Calcutta, May 9 :     The Calcutta Municipal Corporation has scrapped its Rs 60-crore New Market redevelopment project, with the heritage committee disapproving the scheme last week. The nine-member committee after inspecting the market and going through the scheme last week concluded unanimously that the proposed redevelopment if allowed, would completely destroy the heritage character of the century-old structure constructed by Sir Stuart Hogg. ?In view of the committee?s observation, we have scrapped the project,? municipal commissioner Asim Barman said. After the devastating fire in 1985, only the portion that was razed to the ground was rebuilt. However, a plan had been prepared to rebuild the entire market which has now been struck down by the heritage committee. The committee has also advised the corporation to pull down hoardings obstructing the architecture of the market. Over a dozen hoardings, Barman said, were pulled down and a facelift done on the Lindsay Street end of New Market with financial help from an NGO, People United for Better Living in Calcutta. Manoj Majumdar, former chief engineer (project and development) said the redevelopment of New Market was thought upon soon after the 1985 fire and the plan sanctioned in the late Eighties. The plan, prepared by a reputed consultant firm, proposed construction of a four-storey market-cum-commercial complex on about 20 bighas plot of land by demolishing the old structure. ?Because of funds constraint, the corporation could not pursue the project for about 10 years as it required Rs 60 crore,? Majumdar said. Soon after the renovation of the Town Hall, the project and development department of the corporation started pursuing the old plan anew, with several private developers approaching it, expressing keenness in developing New Market. Most mayor-in-council members were also in favour of developing New Market since the revenue from the market was incredibly low. Member, mayor-in-council, Bama Charan Chakravorty said ?The rent is 10 paise per square foot daily and this cannot even sustain the maintenance of the market?. Anindya Karforma, municipal architect and town planner in-charge of the heritage structures, said it took four years to construct New Market at Rs 2.58 lakh.