Mr Buddhadeb Bhattacharjee, said the State
Government was already working with the Kolkata Municipal
Corporation (KMC) to convert the New Market area into
a pucca Heritage Square-cum-pedestrian plaza.
Simplex Projects Ltd, the private partner in collaboration
with KMC, has executed the Rs 34-crore BoT project, which
will rest on a revenue-sharing model between the two parties.
As per the arrangement, Simplex has been allowed to create
an underground shopping plaza (at the minus one level)
having 180 stalls. The premium amount from the settlement
of these shops will go to Simplex, while KMC will get
to keep the regular annual rent from the shops. KMC will
also get 5 per cent of the parking fees collected annually.
Provisional NoC from the West Bengal Fire Department
has already been obtained for the parking project, and
a fire safety clearance certificate for the shopping mall
is expected within the next fortnight. While the parking
facility is expected to start operations straightaway,
the mall is expected to be operational only after receipt
of the certificate.
Mr Bhattacharjee said the KMC has spent a tidy sum to
undertake some urgent repairs, besides refurbishment of
the New Market. He said the neighbourhood roads will be
upgraded and some aesthetic urban planning was being taken
up for further restoration of the heritage area.
According to Mr Bikash Bhattacharya, City Mayor, the
automated car-parking project with interesting engineering
characteristics has triggered an urban renewal in the
New Market neighbourhood, providing further scope to the
urban planners to restore (and add value) to the area. |
