Title - Connectivity, skills and commerce

High-speed connectivity, skill-development centres for the knowledge economy and state-of-the-art infrastructure can change the face of the State. The Thiruvananthapuram-Mangalore high-speed railway project, an Edu-Medi city planned in Malappuram, a commercial infrastructure project in Thiruvananthapuram, all such ideas are intended to make the State a hot investment destination.A feasibility report has been prepared for the railway project, T. Balakrishnan, Managing Director of Infrastructures Kerala Ltd. (Inkel), says. The project is estimated to cost Rs. 1.18 lakh crore. The Thiruvanthapuram-Ernakulam stretch will cost around Rs. 45,000 crore. The Delhi Metro Rail Corporation is preparing a detailed feasibility report, Mr. Balakrishnan says.The preliminary work has begun with a survey of the route. A host of clearances, including those on the environmental aspects, have to be received for the project to receive international aid. But it will not be a hurdle, Mr. Balakrshnan says.What is more important is the benefits from the project. Over 4,000 people were killed in road accidents in Kerala last year. The railway project can be seen as an effective alternative to solve traffic problems, he says.

Skills, health

The Edu-Health city is proposed to be set up on 100 hectares of land at Panakkad village in Malappuram. An English and foreign languages university is among the prestigious ventures expected to function there. There will be engineering colleges, a medical college, nursing colleges and management institutions.

Inkel proposes to set up commercial facilities as part of the project. A detailed feasibility study has shown that given the socio-economic and demographic profile of the location and the demand-supply scenario, it is desirable to have technical, business, vocational and medical and paramedical educational institutions in the “city.”

A gross area of 2 lakh square feet will cater for the proposed commercial facilities such as health-care equipment services, insurance, transport and taxi services, logistics, banking and currency exchange, gyms and health clubs, commercial space for conventions and functions, international patient services and other common facilities such as department stores, Internet cafes, pharmacies, housekeeping services and laundry.

Investors can form a joint venture with Inkel for the development. Inkel will construct and provide basic infrastructure support such as power and water supply and connectivity. Inkel is also offering to implement and operate the entire project on behalf of the investor based on mutually agreeable terms.

Inkel, jointly with the Kerala State Industrial Enterprises under the Industries Department, is developing half a hectare of land and constructing a premium commercial complex of 1.95 lakh square feet on 11 floors at Thampanoor in Thiruvananthapuram.

The commercial complex will have a shopping mall, a food court and premium office space with parking lots.

The first to third floors of the complex will have commercial space, while the fourth floor will have a food court and an entertainment zone. The fifth to eleventh floors will house office space. The retail space on the three lower floors will have a gross area of about 69,000 square feet. The food court, the entertainment zone and other facilities on the fourth floor will together have an area of 11,500 square feet. The office will have around 63,000 square feet of area.

The landscaped surroundings and multi-level parking are added attractions, an Inkel report says.

Poised for growth

As indicated in a survey report of the Federation of Indian Chambers of Commerce and Industry, Tier 2 cities are poised for growth in demand for commercial and residential real estate. Inkel is embarking on this project to cater for this growing demand for commercial space. The target clientele are new-generation hypermarkets, boutiques and specialty outlets for the retail space and major public and private organisations for the office space.

The project site on S.S. Kovil Road, leading from Thampanoor to the Housing Board junction, is already in possession for development. The site has road access on both sides and is in the heart of the city with close proximity to the railway station, bus stand and government offices, including the Secretariat.

The complex is estimated to cost Rs. 49 crore.

The design will factor in the need for retail space, food courts, the entertainment zone and office space. The built-up space will be made available to investors on a 90-year lease.

The project will be ready for occupation in early 2014, an Inkel report says.