New Delhi, Nov 4 (PTI) The New Delhi Municipal Council (NDMC) has initiated the process to redevelop the iconic Super Bazar building near Connaught Place's Shankar Market into a modern market complex, seeking to attract private investment and generate revenue from its prime property in the heart of the national capital, officials said on Wednesday.
Officials said the civic body has initiated the process to appoint a transaction advisor who will assess the building, identify its best possible commercial use, determine its value and oversee the process of selecting a developer.
The advisor will also examine whether the existing structure can be redeveloped without demolition.
Super Bazar was once among Delhi’s best-known shopping destinations and a popular name in the city’s retail landscape. Set up in 1966 as a cooperative department store, it became a favourite among shoppers for its range of groceries, household goods, clothes and other everyday items under one roof.
Located in the heart of Connaught Place, the store attracted customers for decades before financial troubles and declining business affected its operations. Its closure in 2002 marked the end of an important chapter in Delhi’s shopping history, although the building has remained a familiar landmark in the area.
The civic body initiated the project rollout in July 2025 by issuing a public notice to select technical and financial transaction advisors. The exercise is aimed at establishing a public-private partnership (PPP) model to guide the redevelopment effort.
Under the NDMC’s proposal, the transaction advisor will complete the initial assessment, valuation, and bidding process in about 33 weeks. The project will assess the property's commercial potential, estimate its market value, and prepare terms to lease or license it to a successful bidder.
The civic body has estimated the cost of appointing the transaction advisor at Rs 2.25 crore. The bidding process will begin with the submission of proposals, for which December 1 has been set as the deadline. A pre-bid meeting will be held at Palika Kendra on November 13.
The deadline for seeking clarifications is November 10. The technical bids will be opened on December 1, followed by the evaluation process.
The NDMC finalised a comprehensive proposal in January 2026 to present before the council.
Officials said that the NDMC aims to develop the property as a modern market complex and create a sustainable source of non-tax revenue by putting its prime real estate assets to commercial use.
(This story has not been edited by THE WEEK and is auto-generated from PTI)