‘Land-starved’ DMRC lends out space for commercial ventures
13 Aug 2013 4:31 AM IST
Several acres of land acquired by Delhi Metro Rail Corporation (DMRC) free of cost for ‘public welfare’ to construct the Metro network in the capital city has been used to develop malls, shopping complexes and residential flats with the help of real estate developers.
According to sources, the concessionaires include MGF, Parsvnath, UNITY Buildwell, Pratibha Industries Ltd, Spirit Global and Aggarwal Plaza.
According to sources in Delhi Development Authority, the members of DDA had raised a demand seeking collection of revenue from DMRC especially for all its commercial activities going on at Metro stations in DDA’s Board Meeting.
The DMRC has been generating huge revenue through these ventures. Land was acquired mostly during first and second phase of Metro expansions. But now, the third phase expansion is facing trouble because of land shortage.
The majority of the commercial properties of DMRC are being handled by Parsvnath Developers. The residential plots at Subhash Nagar, Vishwavidyala, Rithala, Khyber Pass and Dwarka have been handed over to private real estate developers.
Documents of the revenue department in possession of Millennium Post state: ‘All SDMs and collector of stamps should ensure that whenever such instrument pertaining to transfer of Delhi Metro commercial sites falling within their sub-division /jurisdiction comes to them under Section 31 of the Indian Stamp Act and or under any other provision of the land rule, guidelines are followed.’
According to sources, the concessionaires include MGF, Parsvnath, UNITY Buildwell, Pratibha Industries Ltd, Spirit Global and Aggarwal Plaza.
According to sources in Delhi Development Authority, the members of DDA had raised a demand seeking collection of revenue from DMRC especially for all its commercial activities going on at Metro stations in DDA’s Board Meeting.
The DMRC has been generating huge revenue through these ventures. Land was acquired mostly during first and second phase of Metro expansions. But now, the third phase expansion is facing trouble because of land shortage.
The majority of the commercial properties of DMRC are being handled by Parsvnath Developers. The residential plots at Subhash Nagar, Vishwavidyala, Rithala, Khyber Pass and Dwarka have been handed over to private real estate developers.
Documents of the revenue department in possession of Millennium Post state: ‘All SDMs and collector of stamps should ensure that whenever such instrument pertaining to transfer of Delhi Metro commercial sites falling within their sub-division /jurisdiction comes to them under Section 31 of the Indian Stamp Act and or under any other provision of the land rule, guidelines are followed.’
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