The Centre plans to develop 240 acres of land at Ghitorni district in south Delhi with smart city features worth over Rs 15,000 crore.
A proposal in this regard is at an advance stage of consideration at the Ministry of Urban Development (UD), sources said.
The 240 acres of land belonging to Central Public Works Department (CPWD), which functions under the UD ministry, has been lying vacant at Ghitorni since 1971.
Sources say that the project, estimated to cost over Rs 15,000 crore, is proposed to be jointly developed by CPWD and state-run construction firm NBCC on self-financing basis with no cost to the government. As part of the project, the CPWD will construct about 6,500 residential units for government employees, besides developing office space for public sector firms.
On the other hand, NBCC would construct about 500 houses and develop substantial office and commercial space for sale to mobilise resources for financing the project.