Centre to raise Rs 15k cr from sale of real estate and hotel assets
Real Estate

Centre to raise Rs 15k cr from sale of real estate and hotel assets

The Centre plans to monetise real estate assets worth an estimated Rs 15,000 crore through the National Monetisation Pipeline (NMP), which includes several housing colonies in the national capital and eight ITDC hotels.

The government has identified monetisation of seven colonies under redevelopment as well as the development of housing/commercial units on 240 acres of land in Ghitorni, the national capital, as urban real estate assets under the NMP.

ITDC's eight hotels will also be monetized in various ways.

Finance Minister Nirmala Sitharaman announced on Monday a Rs 6 lakh crore National Monetisation Pipeline to unlock value in infrastructure assets across sectors such as power, road, and rail.

The NMP identifies assets and asset classes that will be monetised over time under various infrastructure ministries.

The urban real estate assets have a monetisation potential of around Rs 15,000 crore during the financial years 2022-25, according to a document prepared by Niti Aayog.

The government has identified seven General Pool Residential Accommodation (GPRA) Colonies in Delhi for redevelopment under this category.

Sarojini Nagar, Naoroji Nagar, Netaji Nagar, Sriniwaspuri, Thyagraj Nagar, Mohammadpur, and Kasturba Nagar are the seven colonies. The redevelopment of these seven colonies is expected to cost Rs 32,276 crore in total.

The Centre has also identified a 240-acre plot of land in Ghitorni for the development of residential and commercial units (Delhi). This project will create 8,000 GPRA units and 3,000 GPRA units for migrant construction workers. A total investment of Rs 15,000 crore is expected.

Seven projects involving the redevelopment of colonies are planned for the NMP period.

Niti Aaayog has recommended that these projects be developed with private sector participation due to their prime location and appealing commercial potential.

According to the report, this will not only improve commercial and operational efficiencies but will also ensure upfront or periodic consideration to the authority or Ministry of Housing and Urban Affairs.

The Ministry of Tourism has administrative control over the India Tourism Development Corporation (ITDC).

Hotel Pondicherry in Pondicherry, Hotel Kalinga in Bhubaneswar, Hotel Ranchi in Ranchi, Hotel Nilachal in Puri, Hotel Anandpur Sahib in Rupnagar, Hotel Samrat in New Delhi, Hotel Ashok in New Delhi, and Hotel Jammu Ashok in Jammu are the eight hotels.

Image Source


Also read: Nirmala Sitharaman launches National Monetisation Pipeline

The Centre plans to monetise real estate assets worth an estimated Rs 15,000 crore through the National Monetisation Pipeline (NMP), which includes several housing colonies in the national capital and eight ITDC hotels. The government has identified monetisation of seven colonies under redevelopment as well as the development of housing/commercial units on 240 acres of land in Ghitorni, the national capital, as urban real estate assets under the NMP. ITDC's eight hotels will also be monetized in various ways. Finance Minister Nirmala Sitharaman announced on Monday a Rs 6 lakh crore National Monetisation Pipeline to unlock value in infrastructure assets across sectors such as power, road, and rail. The NMP identifies assets and asset classes that will be monetised over time under various infrastructure ministries. The urban real estate assets have a monetisation potential of around Rs 15,000 crore during the financial years 2022-25, according to a document prepared by Niti Aayog. The government has identified seven General Pool Residential Accommodation (GPRA) Colonies in Delhi for redevelopment under this category. Sarojini Nagar, Naoroji Nagar, Netaji Nagar, Sriniwaspuri, Thyagraj Nagar, Mohammadpur, and Kasturba Nagar are the seven colonies. The redevelopment of these seven colonies is expected to cost Rs 32,276 crore in total. The Centre has also identified a 240-acre plot of land in Ghitorni for the development of residential and commercial units (Delhi). This project will create 8,000 GPRA units and 3,000 GPRA units for migrant construction workers. A total investment of Rs 15,000 crore is expected. Seven projects involving the redevelopment of colonies are planned for the NMP period. Niti Aaayog has recommended that these projects be developed with private sector participation due to their prime location and appealing commercial potential. According to the report, this will not only improve commercial and operational efficiencies but will also ensure upfront or periodic consideration to the authority or Ministry of Housing and Urban Affairs. The Ministry of Tourism has administrative control over the India Tourism Development Corporation (ITDC). Hotel Pondicherry in Pondicherry, Hotel Kalinga in Bhubaneswar, Hotel Ranchi in Ranchi, Hotel Nilachal in Puri, Hotel Anandpur Sahib in Rupnagar, Hotel Samrat in New Delhi, Hotel Ashok in New Delhi, and Hotel Jammu Ashok in Jammu are the eight hotels. Image Source Also read: Nirmala Sitharaman launches National Monetisation Pipeline

Next Story
Infrastructure Transport

Anand Vihar and Punjabi Bagh Flyovers Ready

Work on two major road infrastructure projects, the Anand Vihar flyover and the Punjabi Bagh flyover, has been completed but are yet to be opened for public use, according to officials. Located in highly congested areas, work on these projects started around two years ago. "The work on the flyover is complete and it is ready for opening," said a PWD official on Wednesday. According to sources, both the flyovers are likely to be inaugurated closer to the assembly elections in Delhi, scheduled for early next year. During the time the work was under way, motorists faced heavy traffic congestion ..

Next Story
Infrastructure Transport

RDSO finalise oscillation trials on Indore Metro

Indore Metro Phase 1 advances with the completion of oscillation and brake performance trials on the Yellow Line through three coaches manufactured by Alstom conducted by Research Design and Standards Organisation (RDSO). The oscillation trials were conducted with an aim to evaluate the stability and performance of the three different coaches during the movement, ensuring that the commencement of operation on Indore metro meets the safety and performance standard. The Emergency Braking Distance (EBD) was also reviewed by the RDSO team to evaluate the efficient stopping of trains during the op..

Next Story
Infrastructure Urban

IIT Guwahati develops sustainable geopolymer

A research team at the Indian Institute of Technology Guwahati, led by Prof. Anil K. Mishra from the Department of Civil Engineering, has developed an innovative solution to two major global challenges: industrial waste management and sustainable construction. Their research focuses on creating a geopolymer using industrial byproducts and waste materials, such as water treatment sludge (WTS), fly ash (FA), and ground granulated blast furnace slag (GGBS). “With the rapid pace of urbanisation and industrialisation, managing industrial waste has become a critical global issue," said IIT Guwaha..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000