1,100 Acres Of Vacant, Encroached BHEL Land To Be Monetised In Phases, City Forest Also Planned In Bhopal
Bhopal (Madhya Pradesh): The monetisation of around 1,100 acre of vacant and encroached BHEL land in Bhopal will be carried out in phases, according to a decision taken at a recent high-level meeting convened by the urban department. It was also decided that a nominated institute will work in an integrated manner right from the project draft till its final implementation and monetisation. As the…
Bhopal, Madhya Pradesh: In a recent high-level meeting, it was decided to monetize approximately 1,100 acres of vacant and encroached land belonging to Bharat Heavy Electricals Limited (BHEL) in phases. The urban department spearheaded the meeting, chaired by additional chief secretary Sanjay Dubey. BHEL's chief managing director, K Sadashiv Murli, as well as BHEL New Delhi's executive director M Shridhar and BHEL Bhopal's executive director PK Upadhyay, were also present.
The process will be undertaken by an integrated institute from the initial project draft to final implementation and monetization. Notably, one section of the urban land will be converted into a city forest. Half of the revenue from the land monetization will be allocated to BHEL, while the other half will go to the state government.
The urban administration department holds full authority over land use, floor area ratio, and land industry to ensure maximum income generation. The project requires state government and Ministry of Urban Development and Housing approval. The land earmarked for monetization will be transferred to a Special Purpose Vehicle (SPV), facilitating the planning and implementation of development projects.
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