Latest news with #MEDA
Time of India
2 days ago
- Business
- Time of India
Meerut Transit Oriented Development: Meerut Pioneers Transit Oriented Development Zones in India, ET Infra
Advt By , ET Bureau Meerut has become the first city in India to integrate transit oriented development (TOD) zones into its 2031 Master Plan. This would incorporate urban development around a transit project, potentially unlocking new real estate opportunities in the region. Meerut Development Authority (MEDA) has earmarked about 3,273 hectares for the TOD, out of which 2,442 hectares have been delineated into seven TOD zones and two special development area (SDA) zones around the Namo Bharat and Meerut Metro corridors."While the majority of the land is privately held and we will earn revenue through FSI, we are also planning a 300-hectare township where we will auction land to private developers," said Vijay Kumar Singh, town planner at MEDA. "We are doing the zonal planning in consultation with NCRTC ."National Capital Region Transport Corporation (NCRTC) is implementing India's first Namo Bharat corridor between Delhi, Ghaziabad, and Meerut. Namo Bharat is India's first regional rapid transit system (RRTS) train service with the first being the Delhi-Ghaziabad-Meerut project."By harnessing potential of transit-oriented development and value capture financing, NCRTC is enhancing financial sustainability of Namo Bharat project," said Shalabh Goel, MD, NCRTC.
Time of India
2 days ago
- Business
- Time of India
Transit oriented development in Meerut to unlock real estate on Namo Bharat corridor
Meerut has become the first city in India to integrate Transit Oriented Development (TOD) zones into its 2031 Master Plan. This would incorporate urban development around a transit project, potentially unlocking new real estate opportunities in the region. Meerut Development Authority (MEDA) has earmarked about 3,273 hectares for the TOD, out of which 2,442 hectares have been delineated into seven TOD zones and two special development area (SDA) zones around the Namo Bharat and Meerut Metro corridors. 'While the majority of the land is privately held and we will earn revenue through FSI, we are also planning a 300-hectare township where we will auction land to private developers,' said Vijay Kumar Singh, town planner at MEDA. 'We are doing the zonal planning in consultation with NCRTC.' National Capital Region Transport Corporation (NCRTC) is implementing India's first Namo Bharat corridor between Delhi, Ghaziabad, and Meerut. Namo Bharat is India's first Regional Rapid Transit System (RRTS) train service with the first being the Delhi-Ghaziabad-Meerut project. 'By harnessing the potential of transit-oriented development and value capture financing, NCRTC is enhancing the financial sustainability of the Namo Bharat project,' said Shalabh Goel, managing director, NCRTC. 'This integrated approach is poised to redefine the future of transportation infrastructure, fostering vibrant, liveable communities and generating economic value that benefits both the region and its residents.' The two SDA zones—458 hectares as Meerut South SDA Zone and 373 hectares as Modipuram SDA Zone—are located on two ends of the Meerut metro section of the corridor. The Uttar Pradesh government formulated its TOD policy in 2022. Globally, cities like Stockholm, Copenhagen, Hong Kong, Singapore, and Tokyo have successfully used TOD to fund public transportation and enhance urban planning. It has, in turn, improved economic productivity and quality of life for people in these cities. Out of the entire 82 km of the Delhi-Ghaziabad-Meerut Namo Bharat corridor, 68 km falls under Ghaziabad and Meerut districts. In addition, the Namo Bharat infrastructure will also host local metro services in Meerut. The National Metro Rail Policy 2017 said urban mass transit projects should not merely be seen as urban transport projects but more as urban transformation projects. It mandated states to explore conventional and innovative non-fare box revenue (NFBR) options for the long-term financial sustainability of the projects by formulating their own policies. The housing and urban development ministry took a major step forward by introducing a value capture financing policy, providing a framework for states and union territories to harness the potential of their assets – including underutilised land – to drive infrastructure development. As per UP's TOD policy, areas within 500 meters of city mass transit systems like metro lines, and 1.5 kilometres on each side of intercity transit systems like Namo Bharatr, are considered TOD zones, where building taller, mixed-use developments will be promoted. This includes residential, commercial, and office spaces, along with public amenities. Also, base floor area ratio (FAR)—currently at 2.5—will be increased in areas under the TOD Zone to 4 in developed areas and 5 in undeveloped areas. Ghaziabad has also identified TOD zones and incorporated them in its city master plan. It is currently awaiting final approval from the state government for implementation.
