Gurugram: GMRL to seek land along metro corridor for commercial space
Jun 30, 2025 06:08 AM IST
The Gurugram Metro Rail Ltd (GMRL) has decided to seek parcels of land along the metro alignment for commercial development of property to ensure financial viability of the project. As per a GMRL official aware of the matter, the corporation has also decided to seek a share in the (transit oriented development) TOD benefits arising out of the metro project. As per the GMRL, the metro corporation has not been allocated any land for property development presently but it was crucial to develop commerical projects along the alignment to improve and ensure the financial viability of the project through multiple revenue streams. (Parveen Kumar/HT photo)
As per the GMRL, the metro corporation has not been allocated any land for property development presently but it was crucial to develop commerical projects along the alignment to improve and ensure the financial viability of the project through multiple revenue streams. 'It has been decided that GMRL will reach out to the Haryana government and request for allocation of suitable land parcels along the metro corridor for property development and commercial utilisation to support the long-term sustainability of the project. It has also been decided to seek a share in the transit-orented development (TOD) benefits, arising from increased land value and development potential along the metro corridor,' said the GMRL official.
Earlier in March this year, the metro corporation had held a detailed meeting with real estate developers and consultants to seek their views point regarding commercial development of properties and to understand how transit oriented developed had worked out for existing real estate projects in the city.
During the meeting, the metro authorities had sought inputs on how to maximise the alternative revenue sources of Gurugram metro theough property development opportunities at stations, station naming rights, advertising or land based fiscal tools such as land value capture. 'We also wanted to know from the developers regarding the TOD projects in Gurugram by the stakeholders and how they have enhanced project/ property value by catalysing the TOD Zone and enhanced revenue generation,' a senior GMRL official said.
GMRL is the special purpose vehicle of the Haryana government which is executing the Gurugram metro extension project form Millennium City Centre metro station to Cyber Hub. The ₹ 5,452 crore metro project will cover a total distance of 28.5 kilometres and have 27 elevated stations.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
11 hours ago
- Hindustan Times
Over 70,000 housing units stalled across MMR amid green clearance hurdle
MUMBAI: The construction of more than 70,000 housing units across 493 projects in the Mumbai Metropolitan Region (MMR) has come to a standstill following a directive from the National Green Tribunal (NGT), Bhopal, a statutory body in India that deals with cases related to environmental protection and other natural resources. The new requirement has caused widespread delays, impacting project timelines and placing enormous financial strain on both developers and homebuyers. According to industry estimates, a majority of the affected projects fall within the affordable and mid-income housing segments (Aalok Soni/HT PHOTO) The tribunal's order mandates that all real estate projects falling within a 5 km radius of eco-sensitive zones must now secure environmental clearance from the Central government instead of state-level authorities — a significant departure from earlier norms. Until this directive, the State Environment Impact Assessment Authority (SEIAA) had the jurisdiction to evaluate and clear such proposals. The new requirement has caused widespread delays, impacting project timelines and placing enormous financial strain on both developers and homebuyers. According to industry estimates, a majority of the affected projects fall within the affordable and mid-income housing segments. In early June, real estate representatives sought relief by meeting municipal commissioner Bhushan Gagrani, urging him to allow these stalled projects to at least proceed up to the plinth level under the Ease of Doing Business initiative. However, the plea was turned down, as any such permission would be in direct violation of the NGT's August 2023 order, passed in response to a petition filed by Bhopal-based environmentalist Pranjal Karera. Karera's petition had sought that the Ministry of Environment, Forest and Climate Change (MoEF&CC) centrally appraise all construction projects within 5 km of protected zones — including those under the Wildlife Protection Act, 1972, critically and severely polluted areas identified by the Central Pollution Control Board, and eco-sensitive zones notified under Section 3(2) of the Environment Protection Act. The order's impact is being felt across large swathes of MMR — including areas surrounding Sanjay Gandhi National Park, Tungareshwar Wildlife Sanctuary, Karnala and Thane Bird Sanctuaries, Panvel Creek, and Phansad Wildlife Sanctuary. Developers argue that while environmental safeguards are necessary, delays in clearances are jeopardising the viability of ongoing projects. 'These clearances are a crucial part of the approval process. Timely intervention is essential to streamline procedures without compromising environmental norms,' said Zameer Khan, CEO of Unimax World. He added that several projects are also awaiting Coastal Zone Management Plan (CZMP) approvals, further compounding delays. Developers warn that the prolonged uncertainty could result in increased project costs, which may eventually be passed on to homebuyers. The situation is particularly severe in Navi Mumbai, where many housing projects on CIDCO-allotted government land are stuck. These projects cannot be registered with the Maharashtra Real Estate Regulatory Authority (MahaRERA) without the requisite clearances. 'The ripple effects are far-reaching — contractors, buyers, and even state government revenues are suffering. We're hoping for a viable solution soon,' said Hitendra Ghadia, director at Millennium Infra.
