Daijiworld Media Network - Mangaluru (SP)

Mangaluru, Oct 30: The long-pending and oft-spoken multi-level car parking-cum-retail space project that had been planned a few decades back, appears to be set for implementation at last. This long-awaited project will get going on November 2.

The project is being implemented at a cost of Rs 95 crore in 1.55 acres of land at the old bus stand area under public-private-partnership (PPP) model. City mayor, Premananda Shetty, said that this project is being implemented with the involvement of private entities, and the project is expected to be completed in 36 months. Most of the processes relating to the construction of MLCP building have been completed. Once executed, this project will help to address parking and vehicular movement problem in this high density area. Mangaluru Smart City Ltd will execute this project. The project will be executed on the basis of design, build, finance, operation and transfer basis and the investors will manage all these things.

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After the project is ready, the company which constructs the building will maintain it for 30 years. In this 1.69 lac sq ft building with three floors, 430 vehicles can be parked. There will be a commercial complex with modern amenities. The buildings which are existing either outside or inside will not be affected, he said.

The plan had been prepared by Mangaluru Urban Development Authority in the year 2014. The city corporation here had decided to execute the project on PPP model. After the city was chosen as smart city by the central government, this project is being executed through Mangaluru Smart City Ltd.