Bhopal (Madhya Pradesh): The Madhya Pradesh Housing Board has proposed a revenue model to recover the construction cost of a Central Vista-like project planned in place of the ageing Satpura and Vindhyanchal Bhawans.
The model proposes renting out a portion of the new building to private banks and corporate houses for a fixed period to generate revenue.
A senior Housing Board officer told Free Press that the estimated construction cost of the modern building, to be developed after demolishing Satpura and Vindhyanchal Bhawans, is around Rs 1,700 crore.
To recover this cost, two to three revenue models were prepared and presented before the Empowered Committee on March 26.
Of these, the committee agreed on the model that proposes resting a sizeable portion of the new building to private banks and corporate houses. Another model, which proposed selling space to private players, was also presented. However, it was not considered as the project site falls in a sensitive zone from a security perspective.
The new building will provide nearly double the existing space for government offices currently housed in Satpura and Vindhyanchal Bhawans. It will be developed on Green Building concept, with maximum use of natural light for illumination.
No new land for govt offices proposed
During the Empowered Committee meeting, a proposal was discussed to stop allocating new land for construction of government offices.
Instead, departments may be encouraged to relocate to the proposed complex, helping optimise land use. The plan also includes bringing multiple government offices under one roof and developing a parallel road and internal walkways to ease traffic congestion.
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The matter was put up before the empowered committee, and it has been asked to prepare a consent note on the revenue model and transfer of land to the Housing Board.
Gautam Singh, Commissioner, Housing Board
In June 2023, a massive fire broke out in Satpura Bhawan, which houses several government offices, due to a short circuit. Following the incident, the government initially considered renovating the building but later decided to construct a new complex in place of Satpura and Vindhyanchal Bhawans.
