Realty firm Omaxe on Monday said it has signed an agreement with Jindal Steel and Power Ltd (JSPL) for supply of modular steel structure to its commercial project at Chandni Chowk in the national capital.
Omaxe is developing a multi-level parking-cum-commercial project at Chandni Chowk under PPP model with North Delhi Municipal Corporation (NDMC).
About 4.5 acres of land has been provided to Omaxe to provide parking for 2,100+ cars.
Omaxe is developing a 10 lakh sq ft project with 5 levels of parking and 3 levels of retail space.
There is a dire need of parking at Chandni Chowk for the shop owners and lakhs of customers visiting this market daily from all over the country.
To speed up the completion of the project, Omaxe has tied up with JSPL for supplying and erecting the building with modular steel structure, the company said in a statement.
The building structure will be supplied by JSPL in knocked down form at the site. The structure can be erected at the site within 10 months from the starting date.
JSPL will supply 7,000-8,000 metric tonnes of structural steel to Omaxe.
Omaxe CEO Mohit Goel said: “Due to the Supreme Court ban on construction because of pollution and the COVID-19 lockdown, we have lost close to six months of time. In order to cover up for the lost time, we are using the advanced steel structure technology which will not only save 40 per cent time but also help expedite delivery of the project by July 2022.”
Jindal Steel and Power Ltd Managing Director V R Sharma said, “The enquiries for readymade steel structures have gone up off late from developers as they are expediting construction works of their projects."
Omaxe has delivered 119.5 million sq ft area in real estate and construction contracting. It is currently developing 21 projects.