JOIN USBMTC plans 35 TTMCs under private participation
The Bangalore Metropolitan Transport Corporation (BMTC) has planned 35 more travel and transit management centres (TTMCs) in the City as it has managed to rent all the commercial space at the 10 existing TTMCs.
The BMTC earns Rs 14 crore per annum by renting space at the existing TTMCs and the sum will go up to Rs 35 crore once all allottees move in. At present, interior design and flooring works are being carried out at some of the space. So, not all the allottees have moved in, Anjum Parvez, Managing Director, BMTC, said.
BMTC sources, however, say the admission by Parvez is proof that the Corporation struggled to attract tenants. “If it makes just Rs 14 crore now and expects to earn more than double (Rs 35) later, they managed to get the clients only now,” a source said.
According to Parvez, there are immediate plans to develop around 15 TTMCs, including those at Jayanagar 4th ‘T’ Block and Kathriguppe — tenders for which have already been floated.
Partly funded by JnNURM
Significantly, the new TTMCs will be built on a public private partnership (PPP). The existing TTMCs were funded partly under the Jawaharlal Nehru National Urban Renewal Mission (JnNURM) and partly through loans.
The Jayanagar TTMC will be on a “design, finance, develop, construct, implement and handover” basis at a cost of around Rs 240 crore, spread across 9.8 acres. The selected concessionaire would occupy the commercial space for 30 years, including the construction period, a senior BMTC official said. The proposed facility will have BMTC and KSRTC bus terminals, a bus depot, a parting lot for private vehicles and commercial space. The BMTC and KSRTC bus terminals will have 15 bus platforms each and 25 and 10 idle parking spaces respectively.
The commercial development is planned on a 5.75-lakh sq ft area proposed to include a hypermarket, a multiplex, other retail spaces and restaurants. The number of total vehicle trips that would be generated by the TTMC during peak hours was found to be 858 passenger car units (PCU) with 425 and 433 PCUs entering and exiting the facility respectively. The estimated number of vehicle trips also includes bus and auto rickshaw trips to the TTMC.
A similar TTMC will come up at Kathriguppe at the cost of around Rs 140 crore and will be spread across 5.6-acre, Parvez said.
Easier rent conditions
The BMTC, which had struggled to rent commercial space at the TTMCs, relaxed the conditions in May 2011.
Now, it will not ask aspiring tenants to bid for the entire complex, as was the case with Big Bazaar at Shanthinagar TTMC. Aspiring tenants can now bid for separate floors at pro rata prices.
Besides, those with just a year’s experience in managing commercial operations can bid for BMTC space. The earlier requirement was three years of experience.