North Corpn to revamp 38 markets

Multi-storey structures, parking lots on the cards

The North Delhi Municipal Corporation is planning to redevelop at least 38 of its markets into multi-storey structures with basement parking facilities.

The markets being considered for the facelift were under the management of the Land and Development Office and the Directorate of Estates of the Union government. They were transferred to the municipal corporation in 2006.

Of  79 markets transferred to the MCD, 38 fall under the North Corporation’s jurisdiction. In these markets, 2,920 shops are on lease and 1,104 shops are on licence fee basis.

Civic body officials said though the markets are in prime locations, they are very old and are in bad condition. Redeveloping them will not only mean creating more shops, but also generating more revenue for the corporation, the officials said.

“Almost all the markets are in bad shape. It will be better to redevelop them than spending on their maintenance. We are preparing a proposal, which will be finalised soon,” said leader of the House in North Corporation Mahendra Nagpal.

The 38 markets under consideration are situated at important commercial locations in Karol Bagh, Sadar Pharganj and central zones.

They are in commercial hubs like Paharganj, Karol Bagh, Azad Market, Roshanara Road, Patel Nagar, Old and New Rajendra Nagar, Rani Jhansi Market, Desbandhu Gupta Market and Ramesh Nagar, among others.

According to the civic body’s proposal, existing shop owners will get a shop at the newly developed market complexes, and the new ones will be auctioned.

“Since the markets are at different locations, the final blueprint of the kind of shopping complexes, the number of shops and the capacity of creating parking space are being worked out. The final draft will be prepared soon,” said Nagpal.