Buy 2BHK, 3BHK flats from Delhi Metro, applications open in May

Delhi Metro Rail Corporation (DMRC) is building 550 flats for public in Janakpuri and Okhla. They are likely to be delivered by 2019.

The Delhi Metro Rail Corporation (DMRC) is set to launch its housing scheme in May this year.

DMRC will construct 460 flats near Janakpuri (west) metro station and 90 near Okhla station. (Sanjeev Verma/HT Photo)

DMRC is building 2BHK and 3BHK flats in the city’s Janakpuri and Okhla areas in Delhi that will cost between Rs 60 lakh and Rs 1.20 crore. Brochures will be released next month with an application form to book a flat, which DMRC promises to deliver by 2019.

“We have identified two plots near Okhla and Janakpuri (west) metro stations. We will construct 460 flats in Janakpuri and 90 in Okhla. The flats will be allotted on the basis of a draw and people can apply as soon as we open the scheme. The flats will be delivered within two years,” said a senior DMRC official.

He further said that 15% of the total flats will be reserved for the economically weaker section.

This is the first time that DMRC is constructing flats for public. Until now, it had constructed residential apartments only for its staff in Shastri Park, Yamuna Bank and Pushp Vihar. DMRC hopes to earn at least Rs 500 crore from the new housing scheme.

DMRC has also decided to come up with a commercial complex in the heart of the city near Jantar Mantar where they will rent out space for offices. DMRC official said that notification of Ministry of Urban Development on changes in Transit Oriented Development Policy (TOD) policy has also paved way for vertical growth along the Delhi Metro corridor, which will eventually help them to use more space for commercial purpose.

Under the TOD policy, a Floor Area Ratio (FAR) of 400 has been approved. This will enable high rises to come up in these areas and make for denser colonies. TOD colonies can come up in the ‘influence zone’ of the Metro which extends to 500 meters on both sides of the corridor.