Urban Development Ministry to push dense urban growth along mass transit corridors for better living experience
Transit Oriented Development will be financed by channelizing a part of increases in property values resulting from investments in transit corridors through Betterment Levies and Value Capture Financing tools. Increased private sector participation will result in economic development and employment generation.
The Policy also aims at inclusive development by ensuring mixed neighbourhood development in the form of a range of housing choices including affordable housing and ensuring spaces for street vendors.
States and UTs will be required to incorporate TOD in the Master Plans and Development Plans of cities besides identifying ‘Influence Zones’ from transit corridors for tapping revenue streams.
TOD is being taken up Ahmedabad, Delhi(kakardooma), Naya Raipur, Nagpur and Navi Mumbai and the Ministry would like this to be expanded to other cities as well.
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