NEW DELHI: The mega built-in exhibition-cum-convention centre (IECC) at Pragati Maidan gets a five-star lodge as the federal government on Wednesday licensed the proposal to monetise three.7 acres of land for partially funding the bold challenge. This is predicted to generate Rs 500 crore income for the India Trade Promotion Organisation (ITPO), which is enforcing the challenge.
On Wednesday, the Cabinet licensed leasing out the land for 99 years to a 3rd celebration including personal avid gamers for building and working of the lodge challenge. TOI has learnt that the Cabinet has also waived Rs 96.63 crore, which the land and development office (L&DO) below city affairs ministry would have levied as charges for FAR and flooring coverage of the lodge challenge. Sources said the Cabinet licensed waiver of Rs 942 crore through railways for land charges, which the Delhi Public Works Department (PWD) would have paid to the nationwide transporter for using its land for decongestion of the realm around Pragati Maidan. The decongestion plan contains construction a tunnel between Purana Quila and Ring Road, making Mathura Road signal-free and bettering the junction at Bhairon Marg-Ring Road intersection.
According to an reputable free up, the monetisation measure is a part of the phase-I of redevelopment challenge of Pragati Maidan, which was once licensed through the Cabinet in January ultimate yr at an estimated value of Rs 2,254 crore. IECC challenge envisages building of an international magnificence state-of-the-art exhibition-cum-convention centre with a seating capability for 7,000 individuals, exhibition, area of over one lakh squaremetre and a basement parking for 4,800 cars.
On Wednesday, the Cabinet licensed leasing out the land for 99 years to a 3rd celebration including personal avid gamers for building and working of the lodge challenge. TOI has learnt that the Cabinet has also waived Rs 96.63 crore, which the land and development office (L&DO) below city affairs ministry would have levied as charges for FAR and flooring coverage of the lodge challenge. Sources said the Cabinet licensed waiver of Rs 942 crore through railways for land charges, which the Delhi Public Works Department (PWD) would have paid to the nationwide transporter for using its land for decongestion of the realm around Pragati Maidan. The decongestion plan contains construction a tunnel between Purana Quila and Ring Road, making Mathura Road signal-free and bettering the junction at Bhairon Marg-Ring Road intersection.
According to an reputable free up, the monetisation measure is a part of the phase-I of redevelopment challenge of Pragati Maidan, which was once licensed through the Cabinet in January ultimate yr at an estimated value of Rs 2,254 crore. IECC challenge envisages building of an international magnificence state-of-the-art exhibition-cum-convention centre with a seating capability for 7,000 individuals, exhibition, area of over one lakh squaremetre and a basement parking for 4,800 cars.
5-star hotel to come up at Pragati Maidan
![5-star hotel to come up at Pragati Maidan]()
Reviewed by Kailash
on
June 14, 2018
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