a. whether the Government is planning for land acquisition for construction of National Highways and Bypass or Ring Roads through the Value Capture Finance Model and Land Monetization Model;
b. if so, the details thereof;
c. the salient features of both these models; and
d. the details of campanies/organization which have come forward to participate in these models for the purpose in the country particularly in Karnataka?
THE MINISTER OF ROAD TRANSPORT AND HIGHWAYS
(SHRI NITIN JAIRAM GADKARI)
(a) To (c) The Value Capture Finance Model is not employed solely for land acquisition for construction of National Highways and Bypass or Ring Roads. However, the National Highways Authority of India vide its circular dated 18.03.2021 has issued a policy regarding Value Capture Finance (VCF) Model in National Highways development with a view to share the cost of Project with respective State Government/ UT. Some of the salient features/ details of VCF policy are as under:
i. Project facilitation by State/ UT Government;
ii. Contribution through land;
iii. Waiving/ refunding of royalty/ taxes etc.
iv. Sharing the enhanced value of land in the Project impact area;
v. Exploring the possibility of development of residential/ commercial real estate in the project impact zone for which connectivity to the highway/ service road may be provided by NHAI.
Further, the revenue generated from monetization of roads is utilized for development, maintenance, management of National Highways (NHs), repayment of loan etc.
(d) The details of State Governments including Karnataka, who have agreed to participate in the VCF model are at Annexure.