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Rapidly Growing The Need For Housing Has Influence Project Remodelling : Gurugram Global City

Rapidly Growing The Need For Housing Has Influence Project Remodelling  : Gurugram Global City

The bidders didn’t say much about the appetite for commercial space in Gurugram. The Global City has aimed to develop as a futuristic city within the walk-to-work culture. This ambitious Global City Project in Gurugram comes with a mixed land-use initiative for which bids were invited in March this year for three sites. This is being remodeled keeping in view of the increasing demand for residential facilities in the National Capital Region (NCR).

 This project comes to around 1,000 acres of Khandsa, Narsinghpur, Mohammadpur Jharsa, Garauli Khurd, and Garhi Harsaru in Gurugram. This mixed-land use involves planning a compatible use on the real estate development project which comes with a combination of commercial, residential, institutional, and recreational functions.

 By keeping in view housing demand in Gurugram, the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC), a state public sector enterprise marketing the Gurugram project has decided in its board of directors that the meeting at Chandigarh has increased the permissible residential use in two f the three sites of 78.53 acres and 23.76 acres puts an auction from the maximum of 20% to 35% each.

 The commercial use in these two sites has come down to a minimum of 65% each from the existing 80% as said officials. The corporation has also decided to drop the 23 acres of land parcel, having a maximum residential component with 30% of the bidding process. When a smaller parcel of 27.07 acres, has a permissible residential use of a minimum of 50% would be put up for e-auction.

 HSIIDC officials said that the modification of this land use of a large land parcel of 78.53 acres along with another parcel of 23.76 acres. The new sites of 27.07 acres have a bigger residential component was done in view of the feedback of prospective bidders. The three sites are also aggregating 129.36 acres instead of 142.52 acres earlier and will be put up for fresh bidding.

 The tentative date of e-auction is going to take advantage from May 19 to June 19 and has stands deferred in view of the remodeling of the bid document. The aggregate 129.36 acres of land has been used. The reserve price of 27.07 acres of sites would also increase from 1,073 crore to rs 1,079 crore, said the officials.

 The government of Haryana in 2017 has also accorded in-principle approval for the redesignation of about 1,000 acres of Global City project land as a special zone. This has also developed a mixed land use entity, and a final development plan for Gurgaon-Manesar Urban Complex, 2031. The provision of a 300-floor area ratio and is aimed at being developed as a futuristic city within a city offering walk-to-walk culture and state-of-the-art infrastructure facilities.

 The auction has been reportedly delayed by a couple of months following a gaffle by the HSIIDC. The chief minister Manohar Lal Khattar led a state delegation to the Gulf in October 2022 to market this project. The corporation has belatedly woke up to the reality that the acquisition of 1,000 acres earmarked for the project was under challenge in three separate want petitions before the Punjab and Haryana high court (HC).

 The decks were cleared for this particular project launch in January 2023 as the three writ petitions challenging the acquisition of land were disposed of as “not pressed and withdrawn” by the HC. Another three petitions were filed by the former Congress (Now in BJB) leader Kuldeep Bishnoi. The JJP leader, Ajay Cjautala, father of Haryana deputy CM Dushyant Chautala holds the industries and commerce portfolio and gram Panchayat of Gharauli Khurd.

 Even the high court had in 2016 ordered a stay on the acquisition of the land parcels in Gurgaon which is the acquisition of the land parcel in Gurugram on which the about 1000 acres Global City is proposed to come up.

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Axiom Landbase

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