India News | Indraprastha Bus Depot Project: Feasibility Study Suggests 50% Share of Built-up Area for DSIIDC

New Delhi, Oct 17 (PTI) The DSIIDC should keep a 50 per cent share of the built-up area, as opposed to the existing proposal of 40 per cent, for the redevelopment of the Indraprastha bus depot, according to a financial feasibility report on the project.

The Delhi State Industrial and Infrastructure Development Corporation Ltd (DSIIDC) conducted a financial feasibility study for the long-standing proposal of the redevelopment of the bus depot.

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"The study suggested that the project will prove to be beneficial for the body only if they keep 50 per cent of the built-up area while the remaining is kept by the DTC. According to the earlier proposal, the total built-up area of the building will be 12,000 square metres while the share of the DSIIDC area is 40 per cent of the built-up area for the lease period of 30 years," a govt official said on Tuesday.

The official said the study was conducted to prepare a reasonable estimation of the likely revenues, and identify risks associated with the project.

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"Financial advisors suggested that since it is a capital intensive project, it should not lead to losses,” the official said.

The official, citing the study, said that if the DSIIDC's share of the built-up area will be equal to that of the DTC (Delhi Transport Corporation), only then can it get at least 10 per cent interest by renting out the space it will have.

“They have made these suggestions, and now we will discuss with the DTC on how to take this forward. We will tell them about the findings of the study and wait for their response," he added.

According to official documents, the redevelopment will be carried out at an estimated cost of Rs 206 crore. A 13-storey building with a double basement for parking and other services will be constructed as part of the project.

The DTC headquarters, whose building will also be rebuilt, is located adjacent to the bus depot. The bus depot has a capacity of housing 180 buses.

The redevelopment project of the bus depot and the DTC headquarters -- both constructed in 1958 -- has been a long-standing proposal that has not achieved fruition till now, an official said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)