The Union Cabinet under the Chairmanship of Prime Minister Narendra Modi has approved redevelopment of residential colonies at West Ansari Nagar and Ayur Vigyan Nagar Campuses of All India Institute of Medical Sciences (AllMS), New Delhi. National Buildings Construction Corporation Limited (NBCC) will undertake the exercise to replace the existing housing stock of 1,444 dwelling units of Type I to IV with Build Up Area (BUA) of approx. 0.87 lakh sqm with approx. 3,928 dwelling units of Type II to VI with BUA of approx. 4.02 lakh sqm. It will also create social infrastructure facilities of approx. 0.65 lakh sq.mtr. including Dharamshala and approx. 0.94 lakh sq.mtr. commercial BUA.
The total estimated cost of the project is Rs.4441 crore including maintenance and operation costs for 30 years. The project shall be implemented on self-financing basis by sale of commercial space on free hold basis with no cost to the exchequer to the Government. The project will be completed in five years in a phased manner.