NRI group bids for project at KSRTC complex.

A Malappuram-based private group has evinced interest in setting up a hotel and shops inside the bus terminal complex of the Kerala State Road Transport Corporation (KSRTC) at Thampanoor.

The Kerala Transport Development Finance Corporation Limited (KTDFC), a non-banking financial company, which is entrusted with the task of managing the terminal, has received a bid from the group to takeover around 80,000 sq ft of commercial space available in the complex.

A senior official with KTDFC told The Hindu that the private player has shown interest in operating a hotel in about 50,000 sq ft and leaving the remaining 30,000 sq ft for other commercial purpose. The group has agreed to give Rs.6 crore as deposit and Rs.30 lakh as rental per month.

The group, which is already into hospitality business in the Gulf region, wants to set up shops, a supermarket and food courts in the ground and first floor. The hotel would come up in the remaining seven floors. “The necessary structural modifications will be done by the player,” the official said. The move to handover a prime property to a single entity has not gone down well with certain quarters in KSRTC. According to general secretary of All India Trade Union Congress Rahul, from the initial stage there was a concerted move to handover the property to private groups and individuals based in Northern part of the State.

'Several good offers were rejected to give the property to favoured groups. It is a well planned move. We have even objected to the understanding reached between KTDFC and KSRTC in developing the terminal. A prime location could have been a money spinner for the transport utility,' he said.

According to another union leader, a constituent of the ruling United Democratic Front was in favour of a single entity taking over the project from beginning. 'So far everything went according to a well planned script,' he said.

The KTDFC official, however, said bids were called twice and there were takers only for 20,000 sq ft. 'In the present case, we are negotiating with the group on monthly rental fee, as the fee of Rs.30 lakh offered by the group is much below Rs.60 lakh in the tender,' he said.


THE HINDU