MANGALORE: The ambitious Rs 300 crore multi-level car parking (MLCP) project of the Mangalore Urban Development Authority (Muda) is likely to take off soon. Muda chairman Ramesh S said that the detailed project report
(DPR) is under preparation and the project will take off as soon as the
widening of the KSR Rao Road, which leads to the project area, to 80 ft
is taken up.

The 1.55 acre land has been given on a 35-year
lease to Muda by the city corporation. The stumbling block has been the
additional 55 cents which is in private hands. “We have had talks with
the five private parties who hold the private land so that Muda will
have 2.10 acres of land for development. The terms of agreement will be
decided soon,” he added.

Sources in Muda and the city
corporation office informed that the proposal was stuck as land owners
were not agreeing to the 60:40 factorization based on the land given up,
with 60% going to the investor. They were keen on 50:50 factorization.

It is yet unclear whether the project will be developed on a public
private partnership (PPP) or joint development mode. “If the tenders for
the project do not get adequate response we will decide on the joint
development mode,” Ramesh observed.

The project will have 11
storeys, of which the top five storeys will be for car parking. Ramesh
said the car park will not be a ramp system but will be a mechanical
lift system which will give space for parking more than 800 cars. The rest of the floors will be used as commercial space, a move intended at garnering revenue for Muda for putting up the project.

He said if all things fall into place, the foundation stone laying ceremony will be held within the next couple of months.