NEW DELHI, June 26: Delhi Development Authority (DDA) today signed an agreement with state-run National Buildings Construction Corporation (NBCC), seeking to begin work on the Lake View redevelopment project in east Delhi, and also announced its twin projects of transforming Dwarka into a smart sub-city and setting up a first-of-its- kind adventure cycle park in the city. DDA Vice-Chairman Balvinder Kumar and NBCC Chairman-cum-Managing Director Anoop Kumar Mittal signed a Memorandum of Understanding (MoU) here paving way for the over 10 hectare land to be developed into a residential-cum-commercial complex based on transit-oriented-development (TOD) norms. "As per our plan, we will start with designing of the Lake View Complex and in the next 5-6 months, work is expected start on the ground. In about next three years, the project is likely to be completed, Mittal told reporters. TOD norms encourage development around a transport hub and calls for greater use of public transport system over private vehicles. The complex will have residential, commercial and corporate areas and NBCC will execute the project. The Sanjay Lake will also be adopted and rejuvenated by it, Kumar said. It will have mixed land-use development projects like old-age homes, recreational, sports, residential and commercial facilities, among others, Kumar said. The complex will be marked out by twin signature towers of at least 50-60 storeys, he said. Under the project the Sanjay Lake will also be beautified, rejuvenated by increasing its depth and improving water recharge and cleaning. A unique feature of the project will be the visual integration with the Sanjay Lake. The western periphery of the complex, overlooking the Sanjay Park will be developed as a lake-front promenade, equipped with walking and cycling track as well as plazas, eateries and skywalks, he said. Besides, the DDA today also announced that an adventure cycle park will be set up on 10 hectare of green forested land in Dwarka's Sector 5, which would be completed in the next 1.5 years. Terming the 'Adventure Cycle Park' as a unique project in the country, Kumar said, the entire land will be developed without cutting any trees. It will have a 2 km-long mountain terrain for biking for adventure sports lovers. Besides, the Park will also have a cycle studio, where people can create new cycle designs. A cycle museum, cycling boutique, children zone, cycle circuit, cycle cafe would also be part of the project. "The land is in DDA possession and the work on the 'Adventure Cycle Park' is expected to begin in 1-2 months," he said. The project for transformation of Dwarka into a 'Smart Sub-city' will have at its centrestage a 'Dwarka Central Hub' comprising entertainment, eco-recreational and business hubs. DDA has planned to develop a Dwarka Business Centre along the metro corridor to serve as a financial hub, Kumar said. It will also have residential facilities. The sub-city will be developed into a smart city on the basis of TOD norms, allowing the flexibility to leave ample public spaces for facilities like food courts and cafes. The vision of the hub is to provide a self-sustainable workspace conducive to the needs of corporate professionals, mobile workforce and entrepreneurs. The hub will provide opportunities such as home office facilities for corporates, starter-office facilities for entrepreneurs, modular plug-in office facilities for corporates, a senior DDA official said. TOD norms in partnership with NBCC envisages to enhance local economy and instill a social pride in the larger Trilokpuri, Kalyanpuri and Mayur Vihar communities in the area. NBCC will adopt the Sanjay Lake Park for maintenance, upkeep and ecological upgradation, under the DDA's 'adopt a park' policy, DDA said. NBCC also said, it will also hire a consultant for the project. The DDA said that the 'Adventure Cycle Park' will be anchor for its three future projects, namely, Dwarka walking/cycling track network, Dwarka cycle sharing scheme and greenway corridor. The TOD-based mixed-use development being proposed in these hubs will provide flexibility in use and development norms. A variety of shared relaxation spaces within the courtyard buildings such as amphitheatres, tennis courts and swimming fools, community gardens in addition to zero (waste) discharge will be salient features of the upgraded city, DDA said