BENGALURU: In a bid to shore up its revenues, the Bangalore Metro Rail Corporation Limited (BMRCL) is looking to make good use of its land available adjacent to its Metro stations.
The tender for the ‘Integrated Property Development around Metro Rail Station at Byappanahalli’, announced in June on 7 acres and 29 guntas is set to be finalised soon.
The Bengaluru Development Authority (BDA) will carry out an inspection of the land on September 29 before giving the green signal to Metro.
Metro has nearly 50 acres of land spread across Bommanahalli, Yeshwantpur, Peenya, Nagasandra, Byappanahalli and Vijayanagar, which it plans to hand over for commercial use.
“We have already received six proposals for our land in Byappanahalli and are in the final stages of awarding the contract to the bidder,” said BMRCL General Manager-Finance (Taxation and Resources), U A Vasant Rao.
“We will decide on the bidder once BDA clears it. The extra revenue generated will go towards repaying a part of Metro’s loans,” he added.
The minimum development premium has been fixed at Rs 150 crore, according to the tender.
A key condition is that the property has to be integrated with the Metro station by lift or staircase or elevator to enable easy access for the public.
The property will be awarded on a 40-50 year contract. The balance will be raised by way of annuity, Rao added. “It is up to the bidder to use the land to do whatever he wants. We will not restrain them in any way,” he added.
BDA’s Town Planning Member Dr Chowde Gowda, said, “This is a mandatory inspection we carry out when any land is going to be put to commercial use to ensure it meets all criteria.”
The Metro run from M G Road station to Byappanahalli, the first stretch operationalised, (Reach-I) was inaugurated on October 20, 2011.
Metro Officials Urged to use Proven Technology
Director General of Railway Research, Design and Standard Organisation (RDSO), Lucknow, P K Srivastava, on Saturday, called upon Metro officials to make use of proven technology adopted in Metro’s Phase-I for Phase-II so that clearance can be granted faster by the RDSO. In an official release, Namma Metro said the Director General, who visited BMRCL office on Saturday, assured Metro Managing Director Pratap Singh Kharola and other top officials that he will look into hastening the statutory approvals for top priority Metro projects without compromising on safety-related issues. Officials also briefed him on the status of all Metro works.