For the first time, the Kerala State Housing Board (KSHB) is planning to go for a public-private-panchayat partnership-model for a mega project ‘Finance City’ being planned at Marine Drive in Kochi, on 18 acres.
Around 100 acres of land owned by the KSHB in various places in Kerala will also be converted into commercial complexes. The mega project ‘Finance City’ is being planned to bring all financial institutions under one roof.
A meeting in this regard was held here and it was decided to prepare a detailed project report. An international-level techno, commercial cum legal expert company will be appointed to prepare the project report.
“Tenders will be floated to select the company which will finalise the report depending upon the feasibility and source of income to complete the project. This will be a fully commercial building on the lines of similar complexes in Hyderabad and Bangalore,” said Arakkal Balakrishna Pillai, chairman, KSHB.
Finance Minister K M Mani has already given the green signal to go ahead with the dream project of the Housing Board.
Around Rs 15 lakh has to be spend for preparing the project report.
“Similar projects will also be planned in lands owned by the KSHB in various districts in the state as joint venture programmes under public-private-panchayat (PPP) partnership,” he said.
The Board has also decided to construct 200 homes for the National Thermal Power Corporation (NTPC) in Thiruvananthapuram and Kochi, where KSHB has its own land. This is for the employees of the NTPC, which is expected to cost `100 crore. The project will come up in Aakkulam and Ambalamukku here and Irumbanam, Thrikkakara in Kochi.
There are also plans to construct 1,000 low cost houses for the financially backward section of the society. A working women’s hostel has also been planned in this financial year.
Green building concept will be implemented in Ambalamukku here and in Panampilli Nagar in Kochi. This new trend in construction sector will reduce the cost of construction and is also environment friendly.