Real Estate in Delhi is getting 2010 Commonwealth ready

News Posted - 2010-02-14

2010 Commonwealth Games Construction Site in Delhi is a 118 acres of land near Yamuna, beside the famous Akshardham temple. Games Village is the Government plan to transform the capital into a global city. Like most of the real estate development happening in Delhi NCR as part of these plans, the Games Village too is being built by private builders — the MGF group in partnership with the Dubai-based Emaar Properties. The site will be ready by the end of next year, according per some reports with its own share of controversies.

ITDC had sought NDMC nod to set up greenfield hotels in the capital and refurbish an existing property - Hotel Janpath as part of its plans to meet the expected rush in tourist inflow during common wealth games 2010. These new hotels were expected to be up and running by 2008-end. It is also joining hands with private and international hospitality majors for a management contract to run some green field properties. ITDC is using many such properties.

Earlier, government has also accorded in- principle approval to the Delhi-Mumbai Industrial Corridor (DMIC) project to be developed through Public-Private- Partnership with world class infrastructure in the region including road transport connectivity. DMICDC has also entered into a memorandum of understanding with GIDB in July to facilitate development of some projects. The SPV has since then appointed an international consultant for preparation of development plan for the identified investment region in Gujarat.

The 1,500 km project with manufacturing and trading hubs along New Delhi and Mumbai involves an investment of around $100 billion. The industrial project would be developed along side of the Delhi-Mumbai dedicated rail freight route and is expected to be ready by 2013. It would cover six states Delhi and NCR, Uttar Pradesh, Haryana, Rajasthan, Gujarat and Maharashtra.

Source: Realestatetimes.in