New Delhi, Oct 13: The union cabinet on Thursday approved redevelopment of residential colonies at West Ansari Nagar and Ayur Vigyan Nagar campuses of All India Institute of Medical Sciences (AIIMS), according to an official statement on Thursday.
The decision was taken by the Cabinet headed by Prime Minister Narendra Modi.
The approximate cost of the project is Rs 4,441 crore, including maintenance and operation costs for 30 years.
“National Buildings Construction Corporation Limited (NBCC) will undertake the exercise to replace existing housing stock of 1,444 dwelling units of Type I to IV with Build-Up Area (BUA) of approximately 0.87 lakh sq metres,” said an official statement.
“3,928 dwelling units are of Type II to VI with BUA of approximately 4.02 lakh sq mtr. It will also create social infrastructure facilities of approximately 0.65 lakh sq mtr, including Dharamshala, and approximately 0.94 lakh sq mtr commercial BUA,” the statement added.
The five-year project will work on a self-financing basis by sale of commercial space on free-hold with no cost to the government exchequer.