First in India – Centre and State Set to Share Land Cost – Delhi Metro Phase 4

Delhi Metro phase 4: The Delhi Metro phase 4 funding pattern has been finalized! The Central government and its counterpart in Delhi will bear the cost of land pertaining to Delhi Metro Phase-IV in a 50-50 ratio. The cost-sharing model will be applicable to three priority corridors of Delhi Metro phase 4 – R K Ashram to Janakpuri (West), Aerocity to Tughlakabad, and Mukundpur to Maujpur, according to a Cabinet release.

With this, Delhi becomes the first city in India where the land cost in any metro project will be borne by both central as well as state governments. The decision was taken in a Cabinet meeting chaired by Prime Minister Narendra Modi on Wednesday. The central government’s move followed the specific amendments to Metro Rail Policy, 2017, which are applicable only for Delhi. This was in compliance with a Supreme Court order dated September 6, 2019, the Government of India statement reads.

The total estimated cost of the Delhi Metro phase 4 project has remained unchanged at Rs 24,948.65 crore. However, the Government of India’s contribution increases from the existing Rs 4,154.20 crore to Rs 4,643.638 crore resulting in a net increase of Rs 489.438 crore. Delhi Metro Rail Corporation (DMRC) will have to pay more for the external loan to multilateral agencies. Earlier, the external loan amount stood at Rs 11,462.60 crore. Now the amount has increased to Rs 12,930.914 crore with a net increase of Rs 1,468.314 crore, as per the statement.
Delhi Metro phase 4 route, stations

Delhi Metro Phase 4 is touted as the longest corridor on DMRC’s vast network that criss-crosses the national capital as well as connects Noida, Gurgaon, Ghaziabad and Faridabad. Earlier, a proposal has been made for six new corridors under the Delhi Metro Phase 4. These corridors will have a combined length of around 104 km. Delhi government gave its nod for all six corridors in December 2018. Earlier in March 2019, Central government approved three priority corridors out of the total six.

Three priority corridors of Delhi Metro Phase 4 are — Tughlakabad-Aerocity corridor, Janakpuri West-RK Ashram Marg, and Mukundpur-Maujpur. Tughlakabad-Aerocity corridor will be 20.20 km long with 15 new metro stations. Janakpuri West-RK Ashram Marg corridor will be the longest among these three corridors with a length of 28.9 km. The corridor will have 25 new stations. Mukundpur-Maujpur corridor will be 12.54 km long and will have six new stations.

Source: FE

Image Courtesy: Money Control