Shillong, Feb 24: The Shillong Business cum Tourism and Cultural Centre — built on the old MTC depot land at Khyndailad — is 86% complete and expected to open by June 2026.
Informing this in the assembly in reply to a query on Tuesday, Deputy Chief Minister in-charge Transport Sngiawbhalang Dhar said the project was conceived in 2021 to utilise 1.76 acres of prime commercial land.
“The objective of the proposed development is to optimally utilise this high-value land…by establishing office spaces, conference facilities, restaurants, commercial establishments, and other related amenities,” he said.
The cabinet approved an estimated cost of ₹216.347 crore, with a HUDCO loan initially pegged at ₹154.213 crore, ₹45 crore from Shillong Smart City Project, and ₹17.13 crore from the state government.
Dhar clarified the loan component was later finalised at ₹115.66 crore, with the state covering the gap, and that Meghalaya stands as guarantor.
“The repayment of the loan commenced and there has been no default in loan repayment till date. As of November 2025, the balance outstanding liability…is Rs 1,08,58,00,955,” he said, adding the 12-year loan will close by 2036.
A quadripartite agreement was signed on February 10, 2023, between the government, MTC, MUDA and Shillong Smart City Ltd.
The tender was awarded to the lowest bidder at Rs 211.871 crore, including GST.
“Physical Progress of the project is around 86%…structural works for both wings have been completed,” Dhar said, noting finishing works and the connecting bridge are under way.
Financial progress stands at 85%, with Rs 198.52 crore paid to the contractor after statutory deductions.
The centre comprises twin six-storey wings with 19,057.68 sq m built-up area, parking for 196 vehicles, and 3,756.1 sq m of open space.
Dhar said the East Wing will be rented to government agencies, while remaining areas will be allocated by MTC through competitive tender.
Sixty tenants previously displaced from the MTC complex have already been identified for accommodation in the new building.
