| T O P I C R E V I E W |
| irse |
Posted - 06/09/2008 : 02:32:49
http://steelguru.com/news/index/2008/06/08/NDk0ODI%
3D/No_SPV_for_Bangalore_Metro_Rail_project_%252526%2525238211%
25253B_Planning_Commission.html
The Planning Commission has decided that the Bangalore Metro Rail
Corporation should finance the project with grants from the
government instead of going through the 50:50 equity model that
involved setting up a special purpose vehicle for the funds.
The project, estimated to cost INR 6,395 crore, has a debt equity
ratio of 70:30. As per the current funding model, the centre and the
Karnataka government are to contribute 15% each to the equity
portion. For the debt portion, 45% will be taken care of by the BMRC
in the form of borrowing from the Japanese Bank for International
Cooperation and the remaining 25% will be raised through subordinate
debts. The JBIC is providing the loan at an interest rate of 8.75%
per annum.
According to the MoU signed with JBIC, the Japanese bank will give a
loan of INR 1,795 crore for the project under a special rate of
interest. While the bank charges an interest rate of mere 1.3% per
annum the project will have to bear a rate of 3.6%.
The proposed metro project envisages a 33 kilometers elevated and
underground rail network with 32 stations in the first phase. The
proposed gauge will be standard gauge, unlike the broad gauge in the
Delhi Metro network. The BMRC, executors of the project, has the
Delhi metro as its consultant.
Construction work, which was scheduled to start in 2005, was delayed
due to change in the coalition government in the state and continuous
debate over the feasibility of the project.
irse |
| 15 L A T E S T R E P L I E S (Newest First) |
| S.ravi |
Posted - 03/20/2010 : 21:01:35
Unauthorised investment cost BMRCL Rs. 1.64 crore
http://www.hindu.com/2010/03/21/stories/2010032154110400.htm
Rs. 30 crore had been invested with PAMCL in equity-based and liquid-based funds
Broker reportedly made good Rs. 3 crore
of his own volition
BANGALORE: The unauthorised investment in private equity funds through a broker by the executive director (finance) of Bangalore Metro Rail Corporation Ltd. (BMRCL) in 2006 has caused loss of Rs. 1.64 crore, Comptroller and Auditor General (CAG) has said in his report.
The improper investment of Rs. 30 crore in violation of guidelines of Karnataka State Bureau of Public Enterprises indicated poor corporate governance in BMRCL, the report released on Friday pointed out.
The BMRCL invested Rs. 10 crore in January 2006 and another Rs. 20 crore in April 2006 with Principal PNB Asset Management Company Private Ltd (PAMCL) that operated various funds which were liquid based and equity based. The executive director (finance) made the investments without the approval of the Managing Director, who was authorised by the board to take decisions.
As against the investment of Rs. 30 crore, the amount realised was only Rs. 28.36 crore.
Suspicious move
Surprisingly, the broker on his own accord paid Rs. 3 crore directly to PAMCL in June 2007.
The personal interest shown by the broker in making good the loss indicated that the broker had made gains using government funds, quantum of which was not on record, the report said.
Responsibility fixed
An audit sub-committee has fixed the responsibility on the executive director (finance) and has been approved by the board in December 2008. Request to initiate disciplinary action against the official has been made by the board.
Sources in BMRCL told The Hindu that Sandeep Dash served as the executive director (finance) during 2006. |
| S.ravi |
Posted - 03/20/2010 : 04:46:56
Karnataka high court removes all hurdles to metro
http://www.dnaindia.com/bangalore/report_karnataka-high-court-removes-all-hurdles-to-metro_1361143
Saturday, March 20, 2010 8:37 IST
Bangalore: The Karnataka high court on Friday dismissed a clutch of public interest litigation (PIL) petitions challenging acquisition of land by the Karnataka Industrial Areas Development Board (KIADB) for Namma Metro, clearing all the hurdles in the way of the implementation of the project.
A division bench comprising justices V Gopala Gowda and N Ananda dismissed the
writ petitions filed by the CMH Shops and Establishments and Residents’
Association, Indira Nagar, and by the owners of Plaza theatre on MG Road, citing
various reasons.
