After the EFC meeting, Chief Minister Sheila Dikshit, who also holds the Finance portfolio, said the city government has finalised an ambitious road infrastructure development programme which will cost Rs2,000 crore.
"The mega project will be completed within next two years," she said.
Out of the 31 projects cleared by the EFC, 27 are PWD projects while the rest four were submitted by Irrigation and Flood Control department.
She the EFC cleared improvement of 26 roads at an estimated cost of Rs492 crore while Rs58 crore has been sanctioned for strengthening the Mehrauli-Mahipalpur Road from Andheria More to Masood Pur.
Officials said the each of the road development project will include widening of existing roads from four to eight lane, strengthening of existing road, improvement of footpath and drains, providing modern retro reflective road signage and the streetlighting.
The contractors will have to maintain the roads for a period of five years.
All the 26 roads were part of 674 roads which were taken over from municipal corporations by Delhi Government in December last year.
Not satisfied with MCD's maintenance of the roads, the government had taken over 674 streets with a total length of 802 km from it.
The total length of road network in the city is more than 31,000 km, out of which MCD maintains around 27,000 km.
The EFC has also approved four projects of Irrigation and Flood Control Department.