Kochi: The five-storey shopping complex cum terminus at Angamaly KSRTC bus depot was the first such joint venture project initiated by the then LDF government as a last bid to salvage the debt-ridden public transport behemoth back in 2008. However, ever since its commissioning three years later, the Kerala Transport Development Finance Corporation (KTDFC), which financed the project, was witnessing a lacklustre demand for leasing the commercial spaces, the reasons being high deposit and rent. Now, the KTDFC has slashed the rent from Rs 70 per square feet to Rs 40, in the hope of a change in fortunes.
“The commercial space in the first, second, third and fourth levels were mostly lying vacant all these years. The ground floor and fifth floor were, however, nearly full. Still, around 65, 000 sq ft of the total one lakh sq ft had no takers,” a source said. “People are approaching us for space for shops. However, the cumbersome procedures often discourage them. This time we’ve made the leasing process faster.”
So far it had invited bids six times, and the last one was on July 31. Nearly 10,000 sqft commercial space is being leased out now. The procedures are still on, and the official figures are yet to come. Meanwhile, the KSRTC officials complain that the shopping complex had left the bus terminus with little space for parking and allied operational facilities.
