With demolition works complete on the west side complex of New Market, the Dimapur Municipal Council (DMC) is planning to soon begin the construction works.
Speaking to Nagaland Post on the proposed construction of the complex, DMC administrator W. Manpai Phom, disclosed that the construction process would be undertaken by the DMC with funding sourced from local allottees.
DMC chief informed that despite reporting the conditions of the building to the government, there was no immediate funding available from the government or the department for the project. He stated that any development projects under the DMC including revamping of New Market traditionally relied on local mobilization of funds. Phom said that allottees were required to contribute 50% of the monthly rent towards such projects.
On local mobilization of fund, DCM chief asserted that discussions have been held with the allottees regarding their contribution towards the project. He said that the allottees have agreed to contribute, adding that the amount each allottee would contribute had been structured to cover the project expenses.
Further, Phom disclosed that the project would cost about Rs.10 crore.
Asked whether the local funding would be enough to cover the total cost, he stressed that the making approach convenient for the allottees to contribute. Contributions from allottees will be collected gradually on an instalment basis after commencement of construction, he said. DMC administrator said that the phased-collection strategy ensured that the financial burden on individual allottees was manageable while collectively covering the project’s expenses.
It may be mentioned that the objective of the project is to restructure the space to accommodate both vendors and parking facilities.