+
NDMC to Build Two Commercial Complexes in Delhi
Real Estate

NDMC to Build Two Commercial Complexes in Delhi

The New Delhi Municipal Council (NDMC) has prepared a plan to develop two commercial complexes to enhance its infrastructure and utilize vacant sites for increased revenue generation. These complexes will be located opposite Prithviraj Market and at a vacant plot adjoining Akbar Bhawan in Chanakyapuri.

NDMC Chairman Keshav Chandra announced the projects in the budget proposals for the financial year 2025-26.

The NDMC owns single-storey vacant flats opposite Prithviraj Market and next to Lok Nayak Bhawan, which were previously occupied by NDMC employees. The chairman explained that the commercialisation project for this complex involves demolishing the entire area and redeveloping the space for offices and shops. He stated that demolition work is expected to begin by March 2025.

An NDMC official provided further details, stating that the complex would be developed similarly to Lok Nayak Bhawan, with at least eight storeys. The ground floor would have retail spaces, while the upper floors would house offices. The total built-up area will be around 1 lakh square feet, with 18-20 per cent allocated for retail and the remainder for offices. The design, feasibility study, and tendering for the project are expected to be completed in this financial year, with work scheduled to begin in the next financial year once the plan is approved in the council meeting. The council is currently focused on the architecture and design of the commercial centre.

Additionally, the official mentioned that the open parking area for Khan Market and Prithviraj Market might be repurposed to develop an underground multi-level parking facility.

Regarding the second project, for a multi-storey commercial complex in front of Akbar Bhawan, the council had earlier invited tenders for the construction of a multi-storey office complex with four basements and ten storeys. However, the tendering process was delayed due to litigation in the Delhi High Court. The official noted that the case has now been resolved, and the detailed estimate is being revised for further processing. Since the initial plan was developed four years ago, the revised plan might result in cost escalations. The official added that they expect to proceed with the tender process for the project within the next six months.

The New Delhi Municipal Council (NDMC) has prepared a plan to develop two commercial complexes to enhance its infrastructure and utilize vacant sites for increased revenue generation. These complexes will be located opposite Prithviraj Market and at a vacant plot adjoining Akbar Bhawan in Chanakyapuri. NDMC Chairman Keshav Chandra announced the projects in the budget proposals for the financial year 2025-26. The NDMC owns single-storey vacant flats opposite Prithviraj Market and next to Lok Nayak Bhawan, which were previously occupied by NDMC employees. The chairman explained that the commercialisation project for this complex involves demolishing the entire area and redeveloping the space for offices and shops. He stated that demolition work is expected to begin by March 2025. An NDMC official provided further details, stating that the complex would be developed similarly to Lok Nayak Bhawan, with at least eight storeys. The ground floor would have retail spaces, while the upper floors would house offices. The total built-up area will be around 1 lakh square feet, with 18-20 per cent allocated for retail and the remainder for offices. The design, feasibility study, and tendering for the project are expected to be completed in this financial year, with work scheduled to begin in the next financial year once the plan is approved in the council meeting. The council is currently focused on the architecture and design of the commercial centre. Additionally, the official mentioned that the open parking area for Khan Market and Prithviraj Market might be repurposed to develop an underground multi-level parking facility. Regarding the second project, for a multi-storey commercial complex in front of Akbar Bhawan, the council had earlier invited tenders for the construction of a multi-storey office complex with four basements and ten storeys. However, the tendering process was delayed due to litigation in the Delhi High Court. The official noted that the case has now been resolved, and the detailed estimate is being revised for further processing. Since the initial plan was developed four years ago, the revised plan might result in cost escalations. The official added that they expect to proceed with the tender process for the project within the next six months.

Related Stories

Gold Stories

Next Story
Infrastructure Transport

Mumbai-Ahmedabad Bullet Train’s Surat-Vapi Section Set for 2027

The first section of the Mumbai-Ahmedabad Bullet Train corridor, linking Surat and Vapi, is targeted to begin services in 2027. Construction is expected to be completed by December 2026, while Railway Minister Ashwini Vaishnaw has indicated that an inauguration could take place around the middle of 2027. The National High Speed Rail Corporation (NHSRCL) said the train being manufactured in India is expected to reach the tracks around April or May 2027. The train will undergo extensive testing before the section is opened for passenger services. The project began construction in 2021 and includ..

Next Story
Infrastructure Transport

Indian Railways Approves Four Projects Worth Rs. 7.36 bn Across Four States

Indian Railways has approved four projects with a combined value of Rs. 7.36 bn across Uttar Pradesh, Maharashtra, Andhra Pradesh and Gujarat. The programme covers train protection, signalling, electric traction supply and a road overbridge, with each project assigned to a different railway zone. In Uttar Pradesh, Rs. 2.52 bn has been approved to extend the Kavach 4.0 automatic train protection system across 607.7 km in the Lucknow Division of North Eastern Railway. The system monitors train movements and can apply the brakes if a driver fails to observe a signal or exceeds a safe speed. The w..

Next Story
Infrastructure Urban

Chandru Raheja Sells 1.49% Stake in Mindspace REIT for Rs. 5 bn

Billionaire Chandru Lachmandas Raheja has sold a 1.49 per cent holding in Mindspace Business Parks REIT for Rs. 5 bn through a bulk deal on the BSE. The transaction involved 9.9 mn units and was executed at an average price of Rs. 505 per unit, according to exchange data. Following the sale, units of Mindspace Business Parks REIT were trading 0.18 per cent lower at Rs. 504.05 on Tuesday. Exchange data did not identify the buyers involved in the transaction. Raheja is the chairman of real estate company K Raheja Corp. The sale involved 99,00,990 units, representing 1.49 per cent of the Mumbai-b..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code