Kmrl Begins Procedures To Lease Out Land For Bliss City, Real Estate News, ET RealEstate
KOCHI: Expediting the procedures regarding the proposed Bliss City project at Kakkanad, the Kochi Metro Rail Ltd (KMRL) has issued e-tender for leasing out its land at Kakkanad town.
KMRL would lease out a total of 17.43 acres at Kunnumpuram near collectorate for mixed use development.
The proposed multi-crore Bliss City is coming up on a total of 31.43 acres. Of this, the government has already allotted 17.43 acres to KMRL. It is learnt that KMRL has decided to begin the procedure to lease out the allotted land as the process of the allotment of remaining 14 acres is likely to be delayed.
Earlier KMRL planned the Bliss City as a project comprising a medical city, entertainment and recreational hub, etc. and invited expression of interest (EoI) last year. The project was mooted as part of generating non-ticket revenue for KMRL. Though around 20 investors came up expressing interest in the project, no one submitted financial proposals. As most of the investors were interested only in setting up residential projects on the proposed land, KMRL was not keen on that and decided to revise the project.
“We are now planning to implement a project which would be beneficial for the general public. The focus would be on projects which would provide employment opportunities,” said a KMRL source.
Earlier KMRL had held talks regarding the possibility of setting up a new campus of Infopark on the proposed Bliss City land as the Infopark authorities are already struggling due to unavailability of land for the development of the park. “Our concept is different. When we are aiming to generate revenue by leasing out our land, Infopark is aiming to attract more IT companies by offering land for a lesser price. But still there is possibility for such an initiative,” said a KMRL source.
“As the currently allotted 17.43 acres is not contiguous, the remaining 14 acres would be more suitable for the IT infrastructure for Infopark,” the source added.
