North Delhi will have a commercial complex and multilevel parking facility for 600 cars with in two years in Rani Bagh area of the city.
"The North Delhi Municipal Corporation will earn a revenue of Rs 27 crore for the tender of the commercial complex and parking lot project which had earlier got no response but now it has got a good offer," said Mayor Ravinder Gupta.
The multi-level parking over an area of 3000 sq meter will be completed in a period of two years.
"The developer will bear the cost of construction and hand over the parking lot to corporation after five years while the commercial complex will remain with him," Gupta said.
NDMC is going through "financial crunch" and utilisation of such resources is important to generate revenue, he said.
The Corporation is looking towards development of other parking sites in its jurisdiction on the same pattern, he added.
