Now building foundation for the project is on, which is in the first phase, said KMC’s Public-Private Partnership Unit Chief Mahesh Kafle.
”The project will not complete in time as the construction is slow,” said Kafle.
The project was signed on March 6, 2015 between the Jaleshwor Swochchhanda Bikoi Builders Pvt. Ltd. and the KMC with the completion target of five years. . A total of workers are at work at present.
The initial plan was to build a 29- storey building, but the project was reduced to 12 floors following the earthquake of April, 2015. The project will occupy approximately 23 ropani of land.
The construction company will have to pay an annual rent fare of Rs 9.8 million in the course of the construction, and the rent fare will increase to Rs 23.5 million annually.
Royalty will be increased five percent every year. The contractor will hand over the project to the KMC after 30 years.