MoU signed between DDA, RLDA

New Delhi: Delhi Development Authority (DDA) and Rail Land Development Authority (RLDA) signed a Memorandum of Understanding (MoU), where they have agreed for commercial development over the land, allotted by DDA, on the basis of revenue sharing between the two bodies. The MoU was signed by DDA Vice-Chairman Tarun Kapoor and RLDA Vice-Chairman Ved Parkash Dudeja accompanied by MD and CEO, Indian Railway Stations Development Corporation (IRSDC) for development/redevelopment of Stations at Anand Vihar and Bijwasan for commercial use for the purpose of generating revenue by nontariff measures on a revenue-sharing model between RLDA and DDA. "Railways shall be free to utilize DDA's land for any development including commercial and residential under the provisions of the Railway Act, 1989 without any need for a change of land use," said the memorandum.

Meanwhile, there will be no further payment to DDA by Railways for land use conversion charges, ground rent, etc. "At Anand Vihar area TOD would be applicable along with Karkardooma area so as to have integrated Transit-Oriented Development to maximize revenue realization," said DDA. The estimated cost for the development of Anand Vihar AND Bijwasan terminals would be capped at Rs. 313 crore and Rs. 761 crore.