You can shop while waiting for your bus
That endless wait for public transport is likely to be livened up soon with movie viewing and shopping binges.Thanks to a BMTC endeavour,bus depots at Hebbal,Jayanagar 9th Block and Kathriguppe will get a makeover with traffic and transit management centres (TTMCs) housing swanky malls and commercial establishments.BMTC will call for bids to develop the three depots into transportation hubs as a PPP endeavour and design,build,finance,operate and transfer (DBFOT ) basis.
COMPLETE MAKEOVER
We are unlocking the land value of BMTC assets.These TTMCs will be equipped with adequate bus bays and parking facilities,besides exploring commercial opportunities, said KR Sreenivasa,MD,BMTC.
The proposal has attracted the attention of infrastructure companies and developers.Ramky Infrastructure,for instance,has won the bid to build and manage Hebbal depot through a competitive bidding process, a company official said.
Concession period for the project is 30 years,which can be extended by another 30.The 7.95-acre Hebbal depot is located at the intersection of NH7 and Outer Ring Road.Hebbal TTMC is estimated to cost a whopping Rs 300 crore with provision of 9 lakh sqft area earmarked for commercial and retail operations.
That endless wait for public transport is likely to be livened up soon with movie viewing and shopping binges.Thanks to a BMTC endeavour,bus depots at Hebbal,Jayanagar 9th Block and Kathriguppe will get a makeover with traffic and transit management centres (TTMCs) housing swanky malls and commercial establishments.BMTC will call for bids to develop the three depots into transportation hubs as a PPP endeavour and design,build,finance,operate and transfer (DBFOT ) basis.
COMPLETE MAKEOVER
We are unlocking the land value of BMTC assets.These TTMCs will be equipped with adequate bus bays and parking facilities,besides exploring commercial opportunities, said KR Sreenivasa,MD,BMTC.
The proposal has attracted the attention of infrastructure companies and developers.Ramky Infrastructure,for instance,has won the bid to build and manage Hebbal depot through a competitive bidding process, a company official said.
Concession period for the project is 30 years,which can be extended by another 30.The 7.95-acre Hebbal depot is located at the intersection of NH7 and Outer Ring Road.Hebbal TTMC is estimated to cost a whopping Rs 300 crore with provision of 9 lakh sqft area earmarked for commercial and retail operations.
BMTC has already developed 10 TTMCs at Yeshwantpur,Jayanagar,Shantinagar,Koramangala,Domlur,Whitefield,Vijayanagar,Bannerghatta and Kengeri at a whopping cost of Rs 482 crore from JNNURM funds.
TO BOOST BMTC COFFERS
Annually we earn Rs 35 crore from the 10 TTMCs and expect to clear JNNURM debt.Now,we are planning to build 35 more TTMCs across the city on a PPP model, said Sreenivasa.
The royalty-based dry rental model in older TTMCs hasnt been successful in generating adequate revenue.The commercially more relevant terms being offered now to develop new terminals will boost BMTCs coffers, said Prashanth Sambargi,partner at Mars Realty.
The PPP model for the new TTMCs focuses on making barren land,where buses were parked and repaired,commercially more viable.The model is a win-win situation for both the developer and BMTC.We are exploring opportunities to develop retail spaces in some good locations.The corporation can exploit the floor space index to its potential to generate additional revenue said Raj Menda,MD of RMZ Corp.
Nitesh Shetty,CMD,Nitesh Estates,told TOI they are exploring one or two options proposed under the PPP route.
BMTC is also conducting a feasibility study to examine if Electronics City and Yelahanka depots,too,can be converted into TTMCs under the PPP model.
Whats the project about
TTMCs are a vital cog in any city's urban infrastructure.Parking and other facilities will help commuters interchange between different modes of transportation.The proposed TTMCs will house a fuelling station,administration building,washing area and maintenance workshop.These facilities should be created within two years of signing the contract.
The commercial space should be developed within five years of commencement of the contract.The concessionaire will have to pay BMTC an upfront fee of Rs 10 crore and fixed annuity of Rs 1 crore for the concession period.BMTC MD KR Sreenivasa said whoever pays a higher annuity will get the offer on approval from the government.
NEW LOOK: Bus depots at Hebbal,Jayanagar 9th Block and Kathriguppe will get a makeover with TTMCs housing swanky malls and commercial establishments
TO BOOST BMTC COFFERS
Annually we earn Rs 35 crore from the 10 TTMCs and expect to clear JNNURM debt.Now,we are planning to build 35 more TTMCs across the city on a PPP model, said Sreenivasa.
The royalty-based dry rental model in older TTMCs hasnt been successful in generating adequate revenue.The commercially more relevant terms being offered now to develop new terminals will boost BMTCs coffers, said Prashanth Sambargi,partner at Mars Realty.
The PPP model for the new TTMCs focuses on making barren land,where buses were parked and repaired,commercially more viable.The model is a win-win situation for both the developer and BMTC.We are exploring opportunities to develop retail spaces in some good locations.The corporation can exploit the floor space index to its potential to generate additional revenue said Raj Menda,MD of RMZ Corp.
Nitesh Shetty,CMD,Nitesh Estates,told TOI they are exploring one or two options proposed under the PPP route.
BMTC is also conducting a feasibility study to examine if Electronics City and Yelahanka depots,too,can be converted into TTMCs under the PPP model.
Whats the project about
TTMCs are a vital cog in any city's urban infrastructure.Parking and other facilities will help commuters interchange between different modes of transportation.The proposed TTMCs will house a fuelling station,administration building,washing area and maintenance workshop.These facilities should be created within two years of signing the contract.
The commercial space should be developed within five years of commencement of the contract.The concessionaire will have to pay BMTC an upfront fee of Rs 10 crore and fixed annuity of Rs 1 crore for the concession period.BMTC MD KR Sreenivasa said whoever pays a higher annuity will get the offer on approval from the government.
NEW LOOK: Bus depots at Hebbal,Jayanagar 9th Block and Kathriguppe will get a makeover with TTMCs housing swanky malls and commercial establishments
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