The CMH Shops and Establishments and Residents’ Association, Indira Nagar, had filed the petition challenging the acquisition of land for the execution of the project on CMH Road.
The petitioners had challenged the alignment of the metro in the area and argued that many of them would lose their shops and residences if the Bangalore Metro Rail Corporation Limited (BMRCL) went ahead with the project according to the present plan, and sought a stay on the work.
The petitioners also sought an alternative alignment along Old Madras Road and prayed for the appointment of an expert committee to consider the economic,
social and environmental aspect of the impugned alignment.
However, the court said that the PIL was vested in private interests, rather than a public one and dismissed it. The bench observed that as a policy-maker,the state must have examined all pros and cons of shifting the project, and its correctness could not be examined under judicial power.
The owners of Plaza theatre building on MG Road had also filed a PIL praying for a realignment of the metro rail, as a metro station was scheduled to come up in place of the building.
However, the court said that the authorities had examined the decision to shift the location of the metro station on MG Road from the Parade Grounds to the Plaza theatre building based on expert opinion. The court said that the station would not be relocated from the spot decided upon and dismissed thepetition.
The court observed that the state government was under obligation to provide better, speedy and economical transport to citizens. It held that acquisition of land was not vitiated by legal mala fidesand dismissed the petitions.
The bench further said that Bangalore was witnessing rapid growth with several industries were setting shop here, and hence the requirement for various infrastructure facilities was on the rise. Transportation was a major issue affecting citizens, and the state was making all efforts to provide affordable and quick transportation facilities to all sections of the society.
The court observed that as a matter of policy the government had decided on the metro rail system as an effective mass transportation mode, and the project
could not be hindered or altered on the basis of objections from a few
individuals.
It said that the project involved huge sums of public money and was already 40% complete. If the ruling was granted in favour of the petitioners, it would not only mean a loss of time and investment, and would require new plans to be drawn and fresh land acquisition procedures.
With regard to some alignment changes made earlier, the court said that the changes were made only where certain practical problems were encountered, and where realignment was unavoidable.
|
| S.ravi |
Posted - 03/19/2010 : 20:26:42
Cheers! Metro Phase I on time
http://timesofindia.indiatimes.com/city/bangalore/Cheers-Metro-Phase-I-on-time-/articleshow/5704514.cms
BANGALORE: There is no place for rumours now.The first phase of the Metro project is on track and the first lane will most probably be inaugurated as per schedule,in December 2010,said BMRCL MD N Sivasailam.
With a certain amount of confidence I say that the Byappanahalli-MG Road Metro sector will be operational by the end of this year, he said.
Speaking at the Earth Hour awareness programme at ING Vysya auditorium,Sivasailam assured the crowd that nature-friendly technology is being used for the Metro project.Due to the difficult terrain of Bangalore,piling could not be preengineered.It has caused a lot of sound and air pollution.Otherwise,almost everything is eco-friendly.Apart from this,BMRC has partnered with BWSSB to plant trees near a 400-acre reservoir at TG Halli.By the end of the project,an area larger than Lalbagh will be set up,reflecting the bio-diversity of Bangalore.We are collaborating with NGOs for this, he said.
Stating that BMRCL has begun the tree-planting programme,he said 15,000 trees would be planted for 1,500 trees that were cut for the project.However,people are unhappy as the trees have not been planted in the same places.People need to be more participatory in nature, he said.
FINANCES
If the Metro project is a Rs 8,158-crore project,the amount saved per year in various forms,thanks to Metro,would come to around Rs 1,155 crore annually (see box).While the financial return will be 5-8 %,the economic internal rate of return would be 28%,he said.
INTERNATIONAL STANDARDS
In Bangalore,look out for green and purple lines,instead of the usual green and red ones.This is because purple and green are the colours in the logo.It will be a good change, he said.
