DMRC forays into housing sector

    Delhi Metro Rail Corporation
    Marking its entry in the country’s housing sector, the Delhi Metro Rail Corporation (DMRC) is all set to venture into the residential real estate market and is getting ready to offer over 500 flats in the price range between Rs.60 lakh to Rs.1 crore for sale, said sources, detailing that DMRC has already initiated the process on this front and people will be able to register for flats, which will come up in Janakpuri and Okhla area, in about a month time. Around 460 flats would be built in Janakpuri while 90 in Okhla soon. In this connection, plots have been identified, however, construction work is all set to start shortly. The DMRC will follow the model of Delhi Development Authority (DDA) in selling the apartments, which essentially means allotment will be carried out through a lottery. 15% of the flats, which will be a mix of 2- BHK and 3-BHK, would be reserved for the economically weaker section.
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