DMRC seeks Rs 72 billion in Delhi budget for Phase-IV completion

25 Nov 2024 CW Team

In a letter to the Chief Secretary, DMRC Managing Director Vikas Kumar warned that delays in funding could result in project setbacks and cost overruns. The Phase-IV expansion includes the construction of three priority corridors: RK Ashram to Janakpuri (West), Aerocity to Tughlaqabad, and Mukundpur to Maujpur. These corridors, spanning nearly 62 km, are expected to be completed by 2026. Sanctions for two additional lines—Lajpat Nagar to Saket G Block and Inderlok to Indraprastha—were received earlier this year, while another corridor, Rithala to Nathupur, is still awaiting approval.

Kumar emphasised that the Phase-IV project, estimated at Rs 249.48 billion, requires consistent funding to meet deadlines. He called for urgent intervention to ensure the release of necessary funds to avoid delays and prevent cost overruns. DMRC's finance director had also previously appealed for financial support to maintain uninterrupted construction of metro lines.

Additionally, Kumar requested the immediate release of Rs 3.76 billion to the Public Works Department (PWD) for the construction of three unique double-decker viaducts along the Aerocity-Tughlaqabad corridor and others. These viaducts, with metro trains on the upper deck and vehicles below, are crucial for the Phase-IV expansion.

DMRC has completed all corridors under Phase-III, spanning 160 km, but it still requires approximately Rs 7.25 billion to fulfill contractual obligations. The corporation also sought funds to cover the repayment of the Japan International Cooperation Agency (JICA) loan for earlier phases and to address the Delhi government’s share of foreign exchange variation.

The DMRC has urged the Delhi government to approve the necessary funds in the revised budget estimates for FY 2024-25, enabling the timely release of payments to keep Phase-IV construction on track.

(ET)

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

As the Delhi government finalises the revised budget for the 2024-25 financial year, the Delhi Metro Rail Corporation (DMRC) has requested Rs 72 billion to fulfill key commitments, including the timely completion of new corridors under Phase-IV and pending payments for the Phase-III expansion. In a letter to the Chief Secretary, DMRC Managing Director Vikas Kumar warned that delays in funding could result in project setbacks and cost overruns. The Phase-IV expansion includes the construction of three priority corridors: RK Ashram to Janakpuri (West), Aerocity to Tughlaqabad, and Mukundpur to Maujpur. These corridors, spanning nearly 62 km, are expected to be completed by 2026. Sanctions for two additional lines—Lajpat Nagar to Saket G Block and Inderlok to Indraprastha—were received earlier this year, while another corridor, Rithala to Nathupur, is still awaiting approval. Kumar emphasised that the Phase-IV project, estimated at Rs 249.48 billion, requires consistent funding to meet deadlines. He called for urgent intervention to ensure the release of necessary funds to avoid delays and prevent cost overruns. DMRC's finance director had also previously appealed for financial support to maintain uninterrupted construction of metro lines. Additionally, Kumar requested the immediate release of Rs 3.76 billion to the Public Works Department (PWD) for the construction of three unique double-decker viaducts along the Aerocity-Tughlaqabad corridor and others. These viaducts, with metro trains on the upper deck and vehicles below, are crucial for the Phase-IV expansion. DMRC has completed all corridors under Phase-III, spanning 160 km, but it still requires approximately Rs 7.25 billion to fulfill contractual obligations. The corporation also sought funds to cover the repayment of the Japan International Cooperation Agency (JICA) loan for earlier phases and to address the Delhi government’s share of foreign exchange variation. The DMRC has urged the Delhi government to approve the necessary funds in the revised budget estimates for FY 2024-25, enabling the timely release of payments to keep Phase-IV construction on track. (ET)

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Infrastructure Urban

07 Jul 2026

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..