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DTC-DMRC in JV to build realty space and bus terminals

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DTC-DMRC in JV to build realty space and bus terminals

In the first phase of this project, land parcels and bus terminals will be developed in the national capital in places like Nehru Place, Najafgarh, Azadpur, Mehrauli, and Narela, according to a Memorandum of Understanding (MoU) signed by Delhi Transport Corporation (DTC) and Delhi Metro Rail Corporation (DMRC). According to current urban development ordinances, instructions, rules, and the Delhi Master Plan, the agreement gives flexibility to choose one of the appropriate models, including Public Private Partnership (PPP), Property Business (PB), and Deposit Work foundation (MPD-2021).

In the presence of Delhi’s Transport Minister Kailash Gahlot, the agreement was signed by Director, DMRC (Projects), DK Saini, and Chief General Manager (Operations), DTC, VK Gupta. According to the MoU, DMRC will carry out these projects from conceptualization to commissioning and will provide all services, including pre-constructional activities like developing preliminary plans and preparing preliminary estimates as well as construction activities like approving designs or drawing layout plans, soliciting bids, and carrying out the work.

The scope of work also covers post-constructional tasks like securing completion certifications from regional organisations and facilitating project handover after completion.

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