GMDA To Rope-In Realtors for Redevelopment of Southern Peripheral Road in Gurugram

The Gurgaon Metropolitan Development Authority will rope in developers for the redevelopment of Southern Peripheral Road (SPR) and carry out the project along the same lines of Golf Course Road, which has been previously developed with the help of DLF. The development authority has held a meeting with a few developers and urged them to share the project cost and help with the design.

The government authority invited suggestions from multiple developers and also held a meeting, which included renowned developers like M3M India, Ireo World, Tata Realty and Infrastructure and Adani Realty along with senior GMDA officials. Three weeks’ time has been given to these developers by the authority to revert with their suggestions on the detailed project report (DPR). The developers have been asked to share their ideas on design. According to GMDA, the suggestions will be considered depending on their relevance. Also, the developers have been urged to share the project cost.

According to GMDA officials, there may be suggestions for a U-turn or extension at some junctions for the benefit of people living in some high-rises. The suggestions according to them will be considered, but they are not bound to incorporate them. The developers confirmed that they have been approached by GMDA for suggestions on the design and redevelopment of Southern Peripheral Road. They will be providing their inputs within the stipulated time frame.

Developers have confirmed that GMDA has proposed to adjust the pending external development charges (EDC) against the project cost. According to a representative, some developers have to pay EDC dues, and GMDA has made a proposal to adjust that against the project cost. The same model was adopted for the development of Golf Course Road as well, where the government had adjusted DLF’s pending EDC charges against the project cost.

M3M has several projects on Golf Course Road Extension, which is part of SPR. These projects include M3M Golf Estate, M3M Merlin, M3M Urbana, M3M Tee Point and M3M Cosmopolitan. “The construction and widening of the stretch from four to six lanes will benefit residents in the area and even commuters,” said Pankaj Bansal, director, M3M Group in an interview to TOI. Developers such as M3M and Ireo have many projects along SPR.

The state government has already approved the project report of SPR redevelopment. The project will be ready within a year and a half from the day the work begins and would cost the government Rs 230 crore. The road will have two flyovers and three underpasses. The underpass at Vatika Chowk will be developed by NHAI and the rest of the project will be executed by GMDA.

 

Sources:
https://timesofindia.indiatimes.com/city/gurgaon/developers-to-pitch-in-for-spr-revamp/articleshow/71056748.cms