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NCRTC plans commercial, residential hubs along Delhi-Meerut Namo Bharat corridor, invites bids
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....CRTC plans commercial, residential hubs along Delhi-Meerut Namo Bharat corridor, invites bids<BR>PTI News<BR>Dated:- 6-3-2025<BR>PTI<BR>New Delhi, Mar 6 (PTI) In a move to develop commercial, residential and service hubs along the Delhi-Meerut Namo Bharat corridor, the National Capital Region Transport Corporation plans to set up a project management unit for strategic planning. The NCRTC, which....
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.... is executing the project, has invited bids, aiming to monetise land parcels, generate non-fare revenue and develop commercial, residential, and service hubs along Namo Bharat stations, according to officials. The selected consultants will be responsible for market research, transaction advisory, project management support, strategic planning and knowledge transfer. "The identified land parcel....
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....s for development include sites in Ghaziabad, Duhai Depot, Bhaisali (Meerut), and Modipuram Depot, which will be converted into retail and commercial spaces," NCRTC said in a statement. The corporation said that these locations will accommodate malls, retail-dining-entertainment hubs, integrated parking facilities with office spaces, rental housing, studio apartments, hospitals, and theme parks.....
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.... The Ghaziabad plot spans about 2.4 hectares, while the plots in Duhai Depot, Bhaisali, and Modipuram cover about 31, 9.7, and 31 hectares, respectively, it added. In addition to these major sites, smaller land parcels covering about 16 hectares are available at Sarai Kale Khan, New Ashok Nagar, Anand Vihar, Guldhar, Duhai, Muradnagar, Modinagar South and North, Meerut South, Shatabdi Nagar, a....
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....nd Modipuram, it said. Currently, Namo Bharat train services operate along a 55-km stretch, connecting New Ashok Nagar to Meerut South via eleven stations. The entire 82-km corridor is expected to be completed this year. According to the NCRTC, Namo Bharat, India's first high-speed, high-frequency regional transit system, is revolutionising urban mobility in the NCR. Integrating this semi-high....
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....-speed corridor with Transit-Oriented Development (TOD) zones enhances connectivity, stimulates economic growth, and prevents unplanned urban sprawl. The Project Management Unit, which will be set up soon, will play a crucial role in ensuring the successful implementation of the property development plan, the statement said, adding that the selected consultant will be responsible for strategic p....
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....lanning, market research, transaction advisory, project management support and knowledge transfer. "Key responsibilities will include conducting real estate market studies, demand assessments, and financial modeling to optimize land utilization. The PMU will also prepare business plans and bid documents, facilitate the selection of developers, and oversee stakeholder coordination, contract execu....
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....tion, and project progress," it stated. "At the conclusion of the project, the consultant will provide documentation and handover reports to ensure seamless knowledge continuity. The last date of submission for this is March 20," it added. The development strategy will align with Transit-Oriented Development (TOD) principles and existing regulatory frameworks, the statement read. It stated t....
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....hat TOD promotes high-density, mixed-use development within walking distance of transit stations, reducing congestion in heavily populated areas and fostering growth in emerging urban centres. Delhi, Meerut, and Ghaziabad Development Authorities are working together to implement TOD and Value Capture Financing (VCF) strategies. The World Bank has recognised NCRTC’s TOD model as a global best p....
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....ractice in sustainable urban planning, it stated. As a capital-intensive project, Namo Bharat requires sustainable revenue beyond fare collection. NCRTC has been actively exploring non-fare revenue streams by adopting best practices from domestic and international models, it shared. It also highlighted that initiatives such as TOD, Land Value Capture (LVC), and Value Capture Financing (VCF) ar....
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....e being implemented to ensure the project’s long-term financial sustainability. PTI SHB BUN BUN NB NB<BR> News - Press release - PIB....