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J&K Approves Rs 2,692 Crore Urban Projects Across Three Cities
The Jammu and Kashmir administration approved three large city improvement projects.
They will be built in Jammu, Srinagar and Katra.
Together, the projects are expected to cost Rs 2,692.58 crore.
Some money will come from the government, while other funds will come from private companies and market financing.
Jammu’s project will improve the Tawi riverfront and nearby areas.
Srinagar’s project will focus on the historic Walled City and the Nigeen Lakefront.
Katra’s project will add better facilities for pilgrims and improve movement around the town.
The goal is to create better urban spaces that can also support long-term economic activity.
The J&K administration approved three urban development projects costing Rs 2,692.58 crore for Jammu, Srinagar and Katra.
The projects will use government funding, public-private partnerships and market-based financing under the Centre’s Urban Challenge Fund.
TARANG in Jammu will regenerate the Tawi riverfront and surrounding areas at an estimated cost of Rs 1,567.91 crore.
Srinagar’s Rs 1,010.77-crore project will revitalise the Walled City and Nigeen Lakefront through public infrastructure and hospitality developments.
The Rs 113.90-crore KRIPA project in Katra will improve pilgrim amenities, mobility management and institutional infrastructure.
- Who
- The Jammu and Kashmir administration, through the Union Territory Level High Powered Steering Committee chaired by Chief Secretary Atal Dulloo.
- What
- Approved three urban development projects worth Rs 2,692.58 crore under the Centre’s Urban Challenge Fund.
- Where
- Jammu, Srinagar and Katra in Jammu and Kashmir.
- When
- The approvals were made on Tuesday.
- Why
- To develop modern, sustainable and economically vibrant urban spaces by combining public investment, private participation and market-based financing.
Key facts
- Total approved cost
- Rs 2,692.58 crore
- Funding framework
- Centre’s Urban Challenge Fund
- Jammu project
- TARANG, estimated at Rs 1,567.91 crore
- Srinagar project
- Walled City and Nigeen Lakefront Revitalisation, estimated at Rs 1,010.77 crore
- Katra project
- KRIPA, estimated at Rs 113.90 crore
- Katra Gateway Centre
- Planned as a five-plus-two-storey facility with 480 dormitory beds across 36 dormitories
- Jammu market and PPP financing
- Rs 953.81 crore proposed to be mobilised through market and PPP financing
Sources
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