The Centre will come out with a new Metro Rail policy for future projects, in line with the government-approved National Policy on Transit Oriented Development (TOD), Union minister M Venkaiah Naidu said here today.
“The Centre is formulating a new Metro Rail policy to enable innovative finance such as land value capture, transit- oriented development for new Metro Rail projects,” he said.
Besides the new metro policy, a National Policy on Transit Oriented Development (TOD) has been formulated and approved by the Union government, he said.
This will form a mandatory requirement for all new metro projects in the country, Naidu said.
The minister made the remarks after flagging off the first underground Metro Rail service from Tirumangalam to Nehru Park here, in the presence of Tamil Nadu Chief Minister K Palaniswami.