CHENNAI: The Sathangadu Iron and Steel Market is all set to get a makeover as the Chennai Metropolitan Development Authority (CMDA) is planning to conduct a feasibility study for modernising it. Spread over 203 acres, 850 plots of varying sizes were developed for wholesale steel traders in 1991.
Out of the 850 slots, 131 are lying vacant and the study will explore possibilities on how to generate revenue out of it. Out of total area, 37.58 acres was allotted to Steel Authority of India Ltd (SAIL) and 13.21 acres was allotted to Vishakhapatnam Steel Plant (VSP).
Due to Cyclone Vardah in 2016 and Nivar in 2020, the roads and infrastructure were severely damaged, resulting in the need for revamp. "Only last year, the roads were repaired and streetlights were provided but we still lack proper power connection and internet connectivity is poor. We request CMDA to go in for another network provider to ensure proper connectivity," said Sathangadu Iron and Steel Market Association president PG Armugam.
It is learnt that the only source of income for the market is through collecting monthly maintenance charges from allottees and entry fees from vehicles, which is hardly enough to carry out maintenance. There is a proposal for paid parking. "We oppose any plans to have a parking yard for outside vehicles. There is not enough space and it will create traffic congestion," said Armugam.
A trader told The New Indian Express that business is badly affected since customers hesitate to come to the market due to poor roads, inconsistent water supply, inadequate streetlights, unavailability of parking space, etc. "Now the demand is picking up due to infrastructure works being carried out. We want the vacant plots should be allotted to us," said Armugam.