Nagpur civic body to provide land for rehabilitation
The Nagpur Municipal Corporation (NMC) faces a major hurdle in temporary rehabilitation of existing shopkeepers of Cotton Market, Santra&Khowa Market, Gol Bazar and Netaji Market.
As per the memorandum of understanding (MoU) signed between it and MahaMetro for development of these markets, land required for temporary relocation of existing licensed shopkeepers will have to be provided by the NMC. However, MahaMetro shall be primarily responsible for their relocation.
The MoU states that cost of shifting, restoration and upgrade of utilities will have to be borne by NMC through its share of premium on extra floor to space index (FSI) collected under transit oriented development (TOD) policy. The cost so incurred will be responsibility of NMC and shall not part of joint development expenses.
While this is not mentioned in the MoU, MahaMetro will begin with arranging funds for the projects. A source in the Metro agency said, “We may take a bank loan or use our own money generated from various sources like surcharge on stamp duty, premium on extra floor to space index (FSI), etc.”