September 22, 2023: The Uttar Pradesh urban development ministry has approved the Meerut Development Authority’s plan to develop a 750-acre township in Partapur, Rajasthan, according to a TOI report. The Delhi-Meerut Rapid Rail Transit System (RRTS) will enter Meerut from Partapur.
The report cited officials stating that the proposed township will boost infrastructure developments around the corridor. This will make the RRTS corridor commercially sustainable and facilitate transit-oriented development (TOD), which is a global standard in many countries.
The report further quoted vice chairman, MDA, Abhishek Pandey, who said the land acquisition cost would be about Rs 2,000 crore, of which the UP government will provide 50% as an interest-free long-term loan. He added that the state government has asked them to work on the project in two phases. It has already approved the first instalment of Rs 500 crore, which would be put in the cabinet meeting in Lucknow for the final disbursement.
The National Capital Regional Transport Corporation (NCRTC) is the nodal agency entrusted with the task of creating the RRTS infrastructure. According to the media report, chief public relations officer of NCRTC, Puneet Vats, said that the NCRTC will actively work with development authorities of Meerut and Ghaziabad to develop the identified influence zones along the Delhi-Ghaziabad-Meerut RRTS corridor, according to the newly approved TOD policy by the UP government.
The development under Mukhyamantri Shehri Vistar Yojana (MSVY) will conform to value capture financing (VCF) policies. VCF is a method used by governments and private entities to fund infrastructure and development projects by recouping a portion of the increased property value or economic benefits resulting from the project’s implementation to help finance the project.
What is Transit Oriented Development (TOD) in India?
Transit-oriented development (TOD) combines land usage and transport infrastructure to create sustainable urban growth centres that include communities with mixed land-usage policies, public amenities and transit facilities.
The rail-transit catchment areas are developed to maximise the amount of residential, business and leisure space within walking distance of public transport use.
Delhi-Meerut RRTS corridor
The Delhi-Ghaziabad-Meerut RRTS is an 82-km rapid transit corridor connecting Delhi with Meerut via Ghaziabad. It will comprise 25 stations and have depots at Duhai and Modipuram. The project is being developed at Rs 30,274 crore, with contributions from the Central government and Delhi government.
See also: Delhi-Meerut Metro: RRTS stations, route and latest updates
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Harini is a content management professional with over 12 years of experience. She has contributed articles for various domains, including real estate, finance, health and travel insurance and e-governance. She has in-depth experience in writing well-researched articles on property trends, infrastructure, taxation, real estate projects and related topics. A Bachelor of Science with Honours in Physics, Harini prefers reading motivational books and keeping abreast of the latest developments in the real estate sector.
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