Surat: Battered by the pandemic last year, the Diamond City is hoping for a brighter future riding on three projects that are already refuelling the city’s growth. The Diamond Research and Mercantile (DREAM) City, Tapi Riverfront Development (TRD) and Multi Modal Transport Hub will prove to be game changers, civic body officials claim.
The city has already started retelling its fortune story with the development of Surat Diamond Bourse (SDB) in DREAM City. “Many diamond industry workers in Mumbai are looking for residential properties in Surat to shift in the future. It is a major project that will give a big boost to the city’s economy,” municipal commissioner, Banchhanidhi Pani told TOI.
Investment to the tune of Rs 30,000 crore is expected to be pumped into developing DREAM City on 685 hectare land. Office space of Rs 6.6 million squarefeet will be created at the SDB. “DREAM City, MMTH and TRD will define the city’s growth,” Pani reiterated.
Meanwhile, Rs 1,236 crore investment is estimated for the first phase of TRD project, while Rs 2,668 investment is estimated for the second phase. At present, while a feasibility study is going on, SMC will form an SPV for the project. City planners are hoping to create a huge space for recreational activities at the TRD and its development will give the city’s economy a desired fillip.
The SMC has allocated Rs 50 lakh to plan and design MMTH around the Surat railway station. Simultaneously, the government aims to develop the first phase of metro rail network at a cost of Rs 12,020 crore. Total two corridors — Sarthana to DREAM City (21.61 km) and Bhesan to Saroli (18.74 km) — of metro network are being developed in the first phase.
“The minimum average time required to commute in the city is 17 minutes, which is the lowest in the country compared to a city of this size. We already have that advantage and if we develop MMTH, Metro, BRTS and city bus network we will be able to provide the best commuting facilities to the citizens which will attract even more investment,” Pani added.