While Sivasailam reassured no less than international standard Metro stations,he spoke of how BMTC and BMRC will work on integrated bus tickets.This would help people use the bus service to hop onto the Metro.Well-paved pathways will increase the number of Metro users by 15-20 %.Moreover,the ticket rates will be such that regular commuters will find it cheaper than single-way travellers,unlike the Metros in other metropolitan cities.
EARTH HOUR
After last years success,this year too,Earth Hour will be celebrated on March 27,from 8.30 pm to 9.30 pm.People will have to switch off lights to help save the Earth.
Extending support to the programme,actress Ramya and music composer Raghu Dixit initiated a signature campaign.Dixit also hopped on to a bicycle and posed for photographs to encourage cycling to save Nature.
METRO SAVINGS
Traffic decongestion: Rs 347 cr
Reduction in fuel consumption: Rs 253 cr
Strain on roads: Rs 128 cr
Travel time: Rs 289 cr
Reduction in accidents: Rs 78 cr
Reduction in pollution: Rs 60 cr
|
| S.ravi |
Posted - 03/06/2010 : 18:45:56
Reach-I of Metro Rail would become operational by December 2010.
scheme, added the chief minister.
http://www.deccanherald.com/content/56281/state-bear-half-local-train.html
|
| S.ravi |
Posted - 03/01/2010 : 18:24:32
Metro not to wait for underground stretch to commence operations
http://www.hindu.com/2010/03/02/stories/2010030262560400.htm
MILES TO GO: BMRCL Chairman M. Ramachandran (left) inspecting a metro work site in Bangalore on Monday.
BANGALORE: Notwithstanding the anticipated delay in completion of the underground stretch of Namma Metro that is critical for the full-fledged operations under Phase 1, the Bangalore Metro Rail Corporation Ltd., (BMRCL) is gearing up to operationalise the services on the elevated corridors by excluding the underground stretch.
M. Ramachandran, BMRCL Chairman and Secretary to Union Ministry of Urban Development, told presspersons here on Monday that Reach 1 of Namma Metro between Byappanahalli and M.G. Road will be commissioned by December this year or January next.
Metro cars
The metro cars should be ready for testing by October 2010 and the line could be thrown open for commercial operations after the Commissioner of Railway Safety certifies it, he said.
Similarly, Reach 3 between Hessarghatta Road and Swastik could be commissioned in September 2011. Because of the depot locations at Byappanahalli and Peenya, Bangalore Metro will not find any difficulty in servicing these reaches.
However, Reach 2 (Magadi Road to Mysore Road) and Reach 4 (K.R. Market to Puttenahalli) do not have depots and technically it is difficult to commence operations even if the elevated corridors and tracks are in place. To overcome this problem, Mr. Ramachandran said, Bangalore Metro is in discussions with Delhi Metro Rail Corporation Ltd., the prime consultant for Namma Metro. One of the possible solutions is to construct stabling yards at Puttenahalli and Mysore Road Terminal for maintenance of the Metro cars till the underground stretch is completed, he said.
Conceding that construction of the underground stretch between Cricket Stadium and Magadi Road and Swastik and K.R. Market, will be delayed, Mr. Ramachandran said the deadline might extend to mid-2013 from the original June 2012. |
| S.ravi |
Posted - 02/04/2010 : 18:54:17
Namma Metro coach design to be finalised next week
http://www.deccanherald.com/content/50696/namma-metro-coach-design-finalised.html
Bangalore, DHNS:
Those looking forward to get a glimpse of what the coaches of the ‘Namma Metro’ would look like, will have to wait a little bit longer.
The Bangalore Metro Rail Corporation Limited (BMRCL) is currently in the process of finalising the designs (Mock-Up) of the coaches and will decide/choose the final designs within the next seven to ten days.
BMRCL sources told Deccan Herald that the final design will be approved in the next board meeting. A team of officials from BMRCL had visited South Korea recently for discussions on the design aspects of the train that would be shipped to Bangalore.
The BMRCL has considered about five designs before zeroing in on the final design that is being considered for approval. A consortium led by BEML, Rotem and Mitsubishi have been chosen by BMRCL to build the coaches.
