The Uttar Pradesh (UP) government has approved Transit Oriented Development (TOD) within two km of the Delhi-Meerut Regional Rapid Transit System (RRTS). Out of the 82 km-long corridor from Sarai Kale Khan in Delhi to Modipuram, about 70 km of it falls in Ghaziabad and Meerut in Uttar Pradesh. The initiative will allow developers to opt for a higher Floor Area Ratio (FAR), and encourage vertical development in the area. The rural pockets along RRTS are likely to benefit from such urbanisation as residential and commercial hubs may potentially grow and add to revenue generation in the city.
What is Transit Oriented Development?
Transit Oriented Development is an urban planning concept that aims to establish a walkable community to encourage the hassle-free movement of the residents. The Central government introduced TOD for the States in 2017 to create sustainable urban growth hubs near transport networks like the metro, rail and bus systems.
Upcoming infrastructural development: Delhi-Meerut RRTS
The intercity RRTS will connect the micro-markets of Delhi, Ghaziabad and Meerut. The project of approximately 82 km is expected to reduce the travel time from the current three hours to less than an hour. The project's first phase, which is 17 km long, connecting Sahibabad to Duhai is expected to be operational by March 2023. While the entire RRTS will be developed at an estimated cost of over Rs 30,000 crore, the UP government's portion is around Rs 6,500 crore. The project is being helmed by the Ghaziabad Development Authority (GDA) and the National Capital Region Transport Corporation (NCRTC).
Know your neighbourhood well
Impact of TOD policy on Ghaziabad's realty landscape
As per experts, the localities of Muradnagar and Modinagar in Ghaziabad are likely to witness improved realty transactions post-TOD implementation. The areas under the TOD zone will enjoy increased Floor Area Ratio (FAR). While in developed regions, it will be set at 3.5, the developing markets will be awarded a FAR of five. The GDA hopes to translate this into more multi-storey buildings.
Further, the areas that fall within 500 m on each side of the intra and inter-city bus and metro systems will be under the influence of TOD. In the case of RRTS and high-speed rail networks, up to 1.5 km on either side of the tracks will be treated as TOD zones. The TOD areas are expected to generate around Rs 1,500 crore per year, which will be equally divided between the GDA and NCRTC.
With the RRTS and TOD policies joining hands to urbanise the locales along the corridors, the real estate of Ghaziabad and other connected regions are likely to boost and gain immensely from the same.
