Project delay deteriorates BMC Bhubaneswar
Surplus delay in a realty project has caused extreme damage to Bhubaneswar Municipal Corporation (BMC). A delay of 13 years has occurred in construction of a market building in Unit IV, Bhubaneswar.
Panchdeep Market Complex, an eight-storied market, has been under construction for the past 13 years. The work, which was a joint venture of BMC with a public private partnership (PPP), started in 1998 and is still under construction.
According to sources, the BMC had secured the government’s permission to build the complex in July 1998. It was expected to complete by 2007. The BMC would get 35% of the shops whereas the private developer was supposed to get 65%.
But since some vendors moved the Orissa high court in 2002 against the construction there was a delay for 9 years. However the matter ended on a compromise and the construction work resumed in 2011.
The BMC has undergone another bitter experience with a PPP project in Unit II in which the builder has violated the rules of construction plan of a shopping mall. More number of shops has been constructed than was approved in the layout. However the BMC’s third PPP project at Saheed Nagar seems to be a success.
To read more real estate news:
Surprise demolition drive at Bhubaneswar
Bhubaneswar Development Authority unable to control Panchayats
Source: The Times of India
Bhubaneswar, Bhubaneswar Municipal Corporation, BMC, BMC Bhubaneswar, Orissa high court, Panchdeep Market Complex, PPP, Public-private partnership, Shopping mall, Unit IV, Unit IV Bhubaneswar
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