“The first train set is expected in October 2010 and the test run is expected in November 2010. Trial runs will have to be conducted first. The Bangalore Metro on Reach 1 (Baiyappanahalli to Chinnaswamy Cricket stadium) will run as per schedule,” said Dr M Ramachandran, Chairman of BMRCL over telephone from New Delhi on Wednesday.
Underground work
Meanwhile, BMRCL spokesperson B L Yashavanth Chavan said work on the underground corridor at Minsk Square and Vidhana Soudha will commence by the end of this month. “Public can witness men and material begin actual commencement of work by the end of February. Work on Reach 2, 3 and 4 is also on track and will pick up speed after the UG work commences,” he said.
The underground stretch runs between M Chinnaswamy Cricket Stadium and Magadi Road on the East-West Corridor and between Seshadripuram-Swastik and City Market-K R Road on the North-South corridor, totally measuring 8.8 km. It will have seven underground stations, including two at Majestic.
|
| S.ravi |
Posted - 01/11/2010 : 17:33:05
Metro corporation begins asphalting damaged roads
Road users heave a sigh of relief after months of grinning and bearing it
Photo: http://www.hindu.com/2010/01/12/stories/2010011260070400.htm
NICE DRIVE: The newly asphalted stretch of Chinmaya Mission Hospital Road in Bangalore.
BANGALORE: After causing much hardship to Bangaloreans with ruined roads, mounds of debris and dirt due to the ongoing civil works of Namma Metro, Bangalore Metro Rail Corporation Ltd. has begun asphalting the roads outside the civil works area.
The asphalting has brought a respite to our months-long ordeal, said Kalyaraman, who regularly uses the Mahakavi Kuvempu Road in Rajajinagar.
There is no dust and dirt either, said a visibly relieved Rajaram, a resident of the area.
A few months ago, both sides of Mahakavi Kuvempu Road between Harishchandra Ghat and Devaiah Park had been dug up by contractors engaged in demolishing buildings and shifting utility lines for Bangalores biggest infrastructure project. Trenches left unattended were a potential death trap while the road was riddled with potholes in Mariyappanapalya, with clouds of dust billowing whenever a heavy vehicle went by.
Now the stretch of this road between Navarang Circle and Devaiah Park has been asphalted, leaving aside the barricaded civil work area.
Though provision has been made for alternative roads surrounding the proposed Malleswaram Metro Station at Devaiah Park, they are yet to be asphalted.
On the southern side, the motorable area of Krishnarajendra Road from Prof. P. Shivashankar Circle to National College Circle and the stretch of Vani Vilas Road between National College Circle and Lalbagh West Gate has also been asphalted, bringing relief to road users as well as residents of the locality.
CMH Road too
Bangalore Metro has also begun asphalting the Chinmaya Mission Road in Indiranagar.
The stretch between Shanthi Sagar and the cemetery near 17th Cross has seen asphalted, though the stretch from Old Madras Road till Shanthi Sagar is yet to get asphalted. Bangalore Metros spokesperson said it would be done in a couple of months after the completion of the viaduct work.
He added that the stretch of Swami Vivekananda Road between the Adarsha cinema and Trinity Circle cannot be asphalted now because of frequent rupturing of water and sewage lines.
Once the problems are permanently solved, the road will be asphalted. Meanwhile, the corporation is undertaking temporary works to reduce the road users woes, he said. |
| irse |
Posted - 01/02/2010 : 23:56:25
http://www.hindu. com/2010/ 01/03/stories/ 2010010359720400 .htm
CHICKABALLAPUR: Union Minister for Law and Justice M. Veerappa Moily on Saturday said the Bangalore Metro Rail would be extended up to Chickaballapur town.
Mr. Moily told presspersons here that it had been proposed to extend the Metro Rail to Devanahalli and further to Chickaballapur town. Chickaballapur is the nearest town to Bengaluru International Airport, situated off Devanahalli in Bangalore Rural district.
The Union Minister said that he, along with all the MLAs from Chickaballapur district, would meet Chief Minister B.S. Yeddyurappa on Sunday seeking immediate commencement of work on the proposed Rs. 57-crore mega dairy in Chickaballapur.
