It was a grand event organised by the civic agency and the New Delhi Traders' Association with singer Kailash Kher performing with his troupe in CP's Central Park.
Manish Sisodia, newly elected Minister for Urban Development, Education, PWD, Local Bodies, Revenue and Land and Building inaugurated the celebrations.
The Connaught Place Redevelopment project was conceived in April 2004 and was scheduled for completion ahead of Commonwealth Games in October, 2010, but missed a series of deadlines since then.
The estimated cost when the project was started was Rs 76 crore but has reached Rs 430 crore till now and will rise further as some minor works are still left.
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"The revamp of the middle circle is still to be done. Some painting and cabling work is also left. But this will not be disruptive to shopping," NDMC chairperson Jalaj Srivastava said at the event.
"The revamped Connaught Place will be very good for the residents of Delhi. I am very happy that the project is completed, though after a lot of delay," Sisodia said.
"I still remember that for people like us who are not from this city, the meaning of Delhi was Connaught Place," a nostalgic Sisodia said.
The procrastination in completing the project was the proverbial thorn in the city's most busiest shopping hub. NDMC was at the centre of attack for mismanagement and delays that caused great inconvenience to shop-owners and visitors alike.