New Delhi, Apr 13 (PTI) The Connaught Place beautification project, which includes painting the outer and inner circles and the radials, will be completed by June, a New Delhi Municipal Council official said on Thursday.

The beautification of the historical market, stalled for months due to a funds crunch, has been made possible by the State Bank of India agreeing to provide financial support under its Corporate Social Responsibility scheme.

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The New Delhi Municipal Council (NDMC) signed a pact with the State Bank of India and the Indian National Trust for Art and Cultural Heritage (INTACH) on March 31 to restore buildings in Connaught Place. The state-owned bank is providing Rs 3.19 crore, the official said.

The historic market was last renovated before the Commonwealth Games in 2010. It now requires a fresh coat as the paint has peeled off in several places. The pillars are stained with pain and gutkha spittle. The facade lighting, installed in 2010, also requires immediate attention, the official added.

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"The total budget for this project is Rs. 3,19,30,213 (Rs 3.19 crore), which has been approved by the bank under its CSR programme and the same will be released on a written request after achieving the terms of milestones as set out in the agreement between INTACH and NDMC," said the civic official.

"Work shall be completed by INTACH within three months after the date of the Memorandum of Understanding signed between the three parties…," the official added.

With India presiding over the G20 bloc for a year, the beautification project will enable the NDMC to showcase the unique heritage of New Delhi, the official added.

The aim of the Memorandum of Undertaking is to ensure the conservation and restoration, including repair work and exterior painting work, of all buildings in the outer and inner circles and radial roads of Connaught Place, the official said.

The agreement was signed in the presence of NDMC Chairperson Amit Yadav and SBI Chief General Manager Kalpesh K. Avasia and INTACH Convenor Anita Singh at Palika Kendra.

The Union Ministry of Urban Development and the Heritage Conservation Committee have given their no-objection to carry out the work.

The civic body had asked the traders to fund the renovations but they refused, saying the NDMC should use the money collected as tax.

India assumed the presidency of the G20 on December 1. Over 200 meetings at 55 locations across the country will be held during this period. It will culminate with a summit in the national capital in September. PTI

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)