Bhubaneswar, April 29: Traders and vendors at Unit-I market will have to wait further for revamp as the municipal corporation has a change of plan. A seven-storey building will be built on five acres behind the old structure but in public-private partnership mode.

To lessen the burden on the building, the corporation, which had earlier planned to construct a four-storey structure on its own, would now build a seven-storey building in the PPP mode.

The earlier estimate for the project was around Rs 100 crore.

Civic body commissioner Krishan Kumar today said: "We had been keen to do it alone, and the plan was also ready. The eviction at some of government quarters in the area is also going on. But since we could not arrange funds from the Odisha Urban Infrastructure Development Fund, we now have to go for a PPP mode to develop the market."

With the change in the funds source, the market will now have seven floors, so that the private partner could develop office space and sell it to compensate its investment.

"According to the new plan, the real-estate developer can sell the extra three floors to get their money back as the corporation is not interested to invest money from its side on the project. As the landowner, the corporation will get four floors for the Unit-I market vendors," said a senior engineer.

The municipal commissioner, however, made it clear that the old market would not be demolished and the new structure would come behind it.

"With additional land that would be available after demolition of the government quarters, the area, including the old Unit-I market, will be around five acres. Therefore, the real-estate developer can have no problem in getting the plan approval for a seven-storey structure," said mayor Ananta Narayan Jena.

Jena, however, said that as an additional measure, a multi-level parking would also be developed near the new building. However, as the parking zone will consume more space, it is up to the architects to think over it or use only the basement for parking purpose.

Local resident Mintu Tripathy said: "Unnecessary crowding at the Unit-I market should be lessened by developing other small markets across the city."

According to the general administration department, space had originally been allotted only to shop and pindi (cemented platform) owners in the old Unit-I market.

Gradually, other traders and vendors started thronging the building and the Bhubaneswar Municipal Corporation used to collect tax from them as well.

Consequently, the old market building got congested, and the passages between two rows of shops became narrower.

The civic body is also going to develop other neighbourhood markets across the city to lessen the burden on the Unit-I market.