Monday, June 27, 2005

Kalasipalyam Bus Stand to be commercial complex

Kalasipalyam Bus Stand to be commercial complex
New Indian Express

BANGALORE: Public-Private Partnership is the new mantra to increase non-tax revenue of Bangalore City Corporation (BCC). EWS colony, Garuda complex, Malleswaram Market, Johnson Market and now Kalasipalyam Bus stand will be covered.

In two years’ time the unkempt Kalasipalyam area would be an upmarket bus terminus with a commercial complex.

Although the official process to convert the Kalasipalyam bus stand into a state-of-the-art Inter State Bus Terminus (ISBT), complete with a commercial complex and parking facility, was started way back in 2003. The project has been delayed even though the civic body has shortlisted the contractor.

Based on the recommendations of IDECK, BCC invited pre-qualification bids in 2003 and 17 firms responded. Eleven were shortlisted and asked to submit project proposals to develop the property on Build Operate and Transfer (BOT) model with a lease period of 15 years for the bus stand.

Only one firm, Ramky Infrastructure Ltd, complied and submitted the project proposal in December 2003. The firm proposed to develop a 32,150-square metre bus stand on the ground floor with a space of 6,250 square metres for passenger movement.

The project would have passenger facilities on the mezzanine floor, a parking area located on the first floor, a commercial complex on the second and office space on the fourth.

BCC has accepted Ramky’s proposal for a 17-year lease on the bus stand and 36 years for its commercial space but has invited the contractor for renegotiations.

Ramky has not responded so far and re-tendering will have to be resorted to soon, said BCC sources.

BCC sources said that the developer would spend Rs. 23.52 crore on the project and it will be ready in two years. The cost of the bus stand will be Rs. 8.8 crore. Further, the civic body will get a revenue of Rs. 1.30 crore from the project and no public money is involved, sources said.


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