It could be the next big thing in Gurgaon. One of the country’s most important IT services hubs, the Gurgaon district of Haryana is set to house a Global City, potentially another big services centre, to be developed as a part of the ambitious Delhi-Mumbai Industrial Corridor (DMIC). Apart from services industries, the proposed City will house residential and other utilities, as well.
The Haryana government has already acquired 1,100 acres of land for the development of the City at Garhi-Harsaru areas in Gurgaon district, Alkesh Kumar Sharma, the chief executive of the DMIC Development Corporation (DMICDC), told FE.
While the state government will soon submit the details of its cost of land acquisition, it is expected to be around `2,200 crore. According to the plan, the centre will match the state’s contribution (which is mainly in the form of land) towards developing the City and release its share of funds through the DMIC Trust, Sharma said. Already, a special purpose vehicle has been created in which both the DMIC Trust (through which the centre releases funds for various DMIC projects) and the Haryana government are equal partners, having 50% each.
“The master planning for the City will be completed by November. By December, we will start other work, and maybe, by the middle of the next year, we should be able to bid out (for projects within the city),” Sharma said.
While the details of the project will be out once the master planning is over, the latest concept paper, firmed up by the DMICDC, says the Global City Project “is to be planned with financial/business centre as an integral part and growth driver” for the city and the state.
“The city would thrive on world class infrastructure backbone, built on smart city concept by integrating water, power, and connectivity to integration of IT services in managing various public utilities of the area. The city would not only add to the economy of the state but also help in generating skilled development,” adds the concept paper.
It also said this would be developed as a model future city, taking into account the best international practices for development, implementation, maintenance and management. With an envisaged investment of $90-100 billion by 2040, the 1504-km DMIC across six states was intended to be developed as a ‘global manufacturing and trading hub’. The Centre has committed $4.5 billion for the first phase of the DMIC projects. DMIC is touted as the world’s single-largest infrastructure project. The project was one of the important measures announced by the government to help drive the share of manufacturing in the country’s GDP to 25% by 2022 from roughly 16% now.