Phase 3: Jamia, Faridabad on Metro map
Covering several more residential, business and academic centres of the city than originally planned, the Delhi Metro is giving final shape to its third phase.
The proposed Phase III will cost `27,500 crores for the Delhi extensions and is expected to be completed by March 2016. With this, the DMRC will cover 70 per cent of the city’s population and include Farida-bad and Noida, DMRC managing director E. Sreedharan said.
The project was approved in principle by the Delhi government in October 2010. But the government has suggested some amendments, asking the DMRC to cover more areas so as to include the outer and the inner Ring Roads.
“We were supposed to have met the Planning Commission officials with the detailed project report (DPR) of Phase III by January 13 for a review and to take a final call on the budget decision. The meeting never happened as we are not ready with the DPR. It is still being finalised,” Mr Sreedharan said.
“We had prepared a DPR for 70 km. Now, but the Delhi government wants some alterations. So Phase III is coming to almost 104 km, 34 km extra,” the DMRC chief said.
After the Planning Commission’s approval, the Phase III project will be reviewed by an empowered committee of officials before going for Union Cabinet approval.
A final decision on the funding pattern is yet to be taken, but the DMRC has given some suggestions in this regard.
“One option is for the two governments (India and Japan) contributing 40 per cent (each) of the cost. The Japanese funding can extend to nearly 40 per cent and the DMRC can raise about five to eight per cent on the property development as things are looking up on the real estate front,” he explained.
Mr Sreedharan said Delhi Metro has already begun preliminary works of Phase III to save time.
He said that by the time Phase III is over, the Delhi Metro is targeting a ridership of three million per day and daily revenue reaching over `5 crores.
“Once Phase III is successfully completed we will go for Phase IV,” the Metro chief added.
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