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The project is a public-private partnership between KMDA and Simplex Projects Limited. The latter had also been associated with the New Market “Parkomat”.
The G Plus Four parking system will have ramps to enable a drive up to the upper floors. Retail outlets and commercial complexes will occupy the ground floor. Simplex Projects Limited will run the parking lot on a build-operate-transfer basis for a 30-year lease period, after which it will be handed over to the KMDA.
An agreement to this effect was signed by the KMDA and Simplex Projects Ltd in mid-December.
The project cost has been pegged at Rs 50 crore, including the cost of land. The building will come up over an area of 62 kottahs (a little over 1.1 acres) and the four parking floors will accommodate around 500 cars and 40 two-wheelers.
“Hopefully, after the completion of the construction, the chaos over car parking that prevails in the area will be eased to a great extent,” said Barun Kumar Ray, Secretary, KMDA.
The construction will take off in another six months. “Once it begins, we expect to wrap up the project in a span of 18 to 24 months,” said PK Dey, Director, Simplex Projects Limited.
The design of the system is still being chalked out. The design could also incorporate a lift system to take cars to the upper floors.
In a joint venture with the KMC, the firm has already set up a fully automatic, computerised integrated multi-level parking system at the intersection of Park Street-Rawdon Street crossing. But the design of the parking lot next to City Centre is likely to differ — it will essentially be a drive-up one with ramps provided for the purpose.
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