The Hindu : New Delhi News : Chanakya cinema all set to don a new avatar

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Friday, Sep 02, 2005

New Delhi

New Delhi

Chanakya cinema all set to don a new avatar

Staff Reporter

To be converted into commercial-cum-multiplex project

NEW DELHI: After winning the legal battle in court, the New Delhi Municipal Council is now finalising its plans to convert the popular Chanakya cinema complex in the posh Diplomatic Enclave area into a commercial-cum-multiplex project, ensuring that it generates a good amount of revenue for the civic body.

It was in early 2000 that the NDMC decided to convert the cinema complex into a commercial-cum-multiplex project after the lease of the cinema complex expired. It subsequently served an eviction notice to the lessee. However, instead of vacating the premises, the lessee moved the court that led to over three-year long legal battle, with the court deciding in the favour of the civic body.

Now, the NDMC authorities have starting searching for all files related to the complex so that the work on the project could be started at the earliest. According to a senior NDMC official, a meeting of senior civic body officials would be convened soon to discuss the project in detail, particularly to discuss the mode of finance of the multi-crore project, whether to use the NDMC's own resources or fund it through private parties.

At a monthly Council meeting held in March 2003, it was resolved that detailed designs of the building to be developed will be prepared and financial arrangements will be examined and worked out. "It shall also be examined whether the project can be developed by the NDMC out of its own internal resources or developed through outside agencies with no financial commitment by the NDMC on the project and deriving income by sharing the revenue streams or by sharing the space in the proposed complex," the meeting resolved.

According to the NDMC spokesperson, Madan Thapliyal, the idea of converting Chanakya -- built in 1970 over a 34,000 sq. ft. area -- into a multiplex took shape in October 2000 when the time came for renewal of the 10-year licence agreement. "After the construction starts, the mega-project is likely to be completed within just about 18 months ," he said.

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