TDF sanctions loan for constriction of Shopping Complex in Lalbandi Municipality

The Executive Director of Town Development Fund (TDF), Mr. Maniram Singh Mahat, signed a loan agreement with the Mayor of Lalbandi Municipality, Mr. Man Bahadur Khadka for the construction of Shopping Complex under the “Urban Infrastructure Development Financing Project” on October 11, 2018 amidst a function held in the office of TDF, New Baneshwore, Kathmandu. The total estimated project cost is NRs. 94,000,000 and TDF is going to finance 80% of the project cost with the interest rate of 8% per annum for the period of 20 years, including 2 years of grace period and the remaining 20% of project cost will be matched by the municipality.

The proposed ‘Construction of Shopping Complex’ project site having 2 Kaththa land area lies in Ward no. 5, Lalbandi Municipality. The site of the project is well connected with the East-West highway on the northern side and the graveled secondary road on the western side, located in the main commercial zone of the city and remains as the prime market area of Lalbandi Municipality. The shopping complex will have 5 floors, including semi-basement with total number of 53 rentable shops along with restaurant and seminar hall on the top floor and parking facilities on the ground. The project is expected to generate NRs. 10,350,264 revenue annually by renting out the facilities