Sant Nagar complex may soon have multi-level parking

Keeping in mind the space crunch in West Delhi, North Delhi Municipal Corporation has planned to construct a multi-level parking in Rani Bagh’s Sant Nagar complex. The proposed parking lot is likely to be built over an area of 3,950 square <g data-gr-id="25">metre</g>.

With the capacity of nearly 2,500 vehicles at a time, the proposed parking lot will also cater to shoppers and professionals flocking to the complex and its adjacent areas. The Corporation, which has already floated the tender, is expected to give the final nod to the project in its next House meeting which is scheduled on next Monday. The MCD officials informed that the parking lot will be constructed on a Public Private Partnership (PPP) framework under which the entire cost of the project is likely to be borne by the concessionaire. The concessionaire, for the first seven years, will be allowed to collect parking charges and use 25 per cent space reserved for commercial activities to allow the company to recover the construction cost. Later, it will be handed over to the North MCD. 

The other option is that the profit will be shared by both the Corporation and the concessionaire. In this case, the period of handing over of the parking lot will be extended. “As per the agreement deed, the parking lot will be operated by the concessionaire for a few years but the Corporation will be its actual owner. Once the period is over, it will be fully operated by the MCD,” said an official.

The parking lot is proposed to be a four-floor one--two of which will be underground. The decision was taken a few years back but the project was in limbo due to lack of interest of private agencies. The construction work is likely to be started in two months. The official also said that 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. “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 fixed time period, the Corporation has already rolled out the tender and has sought applications from private companies,” said an official.