Nagpur Municipal Corporation’s (NMC) ambitious and long-pending project of 11 years, London Street is now renamed as ‘Orange City Street’. The name change has brought about certain luck on the project which looks ready to take off finally. The street will begin its making with the construction of one mall and two hospitals. NMC has decided to build these building by themselves and then lease the units out.
On Monday, ruling party leader Sandip Joshi and standing committee chairman Virendra Kukreja declared that the project will go on floors from August.
According to Naresh Borkar, the executive engineer (projects), the Orange City Mall will be constructed near Jaiprakash Nagar Metro Station, while the two hospitals will be in Bhamti.
“Mall will have direct connectivity with Metro Rail Station. MahaMetro has given its clearance. One of the two hospital towers will be allotted to a 200-bed hospital and while the other will be given different medical institutions and doctors for setting up hospitals, clinics etc,” he said.
NMC had previously given the project to a private operator who was given a land of 31.15 hectares for developing the project at their own cost, selling the units and paying a premium to NMC. But the model received no takers as the estimated cost of the project was Rs. 5,700 crore. NMC then had to divide the project into 10 different parts and have taken it upon themselves to construct all the parts and then sell it.
The to-be-constructed-mall will be the first ever to have a pick and drop facility from the ground floor. It will also have a parking of a two-layer basement. While the first four floors will be given out for commercial purposes, the top two floors will be given for office purpose. The fourth floor will be connected to the Jaiprakash Nagar Metro Station. The total cost of the project is said to be Rs. 100 crores.
The metro station’s land is owned by NMC and will be a part of the project. The Wardha Road land will be leased out to MahaMetro for the station. The two hospitals in the proposed plan are also stated to cost Rs. 100 crores. NMC will resort to loaning out the funding amount for construction and repaying the same with the project revenue.
The project is said to become Nagpur’s biggest landmark after the construction of the remaining eight parts.
Information source: timesofindia
Title image source: openarchitekci