Latest news with #ShalabhGoel
Time of India
13-06-2025
- Business
- Time of India
Namo Bharat corridor in Meerut to unlock real estate potential with transit-led Growth
Meerut leads India in implementing Transit Oriented Development (TOD) zones, integrating them into its 2031 Master Plan. This initiative combines urban development with transit projects, creating potential real estate prospects in the area. The Meerut Development Authority (MEDA) has allocated 3,273 hectares for TOD, with 2,442 hectares divided into seven TOD zones and two special development area (SDA) zones along the Namo Bharat and Meerut Metro routes. "While the majority of the land is privately held and we will earn revenue through FSI, we are also planning a 300-hectare township where we will auction land to private developers," Vijay Kumar Singh, town planner at MEDA told ET. "We are doing the zonal planning in consultation with NCRTC ." The National Capital Region Transport Corporation (NCRTC) is constructing India's inaugural Namo Bharat corridor connecting Delhi, Ghaziabad, and Meerut. This represents India's first Regional Rapid Transit System (RRTS) train service. "By harnessing the potential of transit-oriented development and value capture financing, NCRTC is enhancing the financial sustainability of the Namo Bharat project," said Shalabh Goel, managing director, NCRTC said according to the report. "This integrated approach is poised to redefine the future of transportation infrastructure, fostering vibrant, liveable communities and generating economic value that benefits both the region and its residents." The SDA zones comprise 458 hectares in Meerut South and 373 hectares in Modipuram, situated at opposite ends of the Meerut metro section. Uttar Pradesh established its TOD policy in 2022. International cities including Stockholm, Copenhagen, Hong Kong, Singapore, and Tokyo have effectively utilised TOD to support public transport and improve urban planning, resulting in enhanced economic productivity and living standards. The Delhi-Ghaziabad-Meerut Namo Bharat corridor spans 82 km, with 68 km in Ghaziabad and Meerut districts. The infrastructure will additionally support local metro services in Meerut. The 2017 National Metro Rail Policy emphasised viewing urban mass transit projects as transformation initiatives rather than mere transport projects. It required states to explore various revenue options for long-term financial viability. The housing and urban development ministry introduced value capture financing policy, enabling states and union territories to utilise their assets, including unused land, for infrastructure development. According to UP's TOD policy, areas within 500 metres of city mass transit systems and 1.5 kilometres alongside intercity transit systems like Namo Bharat constitute TOD zones. These zones permit taller, mixed-use developments including residential, commercial, and office spaces with public facilities. The base floor area ratio will increase from 2.5 to 4 in developed areas and 5 in undeveloped areas. Ghaziabad has identified its TOD zones and included them in its master plan, awaiting state government approval for implementation.
Time of India
31-05-2025
- Business
- Time of India
Meerut Transit Oriented Development: Meerut Pioneers Transit Oriented Development Zones in India, ET Infra
Advt By , ET Bureau Meerut has become the first city in India to integrate transit oriented development (TOD) zones into its 2031 Master Plan. This would incorporate urban development around a transit project, potentially unlocking new real estate opportunities in the region. Meerut Development Authority (MEDA) has earmarked about 3,273 hectares for the TOD, out of which 2,442 hectares have been delineated into seven TOD zones and two special development area (SDA) zones around the Namo Bharat and Meerut Metro corridors."While the majority of the land is privately held and we will earn revenue through FSI, we are also planning a 300-hectare township where we will auction land to private developers," said Vijay Kumar Singh, town planner at MEDA. "We are doing the zonal planning in consultation with NCRTC ."National Capital Region Transport Corporation (NCRTC) is implementing India's first Namo Bharat corridor between Delhi, Ghaziabad, and Meerut. Namo Bharat is India's first regional rapid transit system (RRTS) train service with the first being the Delhi-Ghaziabad-Meerut project."By harnessing potential of transit-oriented development and value capture financing, NCRTC is enhancing financial sustainability of Namo Bharat project," said Shalabh Goel, MD, NCRTC.