Mr. Moily said he would request Mr. Yeddyurappa to lay the foundation stone for the proposed dairy on January 15.
Office complex
The Chief Minister is scheduled to visit Chickaballapur on January 15 to lay the foundation stone for the district office complex and inaugurate Paragodu drinking water project in Bagepalli
Rajendra Saxena |
| S.ravi |
Posted - 01/02/2010 : 03:48:05
Delay dogs Metro work at Majestic
http://www.bangaloremirror.com/article/10/2010010220100102000751873bf1ae3f4/Delay-dogs-Metro-work-at-Majestic.html
The KSRTC is clueless about when they would have to shift Majestic bus stand, as the Metro authorities are yet to seek possession of the land due to delay in finalising tenders
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| S.ravi |
Posted - 12/23/2009 : 18:26:23
L&T gets contract for Metro work
http://www.hindu.com/2009/12/23/stories/2009122358900300.htm
BANGALORE: The Bangalore Metro Rail Corporation Limioted has awarded the contract of construction of the viaduct and three elevated stations between the Yeshwanthpur Station and Peenya Depot to L&T, ECC division, Chennai.
An official release said three stations — Outer Ring Road, Peenya 1A and Peenya Village — will come up on the 4.8-km stretch of Reach 3A on the North-South Corridor of Namma Metro Phase I.
Cost
The cost of construction of the elevated corridor and three stations on this section is Rs. 303 crore.
The Yeshwanthpur-Peenya-Hessarghatta Cross is a part of the North-South extension of Namma Metro. On the southern side, the line extends from R.V. Road Terminal to Kanakapura Road (Jaraganahalli).
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| S.ravi |
Posted - 12/20/2009 : 05:10:56
Namma Metro Test run from Oct 2010
http://www.expressbuzz.com/edition/story.aspx?Title=Namma+Metro+Test+run+from+Oct+2010&artid=ymtfaFF6nTs=&SectionID=Qz/kHVp9tEs=&MainSectionID=Qz/kHVp9tEs=&SEO=&SectionName=UOaHCPTTmuP3XGzZRCAUTQ==
19 Dec 2009 09:32:33 AM ISTLast Updated :
BANGALORE: Bangalore Metro Rail Corporation Limited (BMRCL) managing director N Sivasailam said that the first five trains of the Namma Metro rail, Reach-1 are coming from Korea and that the trains are expected to arrive before October 15, 2010.
Revealing this at an interactive session organised by The New Indian Express here on Friday, Sivasailam said that the first testing of the trains would start in October, 2010. “The train would be assembled and it would be run on the testing track at Byappanahalli,” he added.
He informed that from the testing track, the train would be integrated with the systems on the main track where it will be tested again as the trains will have failsafe methods.
“This testing will go on for 15 to 20 days. After this testing, the train will be offered to the Commissioner for Railway Safety for certification, and for that the BMRCL will be providing 15 days,” added Sivasailam.
He also said that the first replica of the train is expected to be ready by the end of January, 2010 as assured by the Bharat Earth Movers Limited.
Sivasailam said that the train will be driver-driven but is capable of being converted into a driver- less one as well.
m feedback@... Bangalore, December 18 BANGALORE Metro Rail
Corporation Limited (BMRCL) managing director N Sivasailam said that the first five trains of the Namma Metro rail, Reach-1 are coming from Korea and that the trains are expected to arrive before October 15, 2010.
Revealing this at an interactive session organised by The New Indian Express here on Friday, Sivasailam said that the first testing of the trains would start in October, 2010. “The train would be assembled and it would be run on the testing track at Byappanahalli,” he added.
He informed that from the testing track, the train would be integrated with the systems on the main track where it will be tested again as the trains will have
“This testing will go on for 15 to 20 days. After this testing, the train will be offered to the Commissioner for Railway Safety for certification, and for that the BMRCL will be providing 15 days,” added Sivasailam.
He also said that the first replica of the train is expected to be ready by the end of January, 2010 as assured by the Bharat Earth Movers Limited.
