The Hindu 24.11.2009

No takers for parking project in Broadway

Chennai
Nov. 23: The proposal to construct a state of the art multi level automatic parking complex in congested Broadway bus terminus on a design, build, operate and transfer (DBOT) mode has hit a speed breaker. The project proposed three years ago, is yet to gain momentum, as contractors feel that the project with huge investment is not lucrative due the stringent conditions laid by the city corporation.

The reverse does not seem to have affected the corporation from making another proposal a few weeks ago inviting a consultant to conduct a feasibility study to ascertain the possibility of constructing an underground parking lot at the corporation play ground in Venkat Narayana road, T Nagar. According to corporation sources attached to the bus route road department, the traffic survey and the project feasibility is underway for the new underground parking lot in T Nagar.

The proposed parking lot in Broadway has been delayed due to several factors. After the government initiated the move to decongest the Broadway junction by shifting the wholesale fruit market and mofussil bus terminus to Koyambedu, Parrys has lost its commercial value.

Furthermore, with the recent shifting of the wholesale steel market, several godowns are now lying vacant without takers, sources said. The major reason for the unenthusiastic response from contractors is due to the tender conditions by which the builder should pay an annual royalty fee of Rs 50 lakh to the corporation while the operation period for commercial purpose is only 18 years, sources explained.

When contacted, a senior corporation official admitted that the corporation was planning to float new tenders. So far three different tender packages were floated for fixing a contractor to execute the multi level parking in Broadway, with a capacity for parking about 600 cars, but none of the private firms has expressed any interest to take up the job. The issue would soon be discussed with the corporation standing committee to find a solution, the official added.