SRINAGAR: Jammu and Kashmir government has approved three major urban development projects with a combined base cost of Rs 2,692.58 crore under the Government of India’s Urban Challenge Fund (UCF), aimed at driving investment-led and sustainable urban development in Jammu, Srinagar and Katra.
The approvals were granted by the Union Territory Level High Powered Steering Committee (UTHPSC), chaired by Chief Secretary Atal Dulloo, during a meeting attended by senior officers of the administration.
The three projects are TARANG (Tawi Area Regeneration and Green Growth) in Jammu, Walled City and Nigeen Lakefront Revitalisation in Srinagar and KRIPA (Katra Revitalisation Through Integrated Pilgrimage Amenities) in Reasi.
The projects have been designed to combine government funding with market-linked financing and private participation, with the aim of mobilising additional institutional, municipal and private capital for large-scale urban infrastructure.
The largest of the three projects is TARANG, estimated at Rs 1,567.91 crore, which will focus on comprehensive regeneration of the Tawi riverfront and adjoining urban areas.
Under its proposed funding structure, Rs 307.05 crore each will come from the Government of India and the UT Government, while Rs 953.81 crore is proposed to be raised through market and public-private partnership (PPP) financing.
The PPP component will include a high-end residential group housing project, an upscale hotel, a retail mall and associated Left Bank road infrastructure. A luxury resort is also proposed on the Central Island.
The project includes structural and river-protection works such as a diaphragm wall, embankment filling, retaining walls with anchor slabs and interceptor drainage infrastructure.
The Walled City and Nigeen Lakefront Revitalisation project in Srinagar carries an estimated cost of Rs 1,010.77 crore and is aimed at rejuvenating the historic urban core and developing the economic potential of lakefront areas within the old city.
Around Rs 300.77 crore is proposed for core public infrastructure and revitalisation of the historic city. Its PPP component includes a Hospitality Centre, Pokribal Lakefront and a premium five-star boutique hotel.
The third project, KRIPA, has an estimated cost of Rs 113.90 crore and is intended to improve pilgrim facilities, mobility management and institutional infrastructure in Katra.
A key component of the project is the Katra Gateway Centre, proposed as a 5+2-floor mixed-use facility on a 10.17-kanal site, with approximately 1.39 lakh square feet of built-up area.
The centre will have 480 pilgrim beds across 36 dormitories, along with 35 guest rooms, retail outlets, a community dining hall and dedicated prayer spaces.
The project also proposes a multi-level car park with capacity for 365 Equivalent Car Spaces, EV charging facilities and dedicated bus bays near the Yatra Parchi Counter to address parking and traffic congestion.
An additional Rs 15.25 crore has been earmarked for institutional remodelling, including commercial office space, retail kiosks and upgraded administrative facilities for the Municipal Committee, Katra.
The UCF framework seeks to promote bankable and investment-ready urban projects by combining public funding with market-based financing and private investment.
The committee also stressed timely execution, quality standards and financial sustainability of the approved projects, which are expected to strengthen urban infrastructure, mobility and tourism while creating additional public spaces and investment opportunities in Jammu, Srinagar and Katra.
