CP’s Redevelopment: a saga of unending deadlines and escalating costs
Connaught Place is the world’s eighth costliest office destination and probably a wallowing hangout and shopping spots in Delhi. However, this Georgian architecture, almost after 70 years of its existence and catering to the shopping needs of denizens is losing its sheen; and thus is crying for redevelopment.
Being one of the oldest places in the capital, it had several revisions to its plan which included underground parking project, subway project and the latest redevelopment project for the commercial district.
Though boasted as latest redevelopment project for the CBD, the project has already broke 20 deadlines from the year 2005. And importantly, following upgradation of budget allocations the project budget which was set to Rs 76 crore in the initial allocation had turned into a total of Rs 671 crore by 2014.
Most components of the project have been funded under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) accounting up to Rs 253.75 crore in the year 2008 at the time of approval.
Background
Proposed in 2004, the report of the project was submitted in the early 2008 and was approved by the Delhi Urban Art Commission by late 2008. Kick-started in May 2009, and breaking the first deadline for the project meeting with the hosting of Commonwealth Games around October 2010, the project has missed about 8 major deadlines till date.
Though revamp and redevelopment of the Connaught Place area was much in discussion from late 2000s, it was finally included as a part of ‘Return to Heritage Project’ by New Delhi Municipal Council (NDMC) in the year 2004. This included works like provision of heritage sensitive signage, engineering improvements of roads, drainage and sewerage works, water supply and substations, development of a traffic management plan, street furniture provisions, adequate parking provisions, walkways etc. Also included the enhancement of structural stability of all the buildings for earthquake resistance.
Current situation
With this continuous redevelopment activity carried on the site is being erratic to the shopkeepers and is involving interruption in the power supply to the merchants causing sales decline. Again the haphazard construction in the site has left the entire area in a mess with all the construction material laying unattended for long intervals. And the blame game for such a long delayed project stops at Engineers India Ltd (EIL), who are criticised to lack co-ordination with the civic body.
So, will this shoppers’ paradise ever be redeveloped? Will the commercial prices increase? At present, the annual rent in CP is more than Rs 9,000 per sq.ft., will it increase further? Well, only the time will tell!
