The Hindu : BMP likely to sell shopping complex

Online edition of India's National Newspaper
Monday, Mar 29, 2004

Karnataka

Karnataka - Bangalore

BMP likely to sell shopping complex

By Afshan Yasmeen

BANGALORE, MARCH 28. The Madivala shopping complex of the Bangalore Mahanagara Palike (BMP), which has been lying unused for years, is now a haven for squatters and an "unofficial cloakroom" for the staff of the neighbouring police station.

Situated in a prime locality near Koramangala and with an office space of 3.5 lakh square feet, this complex, built at a cost of Rs. 30 crore, should have provided good income to the civic body by now. However, the building is only causing a huge loss to it every year. The plan of the civic body to convert the complex into a hardware park failed.

The civic body recently sought advice from the Infrastructure Development Corporation of Karnataka (IDECK) "on how to market the complex at the earliest". The IDECK, which submitted its report 15 days ago, reportedly advised that the complex be sold or leased out as a single unit or even in parts.

It could also be let out on a concessionaire basis, sources in the civic body said.

Though the plan of the civic body in constructing this eight-storey complex was to meet the expenses of several mega-city projects taken up in the past, it has not been able to put the building to use so far.

The work on the complex started in 1993 and was completed two years ago.

In 2003, the BMP Commissioner, M.R. Sreenivasa Murthy, announced that the complex would be let out to companies dealing in hardware and electronic components.

A master plan to convert the complex into a hardware park was also submitted to the State Government. "But unfortunately, the proposal remains only on paper," sources said.

Mr. Murthy said the proposal could not be implemented because the companies were not interested.

"This is probably because the hardware companies are planning a huge complex near Whitefield and have acquired land for it," he told The Hindu .

He said the civic body had the option of letting out the complex to corporate hospitals to run their city branches.

"The options are open. We are ready to sell it to any interested person," he said. Documentation for the fresh IDECK proposal had been completed and tenders would be called soon for the sale of the complex if it did not violate the model code of conduct, he said.

Asked about the illegal occupants of the complex, he said they would be vacated once the sale was finalised.

"We have posted security staff in the complex and a few shops have been sold. Maybe, some security men have kept their belongings there," he added.

Printer friendly page
Send this article to Friends by E-Mail

Karnataka

News Update

Stories in this Section

BMP likely to sell shopping complex

18-year-old girl, father end life

Mobile outlets for directory

Candidates skip meeting with voters

Woman dies of burns

Sai Spiritual Centre jubilee

Around The City

In Bangalore Today

Reader's Mail