Get set for 11 Swanky civic markets in the city by Diwali.

Navi Mumbai: If Sources within the NMMC are to be believed then the city will soon get 11 new civic markets. NMMC has decided to undertake the redevelopment of 11 civic markets. The civic department has decided to redevelop 4 markets at its own cost, while, seven on PPP basis in different parts of the township. The decision was taken at the last GB meeting held recently, informed Sandeep Naik, ruling party leader and Standing Committee Chairman.

A Proposal for developing dilapidated market buildings was approved and a final decision was taken. According to the plans, the markets will comprise of Shops and systematic parking facilities, besides multi-storied parking arena at feasible points. The thrust was to explore the commercial feasibility and earn more and more profit. The civic improvements committee and the NMMC Commissioner, Vijay Nahata passed the Proposal to that effect stating that the markets need repairs and should be redeveloped to tap additional revenue.

Naik said expression of interest would be considered and subsequently bids would be invited for developing the markets on PPP basis. “We pointed out that, wherever possible, the space should be commercially explored and if the area is large enough and found feasible, then there will be a need for having a big parking lot. The Space for parking will be our prime priority, while the unused space will remain as it is and can be used for public purpose later,” an official added.

On the proposal to develop the market on PPP basis, Naik further said that the NMMC has prepared the plans and sent it for approval to the TPA. Officials inform that bids will be invited to develop the project after getting Permission for TPA. Accordingly all the markets would be re developed and thrown open for the public by Diwali end.

According to NMMC, the seven markets would be set at a cost of Rs. 15 crore and the money would be pumped in by the experienced and reputed developers. The NMMC hopes to earn Rs. 1 crore annually. As part of the market Vision 2008-2009, a multi-phase programme aiming to transform the existing markets into a consumer friendly was initiated by the NMMC Commissioner . NMMC accordingly made budgetary provisions of Rs 2. 90 cr for the financial year for development of the market vision.