Sivasailam said that the train will be driver-driven but is capable of being converted into a driver- less one as well.
|
| irse |
Posted - 12/08/2009 : 00:22:12
http://www.hindu. com/2009/ 12/08/stories/ 2009120861500400 .htm
`Vehicles using the stretch will be encouraged to use alternative routes'
Mute spectator: The War Memorial Statue at Minsk Square that has been wrapped owing to Metro work in Bangalore.
Bangalore: The closure of Minsk Square for construction of the Cricket Stadium underground metro station will not only entail felling of 22 trees inside the Cubbon Park for the alternative road, but also throw up a traffic gridlock in the central parts of the city.
Road users have to bear this gridlock for months together, and this endurance is subject to the Bangalore Metro Rail Corporation Ltd. (BMRCL) completing the construction as promised within 36 months from the date of awarding the contract. In fact, BMRCL is yet to award the contract for construction of underground stations and tunnels.
Important link
Minsk Square has been an important link between northern and southern parts of Bangalore and thousands of vehicles pass through this square using Queen's Road, Cubbon Road and Raj Bhavan Road.
Closure of the square will have a cascading effect on the traffic right up to Manipal Centre on Cubbon Road, Mahatma Gandhi Road, Siddalingaiah Circle, Hudson Circle, Basaveshwara Circle, Mekhri Circle and Cantonment.
Alternative routes
After the closure of Minsk Square, one-lane traffic from Balekundri Circle towards Queen's Circle will be allowed, while Cubbon Road will be closed between Minsk Square and BRV Junction. This arrangement could cater to only 50 to 60 per cent of the present traffic volume at the junction, said Praveen Sood, Additional Commissioner of Police (Traffic and Safety).
At Queen's Junction, vehicles will enter Cubbon Park and move towards Press Club and join the Dr. Ambedkar Veedhi after negotiating Election Commission office and the old KGID building using the proposed alternative road.
On the other hand, vehicles from Infantry Road will continue on Bhagawan Mahaveer Road and take a right turn to join Cubbon Road.
Mr. Sood said that since many vehicles passing through the Minsk Square use the stretch as a thoroughfare, such vehicles will be encouraged to use alternative routes.
Diversion
The stretch of Outer Ring Road between K.R. Puram and Hebbal is being made signal-free and many airport-bound vehicles could be diverted on that stretch. Similarly, the Jayamahal Road is being widened to take double the traffic and vehicles will have to use Miller's Road and Cantonment underpass to move towards Mekhri Circle and the BIAL.
Busy locations
Only Minsk Square and Vidhana Soudha underground stations of the Bangalore metro are proposed to be located right in the middle of busy arterial roads, while the rest Central College, Majestic, Chickpet and K.R. Market are either located within government properties or acquired private properties.
Rajendra Saxena |
| S.ravi |
Posted - 11/19/2009 : 08:39:19
BMRCL : Metro to be on schedule
http://www.hindu.com/2009/11/19/stories/2009111959750300.htm
|
| S.ravi |
Posted - 11/14/2009 : 06:15:29
Metro route eats up more trees
http://www.hindu.com/2009/11/13/stories/2009111358300100.htm
Realignment costs 110 trees around Cubbon Park instead of original 70
GARDEN CITY?: The new alignment will also create yet another entry point in Cubbon Park, imperilling its future.
BANGALORE: In a classic case of the cure being worse than the illness, the changed alignment of the Namma Metro’s East-West corridor, that was to have protected Cubbon Park’s greenery, will actually result in the felling of 110 trees in and around this prized lung space.
As per the detailed project report (DPR) prepared by Delhi Metro Rail
Corporation Ltd. (DMRCL) in 2003, the Vidhana Soudha underground station would have been located near Multistorey Buildings. The underground alignment would have taken a right turn before Gopala Gowda Circle, moved under the length of Cubbon Park, and surfaced near the Jawahar Bal Bhavan. The Cricket Stadium elevated station would have come after the Mahatma Gandhi Park.
