Pending for 7 yrs, NMC now plans to develop Rs94cr Budhwar Bazar on its own

Nagpur: Proposed seven years ago on build-operate and transfer (BOT) basis, the Nagpur Municipal Corporation (NMC) now plans to develop shopping complex in Budhwar Bazar, Mahal, at an estimated cost of Rs94.56 crore on its own.
The standing committee headed by Virendra Kukreja will take a decision on the proposal in the meeting organized on Thursday. The projects department has sought the standing committee’s permission to approve Rs94.56 crore funds for the project.

BJP corporator Dayashankar Tiwari had proposed the project during his tenure as standing committee chairman in 2012. Therefore, it is expected that the standing committee would approve the project despite fund crunch being faced by the NMC.

All these seven years, the NMC had not received any response from private players for developing the project on BOT model.

Now, the plan is to recover entire project cost by selling out commercial shops, halls etc. The project will come up on 6,187.55 sq.mt in prime location land that is situated on Kelibag Road. Existing leaseholders of NMC shops will be given commercial space of 2,300 sq.mt in the project. Plan is to sell remaining commercial shops and spaces of 10,000 sq.mt for recovery of the entire expenditure.

The proposal also includes appointing architect Ashok Mokha as project management consultant. Earlier, Lets Build Associates was project management consultant.

During last decade, the NMC had proposed nine shopping malls on various models. Only one at Jaripatka could be completed.

Another proposal is to approve Rs 46.36 crore for acquiring 21,490 sq.mt land reserved for market at mouza Chinchbhuvan. The land is under the possession of Appaswami Infrastructure that has served notice to the NMC for acquisition of the land.

In all 53 more proposals will come for discussion before the standing committee including asphalting of road from Central Avenue to Geetanjali Square, Ganesh Square to Gandhisagar Lake at a cost of Rs3.75 crore. The state government has approved funds for the works.