decided under the TOD plan. It will allow high rises in these areas paving way for denser colonies. The TOD policy dictates TOD colonies could come up in “influence zone” of DMRC. The zone goes till 500 metres to both sides of the Metro corridor.

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