The city will be developed as a part of the Delhi-Mumbai Industrial Corridor (DMIC) and serve as another big services centre. Apart from services industries, the proposed City will house residential and other utilities too.
The Haryana government has already acquired 1,100 acres of land for the development of the City at Garhi-Harsaru areas in Gurgaon district. This land acquisition is expected to be around 2,200 crores.
According to the plan, the Centre will match the State’s contribution (which is mainly in the form of land) towards developing the City and release its share of funds through the DMIC Trust. Already, a special purpose vehicle has been created in which both the DMIC Trust (through which the centre releases funds for various DMIC projects) and the Haryana government are equal partners, having 50% each.
The master planning for the Global City is expected to be complete by November. This would be developed as a model future city, taking into account the best international practices for development and implementation.
The city would not only add to the economy of the state but also help in generating skilled development, maintenance and management.