Sathangadu iron market to be modernised
According to CMDA, a detailed feasibility study will be conducted at the market to plan required facilities and ways to generate revenue through the operation of the market.
CHENNAI: The iron and steel market in Sathangadu will get a new lease of life as the Chennai Metropolitan Development Authority (CMDA) has decided to modernise the market.
According to CMDA, a detailed feasibility study will be conducted at the market to plan required facilities and ways to generate revenue through the operation of the market.
As a part of earning more revenue, the CMDA will study the possibilities of increasing registration fees, license fees, maintenance charges and fixing fees for entry of vehicles and goods into the market.
The modernisation study on the Sathangadu market includes exploring the possibilities for the vacant plots will be used for other activities like timber and iron scrap merchants.
Spread over 203 acres, the market was established in 1991. Out of total area, an extent of about 37.58 acres of land was allotted to Steel Authority of India Ltd. (SAIL) and an extent of 13.21 acres of land was allotted to Vishakhapatnam Steel Plant (VSP).
On 76.07 acres, 850 plots of varying sizes were developed for the traders doing the wholesale Iron and Steel business. Out of the 850 plots 719 plots are allotted. As per the direction of the High Court, shops were allocated to traders in George Town traders to decongest the area.
Apart from the Sathangadu market, the planning authority has also decided to modernise Koyambedu Wholesale Market and commenced a process to study the market.
The study will look into the possibilities of decentralisation of the market apart from utilising the vacant land available inside the market as per the market demand.
As a part of the project, the CMDA will study the existing pattern of economic and financial transactions and implement new methods to bring transparency. Under the modernisation study for implementing the solar panel system, other energy conservation measures such as LED lights, better distribution, and utilisation of power supply will be conducted.
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