The Hindu : Kerala / Kochi News : GCDA may be permitted to collect road toll

Online edition of India's National Newspaper
Friday, Apr 29, 2005

Kerala

Kerala - Kochi

GCDA may be permitted to collect road toll

Anand Haridas

Seven projects to be taken up on BOT basis

KOCHI: The Greater Cochin Development Authority (GCDA) appears to have finally found a way out of the roadblocks it has been facing in taking up projects. Though the Authority had earlier requested the State Government to bring it under the purview of the Kerala Toll Act, this did not work out.

Now it has been pointed out that Section 8 (1) and (2) of the Kerala Road Fund Act, 2001, allows a statutory body or a Government agency that has entered into a concession agreement with the permission of Government, to levy and collect user's fee.

As the GCDA is a statutory body constituted under Section 3A (1) of the Town Planning Act 1108, it can invoke the Kerala Road Fund Act.

The right to collect user's fee was mooted as a means to convince financial agencies to allot loans for taking up big projects.

If this comes through, the GCDA would be able to start work on ambitious projects such as the Ring Road connecting two National Highways (costing Rs. 200 crores), Saleem Rajan Railway Overbridge connecting Rajaji Road and Gandhi Nagar (Rs. 10 crores) and setting up of a Local Urban Observatory.

Sale of property

The Authority would soon invite tenders for the sale of 2.5 acres of land at Marine Drive, near the Goshree Bridge. The minimum floor value will be Rs. 12 lakhs for a cent.

The Authority has 6.5 acres of land at the site. The plot will be sold to only those who agree to comply with the projected development scheme prepared for the Marine Drive by the Authority.

BOT projects

As the Authority has retired all its loans, barring a Housing and Urban Development Corporation (HUDCO) loan, the Authority has plans to take up seven projects on Build-Own-Transfer (BOT) basis.

These projects are a community hall and swimming pool at Rameswaram in West Kochi, a shopping complex housing Advocates Chamber at Marine Drive, a three-storied shopping complex behind Ambedkar Stadium, conversion of the new market at Kaloor to a shopping mall, a shopping complex at Thevara, improving the fish market near Thoppumpady BOT bridge and conversion of the war-ship INS Chatak into a museum.

"Work on some of the projects, like the shopping mall at Kaloor, have already begun and the detailed project reports of the rest are being completed. We have already initiated discussions with various parties regarding these projects," said Antony Isaac, Chairman of the Greater Cochin Development Authority.

The Authority has already started the work of Soorya Enclave, an apartment complex, on BOT basis. The project, which will begin soon, is expected to fetch the Authority Rs. 500 lakhs.

Conceived as a Build-Share-Transfer project, the Authority will allow a private builder to construct 48 apartments in a 50-cent plot and 36 apartments in a 36-cent plot it owns at Gandhi Nagar.

The Authority will have right over 30 per cent of the completed floor area, which it can sell.

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