From parking complex to mall?

A few years ago, around 1997-1998, the BMP announced that it would build a multi-storeyed parking lot in its unused workshop on Magrath Road to ease the scarcity of parking space on M.G.Road and the central business district. Like all infrastructure projects, this one too didn't take off the ground and one didn't hear of it for a long time. In 2002, the BMP reiterated its plans to build this parking convenience.

However, the latest issue of Images Retail, a publication devoted to the retail industry reports that the BMP has allowed (it is not clear if the land has been leased or sold) the development of a mall, Garuda Mall, of over 600,000 sq. ft. space by a private property developer, Euroamer Garuda Resorts.

In a report as recent as Aug 2004 in The Hindu, BMP Commissioner, Jothiramalingam says "we are creating multi-level car parking facilities in as Magrath Road, J.C. Road, and Chikpet.".

On its website the BMP still says that such a project is under development. However it says, it would have a commercial component as well.

The Deccan Herald reported in June that
"The Garuda mall on Magrath road will be no different. In fact, it has an 11 level car parking facility with a capacity to park 1000 cars. One of the purposes of the mall appears to be to ease the parking problem in the area. This mall is scheduled to be operational by the end of this year. It would be having a 5 screen multiplex with a multi-cuisine food court, children’s play area along with facilities for the disabled in terms of special ramps."

While a commercially component may be required to part fund the project, the Deccan Herald, goes along with BMP's assertion of the project easing parking space instead of questioning how a mall of such size would alleviate the problem. It would instead increase the pressure on traffic and parking space in that area, if the experience with the Forum Mall is anything to go by. And it goes without saying that the developer would employ every trick in his book to ensure that everyone but his customers are kept at bay.

This report has details of the promoters:
"Euroamer Garuda Resorts (India) Pvt Ltd, a joint venture company of Euroamer Holdings SGPS and Garuda Builders Pvt Ltd. Euroamer is a mega-company involved in infrastructure, tourism, information technology, shopping complex development all over the world. The head office is in Lisbon, Portugal, and an Indian operating office in Bangalore, India.

Euroamer is headed by Mr Frank Carlucci, a former Defence Secretary of the United States of America, and head of the Carlisle Group, a large US business group. The directors include Mr Sherman Lewis, the CEO of Lehman Brothers, Mr Fred Melek, Director of North West Airlines and Chairman of Thayer Partners, Mr Artur Albarran who developed commercial and residential projects in Portugal, Spain, Angola and Mozambique, Mr Jack Kemp who was a Vice-Presidential candidate, Mr Tony Coehlo, Campaign Director for Mr Al Gore, Mr Terence McAuliff, head fund raiser for the Democratic Party. The Indian partner Mr Uday B Garudachar of Garuda Builders Pvt Ltd, is a respected name in the Indian real estate business. An engineering graduate from Bangalore University, he has been in the building industry for over a decade."
With such well-connected names, little surprise that the BMP has quietly allowed this project to take off.

One only wonders the fate of the other parking lots at JC Road (half constructed and abandoned) and at the intersection of Kempegowda Road and Subedar Chatram Road.