Time of India
3 days ago
- Business
- Time of India
Transit Oriented Development in Meerut to unlock real estate on Namo Bharat corridor
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Meerut has become the first city in India to integrate Transit Oriented Development (TOD) zones into its 2031 Master Plan. This would incorporate urban development around a transit project, potentially unlocking new real estate opportunities in the Development Authority (MEDA) has earmarked about 3,273 hectares for the TOD, out of which 2,442 hectares have been delineated into seven TOD zones and two special development area (SDA) zones around the Namo Bharat and Meerut Metro corridors.'While the majority of the land is privately held and we will earn revenue through FSI, we are also planning a 300-hectare township where we will auction land to private developers,' said Vijay Kumar Singh, town planner at MEDA. 'We are doing the zonal planning in consultation with NCRTC.'National Capital Region Transport Corporation (NCRTC) is implementing India's first Namo Bharat corridor between Delhi, Ghaziabad, and Meerut. Namo Bharat is India's first Regional Rapid Transit System (RRTS) train service with the first being the Delhi-Ghaziabad-Meerut project.'By harnessing the potential of transit-oriented development and value capture financing, NCRTC is enhancing the financial sustainability of the Namo Bharat project,' said Shalabh Goel, managing director, NCRTC. 'This integrated approach is poised to redefine the future of transportation infrastructure, fostering vibrant, liveable communities and generating economic value that benefits both the region and its residents.'The two SDA zones—458 hectares as Meerut South SDA Zone and 373 hectares as Modipuram SDA Zone—are located on two ends of the Meerut metro section of the Uttar Pradesh government formulated its TOD policy in 2022. Globally, cities like Stockholm, Copenhagen, Hong Kong, Singapore, and Tokyo have successfully used TOD to fund public transportation and enhance urban planning. It has, in turn, improved economic productivity and quality of life for people in these of the entire 82 km of the Delhi-Ghaziabad-Meerut Namo Bharat corridor, 68 km falls under Ghaziabad and Meerut districts. In addition, the Namo Bharat infrastructure will also host local metro services in National Metro Rail Policy 2017 said urban mass transit projects should not merely be seen as urban transport projects but more as urban transformation projects. It mandated states to explore conventional and innovative non-fare box revenue (NFBR) options for the long-term financial sustainability of the projects by formulating their own housing and urban development ministry took a major step forward by introducing a value capture financing policy, providing a framework for states and union territories to harness the potential of their assets – including underutilised land – to drive infrastructure per UP's TOD policy, areas within 500 meters of city mass transit systems like metro lines, and 1.5 kilometres on each side of intercity transit systems like Namo Bharatr, are considered TOD zones, where building taller, mixed-use developments will be promoted. This includes residential, commercial, and office spaces, along with public amenities. Also, base floor area ratio (FAR)—currently at 2.5—will be increased in areas under the TOD Zone to 4 in developed areas and 5 in undeveloped has also identified TOD zones and incorporated them in its city master plan. It is currently awaiting final approval from the state government for implementation.
Business Standard
21-04-2025
- Business
- Business Standard
Crompton Greaves jumps on bagging LoA from MEDA worth Rs 10.60 crore
Crompton Greaves Consumer Electricals added 1.17% to Rs 336 after the firm bagged a prestigious letter of award (LoA) from the Maharashtra Energy Development Agency (MEDA) under the central government's PM-KUSUM scheme worth Rs 10.60 crore. The order includes the design, manufacturing, transportation, and installation of solar photovoltaic water pumping systems across various locations in Maharashtra. These systems are aimed at helping farmers access reliable, off-grid water sources powered by solar energy. With this development, Crompton continues to expand its presence in solar pumping, an area it has been actively investing in. The companys pumps are built for durability and efficiency, using stainless steel construction for resistance to rust and corrosion. Crompton also brings a solid track record of performance, supported by advanced product design, strong R&D, and a wide service network. This initiative falls under component B of the PM-KUSUM scheme, which promotes the use of solar-powered pumps to reduce dependence on grid electricity and diesel. It also supports the national goal of boosting clean energy use in agriculture while offering farmers more control and savings. Indias submersible pump market is growing rapidly, with demand driven by agriculture, rural water needs, and infrastructure development. The shift toward solar technology is especially important in areas with limited access to stable electricity, where solar-powered pumps offer a practical and cost-effective alternative. Speaking on the development, Rajat Chopra, Business Head Home Electricals & Pumps, said, Partnering with MEDA under the PM-KUSUM scheme is a big step forward in supporting rural and off-grid areas with clean, long-lasting water solutions. Our pumps are built to perform in tough conditions and deliver consistent results for farmers and rural users. Crompton Greaves Consumer Electricals is one of the leading consumer companies in India with a brand legacy of over 75 years. It is an independent company under professional management, operating in two business segments: lighting and electrical consumer durables. We market our products under the Crompton brand name in India and select export markets. The companys consolidated net profit jumped 27.7% to Rs 109.84 crore on 4.5% increase in revenue from operations to Rs 1,769.21 crore in Q3 FY25 over Q3 FY24.
Yahoo
21-02-2025
- Business
- Yahoo
'Remarkable efforts:' Baltimore Street project earns recognition
CUMBERLAND — The Cumberland Economic Development Corp. will receive the Transformative Economic Development Award for the Baltimore Street Redevelopment Project at the Maryland Economic Development Awards Banquet in April. 'This revitalization has reshaped the city, reducing vacant buildings, attracting private investment, boosting the tax base by millions and creating a vibrant space for residents, workers and visitors,' MEDA said in a release. The $17.2 million project, which began in March 2023 and was finished in November, created new underground infrastructure and replaced a pedestrian mall with a single-lane street for car and bicycle traffic. 'We remain most proud of our efforts on this project and are most pleased to be recognized with this statewide award for Transformative Economic Development project,' said Matt Miller, executive director of the CEDC. In the release, the MEDA said it would recognize the 'remarkable efforts to redevelop historically significant buildings along Baltimore Street in Cumberland that had long sat vacant.' 'Over a decade of strategic planning, sourcing grants through strong partners at all levels of government, and lots of hard work by Executive Director Matt Miller and team led to this recognition and to the completion of this transformative project,' Jonathan Hutcherson, CEDC board chairman, said. In the Small Community category, Make It. In The Mountains, a collaboration between Allegany and Garrett counties and the Maryland Department of Commerce will receive recognition for its focused campaign to attract and retain businesses in sectors such as apparel, outdoor vehicles, timber and specialty foods. The campaign, which reached over 54,800 unique digital interactions, aims to enhance the region's economic profile and foster sustainable growth by targeting businesses with the highest potential for success, minimizing risks and maximizing resources. The programs will be recognized during a banquet at MEDA's annual conference April 28 at the Hyatt Regency in Cambridge.
