The Times Of India, Jan 1 2015, Noida: The Noida and Greater Noida Authorities chairman and CEO Rama Raman said that all hurdles in the line of DMIC (Delhi-Mumbai Industrial Corridor) project, will be sorted out. The chairman has recently held a meeting to discuss the pending issues.
Raman has directed all senior officials to clear the hurdles, especially land acquisition and speed up the project. Raman hopes that latest amendment in Land Acquisition act will further help the authority to acquire land for the ambitious project.
Raman said the project will not only generate thousand of jobs but also work as oxygen for the real estate sector of North India. Under the project the Greater Noida Authority on behalf of Uttar Pradesh government will enter into an agreement with the centre for developing infrastructure for first ‘early bird project’ in integrated industrial townships in the state along the Delhi Mumbai Industrial Corridor. Both DMIC trust and Greater Noida Authority will sign a joint venture to executing the project in UP.
“The Cabinet Committee on Economic Affairs has approved the proposal to set up the joint venture company with equity contribution of 50 percent from each partner. The new entity will be responsible for development of trunk infrastructure of the integrated industrial township at Greater Noida in the Dadri-Noida-Ghaziabad Investment Region of the DMIC,” Raman said.
“Under the project early bird projects, there will be development of Boraki Railway Station as Passenger and Commercial Cargo Hub, Multi Modal Logistics Hub at Dadri, Power Project at Greater Noida, Mass Rapid Transit System (MRTS) between Dadri-Noida-Ghaziabad Investment Region and Delhi,” Raman added.
On elaborating the details, Raman further said, “The project cost of Rs 1714.70 crore is proposed to be met by equity contribution of Rs 617.20 crore by the DMIC Trust and the state government. The equity from the state government would be in the form of land which would be transferred to the joint venture company.”
The infrastructural industrial township is expected to attract private sector investments of over Rs 33,000 crore over a period of 30 years and generate significant employment. It is also intended to lead to multiplier effect in each of the target industry sectors, including backward and forward linkages with other sectors of the economy.
Raman said that DMIC will be a great opportunity for the real estate in this belt. P Sahel, Vice chairman, Lotus Greens said, “One of the important projects undertaken by the Government of India which will benefit Uttar Pradesh and NCR region at large is the Delhi Mumbai Industrial Corridor. The proposed corridor between Delhi and Mumbai will cover an overall length of 1483km passing through different region with end terminals at Dadri in the NCR and Jawaharlal Nehru Port near Mumbai. This is India’s most ambitious infrastructure development project which aims at developing new-age cities we know as ‘SMART Cities’ and converging next generation technologies across infrastructure sectors thereby providing major thrust to planned urbanization in India.”
On further adding the fact, Amit Gupta, Managing director, Orris Infrastructure said, “The proposed Delhi Mumbai Industrial Corridors (DMIC) that promises to open the floodgates of new investment opportunities is expected to be that catalytic factor which promises to offer investors a gold mine once the project is over. DMIC is covering political capital and the business capital of India, i.e. Delhi and Mumbai, is poised to redefine the urban centres in the six States that it passes through— U.P, NCR of Delhi, Haryana, Rajasthan, Gujarat and Maharashtra.There is no denying this high-speed connectivity between Delhi and Mumbai offers immense opportunities for development of an industrial corridor along the alignment of the connecting infrastructure.”
SS Bhasin, MD of Bhasin group said, the first phase of DMIC will pass through Delhi NCR region, so the region will get first mover advantage. Proximity with the National capital and central location of the region will again be an added advantage. In short run Delhi-NCR will continue to hold the numero uno position of property market. If things as proposed and projected are executed accordingly then with development of new cities and residential township there would be an urgent need for commercial and trading activity, as every segment is interdependent on each other. “Following which there would be intense requirement for quality commercial spaces for both offices and shopping complexes to support it holistically. Plans to develop integrated township and model cities to support them within the DMIC will further fuel the need for heavy commercial activity to support the residential as well as office requirements,” he said.