11-05-2025
- Business
- New Indian Express
Chalai market redevelopment project eyes revival under Centre's new scheme
THIRUVANANTHAPURAM: The long-awaited redevelopment project for Chalai market may soon receive a boost, as the state government seeks financial assistance through the Union government's newly launched Urban Challenge Scheme. Official sources indicate that authorities are aiming to secure one-third of the project's estimated cost of around Rs 200 crore from this Central scheme, which was recently announced in the Union Budget.
Initiated by Smart City Thiruvananthapuram Ltd (SCTL), the redevelopment aims to revitalise the centuries-old market. The project is planned in four phases, with Phase I, focused on upgrading the roads, nearing completion. However, due to a lack of funds, SCTL had to pause the subsequent phases.
'We have been actively seeking funding sources, and the Centre has responded positively to our proposal. Discussions are in the final stages, and we are hopeful of securing the necessary funds. One notable feature of the project will be the installation of umbrella covers along the main street of the market,' said an official.
SCTL officials said that the Chalai redevelopment project was adopted in 2022 as a contingency plan. 'That year, we were struggling to move forward because several major projects, including the Palayam market and Rajaji Nagar redevelopment, were stalled.
The Centre mandated that we initiate alternative projects or risk returning the sanctioned funds. As a result, we chose to focus on Chalai. Once progress resumed on the other projects, however, we faced funding challenges for Chalai and started seeking alternative financial resources,' an SCTL official said.
In Phase I, SCTL has already upgraded most of the road network within Chalai market, with only the main arterial road left to be worked on. Officials said that construction on this critical stretch will begin soon. So far, approximately Rs 15 crore has been spent on roadworks, with the total cost for this component expected to reach Rs 30 crore.
Another key feature of the project is a proposed multi-level car parking facility on corporation-owned land on the market premises.
