In a bid to solve the issue of space crunch in the North-West Delhi, North Delhi Municipal Corporation will soon come up with the biggest multi-level parking in Rani Bagh area. likely to be built over an area of 4,000 square metres, the upcoming project has the capacity of parking 2,500 vehicles at a time. While the project was in limbo due to lack of interest of private agencies, the construction work is likely to be started in next two months.
The North Corporation has already floated the tender but is yet to give a final nod to the multi-level parking project in the next house meeting. According to the officials in the Corporation, the project will be built on Public Private Partnership (PPP) mode. Moreover, the expenditure of the whole project will be undertaken by the concessionaire
This project will be built in Public Private Partnership (PPP) mode. The cost of project is likely to be borne by the concessionaire which will be entitled the construction of the lot. The facility will be spread out across four floors — two of which will be underground.
Under this project, the concessionaire might be allowed to collect parking charges for first seven years and use 25 per cent space reserved for commercial activities so it can recover the construction cost. later it will be handed over to North MCD. The other option is that profit will be shared by both agencies period of handing over of parking lot will be extended.
“As per the agreement deed, parking lot will be operated by the concessionaire for a few years but the Corporation will be its actual owner. Once that period will over, it will be fully operated by the MCD,” said an official.
The Corporation official said the project will be completed in 24 months. The Corporation has said that the facility would not be automated but ramps will be constructed for hassle-free movement of vehicles. The estimated cost of the project is Rs50 crore.
“Considering the ever-increasing volume of vehicles in the area, it has been decided to construct a four-floor parking (facility) at the Sant Nagar market. To finish the project within a fix time period, the Corporation has already rolled out the tender and has sought applications from private companies. If things go well, the proposed plan will get the go ahead in the next meeting after which formal announcement will be made,” said an official, adding that, the plan was put in abeyance on several occasions. However, the decision was finally taken as the space crunch became more pronounced.