KMRL signs up NBCC to implement Rs 700-cr mix-use Bliss City project

The project is proposed to come up on a total of 31.43 acres. Of this, the government has transferred 17.43 acres to KMRL. KMRL's phase-2 expansion will ensure that the location is well connected.
Kochi Metro’s phase-2 expansion will ensure that the location is well connected
Kochi Metro’s phase-2 expansion will ensure that the location is well connectedPhoto | Express

KOCHI: Kochi Metro Rail Ltd’s much-delayed Bliss City project is finally getting a move on. KMRL has appointed the National Buildings Construction Corporation Ltd (NBCC) as the implementing agency for the development in Kakkanad.

A memorandum of understanding (MoU) was signed between KMRL and NBCC, a public sector undertaking under the Union ministry of housing and urban affairs, last week.

Though an expression of interest (EoI) was floated in 2022, no major investors came forward to take up the project. “As it requires the involvement of big investors, we approached NBCC, after obtaining approval from the housing and urban affairs ministry, to conduct a feasibility study of the proposed location in Kakkanad,” said Loknath Behera, managing director of KMRL.

“NBCC will prepare the master plan and the development plan for various commercial (office/retail) and residential spaces or combine the two under applicable norms,” a KMRL official said.

The Bliss City project is proposed to come up on a total of 31.43 acres. Of this, the government has transferred 17.43 acres to KMRL. Kochi Metro’s phase-2 expansion will ensure that the location is well connected. An empowered committee, comprising KMRL and NBCC officials, has been set up to oversee the project.

“The committee, under the chairmanship of Behera, comprising three representatives of KMRL and two from NBCC will monitor implementation of the project and accord necessary approvals for design, estimates, deviations, escalation, unit lease prices of built-up area (BUA), etc,” the official said. A decision on the revenue model of the project, from leasing residential BUAs, mortgaging of land parcels or other viable means or the combination of everything, will be decided by the committee based on the feasibility study.

“After the feasibility study report is approved by the committee, NBCC will prepare a detailed project report. Based on the approved development plan and cost revenue plan, NBCC will prepare detailed estimates, architectural designs and drawings and service drawings required for execution of the project,” said a KMRL official.

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