BBMP forms special purpose vehicle to develop Shivajinagar and KR Market

Bengaluru: The BBMP has formed a Special Purpose Vehicle (SPV) under Smart City project to develop heritage Shivajinagar and KR Market bus terminals at a whopping cost of Rs. 180 crores.

A Detailed Project Report (DPR) has been prepared in this regard. According to N Manjunath Prasad, Commissioner, BBMP, once the DPR is approved, the project will be implemented via an SPV.

The highlight of the DPR which is finalised by Jana USP organisation, both these bus terminals will be developed in line with TTMCs with a special focus on smart parking system, easy Baccess to metro stations, pedestrian pathways, dedicated commercial zone to improve the revenue etc.

"Both KR market and Shivajinagar bus stations have huge land reserve which could be utilised for various commercial purposes. At Shivajinagar an auditorium/cinema hall too have been proposed. As both stations have huge traffic and passenger flow, there is huge demand for commercial spaces," informed a BBMP officer. "Central and state governments must approve the projects before formation of SPV," he added.