Kolkata: The Kolkata Municipal Corporation (KMC) has approved revised terms for the long-anticipated relocation of traders from Park Circus Market to Park Circus Maidan, paving the way for the market’s demolition and redevelopment.
According to KMC, the amendments, finalised in a recent Corporation meeting, aim to address trader concerns while ensuring regulatory compliance and smooth transition.
Under the revised terms,stallage fees prior to relocation will remain unchanged at Rs 5.00 per sq.ft per month for stalls and Rs 4.00 per sq.ft for slabs, in accordance with the Market department’s existing rate schedule. To ease the financial burden during the interim relocation to Park Circus Maidan, fees will be reduced to Rs 2.00 per sq.ft for stalls and Rs 1.75 per sq.ft for slabs. The new guidelines clarify “Change of Name” provisions: applicable only to legal heirs of deceased or incapacitated Recorded Permit Holders (RPHs), with fees of Rs 4.00 per sq.ft for stalls and Rs 3.50 per sq.ft for slabs. Eligible heirs must submit undertakings agreeing to the shift; refusal to relocate will bar such changes and may invite legal action.
Subfloor regulations have been codified. Only regularised subfloors, compliant with building norms, will be allowed in the redeveloped structure. Unauthorised subfloors will be strictly prohibited.
In cases of area discrepancies, traders occupying excess space may regularise it by paying the applicable IGR value. Those with less than their recorded area will receive their full entitlement at no extra cost. No refunds will be issued for previous excess stallage payments, with the promise of larger spaces post-redevelopment considered compensatory.
For closed or vacant stalls, KMC will publish public notices to identify rightful claimants. Unclaimed stalls will be inventoried with police oversight, cancelled and reallocated via tender, with outstanding dues forming part of the base price.
Traders must submit dues clearance, Know Your Licensee (KYL) forms, and undertakings before a First Class Magistrate to avail of these provisions. The two-year project includes trader-managed interior decoration post-rehabilitation, subject to KMC approval.