Bidding for Boom: NCRTC's Property Development Bonanza.

The National Capital Region Transport Corporation (NCRTC) has invited bids for a Project Management Unit (PMU) to oversee property development along the Delhi-Ghaziabad-Meerut Namo Bharat corridor. This initiative aims to monetize land parcels, generate non-fare revenue, and create commercial, residential, and service hubs around Namo Bharat stations.

Key locations identified for development include Ghaziabad, Duhai Depot, Bhaisali (Meerut), and Modipuram Depot, along with smaller parcels in Sarai Kale Khan, New Ashok Nagar, Anand Vihar, and other areas. These sites will be transformed into retail spaces, malls, retail and entertainment (RDE) hubs, offices, rental housing, hospitals, and theme parks.

The selected consultant will be responsible for strategic planning, market research, transaction advisory, and project management. Their scope of work includes real estate market studies, financial modeling, business plan development, bid facilitation, developer selection, contract execution, and project monitoring. Upon project completion, they will provide documentation and handover reports.

The development strategy follows transit-oriented development (TOD) principles, promoting high-density, mixed-use growth within transit zones. TOD aims to reduce congestion, support urban expansion, and encourage balanced development. Authorities in Delhi, Meerut, and Ghaziabad will implement TOD and value capture financing (VCF) strategies to maximize the corridor’s economic potential.

News by Rahul Yelligetti.