Kochi Metro to Lease Land for Bliss City Project
Kochi Metro Rail Ltd (KMRL) has released an e-tender for leasing out its land in Kakkanad town in order to expedite the procedures for the proposed Bliss City project. KMRL would lease a total of 17.43 acres near the collectorate at Kunnumpuram for mixed-use development. The proposed multi-billion-dollar Bliss City will be built on 31.43 acres. KMRL has already received 17.43 acres from the government. It has been learned that KMRL has chosen to start the process of leasing out the authorized land because the process of allotment of the remaining 14 acres is likely to be delayed. Earlier this year, KMRL requested expressions of interest (EoI) for the Bliss City project, which included a medical city, entertainment and recreational hub, and so on. The concept was proposed as a way for KMRL to generate non-ticket revenue. Despite the fact that over 20 investors expressed interest in the concept, no financial proposals were offered. Because the majority of the investors were primarily interested in developing residential projects on the proposed area, KMRL opted to alter the concept. Earlier KMRL had held talks regarding the possibility of setting up a new campus of Infopark on the proposed Bliss City land as the Infopark authorities are already struggling due to unavailability of land for the development of the park. KMRL and Infopark have different concepts for leasing land, but there is still a possibility for collaboration, with Infopark's remaining 14 acres being more suitable for IT infrastructure.
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