Time of India
31-05-2025
- Business
- Time of India
Transit oriented development in Meerut to unlock real estate on Namo Bharat corridor
Meerut has become the first city in India to integrate Transit Oriented Development (TOD) zones into its 2031 Master Plan. This would incorporate urban development around a transit project, potentially unlocking new real estate opportunities in the region. Meerut Development Authority (MEDA) has earmarked about 3,273 hectares for the TOD, out of which 2,442 hectares have been delineated into seven TOD zones and two special development area (SDA) zones around the Namo Bharat and Meerut Metro corridors. 'While the majority of the land is privately held and we will earn revenue through FSI, we are also planning a 300-hectare township where we will auction land to private developers,' said Vijay Kumar Singh, town planner at MEDA. 'We are doing the zonal planning in consultation with NCRTC.' National Capital Region Transport Corporation (NCRTC) is implementing India's first Namo Bharat corridor between Delhi, Ghaziabad, and Meerut. Namo Bharat is India's first Regional Rapid Transit System (RRTS) train service with the first being the Delhi-Ghaziabad-Meerut project. 'By harnessing the potential of transit-oriented development and value capture financing, NCRTC is enhancing the financial sustainability of the Namo Bharat project,' said Shalabh Goel, managing director, NCRTC. 'This integrated approach is poised to redefine the future of transportation infrastructure, fostering vibrant, liveable communities and generating economic value that benefits both the region and its residents.' The two SDA zones—458 hectares as Meerut South SDA Zone and 373 hectares as Modipuram SDA Zone—are located on two ends of the Meerut metro section of the corridor. The Uttar Pradesh government formulated its TOD policy in 2022. Globally, cities like Stockholm, Copenhagen, Hong Kong, Singapore, and Tokyo have successfully used TOD to fund public transportation and enhance urban planning. It has, in turn, improved economic productivity and quality of life for people in these cities. Out of the entire 82 km of the Delhi-Ghaziabad-Meerut Namo Bharat corridor, 68 km falls under Ghaziabad and Meerut districts. In addition, the Namo Bharat infrastructure will also host local metro services in Meerut. The National Metro Rail Policy 2017 said urban mass transit projects should not merely be seen as urban transport projects but more as urban transformation projects. It mandated states to explore conventional and innovative non-fare box revenue (NFBR) options for the long-term financial sustainability of the projects by formulating their own policies. The housing and urban development ministry took a major step forward by introducing a value capture financing policy, providing a framework for states and union territories to harness the potential of their assets – including underutilised land – to drive infrastructure development. As per UP's TOD policy, areas within 500 meters of city mass transit systems like metro lines, and 1.5 kilometres on each side of intercity transit systems like Namo Bharatr, are considered TOD zones, where building taller, mixed-use developments will be promoted. This includes residential, commercial, and office spaces, along with public amenities. Also, base floor area ratio (FAR)—currently at 2.5—will be increased in areas under the TOD Zone to 4 in developed areas and 5 in undeveloped areas. Ghaziabad has also identified TOD zones and incorporated them in its city master plan. It is currently awaiting final approval from the state government for implementation.
