Thursday, April 15, 2010

Namma Metro station amidst mall

Namma Metro station amidst mall
CM to lay foundation stone today for construction of a station on Sampige Road, to be built under a private-public initiative
BANGALORE MIRROR BUREAU


The Namma Metro will have a station which will be part of one of the largest malls in Bangalore, on Sampige Road. Chief Minister B S Yeddyurappa will lay foundation stone for its construction on Thursday.
Bangalore Metro Rail Corporation Limited managing director N Sivasailam said, "The 80,000 sqft station will have an 8 lakh sqft commercial complex on top."
This complex will have a two-level parking area that can hold up to 20,000 cars.
Mantri Developers will construct the station, which will be the first public-private venture for Metro. "The lease will be for 99 years, during which the developer will share revenue with BMRC at the rate of 2-5 per cent," said Sivasailam.
Mantri Developers had bought a 24-acre property belonging to a textile mill in an open auction, of which five acres was acquired by BMRCL in 2005.
As per the agreement, the land will be owned by BMRCL, while Mantri will spend close to Rs 35 crore to build the station. "We know Sampige Road is a traffic bottleneck. We have acquired land behind Sampige Road, where a road will come up to make it congestion-free," said Sivasailam.
He also said the Reach-III project - between Majestic and Hesaraghatta Cross - of Namma Metro would be inaugurated by next year end.

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