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HindustanTimes Mon,22 Sep 2014

Colony markets to be converted into malls

Hamari Jamatia, Hindustan Times  New Delhi, June 13, 2012
First Published: 00:32 IST(13/6/2012) | Last Updated: 00:33 IST(13/6/2012)

Soon, South Delhi residents will have more shopping options. The South Delhi Municipal Corporation (SDMC) has proposed to convert four colony markets into shopping malls, complete with showrooms, eateries and parking slots.

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The corporation has identified four spots — Mehr Chand Market and markets in Vasant Vihar, MB Road and Pushp Vihar — for redevelopment.

All the markets are located in posh areas and will meet the requirements of residents who won't have to travel to far areas for shopping, officials said.

The proposal was discussed at a meeting presided by commissioner Manish Gupta.

Officials said there are 122 shops in South Delhi that are either unoccupied or are in a bad condition. A majority of these shops are located in the four markets.

"Instead of wasting prime land, the corporation plans to utilise the space and build malls," said a senior SDMC official.

After the malls are built, the shops will be rented out after a bidding procedure.

A senior official said the corporation will also survey vacant plots to put them to commercial use or to provide civic amenities.

"Majority of vacant land will be commercially used but a few will be used to construct community halls, parks and municipal schools," said a senior official.

In the four colony markets, most shops are on lease. As the property still belongs to the SDMC, it wants to use it before the properties are converted into freehold.

Earlier, the unified MCD had planned to renovate the markets. But after the split, the SDMC believes turning them into malls will be more beneficial.

"Building malls means more underground parking facilities and more revenue for the corporation," said an official.

The SDMC will survey the four markets and come up with a feasibility report. Approval of shopkeepers will also be taken.


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