Over the years this area has witnessed dense development resulting in problems such as traffic congestion and lack of parking facilities.
Hampankatta is the main retail hub and Central Business District of Mangalore.Over the years this area has witnessed dense development resulting in problems such as traffic congestion and lack of parking facilities. Therefore Mangaluru City Corporation has proposed a Multi-level Car Parking (MLCP) facility in Hampankatta to reduce parking woes in this area. The MLCP facility has been proposed at the vacant site of the old bus stand in Mangalore. Realizing the commercial potential of this location, it is proposed to develop this site as an integrated MLCP cum Commercial Complex facility through PPP for development, operation and maintenance of the facility.
A proposal to construct MLCP was mooted after a city bus stand at Hampankatta was demolished two decades ago. Now the MSCL has included the project under Smart City programme. The project is expected to be implemented at an estimated cost of Rs 91 crore. The project will be implemented under public-private-partnership (PPP) mode by the MSCL and the authorities are planning to complete the project within three years. The project is expected to avoid traffic congestions on nearby roads, where most of the commercial buildings do not have proper parking facilities.
Presently the site serves as a municipal parking lot with a maximum capacity of about 110 cars. During late evening and night the site also serves as the informal starting point of inter-city private buses.
The Site is located at junction of KSR road and Balmatta road. Total vacant space belonging to MCC: 1.55 acres and area occupied by private buildings: 1.06 acres.
The adjacent map shows area to being considered for development proposal as emerging from MSCL meeting with stakeholders. The neighbourhood of the Project Site is dominated by multi-storey commercial buildings with retail shops on the ground floor. The buildings on the site are at quite old and many of these are in disrepair and deteriorating condition. These buildings have shops, commercial establishments and hotel/ guesthouse.
Project Implementation Structure:
- Proposed to be developed on Public Private Partnership (PPP) basis on the Design-Build-Finance-Operate-Transfer (DBFOT) format
- The Concessionaire would be permitted to develop a Commercial Complex as per his plan on the site and to maximize the value from the property within the applicable local building regulations
Revenue Streams from the project:
1)Revenue streams from the operations of the Multi-Level Car Parking:
- Parking charges
- Advertisement Rights
2)Revenue Stream from Commercial Complex:
- The Developer shall be able to generate revenues from the lease/ rentals from the commercial complex.