Hindustan Times
13 hours ago
- Hindustan Times
Gurugram: GMRL to seek land along metro corridor for commercial space
Jun 30, 2025 06:08 AM IST The Gurugram Metro Rail Ltd (GMRL) has decided to seek parcels of land along the metro alignment for commercial development of property to ensure financial viability of the project. As per a GMRL official aware of the matter, the corporation has also decided to seek a share in the (transit oriented development) TOD benefits arising out of the metro project. As per the GMRL, the metro corporation has not been allocated any land for property development presently but it was crucial to develop commerical projects along the alignment to improve and ensure the financial viability of the project through multiple revenue streams. (Parveen Kumar/HT photo) As per the GMRL, the metro corporation has not been allocated any land for property development presently but it was crucial to develop commerical projects along the alignment to improve and ensure the financial viability of the project through multiple revenue streams. 'It has been decided that GMRL will reach out to the Haryana government and request for allocation of suitable land parcels along the metro corridor for property development and commercial utilisation to support the long-term sustainability of the project. It has also been decided to seek a share in the transit-orented development (TOD) benefits, arising from increased land value and development potential along the metro corridor,' said the GMRL official. Earlier in March this year, the metro corporation had held a detailed meeting with real estate developers and consultants to seek their views point regarding commercial development of properties and to understand how transit oriented developed had worked out for existing real estate projects in the city. During the meeting, the metro authorities had sought inputs on how to maximise the alternative revenue sources of Gurugram metro theough property development opportunities at stations, station naming rights, advertising or land based fiscal tools such as land value capture. 'We also wanted to know from the developers regarding the TOD projects in Gurugram by the stakeholders and how they have enhanced project/ property value by catalysing the TOD Zone and enhanced revenue generation,' a senior GMRL official said. GMRL is the special purpose vehicle of the Haryana government which is executing the Gurugram metro extension project form Millennium City Centre metro station to Cyber Hub. The ₹ 5,452 crore metro project will cover a total distance of 28.5 kilometres and have 27 elevated stations.
Hindustan Times
a day ago
- Hindustan Times
New Book Warns: India's Economic Rank Is Rising, but Systemic Reform Is Critical
The MD of Enso Group, Vaibhav Maloo, recently tweeted about this, noting that India will surpass Garmany to be with USA and China in top three. New Book Warns: India's Economic Rank Is Rising, but Systemic Reform Is Critical India is poised to become the third-largest economy in the world after holding the 4th position, surpassing Japan, according to NITI Aayog. However, in a bout of professional enthusiasm, Vaibhav Maloo, MD of Indian conglomerate Enso Group, a columnist, author, and more, recently gave out a comment on X that the Indian economy will become the third largest after the USA and China. Vaibhav Maloo's tweet challenges the nation to evolve beyond economic numbers and prepare for global scrutiny. In a compelling comment, the entrepreneur and thought leader highlighted a decisive economic shift, 'At a growth rate of 6.2% in nominal GDP growth rate, India ($4.19 trillion) will cross Germany (-0.1% growth, and at $4.74t), in approximately 2 years. We will be the 3rd largest after USA and China.' This statement of his isn't just a statistic; it is like a wake-up call. India's rise to the third-largest economy in the world is not a distant dream. He believes it is an inevitable transformation powered by demographic strength, growing consumer markets and a resilient entrepreneurial ecosystem. As India inches closer to overtaking Germany, it also inches closer to the global spotlight for investment, business, tourism and cultural curiosity. Though this spotlight comes with opportunity, it also comes with scrutiny. Investors, tourists, and leaders from around the world will look to India not just for its GDP but also for its infrastructure, law enforcement, cleanliness, governance, and quality of life. He doesn't shy away from hard truths and points to archaic laws, poor infrastructure and the optics of filth, corruption and disorder that often dominate the narrative around India. These issues may not define the entirety of India, but they certainly influence international perception. He believes that cosmic reforms won't be enough, and systemic transformation is the need of the hour, required across multiple sectors, from law and urban planning to sanitation and digital governance. Vaibhav Maloo's comment ended with a simple but urgent question, 'What will we do?' and concluded with a response, 'We have to be 'futureready.'' By 'future-ready,' he means going beyond economic preparation. It means reimagining India's identity. His book 'An Indian Manifesto' has just hit the shops. Note to readers: This article is part of HT's paid consumer connect initiative and is independently created by the brand. HT assumes no editorial responsibility for the content, including its accuracy, completeness, or any errors or omissions. Readers are advised to verify all information independently. Want to get your story featured as above? click here!
