Latest news with #GurugramMetroRailLtd
Hindustan Times
3 days ago
- Business
- 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
29-04-2025
- Business
- Hindustan Times
World Bank invites Hry officials for urban mobility event in Singapore
The World Bank has invited officials from Gurugram Metro Rail Ltd (GMRL) and four other Haryana government departments to participate in a knowledge-sharing event in Singapore from July 1 to July 4. The event aims to share best practices on urban mobility, metro enhancement, and technical planning, the bank said in a communiqué. As per a communication dated April 15, the World Bank has sought nominations for the event from GMRL (7), Gurugram Metropolitan Development Authority (2), Department of Town and Country Planning (1), Haryana Shahari Vikas Pradhikaran (2), and Haryana's transport department (1). It has also invited two officials each from the Department of Housing and Urban Affairs and the Department of Economic Affairs, Ministry of Finance. The bank said it could accommodate up to 18 delegates from Haryana and would bear all expenses. 'This event will feature technical sessions and site visits on integrated planning, urban redevelopment, metro and bus systems enhancement, and digitalisation. The goal is to learn from Singapore's successful public transport integration with urban development to improve connectivity and quality of life in Indian cities,' the World Bank's invitation stated. Delegates will interact with Singapore's Land Transport Authority (LTA), known for advanced planning facilities, the bank said in a statement. A senior GMRL official said the visit is 'under consideration of the Haryana government' and not yet approved. GMRL is seeking a ₹1,075.43 crore loan from the World Bank for the ₹5,452 crore Gurugram Metro extension project, launched in February 2024, which will stretch from HUDA City Centre to Cyber Hub via Old Gurugram, covering 28.5km with 27 elevated stations, according to officials.
