The civic body has planned two commercial towers and 18 residential towers in this part of Delhi, which is always short of supply. While it has generated the initial funding to start construction, the project will be largely funded by the sale of residential and commercial units.
The total built-up has been distributed in such a way that 20% has been dedicated to commercial development, 10% earmarked to be developed as social infrastructure for the population, while the remaining 70% has been utilized for residential development.
North MCD had awarded the work in October 2018, but the project has been delayed due to Covid-19 disruptions. WAPCOS is awaiting final approval from MCD and will begin construction as quickly as possible.
Of the total three million sq ft, 5.5 lakh sq ft will be commercial where retail and office space will be built to promote the walk-to-work culture. The redevelopment will also offer 2,000 residential units—of 2BHK and 4BHK configuration—spread across 18 residential towers.
Construction will be completed in two phases and 50% of the project will be completed in phase 1 and the entire project will take 36 months from the date of starting the construction.
