industry

NCRTC to develop stations on Delhi-Meerut corridor as retail hubs, says MD


The National Capital Region (NCRTC), which is executing India’s first Regional Rapid Transit System (RRTS) project between Delhi and Meerut, will develop stations as retail hubs, taking advantage of the Transit Oriented Development (TOD) policy of the Delhi and Uttar Pradesh governments, Vinay Kumar Singh, the company’s managing director, told ET.

The corporation has separate development plans for different stations as it aims to generate non-fare revenue from the Rs 30,000 crore project, which has funding from the Asian Development Bank (ADB), New Development Bank (NDB) and Asian Infrastructure Investment Bank (AIIB).

“The high-speed rail will be mostly used by office-goers during weekdays. We have to make sure that traffic comes on the weekends too, for which we have planned retail spaces across the line,” Singh said.

The corporation has planned healthcare facilities, banquets, entertainment parts and food plazas at different stations.

NCRTC has already appointed a consultant for the preparation of an Influence Zone Plan (IZP) at Jangpura and invited partners to provide consultancy services for the preparation of an IZP for Anand Vihar Multimodal Transit Hub.

This will help the corporation in exploring the real estate potential of the areas in and around the stations.

“A project of this size always impacts the real estate of the nearby region in a positive manner. Both UP and Delhi governments are supporting us in exploring non-fare revenue so that we don’t have to keep the fare high for daily commuters,” Singh said.

Under the framework of the National Metro Rail Policy 2017, NCRTC is mandated to explore conventional and innovative sources of non-fare box revenue to enhance financial sustainability.

Under this framework, Transit-Oriented Development (TOD) is being implemented by NCRTC to facilitate sustainable urban development along the RRTS corridors.

“One station of the line will have all the health-related facilities, including hospitals, diagnostic centres and medicine shops. People from western UP can use the healthcare facility, and our trains can be used as ambulances. Similarly, one station will lease space for banquets, and people can rent the train to reach the wedding venue,” Singh added.

On a similar note, the NCRTC has planned entertainment and food zones and a shopping complex at stations.

In Delhi three RRTS stations – Jangpura , Sarai Kale Khan and Anand Vihar – can be monetised as per TOD policy while in UP, the corporation can take benefit of the policy at every station.

The Delhi-Ghaziabad-Meerut RRTS corridor is 82.15 km, of which about 14 km is in Delhi and 68 km is in UP.

A priority section of 17 km between Sahibabad and Duhai is expected to be operational by 2023, while the full corridor will be ready by 2025.

“RRTS corridor will not only facilitate high-speed, safe and comfortable travel but also open up new investment opportunities in and around the area of the RRTS corridor, which will benefit local residents. This will lead to densification around the transit stations and corridors and finally turn into developments of new areas, increasing the value and transaction of properties,” said Singh.

With a design speed of 180 kmph and an average speed of 100 kmph, RRTS is aimed at bringing people and places closer in the National Capital Region (NCR). It will reduce travel time to less than 60 minutes, which normally takes 3–4 hours.

People living in Western Uttar Pradesh will get its benefits and approximately 8 lakh commuters will be able to travel daily.

RRTS will also enable the development of new economic and industrial hubs along regional nodes in Ghaziabad, Muradnagar, Modi Nagar, and Meerut.

Keeping commuter convenience in mind, RRTS trains will have premium and standard coaches. One coach in every train will be reserved for female passengers.

The NCRTC has identified land parcels at station locations and other operational areas such as depots, stabling yards, additional concourses under elevated stations and over underground stations, air spaces above stations, and rail-crossovers for possible commercial development.

The NCRTC has undertaken detailed Real Estate Feasibility Studies along the Delhi-Meerut corridor to develop a corridor level strategy which defines different development models, including Public-Private Partnership.



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