Delhi Metro To Sell Over 500 Flats Soon

Posted By:
Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    The Delhi Metro Rail Corporation is all set to venture into the residential real estate market and will soon put up over 500 flats, in the Rs. 60 lakh to Rs. 1 crore range, for sale.

    A senior Delhi Metro Rail Corporation (DMRC) official said the Metro had initiated the process on this front and people will be able to book a flat, which will come up in Janakpuri and Okhla area, in a month or two.

    Delhi Metro To Sell Over 500 Flats Soon

    Around 460 flats would be built in Janakpuri while 90 in Okhla, tentatively within two years.

    Plots have been identified, however, construction work has not yet started. Metro will soon make a formal announcement of the project.

    The official said DMRC would follow the model of Delhi Development Authority (DDA) in selling the apartments, which essentially means allotment will be done through a lottery.

    Fifteen per cent of the flats, which will be a mix of 2- BHK and 3-BHK, would be reserved for the economically weaker section, Metro said, adding that the brochures are likely to be out within a month.

    This will be the metro's maiden foray into the residential real estate market. It is already into property development and also has some staff quarters.

    Read more about: metro flat
    Story first published: Wednesday, April 12, 2017, 14:54 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more