Nagpur: Rs 64 crore business complex, parking hub planned near Cotton Market

Maha Metro has drawn up a major plan for a large vacant plot near Cotton Market, one of Nagpur's busiest and oldest business areas. About 34,000 square feet of land lies vacant right next to the Cotton Market metro station. Maha Metro is now preparing to build a business complex and a modern parking facility on the site, aiming to also create new employment opportunities in the area.

Maha Metro has prepared a detailed master plan for this, aimed at setting up commercial infrastructure in the area and easing urban transport. Paperwork for the project has already begun. The entire project will be based on the public private partnership (PPP) model. This is expected to further boost commercial activity in areas such as Peace Bazaar, where business is already brisk.

Under the project, a modern commercial complex along with multimodal parking facilities will be developed on the same 34,000 square foot plot. The ambitious plan is seen as offering major relief to Cotton Market traders from the long-standing traffic problem and parking shortage, while also easing business activity in the area.

According to Maha Metro, the entire project is estimated to cost around Rs 64.8 crore. Large private sector developers are being invited to build it on a design, build, finance, operate and transfer (DBFOT) basis. Maha Metro has set a target of completing the construction within the next three years.

Thousands of vehicles ply daily through Cotton Market and the nearby Bok Bazaar and retail market, which often causes hours-long traffic jams. The project will also include a multi-level parking facility, providing large parking space for two-wheelers and four-wheelers belonging to customers and traders.

The multi-storey commercial complex will house modern shops, corporate offices and showrooms. As per metro safety norms, the entire 34,000 square foot plot will be used only for commercial and parking purposes.