Namma metro to lease out commercial space around Nagasandra station

The Bangalore Metro Rail Corporation Ltd (BMRCL) has begun the process of integrated property development around Nagasandra Metro station.  The 13-acre land will be leased out for a period of 60 years under public-private partnership on a design, finance, build, operate and transfer basis for commercial purposes.

The BMRCL has quoted the initial bid amount at Rs 240 crore with 1% annual hike. The integration of the project facilities will be designed to accommodate automatic fare system gate, baggage scanner, ticketing counter etc.

Plan to increase footfall

U A Vasanth Rao, Chief Public Relations Officer, BMRCL, said the newly developed property will be connected to the concourse of the Metro station in order to attract higher footfall both for the Metro as well as for the developer.  “The property could be used for any commercial development including construction of malls, restaurant or a firm,” he said and added that any kind of commercial plan needs an approval from the BMRCL.  There will be ATMs at 19 Metro stations which will generate a revenue of Rs 1.6 crore every year.

Tenders floated “We have also floated a tender to lease out retail spaces in Vijayanagar, Hosahalli and MG Road stations,’’ Rao said.

Credits Deccan Chronicle

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