New Moti Bagh
| New Moti Bagh | |
|---|---|
| neighbourhood | |
| Country |
 India
|
| State | Delhi |
| District | New Delhi |
| Government | |
| • Body | New Delhi Municipal Corporation |
| Languages | |
| • Official | Hindi, English |
| Time zone | IST (UTC+5:30) |
| PIN | 110021 |
| Lok Sabha constituency | New Delhi |
| Civic agency | New Delhi Municipal Corporation |
New Moti Bagh is a gated, high security, low density, government built luxury residential colony made for the exclusive use of senior civil servants, Judges, and high ranking politicians. New Moti Bagh occupies an area of 143 acres, in the exclusive New Delhi Municipal Council (NDMC) area of New Delhi. It is located in South Delhi, near the Moti bagh, adjoining Chanakyapuri, one Delhi's most expensive areas, where land rates vary from 10 lakhs to 12 lakhs a square yard. “Living in New Moti Bagh” according to senior Government official is "next best thing to living in a Lutyens bungalow”.
To raise funds for construction of New Moti Bagh a three acre parcel of land contiguous to the project was sold to Leela Group, a hotel chain, for Rs 650 crore, or about Rs 216 crores an acre, which works out to about US 35 million dollars an acre at the exchange rate of Rs 62 to a US dollar. At this rate the total land value of the 143 acre New Moti Bagh town ship, called colony in Delhi, at current market rates, works out to about Rupees 31,000 Crores or about 5 billion US Dollars.
Sanction for the project was given by the United Progressive Alliance (UPA) government led by Man Mohan Singh in 2007. Work on the complex started in December of the same year. The project was assigned to the National Buildings Construction Corporation (NBCC), a Government of India undertaking. The work on the project was completed in 2012.
There are a total of 492 residential units in the complex: 116 independent bungalows, and 376 large sized apartments. These residential units are provided to civil servants, police officers, and Judges, based on their pay grades, at a very nominal rent, free of tax, maintenance, security, civic, and other infrastructure liabilities, which are all paid for by the government. The residential complex is popular and has a 99 percent occupancy. All units, and public areas, have power back-up to secure the area against the fickle power situation in Delhi. All units are also provided with solar water heating, assured hot and cold water, high grade floor finishing, and modular kitchens. In addition to the housing for senior civil servants there are 500 units for servants and other service providers, classified as Economical Weaker Section (EWS).
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