Mumbai, March 27 -- Bangalore Metro Rail Corporation Limited (BMRCL) is set to develop an 11-storey parking and commercial complex near KR Puram Metro Station, integrating non-fare revenue initiatives into its expansion strategy.
Project Highlights:
Location: 50 metres from the upcoming Purple-Blue Line interchange station. Structure: 11 storeys, plus a ground floor and two basement levels. Land Area: 6,730 sq. metres (1.66 acres) at Old Madras Road-Outer Ring Road junction. Development Model: Public-Private Partnership (PPP) for 30 years.
Parking & Commercial Facilities:
Parking: Two basement levels will accommodate 1,742 two-wheelers and 556 cars. Commercial Space: The upper floors will house office spaces, retail shops, and malls.
BMRCL Revenue:
Rs 100 million as an upfront premium. Rs 2 crore in annual licence fees.
Project Timeline & Bidding Process:
Bid Submission Deadline: May 13, 2025.
Completion Target: 2027, aligning with the Blue Line's (Silk Board-KR Puram-Airport) launch. This marks BMRCL's second major integrated property development this year, following a multi-use commercial hub at Majestic Station. The corporation aims to increase non-fare revenue to 15% of fare box earnings through commercial developments, rentals, and advertising.
Published by HT Digital Content Services with permission from Construction World.