CP counts its losses
They consoled themselves in the hope that once it's over everything will fall in place.delhi Updated: Oct 11, 2010 00:03 IST
They consoled themselves in the hope that once it's over everything will fall in place.
But traders from Connaught Place, who have been facing huge losses since the restoration work in the central business district began in June 2009, said things have only become worse.
The traders had hoped to do good business during the Commonwealth Games period. But instead, they said, they would take the next two years to make up for the losses suffered during this period.
The latest move that has irked the traders is closing of their shops for three days since the Games began.
They claimed that there has been no increase in their revenue even during the Games period. The traders were hoping that many foreign tourists would come during the Games.
"The footfalls have increased after the restoration work but there has been no significant increase due to the Commonwealth Games. We were treating the Games as a festival of a kind but we are hugely disappointed," said Atul Bhargava, president of New Delhi Traders' Association.
According to traders, in the last 15 months while the restoration work was underway in Connaught Place, revenue generation came down to R624.75 crore.
During the 15 months prior to the work, revenue of R1308.75 crore was generated. The restoration work, according to them, has cost them around R684 crore.
Unfortunately for the traders the trouble isn't over yet.
After the Commonwealth Games are over, the New Delhi Municipal Council (NDMC) will start work on eight Outer Circle subways and the service corridor in the Middle Circle again.
According to the civic agency, the work is expected to continue till December 2011.
"We are hoping this time around they will take the traders in confidence before starting the work. We had a meeting with the NDMC officials and they have assured us that they will discuss the plan with us," said Vinay Narang, a trader from CP. Traders fear for more losses because of this.
The business district was once again shut on Sunday with traders complaining that the police forced them to down shutters due to the cycling event.
Traders of Chandni Chowk have also been complaining that due to frequent closure of the market because of the Games, their sales have been hit by 50 per cent.