Shankar Nag Cinema to make way for BMP multiplex

Shankar Nag Cinema to make way for BMP multiplex
New Indian Express

BANGALORE: The Shankar Nag cinema on M G road, popularly known as Symphony, would make way for a four screen multiplex.

The cinema hall located in the Bangalore Mahanagara Palike’s (BMP) prime property Subhash Chandra Bose complex (Public Utility Building) would be renovated soon so that the civic body gets higher revenue.

As the Plaza pulled its shutters last year, the proposed multiplex would provide a few more choices to the cine-goers.

Last year, BMP had invited expressions of interest to develop the theatre on a renovate-operate-and-transfer basis.

After many deliberations and negotiations, the BMP council gave its nod to the work during its last meeting. Shrungar cinema has been selected as a lessee for 10 years.

However, the operator would not dedicate any screen for exclusive screening of Kannada films.

Earlier, the civic body had sought to reduce the lease term to five years and demanded that a screen be dedicated to Kannada films.

But the financial analysis could not justify the claim as BMP expects Rs 17.5 lakh fees every month. The cost of converting the existing single-screen hall into a four screen multiplex itself would cost Rs 5-6 crore.

Further, such conditions were not part of tender document. Presently, BMP gets Rs 2.75 lakh per month from the theatre.

The civic body had reserved the Puttanna Kanagal theatre in Jayanagar for Kannada films.

The renovation would include providing of state-of-the-art projection equipment along with latest sound system. The operator would also provide trendy seating and acoustics.