Indian real estate company Omaxe has signed a deal with Jindal Steel and Power Ltd (JSPL) on July 20 for the supply of advanced steel structure for the group’s commercial project at Chandni Chowk in New Delhi.
Omaxe will be constructing a multi-level parking cum commercial project to provide parking facility to over 2,100 cars on 4.5 acres land allocated by North Delhi Municipal Corporation.
Omaxe has adopted the use of modern technology and has signed a pact with JSPL for supplying 7000-8000mn mt of modular steel structure, according to the company’s statement.
Omaxe plans on developing a 10 lakh sq ft project with three levels of retail space and five levels for parking cars near one of Asia’s busiest retail hub in Chandni Chowk.
JSPL has agreed to supply the building structure in a knocked-down form at the site. The structure will take approximately 10 months to be erected and fully completed.
The CEO of Omaxe, 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. In order to cover up for the lost time, we are using the advanced steel structure technology which will not only save 40pc time but also help expedite delivery of the project by July 2022.”