The State government has given its administrative sanction for the
construction of a multi-level car parking at Bashyam Road in T Nagar at a
cost of Rs 25 crore. The parking facility will be set up on a Design,
Build, Operate and Transfer (DBOT) basis. 

The fully automatic
multi-level car parking will be coming up in an area of 1,600 sq.m
(seven grounds), available at Bashyam Road in front of Panagal Park.
Since the project is proposed under DBOT basis, the cost will be borne
by the operator. As such,  there will not be any expenditure for the
Chennai Corporation.

The Tamil Nadu Urban Infrastructural
Financial Services Limited has appointed M/s Jones Lasalle as consultant
for this project for preparation of a detailed project report and the
consultant has submitted its feasibility report.

The Chennai
Corporation Council, in its resolution on August 24, 2012, accepted the
proposal of the consultant after certain modifications. At present, the
Chennai Corporation is collecting street parking fee for four wheelers
at Rs 5 per hour, while no parking fee is collected for two wheelers.
The council has accorded approval for charging Rs 30 per hour for four
wheelers and Rs 7 per hour for two wheelers.

T Nagar is a major
commercial hub and frequented by thousands of people daily.  Available
parking space in this area is very meagre and all the adjoining roads
and streets are chocked with parking vehicles. The multi-level parking
facility is proposed to mitigate this problem.