HomeCITY NEWSEDC unveiled ambitious plan to set up new commercial city

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EDC unveiled ambitious plan to set up new commercial city

GOA: The Economic Development Corporation (EDC) has unveiled an ambitious plan to set up a new commercial city on around 2 lakh sqm near Merces, on the outskirts of Panaji, that will comprise commercial buildings, shopping malls, hotels, utility services and open spaces. Besides the commercial city, there is also a plan for a Goa-themed market in 8,150 sqm of vacant land at the existing EDC Patto complex.

The corporation has already identified suitable land of comunidade property at Renovadi and Morombi-o-Grande along the Kadamba plateau bypass highway. “It will be like a parallel city, an attraction for the state and for Panaji. It will be a tourist attraction, but even Goans will be interested in seeing it,” said chief minister Pramod Sawant after he viewed the project presentation.

EDC chairman Sadanand Shet Tanavade said the proposed commercial city will create a new revenue source by way of house tax, infrastructure tax, stamp duty, registration charges and other taxes for the state. “If we prepare for this phase, it will give a good look to the city and will also create employment,” he said.

The News24 Goa

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