If everything goes well, the civic agency may start getting crores of rupees in revenue from its idle properties in the heart of the city. The government has asked the Bruhat Bengaluru Mahanagara Palike (BBMP) to identify its properties which can be commercially exploited.
It is said that BBMP has at least 5,512 properties in different parts of the city out of which many can be developed into commercial hubs. This could possibly end the financial crisis of the civic agency, said an officer attached to the estate department. It is planned that these properties be developed on the lines of two commercial complexes – Khanija Bhavan on Racecourse road and IT/BT Park at Rajajinagar under joint venture schemes.
The Karnataka State Industrial and Infrastructure Development Corporation (KSIIDC), which was established in 1964 as a wholly owned undertaking of the Government of Karnataka, and is involved in the development of major infrastructure projects in the state including the Kempe Gowda International Aiport (KIA), a sea port at Tadadi, the International Convention Centre and the Devanahalli business park near KIA, could be a major player in this game.
The proposal for joint development has been mooted by commerce and industries department additional chief secretary DV Prasad who has written to his counterpart in the urban development department, Mahendra Jain, to this effect.
KSIIDC has entered into joint ventures with ILFS for providing consultancy and advisory services and with GAIL for city gas distribution projects. Now, it wants to take up a joint venture project with BBMP. An officer said, “Many government departments and agencies own prime land in central business district which are currently lying idle. Planned development of these properties will financially benefit these agencies and also go a long way in solving the increasing demand for office/commercial space.”
Prasad’s letter reads: “Collate the information about prime properties in your departments, their field offices and associate organizations which can be commercially exploited for mutual benefits with the expertise of KSIIDC. Upon availability of the information, we can jointly take a call based on potential demand and availability of funds.”
Mahendra Jain has asked BBMP commissioner N Manjunatha Prasad to prepare a detailed project in this regard.
Credits Bangalore Mirror