Construction of almost all ambitious commercial projects in Jamshedpur — malls, multi-storeyed shopping complexes and hotels — has resumed after a gap of a year and a half.
On September 22, 2012, the state government ordered immediate suspension of construction at 59 plots under Tata sublease areas, alleging anomalies in allotment.
In October 2012, some builders moved Jharkhand High Court to challenge the state order.
In an interim order in 2013, the high court said interested parties (builders and investors) could go ahead with construction after submitting an affidavit that in the case of an adverse judgment, they would not be entitled to any compensation.
Then, nine builders went ahead with construction work by submitting affidavits, but the rest, around 15-16, waited for the high court’s final judgment on the issue.
Now, virtually all builders and real estate operators are tired of waiting for the final verdict. They have resumed construction of their respective projects by furnishing affidavits to state urban development department and Jharkhand High Court.
Entrepreneur Balbir Singh, executing a multi-tier parking project in Bistupur, said he had no option left.
“I wanted to resume construction after getting a final verdict in our favour from Jharkhand High Court, but waiting is suicidal as far as budget goes. I had to be ready to risk resuming work by filing an affidavit in accordance with the high court order,” Singh told The Telegraph.
He added he had procured expensive equipment such as heavy-duty elevators and electronic gadgets.
“They are gathering rust at the project site. Moreover, like other entrepreneurs, I also pay huge sum of land rent to the state government every year. I realised it is wiser to risk resuming construction than incurring losses on assets, paying land rent and waiting for the high court’s final verdict,” the entrepreneur said, adding he would complete the project by December 2015.
Multi-crore projects that will now come up in the city include Jamshedpur Centenary Mall, PM Mall and the multi-level parking in Bistupur and Hotel Hayat on Marine Drive, Sonari.
Jamshedpur Notified Area Committee (JNAC) will monitor construction work at Tata sublease area.
JNAC special officer Deepak Sahay said work at several project sites began after a gap of over a year.
“We will start the process of monitoring the construction at all project sites to ensure no deviation from original plan or encroachment of extra space by the builders concerned,” said Sahay.
The resumption of suspended projects has once again revived industrial activities in the city.
“Stalled commercial projects looked ghostly. Now, it feels good. Construction activities have made the city come alive,” smiled Naveen Kumar, an auto spare-parts dealer.
The first lot of projects that are complete and functional include the parking-cum-marketing complex at Sakchi, as well as Hotel Alcor and Hotel Ramada in Bistupur.