KMRL Selects Implementing Agency for Bliss City Project

The long-awaited Bliss City project at Kakkanad in Kochi has finally been set in motion, marking a significant milestone in the city’s infrastructure development. Kochi Metro Rail Ltd (KMRL) has appointed the National Buildings Construction Corporation (NBCC) as the implementing agency for this ambitious initiative, aimed at reducing Kochi Metro’s revenue-expenditure gap.

A memorandum of understanding (MoU) formalizing the partnership between NBCC and KMRL was recently signed. The project spans 31.43 acres near the collectorate at Kunnumpuram, with the government already allocating 17.43 acres to KMRL for initial development. The remaining 14 acres are expected to be allotted soon for the project’s second phase.

In the first phase, valued at Rs 700 crore, NBCC will undertake master planning and development of various commercial and residential spaces within Bliss City. A detailed feasibility study will precede further planning to ensure project viability, overseen by an empowered committee chaired by KMRL’s managing director, with members from both KMRL and NBCC.

Funding for the project, estimated through revenue from residential leases, land mortgaging, and other viable means, will be decided by the empowered committee based on cost and revenue plans outlined in the detailed project report (DPR). The initiative aims to create a comprehensive urban hub including a medical city, entertainment and recreational facilities, emphasizing employment generation and public benefit.

Earlier attempts to attract investors for the project through expression of interest (EoI) yielded interest primarily in residential projects, prompting KMRL to revise the project’s scope to align more closely with public welfare objectives.

The commencement of Bliss City underscores KMRL’s commitment to enhancing Kochi’s infrastructure while leveraging innovative funding strategies to support sustainable urban development.

ET