In fact, similar measures worldwide have translated into a dramatic increase in sales and also rentals. CP, as the area is popularly known as, is poised to become an "open-air mall" once the decision is implemented, they opine.
Both Raj Cherubal of Chennai City Project of Anumita Roychowdhury of CSE are of the view that the notion that it will hit trade is misplaced. Cherubal, an urban planner, cited the examples of Shanghai's Nanjing Road or USA's Times Square to buttress his point.
Cherubal termed the proposal, that will be rolled out for a period of three months in February, as "terrific" and one that needs to considered by all Indian cities with proper planning and design.
"Nanjing Road in Shanghai, Times Square in US are good examples. Everywhere in the world, especially advanced countries, are adopting that model. Everywhere they do this the shopkeepers benefit as rentals and profits go up dramatically. In fact, when it was implemented in Times Square long back rentals had gone up by 70 per cent," Cherubal said.
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"Studies have proven that. The prerequisites are that the area has to be well-connected with the public transport system and CP is quite well connected in that sense. It will help improve the overall quality of life," she said.
Trade in CP, that came up around 1930 and was losing out to newer entertainment hubs like Hauz Khas, has seen a renewed boost with the completion and opening of Rajiv Chowk metro station during the 2010 Commonwealth Games.