Dehradun - Smart City. A good news for investors. But is it really going to be, and if yes then when? Read here the full story about strategies and planning how MDDA is planning to make it Smart City.
The Mussoorie-Dehradun Development Authority (MDDA) has devised a three-pronged strategy for turning Dehradun into a smart city. Disclosing that the initiative would be the agency's most ambitious project this year, R Meenakshi Sundram, vice-chairman, MDDA, said that they are gearing to prepare for the project which would be executed under a Public-Private Partnership (PPP) model. "If all goes as per plan, in a few years' time, the city's landscape would be completely transformed," he said.
PPP MODEL
MDDA's strategy for the smart city endeavour would involve three crucial steps: retro-fitment, redevelopment, and developing greenfield townships. While retro-fitment would focus on identifying and redoing old buildings and heritage structures at a proposed budget of Rs 50 crore, the redevelopment component of the project is inspired by the Singapore model of development. In this, the accent would be on commercial and residential townships which would be developed at a cost of Rs 250 crore. The greenfield townships would be developed on the pattern of Navi Mumbai. A budget of Rs 750 crore has been earmarked for that. "We will create the infrastructure and give to the buyers. The funds generated through these projects will be utilized to repay the loans taken," said Sundram.
Work on the scheme would be kickstarted after the Centre releases a government order, expected on February 28, post which states can apply online for grants. According to Sundram, those cities whose GDP was above 54% would be eligible for funding. "Funds will be relocated as per the performance of the city. Performance would be judged on the basis of various parameters ranging from how the cities have fared in the Swachh Bharat abhiyaan to their tax collections," he said.
While the time duration set for completion of the retro-fitment component of the plan is three years, the redevelopment deadline is five years, whereas that of the greenfields township proposal is ten years. According to sources, MDDA has already earmarked the area for developing into greenfields. Sources added that nearly Rs 6,000 crore would be required to develop 250 acres of land. If need be, they said, MDDA might approach HUDCO, ADB or World Bank for getting funds.
So, if you are planning for any investment in Dehradun's Property. Your time is now.
The Mussoorie-Dehradun Development Authority (MDDA) has devised a three-pronged strategy for turning Dehradun into a smart city. Disclosing that the initiative would be the agency's most ambitious project this year, R Meenakshi Sundram, vice-chairman, MDDA, said that they are gearing to prepare for the project which would be executed under a Public-Private Partnership (PPP) model. "If all goes as per plan, in a few years' time, the city's landscape would be completely transformed," he said.
PPP MODEL
Public-private partnership (PPP) is a funding model
for a public infrastructure project such as a new telecommunications
system, airport or power plant. The public partner is represented by the
government at a local, state and/or national level.
MDDA's strategy for the smart city endeavour would involve three crucial steps: retro-fitment, redevelopment, and developing greenfield townships. While retro-fitment would focus on identifying and redoing old buildings and heritage structures at a proposed budget of Rs 50 crore, the redevelopment component of the project is inspired by the Singapore model of development. In this, the accent would be on commercial and residential townships which would be developed at a cost of Rs 250 crore. The greenfield townships would be developed on the pattern of Navi Mumbai. A budget of Rs 750 crore has been earmarked for that. "We will create the infrastructure and give to the buyers. The funds generated through these projects will be utilized to repay the loans taken," said Sundram.
While the time duration set for completion of the retro-fitment component of the plan is three years, the redevelopment deadline is five years, whereas that of the greenfields township proposal is ten years. According to sources, MDDA has already earmarked the area for developing into greenfields. Sources added that nearly Rs 6,000 crore would be required to develop 250 acres of land. If need be, they said, MDDA might approach HUDCO, ADB or World Bank for getting funds.
So, if you are planning for any investment in Dehradun's Property. Your time is now.
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