Punj Lloyd to build 5000 houses for Delhi Police
Punj Lloyd will build 5,000 housing units for Delhi Police at Dheerpur, Delhi. Recently, the foundation stone for Rs1300-crore integrated housing development project was laid by Tejendra Khanna, Lieutenant Governor of Delhi. The project will be executed through design, build, finance, operate and transfer (DBFOT) model. Punj Lloyd will be responsible for development, operation and maintenance of the residential zone spread over 40 lakh sq. ft.
The scope of work also includes development and commercial operations of the support infrastructure such as schools, healthcare, convenience shopping, as per the norms laid down in the Delhi master plan 2021. Punj Lloyd has set up Indraprastha Metropolitan Development Limited, a special purpose vehicle which is the concessionaire and is responsible for the development of the project.
Tejendra Khanna said, “This is a landmark project – the first ever public private partnership model in housing of this scale in the country. The foundation stone laying is the first major milestone for this project and I urge everyone involved to complete the project as per schedule. Punj Lloyd is known for delivering projects in time without compromising on quality and I expect them to maintain those high standards in this project as well.”
Commenting on the development, Luv Chhabra, director, Punj Lloyd said, “It is a matter of honour and pride for Punj Lloyd Group to be associated with the Delhi Police and ministry of home affairs on this prestigious project on a public private partnership (PPP) model. We are committed to delivering the project on time and support the endeavour of increasing the housing satisfaction level for Delhi Police personnel.”
The project has achieved financial closure and the master layout design has been jointly agreed with Delhi Police. The construction of the project is expected to commence soon on receipt of all statutory approvals.