TIRUCHY : The integrated bus terminus, truck terminal, wholesale market, Olympic Academy and the IT park coming up at Panjappur, on the outskirts of the city, is expected to boost the city corporation's revenue by 10-20% in the near future, said Mayor Mu Anbalagan.
As per current estimates, Panjappur projects can bring in at least Rs 100 crore in additional revenue to the corporation in the next one or two years, sources said. According to senior officials, the bus terminus project is nearing completion while the truck terminal and wholesale market projects are expected to be over this year.
The Olympic Academy and the IT park, to be established on 50 acres and 14.16 acres of land respectively, will attract more projects to the region, they stated.
"We have about 575 acres of corporation land in Panjappur. The area will undoubtedly become a commercial hub as a result of the integrated bus terminus and the wholesale market projects. Additionally, these projects will draw more business to Panjappur. We anticipate a 10-20% increase in revenue in the near future," the mayor said.
Currently, the projects are coming up on 200 acres of land. "We would still have roughly 300 acres of vacant land. We would consider mostly revenue-generating projects on it," the mayor added. Meanwhile, a senior official said, "The state government is expected to begin work on the Olympic Academy and IT park projects this year. Panjappur is expected to generate a lot of revenue once these projects are completed."