Time of India
30-05-2025
- Business
- Time of India
Transit Oriented Development in Meerut to unlock real estate on Namo Bharat corridor
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Meerut has become the first city in India to integrate Transit Oriented Development (TOD) zones into its 2031 Master Plan. This would incorporate urban development around a transit project, potentially unlocking new real estate opportunities in the Development Authority (MEDA) has earmarked about 3,273 hectares for the TOD, out of which 2,442 hectares have been delineated into seven TOD zones and two special development area (SDA) zones around the Namo Bharat and Meerut Metro corridors.'While the majority of the land is privately held and we will earn revenue through FSI, we are also planning a 300-hectare township where we will auction land to private developers,' said Vijay Kumar Singh, town planner at MEDA. 'We are doing the zonal planning in consultation with NCRTC.'National Capital Region Transport Corporation (NCRTC) is implementing India's first Namo Bharat corridor between Delhi, Ghaziabad, and Meerut. Namo Bharat is India's first Regional Rapid Transit System (RRTS) train service with the first being the Delhi-Ghaziabad-Meerut project.'By harnessing the potential of transit-oriented development and value capture financing, NCRTC is enhancing the financial sustainability of the Namo Bharat project,' said Shalabh Goel, managing director, NCRTC. 'This integrated approach is poised to redefine the future of transportation infrastructure, fostering vibrant, liveable communities and generating economic value that benefits both the region and its residents.'The two SDA zones—458 hectares as Meerut South SDA Zone and 373 hectares as Modipuram SDA Zone—are located on two ends of the Meerut metro section of the Uttar Pradesh government formulated its TOD policy in 2022. Globally, cities like Stockholm, Copenhagen, Hong Kong, Singapore, and Tokyo have successfully used TOD to fund public transportation and enhance urban planning. It has, in turn, improved economic productivity and quality of life for people in these of the entire 82 km of the Delhi-Ghaziabad-Meerut Namo Bharat corridor, 68 km falls under Ghaziabad and Meerut districts. In addition, the Namo Bharat infrastructure will also host local metro services in National Metro Rail Policy 2017 said urban mass transit projects should not merely be seen as urban transport projects but more as urban transformation projects. It mandated states to explore conventional and innovative non-fare box revenue (NFBR) options for the long-term financial sustainability of the projects by formulating their own housing and urban development ministry took a major step forward by introducing a value capture financing policy, providing a framework for states and union territories to harness the potential of their assets – including underutilised land – to drive infrastructure per UP's TOD policy, areas within 500 meters of city mass transit systems like metro lines, and 1.5 kilometres on each side of intercity transit systems like Namo Bharatr, are considered TOD zones, where building taller, mixed-use developments will be promoted. This includes residential, commercial, and office spaces, along with public amenities. Also, base floor area ratio (FAR)—currently at 2.5—will be increased in areas under the TOD Zone to 4 in developed areas and 5 in undeveloped has also identified TOD zones and incorporated them in its city master plan. It is currently awaiting final approval from the state government for implementation.
Hans India
06-05-2025
- Business
- Hans India
Haryana CM reviews progress of 8 Namo Bharat corridor projects in NCR
Chandigarh: Haryana Chief Minister Nayab Singh Saini, on Tuesday, reviewed the progress of eight Namo Bharat corridor projects in the National Capital Region (NCR) under which three corridors are currently under implementation in first phase, officials said. These are Delhi-Ghaziabad-Meerut (82 km), Delhi-Gurugram-Shahjahanpur-Neemrana-Behror (SNB) (105 km) and Delhi-Panipat-Karnal (136 km) routes. During the meeting, the Chief Minister emphasised the transformative potential of the Namo Bharat corridors (Regional Rapid Transit System) in easing traffic congestion, boosting regional connectivity, and enhancing economic development across urban and semi-urban areas of the state. He instructed officials to expedite approvals for the Delhi-SNB and Delhi-Karnal projects to ensure their timely completion. During the meeting, a detailed presentation was made by National Capital Region Transport Corporation (NCRTC) Managing Director Shalabh Goel on detailed project reports, highlighting the features of the two Namo Bharat corridors. The meeting was told that the Delhi-Ghaziabad-Meerut RRTS corridor has achieved significant milestones, with successful operations on a 55-km section and positive public response. Chief Minister Saini suggested the design of the Namo Bharat corridors should be future-ready and efficient integration with metro systems should be ensured for enhancing the utility of the system. The Chief Minister reviewed the alignment, stations and land requirements related to the Delhi-Gurugram-SNB and Delhi-Panipat-Karnal corridors. He instructed departments to provide necessary support to NCRTC to ensure early start of projects. He also reviewed the alignment of the proposed Gurugram-Faridabad-Noida Namo Bharat corridor and directed officials to provide necessary approval and support to NCRTC for preparation of the detailed project report. The Namo Bharat train ensures high speed connectivity, covering 90 km distance in about one hour. It will reduce the travel time between Ghaziabad and Gurugram from 100 minutes by road to just 37 minutes. It will also provide fast and direct access to the Delhi airport from Haryana. The Namo Bharat train has a maximum design speed of 180 km per hour with an inter-station distance of 5 to 10 km and train frequency of every 5 to 10 minutes. It will also have platform screen doors and automatic fare collection system.
