Kochi: The state Planning Board has insisted on major changes to be made to the Rs 433 crore phase II of Vytilla Mobility Hub project and a high-level meet has been convened at Thiruvananthapuram next Tuesday to discuss it.
The Phase II of the project includes setting up of 110 bus bays, multi-level underground car parks, five lakh sq.ft of commercial space and office building, and is proposed to be executed under the Public-Private Partnership (PPP) mode.
Sources said the Board, after its feasibility study, is of the opinion that there would be no takers if the Rs 433-crore second phase is executed at one go.
“Members say they are not expecting multi-national companies to step in to implement the project at one go. Instead they would prefer it to be implemented in two stages of Rs 200 crore each or more.”
The Board is also of the view that the multi-level parking planned now would incur huge financial burden and that it should be reduced.
As per the Kitco plans, the bus-bays are planned on an area of 1.61 lakh sq.ft, the multi-level parking would consume 5.5 lakh sq.ft to accommodate 1,000 cars and bikes.
The first three-floors will have commercial outlets while the next two will accommodate multiplexes, food courts and a children’s play area.
A total area of 25.16 acres has been earmarked for the second phase.
