The Hindu : Multiplex project on the anvil

Online edition of India's National Newspaper
Tuesday, Jan 13, 2004

Kerala

Kerala - Thiruvananthapuram

Multiplex project on the anvil

By T. Nandakumar

THIRUVANANTHAPURAM, JAN. 12. The Thiruvananthapuram Development Authority (TRIDA) is working on a proposal to set up the city's first multiplex as part of the Palayam Urban Renewal Project which is under review, amid uncertainty over the rehabilitation of displaced traders.

Conceived as a BOT project, the multiplex proposal is an integrated family entertainment centre with cinema theatres, theme restaurants, games parlours and shopping arcades in a one- acre plot. An Ahmedabad- based company which participated in the Global Investors Meet last year had scouted the city for possible locations.

The TRIDA offered sites at Chala, Medical College and Muttathara where it already has land in its possession. But the company preferred the upmarket location at Palayam for the project which is primarily aimed at a well- heeled citizens with disposable incomes and willingness to splurge on entertainment.

The TRIDA chairman, P. Venugopal, is upbeat on the feasibility of the project which would open up a recreational avenue. He feels that the burgeoning upper middle class segment in the city, especially the youth, would patronise the multiplex. The TRIDA is learnt to be in favour of diverting a portion of the 6 acres earmarked for the Palayam Urban Renewal Project to set up the multiplex.

But the Authority is not so optimistic when it comes to the relocation of the 161 traders occupying the project site. The uncertainty springs from the protracted negotiations and litigation which have marked the rehabilitation package, right from 1986.

The TRIDA is planning to take up the construction of the C block of the Palayam Renewal Project to rehabilitate the displaced traders, while subjecting the rest of the scheme to an overall review. Mr.Venugopal said the tenders for construction of the C- block would be finalised this month. The work is expected to commence by mid-February. The project will be executed with funds from the Capital Region Development Programme and the compensation for the land, which will be released for road widening. ``At Rs. 2 crore, it is not a commercially profitable project but since rehabilitation of traders is a priority, we have decided to go ahead", Mr.Venugopal said.

In the last round of discussions, the TRIDA offered road- facing shops on the basement and ground floor of the new building for the shops fronting the MG Road from the Connemera market to the Saphalyam complex. The other traders were offered shops on the sides of the open corridor inside the 5,600 square metre complex. The discussions remained inconclusive after the traders expressed reservations on settling for a 20 to 30 per cent reduction in floor space.

The TRIDA was forced to review the Palayam Project after the negotiations with the lone bidder for construction of the 11- storied `A' block building ran aground last year. The scheme which was prepared by a consortium of architects covers a total built-up area of 60,000 square metres in 10 blocks. It includes a multi- level parking lot, escalators and lifts, walkways connecting the various buildings, aesthetic landscaping, convention centre, business apartments and godown facilities.

A section of officials feels that the sheer size of the project is enough to deter investors. ``In a city where the concept of high rise shopping plazas is yet to gain acceptance, a project of this magnitude is doomed to fail,'' says a town planning official.

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