Initial refusal
A high-power committee of the State Government had refused to clear the alignment on this particular stretch because 70 trees would have been felled in Cubbon Park. Thus in September 2005, the committee headed by then Chief Secretary B.K. Das decided to change the alignment, said a senior official who was privy to the meeting.
However, today Bangalore Metro Rail Corporation Ltd. (BMRCL), which is
implementing Namma Metro, proposes to fell over 110 trees in the park and its surroundings. Over 90 trees are to be axed to lay alternative roads on either side of the Ambedkar Veedhi, and 22 in Cubbon Park for an alternative road to facilitate construction of the Vidhana Soudha and Minsk Square underground stations.
“If 110 trees are to be felled for the alternative road, the original alignment itself could have been followed as it did not affect traffic,” the official said. DMRCL had reportedly given two alternatives for the ramp to surface on ground — between M.G. Road and Brigade Road and between M.G. Road and Residency Road — if the Bal Bhavan option was not acceptable to the Government.
Purpose defeated
“The changing of alignment, aimed at protecting Cubbon Park in its entirety,
will not serve any purpose if 22 trees inside it are to be felled for the
alternative road,” Mr. Das told The Hindu.
“The decision was taken to save Cubbon Park from being touched in any manner.
It was not envisaged at that time that alternative roads will be built right
inside it,” he said.
“Once you touch Cubbon Park, restoring it to its original glory is impossible
and it will give way to further destruction of the park which is under threat.
The alternative road will allow yet another (entry point for vehicles). Cubbon
Park will perish once it is touched,” he added.
‘Shift station’
Mr. Das said the proposed Minsk Square underground station should be shifted if
an alternative road is coming inside Cubbon Park.
“While deciding the change of alignment, we had zeroed in on a piece of
private property in front of the Central Telegraph Office. Even now it is not
late; BMRCL should acquire it and build the underground station there. BMRCL
should not be wary of escalation of cost by Rs. 30 crore to Rs. 40 crore (for
acquisition) to save Cubbon Park,” Mr. Das said.
If acquiring this private property is not possible, the station should be pushed
further under Cubbon Road to save Cubbon Park at any cost, he added.
BMRCL Managing Director N. Sivasailam is yet to respond to an email seeking his
comments.
|
| S.ravi |
Posted - 11/08/2009 : 19:16:00
MG Road loses sheen to Metro
Deepa Bhasthi, TNN 8 November 2009, 07:07am IST
http://timesofindia.indiatimes.com/city/bangalore/MG-Road-loses-sheen-to-Metro/articleshow/5208268.cms
BANGALORE: Not too long ago, an MG Road address was the most prestigious thing for an office or a shop. However, during the real estate boom,
prices went through the roof. Now, its a shadow of its former glorious self.
Several large buildings on this stretch are waiting for tenants, one mall has closed and a swish store is moving elsewhere. With Metro Rail work on in full swing, the road is congested and dusty. Commuting and parking has become a nightmare. This is keeping potential businesses away, say experts.
Balakrishna Hegde, immediate past president of Credai, told STOI the Metro Rail work was chiefly to be blamed. Real estate being expensive is a relative term. In Mumbai, some properties in the Central Business District may cost 3-4 times more than Bangalore. For big brands, rentals dont really matter as much as having a presence on such a road, he said. There is a possibility of redevelopment of old buildings. But a developer will wait till Metro work is over, he says.
Shops and office space is increasingly falling empty along the stretch.Lido Mall, which replaced the landmark Lido theatre, was home to several international brands, apart from housing a multiplex and upscale restaurants. Now, there are posters announcing, Mall closed for customers due to renovation; inconvenience regretted.
The official spokesperson of the chain refused to confirm talk of a major retail and household chain coming up there in the next 3-4 months, saying a decision is pending.
What remains is a coffee chain, multiplex and a restaurant. Metro work started soon after the mall opened.
The Bombay Store is also moving elsewhere. Store officials say the company had leased the building for ten years and as that period is ending, its moving elsewhere.
The good news is that once Metro work is complete, the sparkle should be back on MG Road.
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