Fall in revenue, hefty salary outgo force BMTC to monetise land assets

Plans to develop six traffic transit management centres under PPP model for the first time

Published: 25th August 2016 04:34 AM  |   Last Updated: 25th August 2016 04:34 AM   |  A+A-

Fall in revenue

BENGALURU: The Bangalore Metropolitan Transport Corporation is eyeing revenue from its land assets in the city in a bid to reduce its financial burden due to the recent salary revision of its employees and the impact of the Metro rail service. 

BMTC officials told Express that bus depots in Hebbal (7.34 acres), Jayanagar 4th ‘T’ Block (9.08 acres), Kathriguppe (5.20 acres), Chikkabettahalli (10.34 acres), Electronics City (2 acres) and Yelahanka (15 acres) will soon get a makeover with the corporation planning to build Traffic and Transit Management Centres (TTMCs) housing commercial establishments under a PPP model.

While BMTC has already developed 10 TTMCs  including Yeshwantpur, Jayanagar, Shantinagar, Koramangala, Domlur, Whitefield, Vijayanagar, Bannerghatta and Kengeri for nearly `500 crore from JNNURM funds, this is the first time it is constructing TTMCs under a PPP model.

BMTC officials said they will soon float a tender inviting private firms to set up TTMCs in the six places. “The selected firm will have to construct and maintain the TTMC for 30 years and then hand it over to us. All these depots are in prime locations which would yield high real estate value as they can rent it out for commercial purposes,” said an official.

BMTC has also roped in Infrastructure Development Corporation Karnataka Limited to identify its vacant lands in the city to develop commercial establishments and also to build quarters for its employees.

“We have several vacant lands across the city and the consultant will help us develop them to generate revenue. We are also considering to construct more quarters to employees so the corporation doesn’t need to pay House Rent Allowance (HRA) which constitutes 25-30 per cent of the net salary. Employees can also get affordable housing facilities,” the official added. 

BMTC records show that revenue from commercial complexes increased from `27.81 crore in 2013-14 to `48.24 crore in 2015-16.

BMTC is also planning to set up multiplexes in bus terminuses in Banashankari, Vijayanagar, Kengeri and Yeshwantpur. Also, BMTC will soon rent out open spaces in bus terminuses in Shantinagar, Koramangala, Domlur, Whitefield, ISRO layout, Yelahanka Old Town and Banashankari for tennis and badminton courts, gyms, clinics and coaching centres (any one of the facilities).

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