BMC Resolves Dispute Over Market Complex In Bhubaneswar, Finalises Rents & Other Conditions

Bhubaneswar: The Bhubaneswar Municipal Corporation (BMC) has finally resolved the dispute over Panchdeep Market in Odisha capital and decided to open it as per the recommendation of its committee.

The BMC had assigned the construction of the market complex at Unit IV in the city on government-private partnership to Panchdeep Construction Pvt Ltd in 1999. The project was delayed due to slow pace of work by the construction company.

The company also did not hand over the rooms meant for shops and offices to individual applicants as well as the share of the BMC. With the dispute over the rent of the rooms continuing for a long time, the BMC sealed the entire complex.

Following demand from the people, who had applied for the shops, to open the six-storey complex, the BMC set up a committee led by an additional commissioner to find a solution.

According to BMC sources, the committee has submitted its report recommending e-auction of the rooms with the consent of all parties in the dispute. The committee has recommended the rent of Rs 55 per square feet (sq ft) for each room in the ground floor of the complex and Rs 45 per sq ft in the rest three floors.

The allottees have to deposit six months’ rent towards advance and refundable amount of Rs 10,000 for each shop and Rs 50,000 for office room. The amount will be returned to the allottees if the rooms are not allotted in time.

The allottees have to pay the rent within 7 days every month. In case of delay in payment of the rent, the defaulter will be charged interest of 12% per annum.

The committee has also recommended that the BMC will sign an agreement with the beneficiary for allotment of the shops and offices. It will be renewed every 3 years, but the allottees cannot sell or hand over the rooms.