The National Capital Region Transport Corporation (NCRTC) has invited bids to lease 45,469 square meters of commercial space across six stations along the Delhi-Meerut Regional Rapid Transit System (RRTS) corridor. This initiative is part of the larger 30,000-crore RRTS project aimed at improving connectivity between Delhi and Meerut. The leased spaces will host various facilities like healthcare units, co-working hubs, fitness centres, and mobility services. NCRTC also plans to integrate parking facilities with commercial spaces, contributing to the project's financial sustainability. Real estate experts anticipate the RRTS will boost property markets in satellite towns such as Ghaziabad, Modinagar, and Meerut, driving regional economic growth.
The National Capital Region Transport Corporation (NCRTC), which is developing the Delhi-Meerut Regional Rapid Transit System (RRTS) project at an investment of 30,000 crore, has invited bids to lease 45,469 square meters of commercial space across six stations on the corridor. The project, designed to improve connectivity between Delhi and Meerut, is also supported by funding from the Asian Development Bank, the New Development Bank, and the Asian Infrastructure Investment Bank.
The Delhi-Meerut RRTS is an ambitious high-speed rail project spanning 82 kilo-meters, with the aim of reducing travel time between Delhi and Meerut. Currently, the Namo Bharat train services are operational on a 42-km stretch, covering nine stations from Sahibabad to Meerut South. Trial runs are underway on Delhi's Anand Vihar and New Ashok Nagar stations, and the entire corridor is being phased in for full operation. By 2031, three of the key stations are expected to serve nearly 100,000 passengers daily.
NCRTC plans to transform select RRTS stations into commercial hubs to generate non-fare revenue. The identified stations include Guldhar with 7,386 square meters, Duhai with 5,668 square meters, Muradnagar with 7,572 square meters, Modinagar South with 4,543 square meters, Modinagar North with 5,180 square meters, and Meerut South with 15,220 square meters.
The leased spaces will host a variety of facilities, such as recreational centres, experience zones, healthcare units, rental housing, co-working spaces, fitness centres, and mobility services. These developments aim to enhance the commuter experience and generate additional revenue streams for the RRTS project.
NCRTC also intends to integrate parking facilities with these commercial spaces to improve convenience for commuters and promote transit-oriented development. The parking areas may include outlets, food courts, offices, and serviced or studio apartments. This approach aims to enhance the financial sustainability of the RRTS project while benefiting the regional economy. Additionally, the NCRTC has identified 17.27 hectares of land in south Delhi's Jangpura area to develop serviced apartments for leasing purposes.
Real estate experts believe the Delhi-Meerut RRTS corridor will significantly boost the property market in satellite towns such as Ghaziabad, Modinagar, Muradnagar, and Meerut, which have struggled to attract buyers compared to Gurgaon and Manesar. With improved connectivity, these areas are expected to become more appealing for businesses and residents alike.
This initiative underscores NCRTC's efforts to create a seamless commuter experience while fostering economic growth in the region.
Advertisement
Facebook
Whatsapp
