Bhubaneswar’s Priyadarshini Market to be redeveloped into modern high-rise residential-cum-commercial complex
BHUBANESWAR: The Priyadarshini Market Complex, often considered as the capital’s first mall, will soon be redeveloped by the Bhubaneswar Development Authority (BDA) into a modern high-rise residential-cum-commercial features.
The agency is planning to add residential units along with shops to the building and initiated process for its reconstruction.
One of the oldest market complexes in the city, the Priyadarshini Market Complex had been constructed in 1989 on an area of 1.440 acre land near CRPF square within Paikanagar mouza. The market had 72 shops and two restaurants on its ground floor and 80 shops at first, second and third floors, besides about 100 pindis.
BDA officials said the complex has now become over three-and-a-half decades old and not in good shape in terms of structural suitability. The complex will be redeveloped in public-private partnership (PPP) mode and expression of interest (EoI) has been invited from experienced developers.
While the existing building has roughly 40,000 sq ft space including 4,330 sq ft area of market pindis, BDA plans to have at least 2 lakh sq ft built-up space in the ground and first three floors of the proposed building. Besides, the composite project will have high-rise residential-cum-commercial facilities to utilise maximum FAR available for the site, the BDA stated.
Apart from having more commercial space and residential units, the proposed high-rise is likely to have modern facilities including two levels of basement parking facility and aesthetically designed interiors. Before implementation of the project, existing allottees will be relocated to another place within five-km radius or get monthly compensation till the proposed building is completed.