Union Cabinet approved ‘National Capital Region Transport Corporation Limited’

By Accommodation Times News Service
This will facilitate and attract development in the region and will increase residential property demand in the regions

As per Urban Development Minister Shri Kamal Nath’s urge for the need of an economic and efficient mass transportation system as an essential driver of regional economic development and highlighted the need for Regional Rapid Transit System (RRTS) in National Capital Region (NCR). The Union Cabinet today approved constitution of National Capital Region Transport Corporation Limited (NCRTC) under the Companies Act, 1956. This will facilitate and attract development in the region and will increase residential property demand in the regions.

At the initial stage government is providing a capital of Rs.100 crore as per Company Act, 1956. For the process of designing, developing, implementing, financing, operating and maintaining RRTS in NCR to provide comfortable and fast transit to NCR towns. The project will meet the high growth in transport demand.  This company may form subsidiary companies for implementing each corridor. The actual cost, financing plan, RRTS alignments, real estate development, financing through Transit Oriented Development, etc. will be firmed up and frozen in the DPRs of these projects while processing proposals for each corridor for sanction subsequently.  The DPRs are under finalization.

The seed capital of Rs. 100 crore shall be contributed as follows:-

Central Government
Ministry of Urban Development : 22.5%
Ministry of Railways : 22.5%
National Capital Region

Planning Board

: 5.0%





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