Commonwealth Games – Acting Catalyst for Realty Development in NCR

December 12, 2006	(Be the first to rate this story!)  Loading ...
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Commonwealth Games is the biggest event going to host by Lutyen’s Delhi during 3-14 October, 2010. Indeed, the real estate sector of the country has not remained untouched by frenzy of the occasion. The National Capital Region has geared up to witness exponential growth in the run up to the Commonwealth Games.

Efforts are being made to develop the Delhi Games Village in the heart of the capital city. It is to be constructed on a 40 acre site with a possible capacity for 8,500 athletes as well as officials.

The stadia will be used to house the following sports: archery, aquatics, athletics, badminton, boxing, cycling, EAD events, gymnastics, hockey, lawn bowls, netball, rugby-7s, shooting, squash, table tennis, lawn tennis, weightlifting and wrestling.

As such, no proposal has yet been passed to construct a new stadium. For that reason, it is decide to upgrade the existing ones. However, there are plans for building several new hotels to meet the shortfall in hotel room capacity. Both the government and real estate developers are chalking out different plans to meet the budding demands of the sporting events.

Also, more plans are being drawn out to add to development of the existing civic amenities and public transportation, especially the metro lines. More and more realty development will take place in the NCR region to fulfill the challenge.

However, not everybody hold positive view point towards these upcoming real estate projects. Taking up the hotel development only in the NCR to meet the shortage of 1.5 lakh hotel rooms in the country does not make any logic.

Although, building huge infrastructure for the games will add to development of the nation but such a mega event can have huge effects and leave negative legacies behind until every developed asset is effectively absorbed by the city, says Prof K. T. Ravindran, Dean of Studies, School of Planning & Architecture.

He also suggested taking lessons from Athens Olympics, where the drive of the related development was to develop and maintain ongoing culture-specific infrastructure and build viable public-private partnerships.

News Published Under:   Real Estate India, Delhi |

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