PPP formula works well

PPP formula works well
The Nagawara lake development project has created a leisure space for residents in the vicinity
The Times of India


Bangalore is blessed with beautiful lakes but rapid industrialisation and urbanisation have taken a toll on these serene lakes. However, it's amazing what publicprivate partnerships (PPP) can accomplish. The picturesque Lumibini Garden-cum-leisure park, on the Nagawara lakefront near Hebbal Ring Road, is one such example. It was handed over by the Lake Development Authority to a private firm for development a few years ago. The aim was to take up eco-friendly measures and provide leisure and entertainment. The lake has since been rejuvenated, restored and developed into a beautiful leisure park. With an investment of Rs 10 crores, Lumbini Garden is now an attractive destination for those seeking adventure, excitement and leisure.
The Government cannot make such huge investments and having invested in the lake, it is only fair that they are given on a long lease so that they get returns on these investments, says B K Singh, CEO, Lake Development Authority. "There is transparency in these deals and tenders are called for. It's a long-drawn process where we put up our terms and conditions before we offer a lake to private developers", he says.
Lakes are handed over for development based on the 'adopt a lake' scheme. When a party adopts a lake based on 'expression of interest', commercial activities are allowed as long as they are eco-friendly and the lake is well-maintained. For adoption, though, the lease is for five years and no commercial activity is allowed.
According to property consultants in the vicinity, apartments near Hebbal now cost Rs 2,700 per square foot. A year ago, the same would have cost Rs 2,100 per square foot. With increasing developmental activities and many new apartment complexes coming up in the vicinity, even land value, which was Rs 1,540 per square foot earlier, has now gone up to Rs 2,000 per square foot. One of the factors pushing up prices is social infrastructure such as this lake.
Vengainakere beyond K R Puram on Kolar Road has also been leased out to a private party for development. Agarma Lake on the Sarjapaur Ring Road junction near H S R Layout is another lake that's being handed over. Situated in the IT corridor, it is likely to be a huge draw and the developers have promised not to charge any entry fee, according to Singh. Dhorekere near Uttarahalli is likely to be handed over to a private developer too.
The Lumbini garden now offers adventure and entertainment to people with the various activities it has on offer. The latest addition to this already beautiful location is a wave pool for those looking for a beach experience. There are paddle boats and speed boats for those waiting to take to the waters. For inexperienced folk jittery about water, there are professional lifeguards to instill confidence. For those looking for good company and some fun, there's even a floating coffee shop in on the anvil. It's a unique way to party with friends.
Those after adventure can have their share of fun too on the rotating carousal, the vortex and various other fantasy rides on offer. For those only into water sports, there are water skiing devices where you can go jetskiing. If you are looking for that exciting beach experience, there are plans to have a wave pool too. The multi-cuisine food court in the garden has a variety of dishes to offer.
To make the place eco-friendly, there's also a water treatment plant with 40 lakh litres capacity per day. A treatment plant with such a huge capacity would ensure that the water is always clean, explains Singh.
There are also plans to acquire state-of-the-art eco-friendly Chinese boats and install solar lights along the bunds. Apart from this, there are plans to have a nursery with 20,000 plants and a rose park. There are also plans to have more food courts, restaurants, curio shops, a communication centre, tourist booking centres and ATMs.
Bangalore can do with more such lake parks to provide the much-needed lung space and retreat to the residents - whether it's for fun, adventure or plain leisure.