KOCHI: The Bliss City project is set to take off soon with the Kochi Metro Rail Limited (KRML) initiating the first phase of development of the proposed project in Kakkanad by leasing out 3.41 acres of land to private investors.
According to sources, development activities on the leased parcel are expected to commence shortly. The design and specific components of the development will be finalised in line with the project framework. In addition, another land parcel measuring 1.62 acres has been tendered and is in the process of being handed over.
Bliss City is a mixed-use development planned on approximately 31 acres of land at Kunnumpuram in Kakkanad. The state government has transferred 17.43 acres of the total site to the KMRL. For the latter, the project is part of its non-fare revenue strategy. The projected land value of the site is between Rs 600 crore and Rs 700 crore.
The land will be used for commercial, retail and entertainment purposes. In addition, to facilitate implementation and attract private participation, KMRL partnered with the National Buildings Construction Corporation (NBCC), which is responsible for structuring the project and managing the development process. The MoU between the two was signed in May 2024.
The revenue model remains flexible, with the project offering both rental and revenue-sharing options to attract stakeholders. The proposed components across the site include commercial office spaces, retail centres, entertainment zones, hospitality facilities and other mixed-use developments.
Kakkanad has been identified as the location for the project due to its status as a key administrative and IT hub in the city, housing major establishments such as Infopark and SmartCity, along with several government offices.
Moreover, connectivity to the region is expected to improve further with the proposed Phase II extension of the Kochi Metro.
The project had previously faced delays in attracting investors and moving to the execution stage. With the leasing of initial parcels and tendering of additional land, the KMRL has begun the development process in phases.
Further parcels are expected to be offered to investors in the subsequent stages of the project. Once complete, the Bliss City is expected to greatly transform the region into a premier business and leisure destination, with easy access to the rest of the city via the Pink Line.