Indian Railways to build affordable homes near stations
The Indian Railway Station Development Corporation (IRSDC) has set out plans to build affordable housing in Delhi, Zee Media reported, citing high-ranking officials close to the initiative.
The IRSDC, which operates under the Ministry of Railways, plans to build residential units in sizes ranging from 40 to 60 square metres near select train stations. They will mostly be classified as studio apartments and 1-BHK (one bedroom, one hall, one kitchen) homes, with prices ranging between INR40 lakh (USD56,300) and INR50 lakh.
These units will offer residential opportunities to commuters going to work from remote areas in the city, an official relayed to Zee Media.
The IRSDC is currently refurbishing the Bijavasan station in Delhi into a state-of-the art multi-transport hub under the Railway Stations Re-Development Program. Located close to the Indira Gandhi International Airport, the Bijavasan station will be redeveloped at a cost of INR350 crore initially, supported in part by loans from the Indian Railway Finance Corporation.
The first phase of the redevelopment will cover the main station area and terminal and complete in around two and a half years.
The New Delhi and Old Delhi railway stations, as well as the Sarai Rohilla and Nizamuddin stations, have undergone various stages of redevelopment, Zee Media noted.
Hong Kong’s homecoming: Housing market reawakens, will it weather the interest rate storm?
Hong Kong’s reopening has led to growing indications of a rebound in the territory’s struggling housing market
6 of the exciting areas to visit in Lipa, Batangas (PH)
With its cool weather, nature, and laid-back lifestyle, this city in Batangas Province is a rising star
Ok, boomers, Gen X’ers: Where are they now in their property journeys?
Ageing societies in Southeast Asia mean that catering to the requirements of mature investors will be a key challenge for developers
Pursuing a career in sustainability paves a path for a green, resilient, inclusive property sector
The Narrow Door Podcast Host Sam Oh speaks with World Bank Group's Angelo Tan on his career journey