- 99.79 crores was the first project
- 150 crore new mall
Nagpur. Tender was invited for the construction of state-of-the-art commercial complex and shopping complex on 6,187 square meter land of Budhwar Bazaar located in the palace. After completing the tender process, M/s SMS Infrastructure Ltd. 99,79,25,721 to the company. Tender was issued in Even in the year 2019, it was given the green signal by the Standing Committee. According to the rules, the company should have started the work in 120 days. But due to the tragedy of Corona and some court cases, the work order process could not be completed.
Meanwhile, now new development control rules have been issued, from which the Assistant Director of Municipal Corporation has issued instructions to prepare a new format. Due to the availability of more space due to the new FSI and more development is possible, now the matter of canceling the old proposal and preparing new proposals is being kept in the meeting of the Municipal Corporation to be held on Tuesday. It is expected to get the green signal.
Now the complex will be 9 storeys
According to the proposal prepared by the Project Department, a 5-storey complex was to be prepared leaving 4 floors from the first floor to the upper ground floor. But now a 9-storey complex has to be prepared except these 4 floors. According to the proposal, earlier construction was possible only on 11,707.46 square meters on the basis of FSI, but according to the new FSI, now the complex can be developed on 24,967 square meters. With this, even though the cost of 99.79 crores was estimated in the old proposal, but now the cost of 150 crores is being projected for the new complex. The project will be completed on the Design Build Finance Operate and Sell (DBFOS) element.