Punj Lloyd closes financing for Delhi police housing PPP project
Punj Lloyd has announced it will construct a residential complex for the Delhi Police at an estimated cost of Rs 13 billion (US$215 million) at Dheerpur in Delhi. The project, to be developed on public-private partnership (PPP) mode, will have over 5,200 residential units, three schools and some commercial space, and will be maintained by Punj Lloyd for 25 years.
The project is based on Design, Build, Finance, Operate and Transfer (DBFOT) model. It also includes development and commercial operations of the support infrastructure such as schools, healthcare, convenience shopping, as per the norms laid down in the Delhi Master Plan 2021. Punj Lloyd has set up Indraprastha Metropolitan Development Limited, a special purpose vehicle who is the Concessionaire and is responsible for the development of the project.
The project has achieved financial closure and the master layout design has been jointly agreed with Delhi Police. Punj Lloyd has already inaugurated the construction of the project.
The construction of the project is expected to commence soon on receipt of all statutory approvals.
Source: Punj Lloyd
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