Varanasi Transforms: Multi-level Parking & Shopping Hubs Funded by Municipal Bonds

• Varanasi Municipal Corporation issued its first municipal bond worth 50 crore rupees, among seven UP cities.
• Funds will develop multi-level parking, hotels, and markets at Sigra and Kabir Chaura, costing 74.52 crore rupees.
• A G+6 building near Sigra Stadium (40.52 crore) will offer underground parking for 56 cars and 22 two-wheelers.
• A G+2 commercial building at Kabir Chaura (34 crore) will be built on 2.5 acres at the Veterinary Hospital complex.
• Projects aim to ease traffic, generate over 1 crore rupees monthly income, and recover bond cost in 50 months.

Why It Matters: Varanasi's new multi-level parking and shopping complexes, funded by municipal bonds, promise urban development and revenue.