The State government has given its administrative sanction for the construction of a multi-level car parking at Bashyam Road in T Nagar at a cost of Rs 25 crore. The parking facility will be set up on a Design, Build, Operate and Transfer (DBOT) basis.
The fully automatic multi-level car parking will be coming up in an area of 1,600 sq.m (seven grounds), available at Bashyam Road in front of Panagal Park. Since the project is proposed under DBOT basis, the cost will be borne by the operator. As such, there will not be any expenditure for the Chennai Corporation.
The Tamil Nadu Urban Infrastructural Financial Services Limited has appointed M/s Jones Lasalle as consultant for this project for preparation of a detailed project report and the consultant has submitted its feasibility report.
The Chennai Corporation Council, in its resolution on August 24, 2012, accepted the proposal of the consultant after certain modifications. At present, the Chennai Corporation is collecting street parking fee for four wheelers at Rs 5 per hour, while no parking fee is collected for two wheelers. The council has accorded approval for charging Rs 30 per hour for four wheelers and Rs 7 per hour for two wheelers.
T Nagar is a major commercial hub and frequented by thousands of people daily. Available parking space in this area is very meagre and all the adjoining roads and streets are chocked with parking vehicles. The multi-level parking facility is proposed to mitigate this problem.