+
Chalai Market Revamp May Get Boost From Urban Challenge Scheme
ECONOMY & POLICY

Chalai Market Revamp May Get Boost From Urban Challenge Scheme

The long-delayed redevelopment of Thiruvananthapuram’s historic Chalai market could soon gather momentum, as the Kerala government seeks funding under the Union government’s newly launched Urban Challenge Scheme. Authorities aim to secure one-third of the project’s estimated Rs 2 billion cost through this Central initiative, recently introduced in the Union Budget.

Spearheaded by Smart City Thiruvananthapuram Ltd (SCTL), the redevelopment is planned in four phases. Phase I, which involves upgrading the internal road network, is nearing completion. However, financial constraints have stalled subsequent phases.

“We’ve been exploring funding avenues, and the Centre has responded favourably. Discussions are at an advanced stage, and we are optimistic about receiving support,” said an official. A notable feature of the upgrade will be the installation of umbrella-style covers along the market’s main thoroughfare.

The project was adopted in 2022 as a contingency measure when other redevelopment efforts—such as the Palayam market and Rajaji Nagar upgrades—faced delays. To avoid forfeiting already sanctioned funds, authorities pivoted towards Chalai. However, as the original projects resumed, funding for Chalai became limited, prompting a fresh search for financial backing.

SCTL has already spent around Rs 150 million upgrading internal roads, with the final cost of Phase I expected to reach Rs 300 million. Work on the main arterial stretch is set to begin shortly. Another central component of the project is a proposed multi-level car park on corporation-owned land within the market area.

The state hopes that funding under the Urban Challenge Scheme will ensure steady progress, helping to restore one of the city’s oldest and most vibrant commercial hubs while easing congestion and enhancing infrastructure.

The long-delayed redevelopment of Thiruvananthapuram’s historic Chalai market could soon gather momentum, as the Kerala government seeks funding under the Union government’s newly launched Urban Challenge Scheme. Authorities aim to secure one-third of the project’s estimated Rs 2 billion cost through this Central initiative, recently introduced in the Union Budget.Spearheaded by Smart City Thiruvananthapuram Ltd (SCTL), the redevelopment is planned in four phases. Phase I, which involves upgrading the internal road network, is nearing completion. However, financial constraints have stalled subsequent phases.“We’ve been exploring funding avenues, and the Centre has responded favourably. Discussions are at an advanced stage, and we are optimistic about receiving support,” said an official. A notable feature of the upgrade will be the installation of umbrella-style covers along the market’s main thoroughfare.The project was adopted in 2022 as a contingency measure when other redevelopment efforts—such as the Palayam market and Rajaji Nagar upgrades—faced delays. To avoid forfeiting already sanctioned funds, authorities pivoted towards Chalai. However, as the original projects resumed, funding for Chalai became limited, prompting a fresh search for financial backing.SCTL has already spent around Rs 150 million upgrading internal roads, with the final cost of Phase I expected to reach Rs 300 million. Work on the main arterial stretch is set to begin shortly. Another central component of the project is a proposed multi-level car park on corporation-owned land within the market area.The state hopes that funding under the Urban Challenge Scheme will ensure steady progress, helping to restore one of the city’s oldest and most vibrant commercial hubs while easing congestion and enhancing infrastructure.

Next Story
Infrastructure Energy

Bihar Launches Rs 53.4 Billion Green Energy Plan

The Bihar government has taken a major stride towards clean energy with the launch of two new policies and the signing of agreements totalling Rs 53.4 billion. These initiatives aim to generate 2,357 megawatts (MW) of renewable energy through solar, wind, battery storage, and other sustainable technologies.The Bihar Renewable Energy Policy 2025 and the Pump Storage Policy 2025 were officially introduced at an event in Patna. Designed to attract significant investment, the policies seek to position Bihar as a key centre for clean energy projects. Energy Minister Bijendra Prasad Yadav stated tha..

Next Story
Infrastructure Transport

Bids Invited for Rs 62.5 Billion Vizag Metro Project

The long-anticipated Visakhapatnam Metro Project has made significant progress, with the Andhra Pradesh Metro Rail Corporation inviting bids for the first civil contract under Phase 1 of the Vizag Metro. The estimated cost of this contract is Rs 62.5 billion.This engineering, procurement and construction (EPC) contract covers the design and construction of a 46.23 km viaduct spanning three corridors, including a 20.16 km double-decker four-lane flyover cum metro viaduct. The project also comprises 42 elevated metro stations across Visakhapatnam.Recently, SYSTRA Consultancy signed a Memorandum ..

Next Story
Real Estate

Oberoi Realty to Buy Hotel Horizon for Rs 9.19 Billion

A consortium led by Mumbai-listed Oberoi Realty Ltd is set to acquire debt-laden Hotel Horizon Pvt Ltd in Juhu, Mumbai for Rs 9.19 billion (approximately USD 107 million) under a resolution plan approved through India’s Insolvency and Bankruptcy Code (IBC).In a filing to the stock exchange, Oberoi Realty confirmed that the Committee of Creditors of Hotel Horizon had approved the resolution plan, following which a letter of intent was issued. The consortium also includes Shree Naman Developers and JM Financial Properties.As per the resolution plan, the consortium will make a payment of Rs 9.1..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?