KOCHI METRO TO DEVELOP
BUSINESS
HUB AT KAKKANAD
The
Kochi Metro Rail Limited (KMRL) is awaiting a Government Order (G.O.) to
develop 33 acres of land in Kakkanad as a business hub.This apart, plans are
afoot to have a few commercial stalls in each of the 22 station buildings of
Kochi metro-rail. There are also plans to develop a few hectares of land
adjacent to the metro’s coach-maintenance yard in Muttom near Aluva as
commercial space.The revenue from the hub, stalls and other commercial centres
will be used by the State Government to fund its share (Rs 2,010 crore) in the
Kochi metro rail project. “The funds are also expected to help the metro-rail
project achieve break-even stage at the earliest. The Rs 2,170-crore loan that
will be taken from the Japanese International Cooperation Agency (JICA) has to
be repaid in 30 years by the State government. Initially, there will be a
10-year moratorium for the repayment,” sources said.
The
area in Kakkanad now houses the NGO quarters, many of which are in a
dilapidated condition. “Once the G.O. is ready, we will entrust a
project-design consultant to work out plans to develop the area into a business
hub. Care will be taken so that there is optimal generation of revenue from the
land,” they said.The project would benefit IT professionals and others who will
be able to purchase goods and avail themselves of other services from their
vicinity in Kakkanad, instead of commuting to the city through congested roads.As
for the metro-station-linked commercial stalls, there are plans to open
eateries, kiosks and book shops in them.On the question of shifting utilities
like street lights, cables, pipelines, from road medians and from the side of
roads that have to be widened, the KMRL has sought estimates from the
departments and local bodies concerned. The agency is likely to arrange for the
relocating works, so that there is no delay in the process.“The plan is to
relocate the utilities within three months, prior to the deadline for land
acquisition expiring in December,” sources associated with the project said.Once
this is over, the Town Hall-Kacheripady stretch of Banerjee Road, narrow
portions of the M G Road, the Jos Junction-Ernakulam Junction railway station
stretch and the Vytilla-Pettah Road will be widened into four-lane.
Prof.
John Kurakar
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