NMC finds firm to build Metro Mall to earn Rs 10 cr additional revenue
The mall, which was on the Phase-I plan of the Orange City Street project, will also be a public-private partnership project.
Nagpur: After a delay of 2 years now Metro Mall is well set to become a reality. Because the Nagpur Municipal Corporation (NMC) on Thursday finalized a bidder. Which has fully agreed to pay around Rs 10 crore more than the bid amount of about Rs 45 crore.
Well confirming this, the municipal commissioner named Radhakrishnan B. He has informed that Nagpur Municipal Corporation (NMC) had floated tenders for the appointment of a private agency to undertake the construction of 8 floors including a multiplex with a shopping mall, restaurant, and roof top eatery.
The mall, which was on the Phase-I plan of the Orange City Street project, will also be a public-private partnership project. The Nagpur Municipal Corporation (NMC) had issued the tender in the time of October 2019.
The Nagpur Municipal Corporation had fixed a base price of around Rs 45 crore for about 35,000 sqm of land. Where this mall will be built.
Showed Interest in the Project
Executive Engineer (Project) Naresh Borkar has said that there were 4 bidders. Among them, we have got Prafulla Veda Infrastructure Company Limited. who have shown their interest in this project. and has agreed to pay around Rs 55 crore to Nagpur Municipal Corporation.
Nagpur Municipal Corporation (NMC) had signed a Memorandum of Understanding (MoU) with MahaMetro for the mall on the date of 20th December 2018. It was supposed to complete the project in about 18 months.
The Nagpur Municipal Corporation had already estimated the cost of the project to be around Rs 40 crore. With the appointment of Mahametro to execute the project, its cost has increased and has increased to about Rs 55 crore.
The Nagpur Municipal Corporation (NMC) had also paid around Rs 11 crore as part payment to MahaMetro. Metro started its construction and completed it till the plinth level.
The civic chief has said that once the mall is completed, the Orange City Street project will definitely get a boost.
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