KOCHI: Giving a major boost to city’s infrastructure development, the long-pending Bliss City project at Kakkanad finally takes off. Kochi Metro Rail Ltd (KMRL) is banking on the project to lessen Kochi Metro’s revenue-expenditure gap.
KMRL has appointed National Buildings Construction Corporation (NBCC) as implementing agency for the development of Bliss City land at Kakkanad. A memorandum of understanding in this regard was signed between NBCC and KMRL.
The multi-crore Bliss City is coming up on a total of 31.43 acres near collectorate at Kunnumpuram.
Govt has already allotted 17.43 acres to KMRL for the project and NBCC will carry out master planning and other development planning of various commercial spaces, residential spaces or combination of both in this land in the first phase. Govt is expected to allot the remaining 14 acres soon, for the second phase development.
“A detailed feasibility study shall be conducted by NBCC to ensure project viability. An empowered committee under chairmanship of KMRL managing director and comprising three members from KMRL and two from NBCC would monitor the implementation of project and accord necessary approval for design, change in designs, estimates, deviations, escalation, unit lease prices of built-up areas, etc,” said a KMRL source.
According to NBCC document, first phase itself is valued at Rs 700 crore. Total cost of the project shall be met from lease of residential areas, mortgaging of land parcels, other viable means or the combination thereof as decided by empowered committee.
KMRL has informed that based on feasibility reports, a detailed project report (DPR) would be prepared based on cost and revenue plan. Based on the approved development plan and cost revenue plan, NBCC shall prepare further detailed estimates, architectural design and drawings and service drawings required for execution of the project.
Earlier KMRL planned Bliss City as a project comprising a medical city, entertainment and recreational hub, etc. as a move to generate alternate revenue for Kochi Metro and the agency had invited expression of interest (EoI) for the project last year. Though around 20 investors came up expressing interest, no one submitted financial proposals. As most of the investors are interested only in setting up residential projects on the proposed land, KMRL was not keen on that and decided to revise the project.
KMRL had clarified that they are planning to implement a project which would be beneficial for general public and focus would be on projects which would provide employment opportunities.
