New Jayanagar Complex in 2 years: CM
By Express News Service - BANGALORE
05th August 2012 09:47 AM
In an effort to enhance the city space with first class commercial facility, Jayanagar IV Block Shopping Complex, will be reconstructed by Bangalore Development Authority (BDA) and Bruhat Bangalore Mahanagara Palike (BBMP) on a partnership basis at a cost of `252.27 crore.
Speaking after laying the foundation stone for the construction work here on Saturday, CM Jagadish Shettar said, “Initially, there were some resistance from the shopkeepers. But we have gained their confidence and the works are expected to end in a time-bound period of two years.”
The BDA will invest 60 per cent of the amount and contractor Nagarjuna Constructions will bear the remaining 40 per cent. Later, BDA will pay that remaining amount to the contractor in installments, from the rent collected from the shops.
Construction work will be taken up in four phases. In the first stage, the Puttanna theatre will be re-constructed (in about nine months), where in the vegetable market will be shifted. The works on Janata Bazaar,
Maharaja Cold Storage, fish market etc will be taken up simultaneously. “Puttanna theatre will be reconstructed with a seating capacity of 1,000. Also, two multiplex theatres will come up after reconstruction,” MLA Vijayakumar said.
BBMP Commissioner Shankaralinge Gowda said that the reconstructed
building will have windmills atop their roof to generate power. When Express spoke to Vice-president of Jayanagar Shopping Complex Merchants Association K V Venkatesh said, “There will be some inconvenience to the shop-keepers. But the officials have assured that once the work is complete, all shop owners will be allotted space.” Many shoppers of Jayanagar expressed that they will miss the old shopping complex, but felt that the city needed a makeover.
Deputy CM K S Eshwarappa and R Ashok, MP Ananth Kumar, Mayor and D Venkatesh Murthy were present.
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